Your new home for fixed income
07-03-2022 | treasuryXL | Refinitiv | LinkedIn | Your new home for fixed income
Effective Finance & Treasury in Africa event run by EuroFinance | London
23-02-2022 | Eurofinance | treasuryXL |
If your company operates in Africa or is thinking about it, then join us at Effective Finance & Treasury in Africa on March 23rd in London. Now in its 9th year, this intimate event brings together more than 150 senior corporate treasury professionals from leading multinationals – all involved in markets across the continent.
With peer-to-peer learning and knowledge-sharing more important than ever before, join other treasury leaders to debate the key issues, share success stories and gain practical guidance on how to overcome your shared challenges.
From treasury technology to managing liquidity risks, financing strategies, FX, payments and more, the concise 1 day agenda will provide all the information you need to redesign your treasury operations for cost and efficiency, power innovation and support business growth.
Speakers include:
Jan Beukes, Group treasurer, MultiChoice Group Ltd
Omofolake Fawibe, Head of finance, IBS, Danone SA
Ricky Brink, Treasury professional, Siemens SA
Titus Owoeye, Head finance, Fan Milk West Africa
Gain all the tools you need to succeed in Africa in 2022 and beyond.
Registration is open – find out more and register now.
The Evolution of Legal Documents, The Next Step
22-02-2022 | Wim Kok | treasuryXL | LinkedIn |
A fantastic end-to-end digital journey has begun to create a paperless supply chain ecosystem for the benefit of all parties concerned in the documentary (paper heavy) Supply Chain settlements of today.
EVOLUTION OF LEGAL DOCUMENTS, THE NEXT STEP
For this Enigo AB (www.Enigio.com) started at the basis of the current standard, the paper document. A clean sheet of paper!
A large share of the communication in a trade finance transaction is already digitalised. Banks structure customer communication through portals, negotiate via safe e-mail and sign using e-signatures, not to forget SWIFT which has already enabled the digitalisation of many products and process steps between banks. A major obstacle for achieving a completely digital trade finance world has been the requirements to be able to manage and present documents in their original form. Enigio’s focus has therefore been to create a digital document with the same properties as its paper equivalent. The trace:original document is designed to be able to hold all necessary data to execute a transaction and at the same time not being tied to any specific transaction infrastructure. More importantly it can also be managed by anyone with access to a computer and the internet.
How does the solution work? Watch below video:
Following the accelerating momentum (after and pushed by the Covid pandemic), we see changing environment in the banking landscape, which is becoming rapidly more adoptive for transformation, especially digitalisation of the paper heavy trade documentation evidencing import- and export transactions. Both infrastructures, paper and digital documents must co-exist. There will be countries being early digital adopters and others lagging. An infrastructure agnostic digital trade finance document of any type can serve all the aspects of the global digital ambition extremely well. Interoperability can be achieved on different levels and by using different tools. One of the most forceful ways of achieving interoperability is by standardisation of data definitions and data formats. Json Schemas and the trace:original document is a perfect connector to achieve digital interoperability not only between blockchain based trade finance platforms but for all trade finance platforms.
The banks’ lack of investment decisions for end-to-end digitised trade processes impacting their customers have created a large cost effect on corporations.
- Banks additionally impose costs on their corporate customers as they lack strategic vision on operative and compliance issues. Still manual or dual processes that are partly broken and very costly for all parties
- Banks also impose costs internally for front, middle and back-office and create compliance risks with manual or partly manual processes
- Trade finance digitalisation is a strategic issue for a bank and its corporate customers and is undergoing rapid change
- Many solutions and offerings to choose from but a lack of basic digital standards internally and when interacting with others
- Cost and risk/AML issues for all parties
- Bank’s role is to help to prioritise the trade finance short-term initiatives that will support corporate treasuries long-term objectives
- Banks should be firm with their opinion about coherent direction and help corporates to reduce the uncertainty that comes with trade finance digitalisation.
Conclusion
Footnote: further detail to be found on the website: www.Enigio.com
- Several whitepapers
- Walkthrough gallery of (1min.) YouTube videos explaining product usage very clear
- Modules for bank guarantees, Standby L/Cs, Prom Notes, Bills of Exchange and eB/Ls
Thank for reading and stay tuned!
International Business Consultant
Trade Finance Specialist
Digital rules (URDTT) for Trade Finance: Episode 2
10-02-2022 | Wim Kok | treasuryXL | LinkedIn |
Episode 2 of our series of educational videos is now available. Please take a look and let me know what you think. Episode 1 is, of course, still available on our YouTube channel.
Trade Advisory Network Limited and treasuryXL Trade Finance experts launched their second episode of a series of free, educational videos on URDTT. There will be 6 episodes in total covering all aspects of the development, interpretation, and application of URDTT in the context of a digital trade strategy. In the upcoming months, you can expect one educational video per month.
What can you expect in the second episode?
Episode 2 of this series of videos focuses on URDTT (Uniform Rules for Digital Trade Transactions). Subsequent episodes will focus on the use of electronic records, payment obligations and, the role of banks/non-bank financial service providers.
Duration: 11.38 min
Enjoy, explore and develop!
Interested to know more about this topic and the upcoming educational videos? Contact our Expert Wim Kok.
International Business Consultant
Trade Finance Specialist
Digital rules (URDTT) for Trade Finance: What, How and When?
10-01-2022 | Wim Kok | treasuryXL | LinkedIn
Watch Episode 1 of a series of free, educational videos focusing on Uniform Rules for Digital Trade Transactions (URDTT)
Trade Advisory Network Limited and treasuryXL Trade Finance experts launched their first episodes of a series of free, educational videos on URDTT. There will be 6 episodes in total covering all aspects of the development, interpretation, and application of URDTT in the context of a digital trade strategy. In the upcoming 6 months you can expect one educational video per month.
What can you expect in the first episode?
This first episode focuses on the background to the decision to create a new set of rules for digital trade transactions and provides definitions of some of the most important terms. Subsequent episodes will focus on the use of electronic records, payment obligations and, the role of banks/non-bank financial service providers.
Duration: 19.20 min
Enjoy, explore and develop!
Interested to know more about this topic and the upcoming educational videos? Contact our Expert Wim Kok.
International Business Consultant
Trade Finance Specialist
Trade Finance for Treasurers
23-11-2021 | Wim Kok | treasuryXL | LinkedIn
The current global trading environment has exposed new complexities and heightened risks associated with international trade, notably through Covid 19. Following the latest studies (* ADB) the global trade finance gap grew to an all-time high of USD 1,7 trillion. Especially for SME sector (being hardest hit) the availability of bank liquidity and credit is increasingly under pressure. As a result, the playing field of international trade needs greater focus on understanding and mitigating risks and making use of new opportunities in the accelerating digital world of Trade Finance.
“Following the latest studies (* ADB) the global trade finance gap grew to an all-time high of USD 1,7 trillion.”
The ability to quickly access cost-effective financing when and where it is needed is key for also treasury departments. The new challenges and rapid changing finance landscape prompts many Corporate Treasurers to re-educate themselves and/or seek specialized expertise from trusted advisors, identify new and reliable alternative funding sources, streamline their digital journeys and current (internal) processes to achieve additional efficiency, transparency and cost reduction.
The use of Trade Finance solutions via (mostly standard and “old”) banking products goes way back in history to the golden age (Bill of exchange and promissory note financing). Our TreasuryXL expert Wim Kok can guide and advise you on the roles of banks and other key players, including emerging Fintech providers, insurers and alternative providers. It is essential for the Treasury department to address the needs and or pain points of the company select the most appropriate solution or partner to solve the problems or make use of new opportunities.
To give you an idea of the regular trade finance products that are available to facilitate trade, we list the instruments below.
Why is Trade Finance so Important to Corporate Treasurers?
- Obtaining liquidity using risk mitigation and financing options from international trade transactions
- The role of banks in trade finance products (risk mitigation / financing and transaction processing)
- Obtaining insight into the various trading conditions (Incoterms), the additional securities (title of documents, warehouse warrants) and credit insurance principles
Below is a brief overview of the most commonly used trade finance instruments, i.e.
- Documentary Letters of Credit (import, export), Stand-by LCs, Guarantees and Indemnities.
- Documentary Collections (CAA, CAD) – Bills of exchange and Promissory notes. Obtaining liquidity through discounting the instruments (with or without recourse).
Besides the classical trade finance banking products liquidity techniques such Receivable Finance or the Factoring of complete debtor portfolios (with or without credit insurance) are also frequently in the industry.
Your TreasuryXL trusted advisor Wim Kok is available for advice on the use of the various trade finance products or techniques.
Whereas the majority of trade finance products are (mostly) standardized and in international accepted format that are subject and adhere to the various international rules issued by the ICC** to name a few: UCP 600, ISP98, URDG758 and Incoterms etc.
International Business Consultant
Trade Finance Specialist
*The global trade finance gap grew to an all-time high of $1.7 trillion in 2020, a 15% increase from two years earlier, as the pandemic heightened economic and financial uncertainties and devastated global trade, according to the latest Trade Finance Gaps, Growth, and Jobs Survey, released today by the Asian Development Bank (ADB).
**ICC Headquarters 33-43 avenue du Président Wilson 75116 Paris, France Tel: +33 (0) 1 49 53 28 28 Fax: + 33 (0) 1 86 26 67 44 Email: [email protected]
Changing priorities of corporate treasurers post-pandemic
| 15-11-2021 | Eurofinance | treasuryXL | LinkedIn
More than 18 months have passed since treasury professionals around the world had to leave their offices at short notice due to the escalating covid-19 crisis. In April 2021, EuroFinance carried out a survey to find out more about the different ways the pandemic has affected treasury professionals. Alongside the adoption of remote working, the subsequent report highlights treasurers’ accelerated adoption of digital technologies, and the contribution that treasurers make to board-level decision-making during a crisis.
What are the key takeaways from this report?
- The importance of cash flow forecasting has been underlined by the crisis. Almost three quarters of treasury professionals have increased their focus on cash forecasting during the crisis, while 54% plan to prioritise cash forecasting in the future.
- Cash management and liquidity management remains a top priority for treasury professionals. Seven out of ten said cash management/liquidity management was a top priority going forward.
- Covid-19 has accelerated digital transformation. Alongside the rise in remote working, treasury teams have increased their adoption of robotic process automation (RPA), APIs/cloud, machine learning/AI and virtual accounts/in-house banks.
- Treasurers have been more involved in board-level decision making during the pandemic, with 39% of treasurers saying they are more involved since the crisis began.
Want to see the full report?
Download here
Your Last Call | International Treasury Management Virtual Week | September 27 – October 1
22-09-2021 | Eurofinance | treasuryXL |
It’s free, It’s Virtual…
International Treasury Management is the annual meeting place for 1000s of the World’s most senior treasurers to learn and share experiences in valuable peer to peer discussions. With a reputation for ground-breaking sessions and world-class speakers, our 30th anniversary event will explore the boundaries of the profession, take a glimpse into the future of business, treasury and working life as well as offer the practical case studies on the treasurer’s top agenda items.
Only one treasury event can deliver the comprehensive mix of big picture global insight and granular treasury knowledge you need to make the right choices for the future.
Back to the future, again
Over the past 30 years since EuroFinance’s inaugural conference on International Cash and Treasury Management, much has changed. Treasurers have firmly become business partners, technology experts, risk managers and opportunity spotters. They often lead fundamental change within the company as markets, business models and technology shifts.
What next? This event will delve into how treasury operations can gear up for the future, having learned the lessons from the past. Where, who, what and how will the corporate be in the coming years and what is treasury’s role?
Keynote sessions will offer big-picture insight alongside themed streams including:
- Payments revisited
- Risks and Rewards
- Digital strategies
- Practical solutions to day-to-day Treasury challenges
- The power of partnership
What makes International Treasury Management the must-attend event of the year?
- networking on a global scale – a significant rise in attendees in 2020 boosted the value networking with banks, providers and potential clients… all in one place
- strategic insights and best practices – get solutions to the challenges you face from treasury and economic experts during keynotes, practical case studies, fireside chats, analytical panels and more
- future trends – delve into the latest innovations and new technology driving change in treasury, and their practical applications
- live Q&A with world-class treasurers – enjoy borderless networking and live Q&As with high-profile speakers directly after each session
- cost and time-efficiency – tune in form anywhere in the world, at the click of a button with no long distance travel or accommodation costs
- continued learning – catch up on any missed sessions and re-watch your highlights, on demand for up 2 months after the event
- unite your international teams – as a free event, it offers an opportunity for your whole treasury team to attend. Perfect for encouraging learning and development at all levels
September 27th – October 1st | Virtual
Register Now for Free!
International Treasury Management Virtual Week | Celebrating 30 years as the world’s leading treasury event
| 19-05-2021 | Eurofinance | treasuryXL |
International Treasury Management is the annual meeting place for 1000s of the World’s most senior treasurers to learn and share experiences in valuable peer to peer discussions. With a reputation for ground-breaking sessions and world-class speakers, our 30th anniversary event will explore the boundaries of the profession, take a glimpse into the future of business, treasury and working life as well as offer the practical case studies on the treasurer’s top agenda items.
Only one treasury event can deliver the comprehensive mix of big picture global insight and granular treasury knowledge you need to make the right choices for the future.
Back to the future, again
Over the past 30 years since EuroFinance’s inaugural conference on International Cash and Treasury Management, much has changed. Treasurers have firmly become business partners, technology experts, risk managers and opportunity spotters. They often lead fundamental change within the company as markets, business models and technology shifts.
What next? This event will delve into how treasury operations can gear up for the future, having learned the lessons from the past. Where, who, what and how will the corporate be in the coming years and what is treasury’s role?
Keynote sessions will offer big-picture insight alongside themed streams including:
- Payments revisited
- Risks and Rewards
- Digital strategies
- Practical solutions to day-to-day Treasury challenges
- The power of partnership
What makes International Treasury Management the must-attend event of the year?
- networking on a global scale – a significant rise in attendees in 2020 boosted the value networking with banks, providers and potential clients… all in one place
- strategic insights and best practices – get solutions to the challenges you face from treasury and economic experts during keynotes, practical case studies, fireside chats, analytical panels and more
- future trends – delve into the latest innovations and new technology driving change in treasury, and their practical applications
- live Q&A with world-class treasurers – enjoy borderless networking and live Q&As with high-profile speakers directly after each session
- cost and time-efficiency – tune in form anywhere in the world, at the click of a button with no long distance travel or accommodation costs
- continued learning – catch up on any missed sessions and re-watch your highlights, on demand for up 2 months after the event
- unite your international teams – as a free event, it offers an opportunity for your whole treasury team to attend. Perfect for encouraging learning and development at all levels
September 27th – October 1st | Virtual
Register Now for Free!
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