Part 2: From the History of the Association of German Treasurers e.V.
If you’ve ever wondered what the “dot over the ‘i’” on the far-left stripe of the VDT logo means: Nothing! It was the result of a transmission error back then, and the logo was adopted exactly as it appeared on the fax printout. (For younger readers: “Fax” was short for “telefax,” a remote copying device that today is found almost exclusively in German government ministries 😉)
In the first part of this series, we gained insight into the evolution of treasury management and the challenges that accountants, banking and savings bank professionals, managers, and “amateur computer scientists” have had to face over the past 25 years.
Since “treasurer” is still not a recognized formal profession, the individuals mentioned above have mostly had to teach themselves what they know. The limited information available on how to handle these tasks came from academia, banks, software providers, colleagues from other companies, or had to be purchased at great expense from specialized consultants.
Academic findings were often theoretical in nature and difficult to apply in practice. The quality of advice from other (non-academic) sources varied and was not always neutral or applicable to one’s own finance department. It was therefore time to establish an advocacy group that would provide education and training for treasurers and form a sufficiently strong lobby vis-à-vis financial institutions, standards-setting bodies, and solution providers.
Today, the Association of German Treasurers (VDT e.V.), founded 25 years ago, is the leading professional association for corporate treasury in the German-speaking world. More than 1,500 members from nearly 700 companies form a strong community that is recognized in Germany and beyond—by the banking sector, software and service providers, standards-setting bodies and organizations, as well as neighboring associations—as an active advocacy group and an institution for education and continuing professional development.
In the specialized divisions “Cash & Liquidity,” “Equity & Debt,” “Risk Management,” and “Asset Management,” current and future topics are discussed, and best-practice approaches, position statements, technical publications, and newsletters are published. The “Job Profile & Qualification” division focuses on the tasks and functions of treasurers and offers the insights gained to its members several times a year in the form of basic and advanced courses, culminating in the “Certified Corporate Treasurer” certificate program.
“Continuing education today is the foundation for success in treasury tomorrow.”
says Prof. Dr. Heinrich Degenhart, the board member responsible for this department, who is pleased with the high demand for the VDT e.V.’s qualification programs, which are already fully booked through early 2024.
To share the association’s topics and expertise with the community, the Association of German Treasurers (VDT e.V.) also organizes conferences, online events, regional meetings, workshops, and webinars for its members. These, too, are very well received by the association’s members, which include the treasury and finance departments of large corporations and medium-sized companies.
Even though the motto is “by treasurers, for treasurers,” representatives from universities, software manufacturers, consulting firms, auditing firms, banks, and other companies also participate in the committees as supporting members, provided that the respective committee deems this useful. This cross-sector cooperation often makes it easier and faster for all parties to understand the interrelationships and to jointly devise more effective solutions. A prime example is the preservation of the group privilege in connection with PSD II. Without the timely intervention of the VDT e.V., the implementation of this EU directive would have made the continued operation of intra-group payment factories extremely difficult or even impossible.
With an efficient office in Limburg and many active contributors across its various departments, the Association of German Treasurers (VDT e.V.) has achieved a great deal for its members. As one of its dedicated supporting members, Trinity hopes that the association’s expertise and assertiveness will continue to grow with the realignment of its leadership. We are happy to support this effort!
Trinity Management Systems GmbH, one of Germany’s leading TMS developers, has been a supporting member since December 8, 1998, and has thus been working with the VDT for over 23 years. Trinity actively supports the “Job Profiles & Qualifications” and “Cash & Liquidity” committees.
Trinity shares its knowledge with VDT members and, in return, gains valuable insights into their wishes and requirements for future solutions. These insights are incorporated into software development and subsequently benefit the treasurers who have chosen Trinity TMS as their treasury management system. It’s a win-win situation that benefits several thousand Trinity TMS users worldwide every day.
Trinity TMS has been developed in Germany since 1997 with a wealth of expertise and is successfully marketed worldwide. Customer inquiries are handled directly by Trinity, fostering a personal relationship between our employees and users. The German team is supported in serving international customers by a project office in the Netherlands. To comply with EU data protection directives and the GDPR, and to make the implementation of Trinity TMS as easy as possible for customers, Trinity has been offering customized “private cloud” installations in German data centers for years. As an owner-managed and self-financed company, Trinity has demonstrated continuity for 25 years and will continue this tradition. Tailored to each customer, experienced, fast, and personal.
