LIVE SESSION | The Evolution of Open banking, Connectivity and Real time: How will APIs change the Treasurer’s daily life?

27-05-2022 | treasuryXL | Kyriba | LinkedIn |

Live session | June 14 | 11 am CET

How to benefit from the advantages of APIs, for small, medium, or large companies?

APIs are a key work in Treasury Management Systems and the link to multibank platforms. APIs are a catalyst in real time to grant CFOs and treasurers a 360 view of their liquidity management.

Webinar June 14, Kyriba and treasuryXL

Join the panelist discussion to hear from experts in the field

  • Pieter de Kiewit, Owner of Treasurer Search is moderator of this session. With his passion for treasury and his wide industry knowledge he is the obvious person to ask the right questions to the experts.
  • Patrick Kunz, owner of Pecunia Treasury & Finance and highly valued treasuryXL expert. With Patrick’s impressive career within the World of Treasury, you can really say that he lives and breathes Treasury.
    Patrick is performance driven. He is an open minded, outgoing, rational person who is comfortable communicating and convincing on all levels of management. Patrick has worked with both international corporates from all fields of business as well as national non-profit organisations.
  • Félix Grévy, VP Product, Open API and Connectivity, Kyriba
    Felix Grevy has more than 20 years of experience working in Financial Technology and held various roles in product development, sales and product management.
    He has been working on API for the last 5 years, building and launching successful API platforms. He has joined Kyriba in 2020 to lead the API and connectivity strategy

We will go around several questions:

  • Who should, own/build the API; Bank, customer or TMS provider? If a bank builds one should it be open source?
  • How can APIs contribute to accounting or controlling, in situations where there are intraday statements, but accounting is only able to process them with end of day statements? Two-way traffic: API’s for both statements / Camt for instant payments
  • How does the CFO leverage the instant payments vs instant acknowledgement?
  • APIs vs Swift. How do they operate together?

Registration

Discover everything there is to know about APIs and how to unify data in a single platform to deliver key insights.

Register today for the next event on API and its advantages.

 

Digital rules (URDTT) for Trade Finance: Episode 4

25-05-2022 | Wim Kok | treasuryXL | LinkedIn |

Episode 4 of a series of educational videos on URDTT (Uniform Rules for Digital Trade Transactions) is now available. Please take a look and let me know what you think.  Previous episodes 1 are, of course, still available on our YouTube channel.

 

 

Trade Advisory Network Limited and treasuryXL Trade Finance experts launched their fourth 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 period, you can expect one educational video per month.

Duration: 16.42 min

WATCH NOW FOR FREE

Enjoy, explore and develop!

Interested to know more about this topic and the upcoming educational videos? Contact our Expert Wim Kok.

 

Wim Kok

International Business Consultant
Trade Finance Specialist

 

 

 

 

The Role of APIs in Strategic Cash Forecasting

19-05-2022 | treasuryXL | Kyriba | LinkedIn |

 

By Andrew Deichler, Content Manager and Strategic Marketing

Source

Cash forecasting has undergone some substantial changes over the past couple of years. While forecasting has always been important, the COVID-19 pandemic highlighted just how critical it is, and why CFOs are prioritizing it more than ever.

In a recent webinar, Bob Stark, global head of marketing for Kyriba, and Lisa Husken, value engineer at Kyriba, discussed the current and future state of strategic cash forecasting. When exploring the data, one key point became clear—APIs are the key to more accurate cash forecasts.

How Forecasting Has Changed

Prior to the pandemic, many organizations with high idle cash balances might not have prioritized forecasting, Husken noted. However, once the pandemic hit, as well as other issues that followed like supply chain disruptions, even cash-flush companies quickly saw the important role forecasting played in their liquidity strength.

Risk management has also become more of a focus in the pandemic era as macroeconomic factors impacted FX, interest rates, the supply chain, and inflation. This prompted a shift from organizations generally producing one cash forecast to looking at multiple scenarios for cash and liquidity. “The ‘what-if’ scenarios became increasingly important,” Stark said. “It’s not like they didn’t happen before… but everyone became intrigued by [scenario planning] come 2020.”

Data-Driven Decision-Making

Given the focus on risk and the necessity to explore multiple potential scenarios, today’s treasury functions are focusing heavily on data-driven decision-making. Organizations have more data than ever before, and they need real-time access to it in order to make strategic decisions. And the only way to facilitate that is through APIs; “You can’t become more data-driven without actually having integrated platforms with APIs,” Stark said.

While many organizations view APIs as connectors that allow companies to access their banks and real-time payments, they have much greater potential. They have the ability to unify data, bringing information together into one, composable system, Stark explained. They can take a company’s system of record (the ERP), merge it with a treasury management system, and also bring in data sets from other internal and external sources, such as purchase requisitions, purchase orders, invoices, sales forecasts, etc.

With such expansive capabilities, it’s plain to see why APIs are the perfect tools for forecasting. A survey of over 800 finance executives by IDC and commissioned by Kyriba revealed that 88% of them are prioritizing APIs this year. That’s because CFOs understand that APIs can unify forecast data across their organizations so that they can make better decisions. They are demanding more precise cash forecasting and liquidity planning.

And they are right to demand it, because at the moment, they don’t have the insights they need. The survey also revealed that currently only 15% of finance leaders leverage real-time data to drive insights, and only 25% of finance teams reliably forecast cash and liquidity beyond one month.

Husken noted that those two data points go hand in hand. Reflecting on her previous role as a treasury practitioner, she noted that once forecasts go beyond 4 weeks, their accuracy tends to be 50% at best. “If you don’t have access to that real-time data, then you’re not utilizing the most up-to-date information,” she said. “Then how could you be as accurate as you could be going out further than four weeks.”

Better Forecasting Rewards

Improving the forecast would provide treasury and finance teams with more confidence to capture higher yield, which is desirable in a rising interest rate environment. With the insight strong forecasting provides, some Kyriba clients have been able to decrease the amount of cash they commit to working capital on a both short-term and a long-term basis and divert it to higher-yielding activities.

For example, through improved forecasting with Kyriba, Health Care Service Corporation (HCSC) was able to reduce working capital holdings by nearly $4 billion. The health insurance company was then able to make more strategic investment decisions earlier in the day, resulting in a 5% increase in investment returns. Short-term returns grew by $40 million, while long-term returns have seen an increase of $140 million.

Looking ahead, treasury teams may reap even higher rewards as interest rates increase. The culmination of data that APIs facilitate will create better forecasts, enabling organizations to put cash on the balance sheet to the best possible use. Borrowing will get more expensive as interest rates increase, but APIs can vastly enhance the decision-making process.

Listen to the full webinar here. And for even further insights, download the AFP Treasury in Practice Guide, Treasury Opportunities in Strategic Cash Forecasting.

Click here to view all blogs by Kyriba

Subscribe and receive your 41 pages ‘easy-to-read’ eBook, What is Treasury?

16-05-2022 | treasuryXL | LinkedIn |

 

Treasury, Corporate Finance, Cash Management, Risk Management, Working Capital Management and Blockchain. What are the purposes of these treasury functions?

treasuryXL created this eBook based on the most relevant best practices that Treasury experts provided over the last years. We bundled the most important information for you and created easy to read and understand articles about the main subjects within the World of Treasury.

We took a deeper dive into each of the above-mentioned treasury functions and highlight:

  • The purpose of each named Treasury function (What is?)
  • What specialists do
  • Examples of Activities
  • Summary of Frequently Asked Questions and answers
  • Conclusion

How to receive the eBook ‘What is Treasury’ for Free?

We simply giveaway two presents for you! By signing up for our newsletter you will automatically receive the following in your inbox:

  1. On Fridays, our Coffee Break weekly newsletter will land in your inbox. In this weekly newsletter, we will highlight the whole week full of the latest treasury news within our community.
  2. The 41 pages eBook, What is Treasury?
Subscribe and Download

 

Subscribe, Join, Download and Relax.

Welcome to our community and have fun reading!

 

 

Kendra Keydeniers

Director, Community & Partners at treasuryXL

 

 

 

 

The world’s largest treasury event is returning to Vienna in September | 10% discount via treasuryXL

09-05-2022 | Eurofinance | treasuryXL |

 

EuroFinance International Treasury Management, the world’s largest and most influential treasury event, will take place in Vienna from September 21st-23rd 2022. Returning in-person after 3 years with more than 2000 attendees including 150 world-class speakers, the event offers unparalleled networking and insights from the world’s most senior corporate treasurers. treasuryXL is proud media partner of the 31st edition of the EuroFinance event.

Why attend?

  • Be inspired by headline speakers as they interrogate a changed world including Guy Verhofstadt, member of the European Parliament and Göran Carstedt, former corporate executive of Volvo and IKEA
  • Get practical solutions to treasury challenges with new case studies and immersive discovery labs
  • Hear from the disruptors at the new The Future of Money Stage
  • Delve into the latest innovations and new technology driving change, and how to apply them to your treasury
  • Meet with more than 100 banking and tech partners and join forces to innovate and shape the future

 

For the full agenda and to register, please click here

TreasuryXL contacts can claim a 10% discount with code: MKTG/TXL10

 

Myths and basics of RFPs

25-04-2022 | treasuryXL | Treasury Delta | LinkedIn | RFPs are one of the less attractive parts of projects, although a necessary evil. Treasurers hate them because to set up this huge document and organise the necessary stakeholders it takes time and effort, while remaining highly manual. Let’s break down the myths around tenders and see […]

Read more

Effective API Strategies Go Beyond Banks & Payments

21-04-2022 | treasuryXL | Kyriba | LinkedIn |

 

By Brian Blihovde, Senior Director, Product Marketing

Source

Bank Connectivity is Only the Beginning of the Transformation Journey

CFOs looking to optimize their processes and systems view APIs as a gateway to enterprise-wide liquidity and the organization’s financial capabilities and health. Finance transformation starts with bank connectivity, leading to real-time decision-making, but the opportunities do not stop there. Bank connectivity and payments help finance deliver more complete, real-time information to all parts of the business. This is the benefit from composable financial systems and design. CFOs, treasurers, and their IT counterparts must all collaborate, consider and plan how transformations continue to drive impacts beyond bank connectivity for all of finance and business units as well.

Finance and the business units to include manufacturing, warehousing, inventory, sales, and distribution all comprise enterprise-level functions contributing important strategic decision-making information. APIs should be used to drive transformation, resilience of data, efficiency, and real-time reporting. Strategic liquidity decision-making will improve once IT and finance can collaborate.

Legacy Systems Don’t Exist with New Data Unification Strategies

CEOs and CFOs are finding it harder to justify an entire re-do of their systems landscapes. CFOs should not look at their systems as “legacy” as API integration can take data and transform it into information and expanded decision-making capabilities. This API-driven unification of data from systems available and stored within various databases and systems across the organization. Legacy is an outdated concept when leading-edge, comprehensive APIs are introduced as technology enablers.

Information, today, is compiled, rationalized, and optimized with APIs regardless of the source system or application; definitions of “legacy” are not relevant any longer. CFOs and finance leaders make decisions with aggregated data transformed into business intelligence repositories from the information they have today and at reduced timelines with leading APIs.

Doing More with Less: APIs Beyond the Bank

Treasury and finance can do more when they use a vendor with integrative API capabilities beyond payments and banking alone. Integrating procurement, ERPs, GLs, and other third-party systems delivers the data unification needed for a comprehensive decision-making platform. Today, APIs go beyond banking and payments for integration across:

  • Investment Portals
  • FX Trading Platforms & Hedge Management
  • Market Data Providers
  • Supplier Services (for Working Capital Programs)
  • Security Profile and Governance Management

Taking Next Steps

To obtain better, and more accurate access to finance information, APIs link the systems used to compile and compose this data into an automated and real-time systemic process. When synchronous ERP, ancillary and core treasury systems collectively feed into the strategic cash flow forecasting process and BI dashboards, the result is a comprehensive view of mid and longer-term flows equaling less effort, more insight and better decision-making.

Enterprise views of cash and liquidity begin with bank connectivity as it provides the needed access to payments, cash and liquidity availability and should always be real-time. However, it is not the end of the story; today’s organizations require more prescriptive, forward-looking capabilities only delivered with information flows like procure to pay and order to cash cycles from the entire unified financial landscape. These holistic, API-integrative systems can generate the business information and intelligence needed to quickly make better decisions and speed the success of today’s organization.

To learn more on how new leading APIs are becoming the standard for how finance and treasury become more than information stewards, but rather catalysts and centers of excellence for better strategic decision-making for their greater organizations – www.kyriba.com.

Click here to view all blogs by Kyriba

Attend the 33rd Finance Symposium | 18-20 May 2022 | Mannheim

20-04-2022 | treasuryXL | LinkedIn |

 

The treasury and finance community finally meets in person again. treasuryXL is proud media partner of the 33rd Finance Symposium.

 

 

For more than 30 years, the Finance Symposium has developed into the most important industry gathering for treasurers and finance managers in the German-speaking world. Every year, around 2,300 finance experts meet to discuss together, make contacts and receive new impetus. The outstanding congress program offers visitors a broad spectrum of professionally challenging topics from finance and treasury management in three days. In over 170 forums, workshops and expert panels, participants will learn about the latest developments in finance and treasury.

 

 

The speakers are high-ranking finance managers from major companies and prominent guests from politics and business. For example, in 2022 Martin Schulz, former President of the European Parliament , and Verena Pausder, entrepreneur and expert in digital education, could be won for exciting presentations and discussions. The most important banks, system providers and financial service providers in the industry will present themselves on 1,000 m2 of exhibition space.

For more information and tickets, visit: www.finanzsymposium.com

 

 

 

Kendra Keydeniers

Director, Community & Partners at treasuryXL

 

 

 

 

Your free eBook, What is Treasury?

13-04-2022 | treasuryXL | LinkedIn |

 

Receive your eBook What is Treasury? after subscribing to the free treasuryXL weekly newsletter.

The world of Treasury is a complex topic. Many people will think about pirates and big see ships that sank deep into the bottom of the ocean including their ‘treasure’. A mystery treasure map will lead the finder to a treasure worth a lot of money. In some way Treasury and Treasure have similarities, it is about money and other valuables.

Are you having a hard time how to explain what treasury is to family, friends and colleagues? Or are you interested to learn more about the World of Treasury?

 

Subscribe and Download

treasuryXL created a 41 pages eBook for the corporate treasurers and the world of finance addict.

This eBook is designed to answer layman questions about the function of Treasury. treasuryXL bundled the most important information for you and created an easy to read and understand articles about the main subjects within the World of Treasury:

This ebook will answer your questions about Treasury topics.

treasuryXL explains the purpose of each Treasury function; what specialists do, examples of activities, FAQs, and a summary.

This ebook is based on the most relevant best practices that Treasury experts provided over the last years. On the website of treasuryXL you can explore additional information on the latest in Corporate Treasury.

 

HAVE FUN READING!

 

 

Kendra Keydeniers

Director, Community & Partners at treasuryXL

 

 

 

 

EuroFinance International Treasury Management returns to Vienna | 21-23 September 2022

08-04-2022 | Eurofinance | treasuryXL |

 

Featuring keynote speakers, Guy Verhofstadt and Göran Carstedt…

The 31st annual EuroFinance International Treasury Management 2022 will return this September with more than 2,000 attendees, 150 speakers, 100 sponsors and exhibitors.

 

 

For the first in-person event in three years, EuroFinance International Treasury Management keynote speakers will include Guy Verhofstadt, member of the European Parliament and Göran Carstedt, former corporate executive of Volvo and IKEA.

The full line-up brings more than 150 global corporate treasury leaders, financial institutions, technology providers and thought-leaders together to discuss the theme “Treasury in transition”, across 12 stages at Vienna’s Messe Wien Exhibition Congress Center from September 21st-23rd 2022.

Guy Verhofstadt is a Member of the European Parliament and co-chair of the Conference on the Future of Europe. He served as prime minister of Belgium from 1999 until 2008 and also made a name for himself as Brexit coordinator and as a passionate champion of more European integration. He will give the opening keynote on day 1.

Dr Göran Carstedt is the former head of IKEA North America and IKEA Retail Europe and former head of VOLVO France and Volvo Sweden. Having run some of the world’s leading companies, Dr Carstedt is also the former senior director of President Clinton’s Climate Change Initiative. He will give the opening keynote presentation on day 2 on how climate change is changing business.

Corporate treasury leaders from some of the world’s top multinationals – including TechnipFMC, Citrix Systems, Kongsberg Automotive, Autoneum, Equinor, Heinz, Medtronic, John Lewis – have also been confirmed.

 

“We look forward to seeing people connecting and collaborating face-to-face once again in Vienna. It’s great to see live events bouncing back across the world and from the response we have had so far,  it’s clear that our community of speakers, banks and technology providers are eager to meet in-person after 2 years of virtual meetings.” says Asif Chaudhury, Managing Director of EuroFinance.

 

Irreversibly changed after the events of the past few years, this year’s theme will explore the “new” treasury; a highly digital and automated function tasked with meeting strategic goals and changing remits against a backdrop of multiple issues from climate change to high inflation. Treasurers will share their experience in practical case studies and technical discovery labs and celebrate the innovations that will drive change.

EuroFinance’s growing list of sponsors and exhibitors for the event includes  J.P. Morgan Chase, Standard Chartered, Citi, Bank of America, BNP Paribas,, Fitch Group, HSBC, Santander Corporate & Investment Banking, Visa, Société Générale, ION, TIS, Remote Technology, B2C2, American Express, Bayerische Landesbank, UniCredit, PrimeRevenue, Northern Trust Asset Management, Credit Agricole, Zanders, ICD, Pictet Asset Management, Raiffeisen Bank, BlackRock, Legal and General, Tietoevry, Amundi, CMSpi, Nomentia, Aviva Investors Global Services, CashAnalytics, Treasury Systems, CoCoNet, Exalog, Traxpay, SisID, Finastra.

For more information and to register, visit: https://www.eurofinance.com/international

About EuroFinance

EuroFinance, part of The Economist Group, is a leading global provider of treasury, cash management and risk events, research and training. With over 30 years of experience, our mission is to bring together the brightest minds and most influential voices in treasury. Through in-depth research with 1,000 corporate treasury professionals every year, we have a unique insight into the trends and developments within the profession and an unrivalled global viewpoint.

Contacts

Marianne Ford
Senior Marketing Manager
EuroFinance

Economist Impact
[email protected]