Which Solution would enhance the Safety and Security of Financial Processes?
22-08-2023 | Recently we ran a poll to find out what solution treasurers thought was most important to maintain safety and security for financial processes.
How to Adjust Your Working Capital Management in a Changing Economy
27-07-2023 | The results are in, so find out what is considered the key strategy!
How far ahead do Treasurers forecast?
05-07-2023 | Recently we delved into a poll to gain further understanding of how far ahead treasurers do forecast. Are you a master of short-term planning, or do you have your eye on the future? The results are in, find out how you compare with your peers and learn from Conor Deegan of CashAnaltyics what can be learned from this.
What is your biggest frustration in Trade Finance?
01-06-2023 | treasuryXL and Nomentia recently discussed the issue of underutilisation of useful trade finance tools by corporate treasury departments in-depth during the recent live session “Trade Finance Trends: Innovations and Disruptions”.
What are the main Benefits of an Interim Treasurer?
30-03-2023 | Recently we had a live session regarding Interim Treasury and its benefits. We were particularly interested in your opinions on the key benefits of an interim treasurer.
What is a successful Currency Management Strategy?
09-02-2023 | The year’s second edition features a discussion on the newest treasuryXL poll results, including a review of treasurer voting patterns and expert perspectives on effective currency management.
Who should “give a push” and work on APIs?
12-01-2023 | treasuryXL | LinkedIn |
A new year, a new edition in which we discuss the latest treasuryXL poll results. It is encouraging that once again many treasurers participated in the vote. We examined the voting patterns of treasurers and gathered the perspectives of experts Jack Gielen and Konstantin Khorev on the topic of APIs in treasury.
Who should “give a push” and work on APIs?
It is commonly understood that APIs are prevalent in today’s digital landscape. However, corporate treasurers can also reap benefits from API technology and its advantages. If you are unsure about the importance of APIs in Treasury or need more information, you should definitely watch the recording of the joint webinar together with Cobase on the future of APIs. It is encouraging that once again many treasurers participated in the vote. The current treasuryXL poll remains open and we encourage you to continue to have your voice heard! You can cast your vote on this link.
Question: Who should “give a push” and work on APIs?
First observation
That looks quite straightforward: partners should join forces. Do the treasuryXL experts agree, or what is their view on this?
View of treasuryXL experts
Jack voted for the option that partners should join forces.
“APIs and the benefits are clearly on the map but there is also an understanding that there is still work to be done before those benefits will really be realised”
It is good to see that regarding the results of this poll, the market agrees that the success of corporate APIs and OpenBanking requires cooperation and cannot be dictated by 1 party. This means Treasurers clearly understand the complexity of the playing field. At the moment, although there are many initiatives by individual parties, there is a need to create a good partnership where the whole eco-system works together
The main benefits that APIs could realise if banks and companies were to work together are:
- Better integration of banking services into customers’ own internal systems,
- Easier connection to new banks and expansion of banking services
- Better and more real-time data that can be converted into actionable information
These benefits translate into being able to use the systems the treasurer has chosen more efficiently and better, more up-to-date insight into status, exposures and required actions.
Recently, Cobase set up the webinar “The Future of APIs” in collaboration with treasuryXL to discuss this topic. I was particularly impressed by the level of knowledge Treasurers have gained over the past year which was also reflected in the questions. APIs and the benefits are clearly on the map but there is also an understanding that there is still work to be done before those benefits will really be realised. Ultimately, the priority with the end customer, the treasurer, will determine how quickly other market players act.
Konstantin voted for the option that partners should join forces.
“By working together, we can achieve a more efficient and effective treasury management system.”
I agree with the majority view that the implementation of APIs in the treasury field should be a collaborative effort. Banks will play a key role in implementing these changes, but it is also crucial for corporates and TMS providers to set and specify the requirements. This ensures that the solutions being implemented align with the unique needs and goals of each individual corporate, and TMS providers can develop the tools and services necessary to support these needs. By working together, we can achieve a more efficient and effective treasury management system.
Recently, my latest article on this topic was published on treasuryXL. In it, I try to make it plain that APIs are a nice and easy solution, although they come with some limitations and challenges. At the same time, I believe that the future of bank connectivity lies in API technology. What do you think?
What will be the Treasury Trend of 2023?
30-11-2022 | treasuryXL | LinkedIn |
As 2023 is approaching, we explored what Treasurers are particularly looking forward to in treasury for next year. What will be the Treasury Trend of 2023? Are treasurers curious to know what is going to happen in the area of Market and FX Risk Management, or just what the developments are going to be in e-commerce related to Treasury? Or will the understanding of APIs in Treasury be the story of 2023, or the role of Treasury within companies? We sought it out!
We thank Huub Wevers and Kim Vercoulen for sharing their views with us.
What will be the Treasury Trend of 2023?
As 2023 is approaching, we explored what treasurers are particularly looking forward to in treasury for next year. What will become the trends in treasury management next year?Are treasurers curious to know what is going to happen in the area of Market and FX Risk Management, or just what the developments are going to be in Ecommerce related to Treasury? Or will the understanding of APIs in Treasury be the story of 2023, or the role of Treasury within companies? We sought it out! This topic was also the subject of discussion during the last webinar together with Nomentia, you can find the recording here.
Question: What are you particularly interested in that will develop in 2023 in treasury?
First observation
We see that Market and FX Risk Management stands out a little, and that there is less focus on trends in e-commerce and Treasury. What do those within treasuryXL say about this, and what are they looking forward to for next year?
View of treasuryXL experts
Huub is especially interested in the developments in APIs for Treasury for in 2023.
“My personal interest is in the focus on APIs, which is good, as APIs offer new functionalities and convenience for treasurers”
With the current political and economic turmoil, it makes sense that market risk is back on the agenda. Interest rates are rising and emerging markets are becoming riskier. My personal interest is in the focus on APIs, which is good, as APIs offer new functionalities and convenience for treasurers. However, it is a jungle because everyone promises APIs, but few deliver on them, and the few that do make them have no standards.
We also see APIs that are ‘disguised’ file connections. This makes sense, because an API means linking two applications and this can be done through authentication, security and then exchange of a file. We see this a lot with Payment Service Providers. Getting reporting files for matching purposes, for example.
The webinar the other day was interesting because Niki and I represent two different areas of treasury that are important to Patrick, a very experienced treasurer, namely market risk and technology. Together with Pieter as moderator, it was fun to hear the different perspectives and experiences!
Kim Vercoulen (Treasurer Search)
Kim is especially interested in the developments of Market and FX Risk Management for in 2023.
” Important question for the treasurer will remain what to do about this.”
I chose for Market and FX Risk Management. I think especially with inflation and higher interest rates, this is going to have an impact on the treasurer’s work within the treasury department.
This is obviously all going to play through on companies’ costs, and pressure on selling prices will also increase. Important question for the treasurer will remain what to do about this.
How this will affect the treasury market compared to the current year remains to be seen. That is what we are going to witness at Treasurer Search.
How important is it for you that someone has a well-known Treasury degree?
31-10-2022 | treasuryXL | LinkedIn |
The fifth edition in which we discuss the latest poll, is available for your reading. We show how treasurers voted to express their opinions on a current issue, and several of our treasury experts will talk about their perspectives.
We thank our experts Konstantin Khorev, Arnoud Doornbos and François De Witte for sharing their valuable views on this topic in this edition.
How important is it for you that someone has a well-known Treasury degree?
There are plenty of education and training courses in treasury, with the aim of obtaining treasury certificates. We wanted to explore how important you think this is, in the job market or for other things. There was a very good participation in the poll, resulting in a record 113 votes. Thank you everyone for actively participating, and join us in voting for the poll that is currently live and let’s try break the record votes right away!
Question: How important is it for you that someone has a well-known Treasury degree? On the job market or for other things?
How do treasures think of a treasury degree?
We see a considerable spread of votes. A large proportion of treasurers value expertise more than a degree. On the other hand, a large proportion considers a treasury degree minimally of high importance. Some of our treasuryXL experts from different backgrounds explained their views on the subject.
View of treasuryXL experts
Konstantin voted for the option that a treasury degree is a guarantee of quality.
” Specific, treasury-focused education certainly makes sense.”
From the perspective of a recruitment manager who has conducted a number of interviews, I find that a standard academic programme does not focus enough on the topics relevant to the treasury function.
For example, I note that too many candidates for treasury positions find it difficult to understand or don’t know FX forward pricing (relationship between interest rate differential, spot and forward pricing), or don’t understand the difference/relationship between net income and cash flows, etc.
And, of course, these are only general topics; other topics – like cash pooling or hedge accounting are just not part of the regular curriculum. Therefore, specific, treasury-focused education certainly makes sense.
Arnoud voted for the option that a treasury degree is just one of the key aspects.
” There are also elements that you can never learn from a book”
A treasury degree is a great start to a career in treasury. But after having interviewed many candidates in my life, I am also convinced that practice is also a very good learning opportunity. There are also elements that you can never learn from a book. You must have done that. But a treasury degree is a nice theoretical framework to start with.
In treasury you have to think in terms of cash flows and risks. In addition, you still need some understanding of financing, how to price it in relation to the risk that the bank runs on your company.
I don’t have a treasury degree myself, but I am completely self-made man. After 25 years in dealing rooms of banks and then 9 years as a treasury consultant, I think I have seen all facets of the profession.
François voted for the option that a treasury degree is a guarantee of quality.
” It is key to ensure that both the candidates and the current treasury staff keep their treasury knowledge updated”
Within Finance, Treasury is a fast-moving activity, which requires in addition to the soft skills a lot of technical skills and competencies. We are in the war for talent, and we experience more and more staff rotation. Hence it is key to ensure that both the candidates and the current treasury staff keep their treasury knowledge updated.
Several programs have been developed, the most well known being the ACT Certificate in Treasury Fundamentals. In the Netherlands NIVE also organizes the QCM (Qualified Cash manager) and QT (Qualified Treasurer) training. In Luxembourg, ATEL organizes with the House of Training the Certificate in International Treasury Management and Corporate Finance, with a Fundamentals version and an Advanced version.
Some treasury associations partnering with universities to provide treasury certification. In France, the AFTE has teamed up with the university of Paris Sorbonne, the university of Rennes and the University of Lille to develop a full master program in Treasury Management.
We also have in the Netherlands the Vrije Universiteit Amsterdam who organizes the postgraduate Executive Treasury Management & Corporate Finance program combining two finance disciplines which largely overlap and are inextricably connected: Treasury Management and Corporate Finance. It has now been running for more than 20 years.
Beside this we have a lot of other treasury trainings organized by organizations such as Van Groningen, Finsiders Academy, Orchard Finance, etc. However, they do not offer a certification.
In an ever more sophisticating environment, and in view of the increased regulations, it is for me key to look at certified trainings to build a solid background in a Treasury Management field. It enables to meet other talented treasurers and teachers. In addition, thanks to the certification, based upon an examination and/or end paper, you can get a additional quality label, which can be very useful in your career.
In this respect, I wish to share my personal experience in a completely different area. I am currently looking for Board Mandates and realized that there also a certification can be useful. Hence I have started the Guberna programme to become a Guberna Certified Director.
In the event that due to circumstances, you cannot follow certified trainings, you can also get a certification thanks to the Treasurer Test developed by treasuryXL.
What could happen if the Treasury sector were “metaversed”?
04-10-2022 | treasuryXL | LinkedIn |
We present for you already the 4th edition in which we discuss the latest poll results. We’ll demonstrate how treasurers voted to express their viewpoints on a current matter, and a treasury specialist will discuss his view.
We have invited Ernie Humphrey to share their views on the current topic.
What could happen if the Treasury sector were “metaversed”?
Corporate treasury in the metaverse; is that realistic in the near future? We wanted to know if this idea was in play among Treasurers. The poll did not get the highest number of responses with only 26 votes. Still, thanks to everyone who voted!
What do treasurers think?
Despite the relative lower number of votes, the votings gives an interesting picture. Half say they do not see Treasury happening in the metaverse, yet over a quarter say they are enthusiastic about the idea. One treasuryXL expert Ernie provided his opinion of the concept of Corporate Treasury in the Metaverse.
View of treasuryXL expert
Ernie Humphrey
Ernie voted for the option that he does not see this happening.
” Will I try to get treasury professionals to engage “in that world” as it makes sense? Absolutely!! “
Metaverse is just a “buzz phrase”. No one currently knows what it is.
Treasury professionals are notoriously slow to adopt new technology and concepts.
Yes, we are finally seeing some traction with RPA and AI, but what is the actual adoption rate?
I gave the first full virtual conference for Treasury professionals back in 2020 and it was clear that even though we were in the middle of COVID, treasury professionals were not buying a virtual experience that could be the same (or better) that a live event.
If they cannot accept a virtual conference, how should we expect them to do things like buy “digital assets”with corporate assets?
As another example, look at the use of cheques in the US, still nearly 50% of B2B payments. Enough said, the Metaverse and treasury are a long way off if ever.
Will I try to get treasury professionals to engage “in that world” as it makes sense? Absolutely!!
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