Partner Interview Series | This is a must read story about Enigma Consulting

27-10-2020 | treasuryXL | Enigma Consulting |

Get inspired by the extensive and catchy story of Robert-Jan Wekking about Enigma Consulting. Robert-Jan takes you into the warm corporate culture, mission, expertise, innovation and their continues investment in knowledge with great examples.

Enigma Consulting is a revolutionary knowledge hub in the field of Payments, Digitisation, Risk & Compliance and Treasury. They are a connecting factor in the financial sector thanks to our consultants’ engagement with their clients, both banks and companies and solution providers.

AN INTRODUCTION TO

Robert-Jan has more than 25 years of experience in payment transactions and he advises corporate clients in the areas of treasury, risk management and bank connectivity.He understands the solutions in the market, both from the B2B and B2C perspective.

Robert-Jan switches easily between executive and operational level within companies and the banking sector, as he easily combines his strategic vision with substantive process and product knowledge. He has a wide network with contacts at all (international) banks, which can speed up the implementation of corporates connectivity with their banks.

We asked him 11 questions. Let’s go!

 

INTERVIEW

1. Tell us more about Enigma Consulting and its mission

Enigma Consulting has in-depth knowledge of all ecosystems that are relevant in payments, transaction value chains and financial markets. Transactional connectivity and digitization increase the prosperity and well-being of consumers, companies and the public sector and thus serve a social interest. Our mission is to contribute to the development of efficient digital transaction traffic and to ensure that this is done in an innovative, sustainable, honest and effective manner with controlled business operations. Combined with a correct attitude and behaviour, this contributes to the translation of legislation and regulations into ethical business operations and a better market position. We follow developments closely, research, analyse and make connections. Our consultants reflect, structure and help organisations to achieve their goals.

2. What is the core topic Enigma Consulting aims to address and how does it differentiate it from the other players in the market?

Digitalization is all about the exchange of data, whether these are payments, information, identities, contracts, signatures or any other regular consumer or business transactions. The complexity of exchanging transactions is constantly increasing; regulations, fraud and data protection are just three of the factors impacting this complexity.  On the other hand, innovative technology is continuously providing easier interaction between data, leading to better and integrated business propositions and making client journeys faster, more friction less and safer.  This is exactly in this domain where Enigma operates.  We leverage our in-depth knowledge of payments and transactions to advise and implement.

We distinguish ourselves from other players by looking at the end-to-end value chain, not only from the viewpoint of efficiency but also with a perspective on regulations and compliance. We understand the guiding laws and regulations and can translate them into practical advice to make sure that our clients remain compliant. We recognize that laws and regulations applying to financial institutions are becoming stricter and that attention is now also shifting towards corporates.

Our legal consultants are specialised in transaction and data related legislation, and we have strong connection with for example DNB and AFM in relation to our guidance of our clients.

Our consultancy practice focuses on the  financial-,  corporate- and retail sectors, hence we understand the complexities affecting those areas. With our knowledge of the ecosystems and  vendor solutions we play the matchmaking role between individual client wishes and the solutions available in the market.

This combination of end-to-end view, legislation and compliancy, working in different sectors, and the matchmaker role gives us a unique position. The fact that we not only advise but also take responsibility for  implementations during the past 20 years, makes us a trusted and recognized partner for our clients.

3. Why choose customers for Enigma Consulting?

Our knowledge of payments and other transaction processes is often the starting point for customers to reach out to us. Our capability to advise and implement solutions from an end-to-end perspective is the basis for our interaction with our customers.  Additionally, customers also appreciate the fact that we are able to advise at a strategic level, but at the same time are pragmatic enough to look for feasible and not theoretical answers.

We have strong relationships with a number of our clients, some even stretching back over more than 20 years. This is something we foster, not only by delivering more than what is expected, but also by working closely together. For instance, our Treasury Barometer is an example where we cooperate with the Rabobank, whilst at the same time we are participating in a number of their projects.

At the end, it all comes together with trust, in the quality of delivery, in our people and in the overall relation. This is how we ensure that we will be shortlisted again the next time.

4. What has been the biggest challenge for Enigma Consulting regarding customer projects so far?

The most challenging projects are when we are asked to take end-to-end responsibility for delivering a complete project. Quite often, this means that we have a team onboard and the client is looking at us as lead consultant to get the job done. A good example is the setup of a complete bank payments infrastructure. Apart from the fact that these assignments are exciting and demanding, it is always challenging to make it happen in an environment with its own complexities.

For our individual consultants, stepping into a new assignment always has its own challenges.

Customers ask for us for different reasons, and our consultants have to quickly adapt to start advising the client. This means not only understanding the clients’ business, but primarily building trust relations with the client and their stakeholders. Hence for every consultant the adaptability towards the new environment is always an important challenge.

For myself personally, I am proud to have led a number of strategic programs, like SEPA, Instant Payments and iDIN.  Besides building completely new products, the key challenge is always to work and build bridges between internal and external parties (Banks, DNB, governmental bodies) with sometimes opposing objectives. Working with all these parties and ultimately developing a new product is what makes me happy and proud of my role as consultant.

5. Can you tell us in what sector you see the most innovative developments regarding payments and how does Enigma Consulting react to these?

One of the most exciting aspects of payments is the continuous innovation in the field. However, it is never a revolution but more an evolution. An example are the digital currencies. I believe that in the long run, these might become as important as, or even replace, the current way of paying. But it will take many years to get there. Where it started with the cryptos and Facebook’s Libra, the central banks are now seriously embracing it.

Additionally, the technical transitions to APIs and SaaS, Open Banking and Instant are ingredients for completely new business innovation. Through API and SaaS, corporates can select best in class software modules and integrate them, rather than select single platforms that will still sub-optimise their process. The introduction of Instant Payments in Europe will ultimately change the way the treasurer needs to forecast and manage their accounts.

In the B2C or C2C world, the client journey will continuously improve, seamlessly and friction less, with data integration as a key element.

Through our assignments, we are constantly in the middle of this innovation. For example, we are the leading consultancy firm in the Netherlands for supporting FinTechs, cryptos and payment software companies with their PSD2 application. Our role in digital identity and Mobility as a Service provides us with insights in yet other areas of innovation.

In order to keep all our consultants informed, we have a weekly meeting with our consultants to discuss the latest trends.

We also leverage this knowledge to assist our clients with their questions around innovation. For this purpose, we have initiated the Enigma Innovation Lab, an accelerator environment to answer client specific questions around innovation, vision building or technical solutions by injecting are our own knowledge combined with our ecosystem of solution providers and subject matter specialists, all facilitated by various methodologies like Design Thinking.

6. Do you experience differences in the world of payments before COVID19 and the time we live in now? What are the differences?

The differences are not that when you look at the regular payment products themselves. But we do see COVID as a steppingstone for digitalization. E-commerce and e-commerce payments have shown significant growth and people are spending increasing amounts of time online. The volumes of payments facilitated by Payment Service Providers are going through the roof.

Also “Cash is King” is the phrase that everybody uses, but this should now be “Digital Cash is King”. Volume of physical cash is dropping significantly, being taken over by contactless payments.

I believe these are just indicators for a bigger change, which is the acceptance of the consumer to step into a full mobile journey.

Customers are now more familiar with working with a cashless wallet and seem also to be willing to adapt faster to other contactless, digital processes. Examples are registration, ordering food and payments in restaurants (for example via QR). But also using mobile apps to order your groceries. Clearly, this has already been taking place for many years, but I believe that COVID has accelerated this transformation through necessity.  People are therefore more willing to change their attitude. What is interesting is whether this transformation will continue, or whether people will step backwards to the old normal or step forward to a new normal.

For the retail sector and corporates, before COVID they already had to understand how to become more relevant in the mobile cashless digital world.  COVID is demanding corporates to speed up this thought process.

7. How does the future of payments look like in your perspective? And how will it change the world?

Digital currencies will be an important element in our future, adopted stepwise, and will be overlooked by market systems and regulators. There will be a continuous drive for integrating payments in the client journey, seamless, frictionless and supporting the Internet of Things. Hence payments will be a key enabler of future growth towards the digital world. Digitization is also very attractive for fraudsters, money laundering etc, as your counterpart is not always visible anymore. The need for trustworthy digital identities will be an important building block for this roadmap.

At the same time, the pressure of fraud, regulations and compliance will shift from banks to other parties (corporates) in the end-to-end value chain. Where banks are currently the gatekeeper, corporates will have to integrate this responsibility in their own business processes.

Hence the roadmap to digital, whether it is digital payments, or any other data transaction, will demand continuous change from all parties in the value chain. This will be a stepwise change, but fast enough to need to keep an eye on it.

8. What has been the biggest success for Enigma Consulting?

The biggest success for Enigma is that we have made a transformation from payments “only” to understanding the full transaction, risk and data value chain. For example, we have made a transition from bank payments to treasury payments and risk processes, but also from payments to compliance, and to integrated transactions and data models.

During this period, we have also changed our internal organisation.  We have been running a number of Young Professional Programs. These next generation talents bring us a more diverse view of the world, which makes our proposition to the market stronger and our internal culture more diverse. As a result, we believe that we have the foundation for supporting our clients, now and in the future, with a passion for payments and transactions.

9. How does Enigma Consulting keep on innovating and stay one step ahead of its competitors?

Our ambition is to be recognised as a though leader in the domain of payment and transactions. Investing in knowledge is the basis for our current and future advisory services.

This means that we continuously invest in gaining and sharing knowledge with our consultants and clients. We have organised this in a number of ways.

We have introduced the so-called Theme Lifecycle within Enigma. When we expect a theme becomes relevant for our business, now or the future, we start a workgroup to progress this theme from idea through different stages. It starts with writing a one pager based on study and analysis, called the exploring stage. We validate the readiness for every next stage (exploring, campaigning, harvesting) so that we invest time in those subjects that also become relevant for the market. All our consultants participate in one or more themes, which helps keep them engaged with innovation and market developments.

Every week we organise meetings to discuss news and articles. On turn, every consultant is responsible to select a number of articles to be discussed during this half hour meeting.

For our clients, we have regular Breakfast and Brains meetings to share our insights and to have open discussions on a specific subject. The success is that clients that even might compete in a certain sector, are always willing to learn and share from our and other clients’ experiences.

Finally, we also participate in and cooperate with FinTechs. We support them by leveraging our network of solutions, whilst their innovative ideas are a good source for future improvements, leading to a broader ecosystem that benefits our clients.

10. We are heading to the end of 2020, can you give us an outlook on the scheduled developments for the upcoming year?

The best outlook would be that we leave COVID-19 behind us, however I think that COVID will strongly influence the developments and investments in 2021. There are a number of scheduled developments which will impact corporate clients. Corporates will have to put their capacity in the IBOR Migration.  Also, the transition to XML messages will impact the operating architecture and bank connectivity of corporates.  In parallel, the transition to instant payments including batches will have to be put on the calendar of the finance function.

And in parallel, it is recommended to continue to look at the potential of open banking and further integration of payments data in the corporate business processes. An example is how payment data can improve the risk profiles of insurance companies.

In summary, enough subjects to keep an eye on. Sitting still and waiting is not an option.

11. A great initiative is that Enigma Consulting supports charity projects, what kind of charity projects does Enigma Consulting support, why and how?

The why should never be a discussion, the real discussion is what you can do. One of our activities is the ZEPA challenge.  Our consultants do like sports, and a lot of them love to cycle. When the transition to SEPA was going on, some of our consultants took the initiative for this challenge: cycling from Zeist to Paris in 24 hours. We have done this now 3 times, and a number of our clients’ employees have also participated.  This year’s event was cancelled, but we are already “ready” for the next challenge. There is not a fixed charity goal, the last charity was support for the education of young refugees.

Apart from the above, we have a warm partnership with “Goede Doelen” charity organisations in Netherlands and facilitate a free payments helpdesk for them.

It is of crucial importance to us to participate in an open and honest society, in which diversity and inclusion are critical. This is important for our own culture, as as an organisation we benefit from our consultants and they, in turn, foster these values in their personal lives.

Partner Interview Series | More than a decade of Treasurer Search proudness

22-09-2020 | treasuryXL | Treasurer Search |

Treasurer Search is founded in 2009. Treasurer Search recruits candidates for both permanent and temporary treasury positions in industry, trade, services and non-profit. They recruit treasury professionals of all levels, from young graduates to senior treasury professionals, for positions including corporate treasurer, cash manager, treasury controller, treasury consultant, treasury analyst, assistant treasurer and group treasurer.

AN INTRODUCTION TO

 

Pieter de Kiewit, Treasury Aficionado, Recruitment Consultant and Owner of Treasurer Search. His market focus is the BeNeLux and Germany, his clients are mainly corporates, non-profit and consultancy organizations. Pieter holds an MSc. in Organizational Science and has over 25 years experience in international recruitment. In many ways he contributes to the Treasury Community by connecting people, companies, education and events.

We asked him 11 questions and 2 bonus questions. Let’s go!

 

INTERVIEW

1. Can you tell us about Treasurer Search and its mission and vision?

In our vision the professional field of treasury will further evolve and serve a broader group of organizations. It is our mission to listen to treasurers, business and HR leaders and make robust matches taking everybody’s interest into account.

2. What was the main reason to start with Treasurer Search in 2009?

For me as a person, my first professional choice was recruitment. In 2009 I worked in the recruitment industry for 15 years in various roles with two international market leaders. I decided I wanted to recruit in a way that suited my clients, candidates and me best. And that an own organisation was the best structure to do so. Already early in my career I searched group treasurers and liked the job type in so many ways. With the expert combination of both recruitment and treasury, I think we can optimize our added value best.

3.  How would you describe your company in 3 words?

Results, expertise, authentic

4. Can you take us with you into your company culture? How would you describe it?

We take pride in what we do, want to show our added value and like our job. We are Dutch, direct, informal and also very much interested in you and what keeps you busy. We are here to stay and want to build long lasting relationships. And we are not afraid to try or even initiate something new.

5. What is, in your perception, the biggest benefit for clients and candidates to work with Treasurer Search?

Understanding the recruitment industry is not hard. What sets us apart from other executive search firms are our treasury expertise which enables us to dig in deeper. And our long lasting relationships. 90% of the candidates we find a position for, we had prior contact with. Over 50% of our revenue is repeat business and we are still growing. Clients like us because we find better candidates, quicker for a fair, market level fee.

6. What has been your biggest challenge since the start of Treasurer Search? And how did you deal with it?

Our USPs are stability and treasury expertise combined with recruitment skills. People who combine these aspects are few. We have taken steps not only forward but also back because new colleagues realized after a while that their motivation did not match the mission of Treasurer Search. By now we have a stable team and cautiously continue moving forward. In recruitment for our own organisation we spent even more time in informing potential colleagues.

7. What is the best learning experience you ever had as business owner of a treasury recruitment club?

The treasury community is an interested and intrinsically motivated group of people. Always willing to brainstorm and join. In order to channel positive input into plans that bring us the results we strive for, we cannot lose focus. That brings best results. Over time I better learned to avoid distractions but are not done learning.

8. In the last 10 years, what are the main differences in the world of treasury & recruitment?

Too many to make a comprehensive list. What strikes me most in treasury is that the professional level of treasurers is going up. Treasurers are nowadays educated at a higher level, better communicators and continue to invest in treasury education. Treasury is getting the platform it deserves.
Also recruitment is constantly changing. The success of a new hire will never be an exact science but we try to avoid risk. New insights and technology in our field resulted in www.treasurertest.com. In my opinion a perfect example of recruitment new style.

9. How do you see the future of the function of treasury?

I hope and expect treasurers will be able to increase their impact. In large corporates they will be able to contribute in strategy, mitigate risk better and save cost. In mid-sized organizations they will find their spot in the CFO team where they are currently not always. The impact of treasury technology cannot be overestimated, one blog is not enough to describe that topic.

10.  How important is treasury in times like these? In times of COVID19….

The cliché “profit is an opinion, cash a reality” is currently felt stronger than ever. The treasurer that cannot show his added value in these times might not be in the right position.

11. Tell us, 10 years from now, what does Treasurer Search look like?

Predicting the future in these times is more daunting than ever, we just celebrated our first 10 years… I hope 10 years from now we can still show stability, treasury and recruitment expertise. Furthermore I hope clients who currently do not have a treasurer are happy we found one for them and also many more clients who are not based in The Netherlands enjoy our services.

BONUS QUESTIONS

What makes you happy in your work?

Results. See that my colleagues are happy in their job and help candidates and clients moving forward.

What are you most proud of in your career at Treasurer Search?

That clients call us again because they like the candidate they hired through us before. That candidates are happy in their job we found them, and for a long time. That we created an organization with employees that like coming to work to a job that pays mortgages and children’s shoes. That the treasury community knows us and knows how to find us.

 

Only 5 days left until the International Treasury Management Virtual Week 2020

| 16-09-2020 | Eurofinance | treasuryXL |

Don’t miss the Treasury Event of the Year! If you haven’t signed up already, here is a reminder to join this great virtual event with incredible speakers and live sessions.

Virtual Event

Now more than ever, we need to learn and engage with other treasury professionals around the world, so that we can navigate and overcome the unprecedented challenges we are facing.

As the current situation unfolds, the role of the corporate treasurer is evolving and becoming more strategic than ever before. The complexities and function of treasury within the business is changing even more rapidly. The question is: What does the future of treasury look like and how will this affect my team? And where can I turn for world-class advice on building resiliency, supporting the business and addressing future challenges?

Look no further than EuroFinance’s International Treasury Management Virtual Week taking place 21-25 September. It will see world-leading treasurers and economists come together to address these issues, deliver big picture global insights and share the essential granular knowledge you and your team need for the path ahead. In the spotlight will be the latest on cash flow forecasting, supply chain finance, tech, liquidity and FX and payments plus much more.

Speakers and Live Sessions

The line-up of speakers is impressive with the likes of Shell, Alibaba Group, HP Inc., eBay, Finnair, Microsoft, Intel Corporation, Schlumberger, Booking Holdings Inc. and Rio Tinto holding centre stage in one of the 75+ live sessions. But don’t worry if you miss a session, they will be available on-demand for you to watch at a time that suits you.

The custom-built virtual conference platform will bring the experience of a live event to life in a virtual world. It offers plenty of opportunities to network and learn from your global peers, plus a smart calendar to build your schedule.

Free Registration

The great news is, the 2020 event comes without a price tag! It is free for corporate treasurers. So, you can get all the world-class expert knowledge and insights you expect from the leading treasury event without the costs of registration, flights, accommodation or even expenses.

What are you waiting for? Set your treasury team up to thrive not just to survive.

Register for free today!

 

Cash is The Whole Royal Family!

26-08-2020 | Olivier Werlingshoff | treasuryXL

Can the treasurer be the linking pin between different departments within organizations?
For cash related topics he or she has to be the linking pin to understand the cash flows within the company and to be in control. When you understand how all departments work and how the financial information is produced by controllers, you can help them and give advice on how to lower trapped cash.

Cashflow

To me the cash flow forecast is the basic of all treasury related items. When setting up the forecast (direct/indirect), it gives you the possibility to dive deep in the risk of FX and take actions to lower them or even better, to develop a guideline on how to handle FX risks in the future. The same can be done for IR risk, debtor risk and all other cash flow related risks. When making the cash flow forecast, you can literally make visual what the effect of a change in payment behavior of your customers or a change in FX rates will be.

The Treasurer’s task

The treasurer has to be in constant contact with all different departments to receive the most actual information. As treasurer, you also have to challenge the different departments on cash related topics. The reason for this is that most of the colleagues are not always cash focused. You have to set up an internal marketing plan to reach all necessary stakeholders (organize meetings, develop reports, mailings, organize events where colleagues can come with cash optimization related idea’s etc…).

Supply chain departments are focusing on delivering on time for production or sales. It is very interesting to focus on the ins and outs of world of supply chain. All goods can be categorized based on the time they will stay in the warehouse as well as the time needed to replace them and the cost of a reorder. When you combine all variables, an optimum can be reach. The information that supply chain and purchasing department can provide you is the order book. This can help you to extent the reliable period of the direct cash flow forecast.


By sitting close to the financial department or the shared service center you can have a better understanding of the payment behavior of clients but also the payment behavior of the company. Is there enough focus on the debtor collection process and is the sales department also aware of the payment behavior of their customers? Are the invoices send on time? Do they use direct debits or are balances on bank accounts swept daily to a master account?


Financial control is a department which is also related to the cash flow forecast. Most of the time they will make budgets of balance sheets and P&L and will make (monthly/ quarterly/yearly) estimations of the working capital parts such as inventory, accounts payables and receivables. By doing so they will be able to predict an indirect cash flow forecast. Are their presumptions for the working capital parts correct? Are they based on the budget sales, or based on the previous years? Most of the time the presumptions explain the difference between the direct and indirect forecast and difficult to track down.

Conclusion

Financing activities such as project financing, supply chain and trade finance can be set up based on a reliable forecast. By increasing the cash awareness in different departments, you will be able to release trapped cash, lower costs and have better control of all cash related items.

Olivier Werlingshoff

Olivier is an operational treasury manager who likes to connect and get in touch with different departments. By doing so he gets the treasury department and the awareness of cash in the picture, gets grip on the cash flow and releases trapped cash as well as lowers costs.
He is available for a permanent/interim position and you can reach him on

+ 31683629427

o.werlingshoff@ziggo.nl.


Does your business need support in Treasury or a Treasury QuickScan?

We have treasurers available, go to Rent a Treasurer for all information.

EuroFinance International Treasury Management Virtual Week 21-25 September 2020

| 25-08-2020 | Eurofinance | treasuryXL |

The pandemic sent shockwaves through global financial markets and confronted businesses with extreme scenarios.

Virtual Event

Now more than ever, we need to learn and engage with other treasury professionals around the world, so that we can navigate and overcome the unprecedented challenges we are facing.

As the current situation unfolds, the role of the corporate treasurer is evolving and becoming more strategic than ever before. The complexities and function of treasury within the business is changing even more rapidly. The question is: What does the future of treasury look like and how will this affect my team? And where can I turn for world-class advice on building resiliency, supporting the business and addressing future challenges?

Look no further than EuroFinance’s International Treasury Management Virtual Week taking place 21-25 September. It will see world-leading treasurers and economists come together to address these issues, deliver big picture global insights and share the essential granular knowledge you and your team need for the path ahead. In the spotlight will be the latest on cash flow forecasting, supply chain finance, tech, liquidity and FX and payments plus much more.

Speakers and Live Sessions

The line-up of speakers is impressive with the likes of Shell, Alibaba Group, HP Inc., eBay, Finnair, Microsoft, Intel Corporation, Schlumberger, Booking Holdings Inc. and Rio Tinto holding centre stage in one of the 75+ live sessions. But don’t worry if you miss a session, they will be available on-demand for you to watch at a time that suits you.

The custom-built virtual conference platform will bring the experience of a live event to life in a virtual world. It offers plenty of opportunities to network and learn from your global peers, plus a smart calendar to build your schedule.

Free Registration

The great news is, the 2020 event comes without a price tag! It is free for corporate treasurers. So, you can get all the world-class expert knowledge and insights you expect from the leading treasury event without the costs of registration, flights, accommodation or even expenses.

What are you waiting for? Set your treasury team up to thrive not just to survive.

Register for free today!

 

Scoren met treasury in kleinere organisaties

| 19-08-2020 | treasuryXL | Pieter de Kiewit

Kosten besparen, business kansen creëren en risico’s verkleinen, dat is wat goede treasury elke organisatie kan brengen, dus niet alleen de multinationals. Als treasury aficionado zie ik dagelijks dat organisaties zichzelf tekort doen. In dit artikel maak ik graag concreet waar ik het over heb omdat ik merk dat velen het vakgebied onterecht complex vinden.

Kosten besparen

Het managen van geldstromen kost geld:

  • De bankier als loodgieter stuurt ook een rekening, vaak alleen niet zo expliciet. Deze rekening is bijvoorbeeld voor transacties en het aanhouden van rekeningen. De realiteit is dat de meeste organisaties en vaak ook hun banken geen voortdurend zicht hebben op deze kosten en dat ze voortdurend wijzigen.
  • Wat ook wel eens gebeurt is dat voor één internationale betaling even veel (per stuk) wordt betaald als voor 5.000 internationale betalingen. Dit terwijl kwantum korting van toepassing is.
  • Wat ik ook regelmatig zie is dat een bepaalde financieringsstrategie is gekozen waarbij een oplossing de markt conforme prijs heeft maar de juiste oplossing niet is. Rood staan op een rekening courant is veel duurder dan een hypothecaire lening. Vaak wordt niet nagedacht over wat de juiste oplossing is.
  • De laatste van vele voorbeelden die ik wil noemen is dat diverse offertes aanvragen bij diverse leveranciers kan leiden tot substantiële kostenbesparingen. Vaak is de huisbank best bereid een lager tarief voor een dollar deal te berekenen en zijn er velen die nog goedkoper kunnen leveren.

Het zijn simpele oplossingen maar de tijd wordt er niet in gestoken.

Business kansen creëren

De gereedschapskist van een treasurer zit vol oplossingen die het verschil kunnen maken tussen een kans verzilveren of niet. Zo zie je in bijvoorbeeld projecten organisaties of bedrijven die leveren in exotische oorden, dat de business stopt op het moment dat de klant pas wil betalen na complete levering. Dat kan te risicovol lijken of het kan zijn dat de leverancier de upfront kosten niet kan dragen met eigen middelen. Via garanties, letters of credit, borgstellingen door de overheid of projectfinanciers kan de business dan soms toch worden gerealiseerd. En besef goed, niet zo lang geleden was (equipment) leasing nog geen geaccepteerde oplossing. Nu kunnen transporteurs verladingen aanbieden en kunnen de vrachtwagen producenten meer produceren.

Risico’s verkleinen

Bij treasury en risico wordt vaak gedacht aan rente en valuta. Dat is terecht, de bijbehorende risico’s moeten prudent worden aangepakt. Een veel belangrijker risico is beschikbare liquiditeit. Goede treasurers kunnen forecasten en ingrijpen om cash beschikbaar te maken voor de organisatie. Extra faciliteiten vanuit de bank, doordacht werkkapitaalmanagement, managen van betalingstermijnen en tools als factoring kunnen het verschil maken tussen overleven of niet.

Hulp nodig?

Met deze korte opsomming wil ik duidelijk maken dat voor iedere organisatie treasury van grote waarde is. Dat kan met een expert op de payroll, met eigen boerenverstand of met een tijdelijke oplossing (Rent a Treasurer). Het gaat niet om complexe materie, wel om de bereidheid af en toe een stap terug te doen en het vakgebied te overzien.

Zullen we overleggen? Wie weet kan ik u in contact brengen met de expert die voor u het verschil kan maken.

 

 

Pieter de Kiewit

Owner at Treasurer Search

Recap of the first ‘Meet the Expert’ interview series and full overview

| 04-08-2020 | by Kendra Keydeniers |

A couple of months ago, we started the ‘Meet the Expert’ interview series with experts from the treasuryXL community with different treasury expertise.

Treasury needs to deal with an increasing availability of alternative financial products, intensifying risk management requirements, regulatory and compliance constraints.

What do our experts think about this rapidly growing movements within the treasury world? What developments do they expect in the future? What opportunities do they see?

We interviewed 10 experts over the last 10 weeks and asked them about their treasury career, experiences, the future of treasury and of course how COVID19 impact treasury from their perspective.

Did you miss an interview? No worries, here is a full overview of the ‘Meet the Expert’ series:

 

 

 

Bertus van de Kamp

Senior Business Consultant & Cash Management Specialist

read interview

 

 

 

 

 

Wim Kok

International Business Consultant & Trade Finance Specialist

read interview

 

 

 

 

 

Aastha Tomar

FX & Derivatives | Debt Capital Markets | MBA Finance | Electrical Engineer | Sustainability

read interview

 

 

 

 

 

Michael Ringeling

Corporate Treasury, Corporate Control and Banking

read interview

 

 

 

 

 

Olivier Werlingshoff

Cash- and Treasury management

read interview

 

 

 

 

 

Ger van Rosmalen

Trade Finance Specialist

read interview

 

 

 

 

 

Francois De Witte

Owner at FDW Consult | Sr. Project Manager at Gaming1 | CFO at Safetrade Holding

read interview

 

 

 

 

 

Arnoud Doornbos

Interim Treasury & Finance | Consultant | FX & Interest Derivatives | Treasury Outsourcing| Risk | Fintech | TMS

read interview

 

 

 

 

 

Vinzenco Masile

Treasury Expert/Credit Risk Manager

read interview

 

 

 

 

 

Arnaud Béasse

Debt Management Specialist

read interview

 

 


A big thank you to everyone that worked with me on this series, to everyone that selflessly shared their knowledge and experience with all of us! You guys rock.

If you’ve enjoyed our series so far, don’t worry, this is just the beginning! We are looking into more perspectives to share with you later this year when we will start the second ‘Meet the Expert’ interview series.

Take care and thanks for reading,

Kendra Keydeniers
Community & Partner Manager at treasuryXL

Rent a Treasurer – Joint Venture treasuryXL & Treasurer Search

| 29-07-2020 | treasuryXL | Pieter de Kiewit

Organisations with treasury exposure, without the expertise. The ones of you who know me longer, know this is one of my favourite hobby horses. For a longer period of time I have been tinkering with many plans to help the aforementioned organisations. This led to contributions to treasuryXL as a community and educational institutes like the Hogeschool Utrecht and the Vrije Universiteit. Now we will work on the obvious: bringing highly skilled treasury interim managers to organisations without a treasurer.

Impact on SME’s

Treasurer Search has a long and solid track record in finding interim treasury managers to large organisations with a corporate treasury function. One of our team members reaches out on a continuous basis to these managers to ask them about their availability, skills and preferences. Many of these managers love to work in smaller size organisations. There they can have real impact, save costs, mitigate risk and create opportunities.

Target audience treasuryXL

One of the important target audiences of treasuryXL is the group of CFOs, group controllers and entrepreneurs who, consciously or not, deal with treasury topics. In the content distributed on the platform the following is taken into consideration: non-technical treasury information on a regular basis with a clear upside-story. The communication channels that are used are also the ones that hardcore treasurers might not tune into but other financials do.

Rent a Treasurer

All the pieces of the puzzle have been on the table for a long time. The plans have been there for a long time and now we will act. As Ben Tiggelaar states: “the gap between plans and success is action”. Through treasuryXL you can “rent a treasurer”, click the link for more information about the concept.

Thank you,

On behalf of Treasurer Search, Pieter
On behalf of treasuryXL, Kendra

 

 

Pieter de Kiewit

Owner at Treasurer Search

Proud media partner of the SCF Forum Europe 2019

| 08-11-2019 | by Kendra Keydeniers |

treasuryXL is media partner of the SCF Forum Europe, the world’s leading supply chain finance conference and awards.

The conference will take place on November 28th, 2019 at the Beurs van Berlage in Amsterdam, The Netherlands.

The SCF Forum & Awards brings together over 300 of Europe’s treasurers, procurement directors, banks, technology vendors and academics to learn from each other and set out the future of Supply Chain Finance. Now in its seventh year, SCF Forum has grown to become Europe’s leading supply chain finance event.

SCF Forum is different from other conferences: with an agenda driven by leading business schools and an ethos that is about learning and networking rather than selling, it attracts the treasurers and procurement directors of corporations that are serious about understanding what supply chain finance can do for their businesses.

See an overview of the event speakers here.

Download the full agenda of the conference here.

The SCF Awards presentations will take place at the end of the conference, showcasing the best examples of supply chain finance from around the world.

Keynote speeches, corporate case studies, plenaries and workshops, together with three breakout streams, make up the most comprehensive review of the state of Supply Chain Finance available anywhere.

REGISTER HERE 

and be part of the SFC Forum Europe 2019. We are happy to provide our readers with a 25% discount code on regular tickets. Use the code TXL25 at checkout.

Already registered? Download the SFC Forum Europe app on your mobile (apple or android)  and receive an exclusive offer by treasuryXL.

Looking forward connecting with you at the SFC Forum Europe 2019.

Kendra Keydeniers
Community & Partner Manager at treasuryXL

 

What does the hiring manager know about treasury?

| 23-05-2019 | by Pieter de Kiewit |

Among corporate treasurers IPOs are always the icing on the cake and I have followed Adyen going public. Very interesting is that besides the obvious reasons like increased investments, money for the founders and employees dealing with their stock options, the strategic partners and clients play a role. Clients like eBay and Uber apparently work better together with a listed Adyen. Food for thought….

What does the hiring manager know about treasury?

At least half of our recruitment assignments starts with a message from our client like this: “we have this treasurer, I do not understand what he does but he is leaving. Can you help?”. Of course music to our ears, happy to help. In recruitment for permanent positions HR is involved, very often they also contribute in interim assignments. HR not knowing in detail about treasury is understandable. Especially when the candidate we search does not report into a senior treasurer but, for instance, a CFO, we also encounter a lack of knowledge in treasury with the hiring manager. Is this a problem and if so, how can this be solved?

You might have seen we contribute in the build-up of the Treasurer Test. One of the groups of people we asked to do the test are “financials, not being treasurers”. Their measurered lack of knowledge and interest in the field is obvious. This is of course not a surprise. Treasurers are, amongst others, responsible for funding, payments, management of currency and interest risk. Important enough for the continuation of the existence of an organisation. How can we prevent this important job lands with the wrong person? Some ideas:

  • A track record as shown in a cv is of course a first obvious. A candidate might be too positive about accomplishments, this can be screened by checking references. Screening CVs without knowledge about treasury might be daunting. Simply key word comparison will not work;
  • Worldwide there are only a few universities that pay attention to corporate treasury. Measuring knowledge through academic qualifications is smart (Register Treasurer, CTP, ACT are the most obvious). Currently less then 20% of the corporate treasury population holds such a degree;
  • The aforementioned Treasurer Test will be launched shortly presents skill level and personality and compares with peers;
  • Including knowledgeable experts in the recruitment process will help. We of course are available. Alternatively involving a specialized treasury consultant in the screening process might also work.

I hope you will be able to find the right next treasury team member, secure business continuity and feel confident with your recruitment decision with the above list. We are available to brainstorm and support.

Pieter de Kiewit

 

 

Pieter de Kiewit
Owner Treasurer Search