Treasury management (or treasury operations) includes management of an enterprise's

holdings, with the ultimate goal of managing the firm's liquidity and mitigating its operational,
financial and reputational risk. Treasury Management includes a firm's collections,
disbursements, concentration, investment and funding activities. In larger firms, it may also
include trading in bonds, currencies, financial derivatives and the associated financial risk
management.
Most banks have whole departments devoted to treasury management and supporting their
clients' needs in this area. Until recently, large banks had the stronghold on the provision of
treasury management products and services. However, smaller banks are increasingly launching
and/or expanding their treasury management functions and offerings, because of the market
opportunity afforded by the recent economic environment (with banks of all sizes focusing on
the clients they serve best), availability of (recently displaced) highly seasoned treasury
management professionals, access to industry standard, third-party technology providers'
products and services tiered according to the needs of smaller clients, and investment in
education and other best practices. A number of independent treasury management systems
(TMS), such as RegalPay by Atlanta based Regal Software Technologies are available, allowing
enterprises to conduct treasury management internally.
For non-banking entities, the terms Treasury Management and Cash Management are sometimes
used interchangeably, while, in fact, the scope of treasury management is larger (and includes
funding and investment activities mentioned above). In general, a company's treasury operations
comes under the control of the CFO, Vice-President / Director of Finance or Treasurer, and is
handled on a day-to-day basis by the organization's treasury staff, controller, or comptroller.
Bank Treasuries may have the following departments:

A Fixed Income or Money Market desk that is devoted to buying and selling interest
bearing securities

A Foreign exchange or "FX" desk that buys and sells currencies

A Capital Markets or Equities desk that deals in shares listed on the stock market.

In addition the Treasury function may also have a Proprietary Trading desk that conducts trading
activities for the bank's own account and capital, an Asset liability management (ALM) desk that
manages the risk of interest rate mismatch and liquidity; and a Transfer pricing or Pooling
function that prices liquidity for business lines (the liability and asset sales teams) within the
bank.
Banks may or may not disclose the prices they charge for Treasury Management products,
however the Phoenix Hecht Blue Book of Pricing may be a useful source of regional pricing
information by product or service.