April 1, 2001
When Cheryl McDowell began her career in Latin America two decades ago during the era of hyperinflation and massive currency devaluations, managing cash was often more than a full-time endeavor for corporate treasurers. "It was a tougher job," says McDowell, who today runs Oracle's treasury operations in the Latin countries where the California-based computer maker operates. "In Latin America back then, anything could happen from one day to the next."
While she says currency management remains a big part of the job, she has time these days to turn her attention to streamlining collections, payment term structures and other treasury operations. McDowell - who worked for American Express
Multinationals operating in Latin America are adopting more streamlined cash management platforms for the region. But governments and some local banks have responded slowly to demands for top-notch services.