Recap & Recording: The present and future of corporate payment processes

By treasuryXL & TIS

31/08/2023


treasuryXL and TIS recently hosted an insightful live session titled “Corporate Payments, The Present and Future,” which delved into the strategic and technical aspects of corporate treasury.

The session featured a panel of distinguished experts, including Lourdes Antonio Luna, Independent Treasury Expert; Jörg Lupa, Senior Sales Account Executive at TIS; and Michael Faschang, Head of Treasury Management Systems at Siemens Gamesa.

The discussion was skillfully moderated by Pieter de Kiewit, a treasuryXL ambassador and the owner of Treasurer Search.

The focus of the session was to address the foundational and advanced aspects of corporate payments, catering to treasury professionals across different industries. Pieter emphasized that the discussion would not delve into the technical details but rather focus on the strategic implications and challenges that corporate treasurers encounter.

Recap

Lourdes brought her wealth of experience to the discussion. Reflecting on the past 15 years, Lourdes highlighted the evolution of payment processes from manual procedures to the technologically advanced landscape of today. She emphasized the importance of joining the treasury function at the right time, as she witnessed the transition from labor-intensive tasks to a more automated and efficient era.

Lourdes Antonio Luna “We have made important steps, no doubt on that, and most probably, we are all enjoying the benefits that those important steps have brought us, but we are still not there.”


The live discussion between the experts took the audience on a journey through the challenges of the past, including manual payment processing, host-to-host connections, and the tediousness of single entries in e-banking platforms. They noted that these hurdles paved the way for transformation. Significant milestones such as the establishment of the SWIFT network and the introduction of SEPA and ISO 20022 payment standards marked a turning point, opening doors for enhanced automation and streamlined processes.

The experts acknowledged the progress made in reducing manual transactions and achieving greater efficiency, while emphasizing that there is still work to be done. They highlighted the responsibility of payment team leaders to leverage the available market opportunities and elevate their processes to the next level.

Siemens Gamesa’s Treasury Transformation

Michael Faschang, provided a fascinating glimpse into the recent major treasury transformation project undertaken by the global renewable energy leader. With a complex landscape encompassing hundreds of bank accounts worldwide and payments originating from diverse systems, Siemens Gamesa faced the challenge of harmonizing its treasury operations.

“The In-house Bank we built based on SAP APM and with the help of TIS has set a new benchmark in terms of automation and visibility of cashflows and payments. It allowed us to close down approximately 800 bank accounts. This whole project would not have been successful without the innovation skills and flexibility of TIS.” Michael Faschang


Michael led a comprehensive two-phase project. The first phase involved harmonizing legacy systems and establishing robust end-to-end processes with the support of TIS, a leading solution provider. The second phase saw the transition from Siemens’ legacy system to TIS and SAP, alongside the creation of an innovative in-house bank solution. This transformation achieved remarkable results, including enhanced automation, visibility, and streamlined processes across the organization.

Prominent Quote: Michael is the driving force behind the company’s award-winning treasury technology implementation, which won the EuroFinance Excellence Award 2023 for Best Technology Implementation and the Global Finance award 2023 for Best Treasury Management Software.

Closing

Moderator Pieter de Kiewit emphasized the ongoing evolution of corporate payments and the need for continuous adaptation to the ever-changing treasury landscape.

Pieter de Kiewit “We’re not just discussing the past and present; we’re paving the way for the future of corporate payments.”


For those who missed the live session, watch the recording here. The journey through the evolution of corporate payments continues, and the future holds exciting possibilities for further innovation and transformation. Keep an eye on TISpayments.com for the latest news. Hope to see you next time!


Go to our Live Session recording page to watch our previous sessions. Enjoy!

Speakers

Michael Faschang

Head of Treasury Management Systems at Siemens Gamesa

Michael is the driving force behind the company’s award-winning treasury technology implementation, which won the EuroFinance Excellence Award 2023 for Best Technology Implementation and the Global Finance award 2023 for Best Treasury Management Software.

This year has been a massive success for Michael and his team. They have achieved several excellent milestones.

Michael is passionate about treasury technology and is always looking for ways to improve the efficiency and effectiveness of treasury operations. He is excited to share his experience with you in this live session.

Lourdes Antonio Luna

treasuryXL expert | Senior Manager, Global Treasury at SABIC

Lourdes is a highly experienced treasury professional with over 16 years of experience in the financial services industry. With an illustrious history of accomplishments in various treasury positions, she has consistently demonstrated her ability to excel. Her expertise spans treasury operations, cash management, financial risk management, and treasury strategy.

Lourdes is currently the Senior Manager of Global Treasury at SABIC HPP, where she is responsible for leading a team of treasury professionals in the development and execution of treasury strategy for the company’s Specialties business unit. In this role, she has successfully implemented a number of treasury initiatives that have resulted in significant cost savings and improved financial performance.

Lourdes is an ACT certified treasury professional (CTP) and certified International cash manager (CertICM) and holds a B.S. Hons. Business and Marketing degree from University (UNAPEC) in Dominican Republic. She is fluent in Dutch, English, and Spanish.

Jörg Lupa

Senior Sales Account Executive

TIS

Jörg is a highly accomplished Senior Sales Account Executive with a proven track record of success, He excels in working with businesses of all sizes, including large enterprises, and navigating complex and sensitive projects. His cross-industry experience and in-depth technical knowledge make him a standout professional in the field. Jörg’s unique blend of expertise and exceptional interpersonal skills enable him to deliver tailored solutions and build strong client relationships. He is a trusted advisor and valuable asset to TIS, driving excellence in sales and account management.

Pieter de Kiewit

Moderator | treasuryXL Ambassador

Owner of Treasurer Search

With his passion for treasury and recruitment Pieter started his successful treasury recruitment company, Treasurer Search, in 2009, and is a proud treasuryXL ambassador. His down to earth mentality combined with his open, honest and authentic communication has brought him a warm and valuable network within the treasury world.

As a speaker and moderator for a variety of events and his well-known presence in the treasury world, Pieter is the go to person to moderate this event.

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