What’s Money Transfer really about?

21-01-2021 | treasuryXL | XE |

Don’t let the technical details overwhelm you. Online money transfer is a quick, simple, and secure process for any of your currency exchange needs.

Have you ever sent money via any means that doesn’t require walking into a physical bank to complete the transaction? That’s money transfer. It’s a simple process of receiving or sending money to a local or an international recipient without any physical cash.

Money transfers are usually available in two forms: payment and transfer.

  • When you use a debit card at a store or your boss gives you your paycheck through direct deposit, you’re experiencing small-scale money transfer.

  • When you’re sending money to another account or person, whether it’s across town or across the world, you’re also making a transfer.

There are four key types of money transfer services to choose from. These are:

  1. Wire transfer

  2. Online money transfer

  3. Bank draft

  4. Money orders

You can use any of these methods for local and international money transfers—but not all options are created equal.

What’s the difference between the four types of money transfer?

Wire transfers are one of the common money transfer services that you can use to transfer funds from one bank account to another bank account or to a cash office.

Online money transfer usually involves sending and receiving funds via an online remittance company (such as Xe) anywhere in the world. Users can easily transfer funds from their phone or their desktop computer, and watch them be deposited in their recipient’s bank account within days (or hours, or even minutes). Better still, funds can be transferred in almost all known currencies across the world.

Bank drafts are mostly used for making payments to companies or organizations abroad. A money transfer company or a bank can issue a bank draft and it is cashable at a financial institution. Bank drafts seem to be the most expensive type of money transfer. However, larger companies and institutions prefer using bank drafts because of their audit trail features and security.

To use a money order for sending funds, the sender is required to go to a cash office to create the money order for a precise cash office and recipient to pick up. All the sender has to do is notify the recipient about the money order. It’s the responsibility of the recipient to pick up the money order at the cash office.

What type of money transfer should you choose?

The easiest, fastest, and most reliable method of money transfer is online money transfer. It involves sending or receiving money anywhere across the world instantly via an online remittance service provider such as XE.

For a small fee, you can easily send money abroad to anyone including your spouse, friends, loved ones, colleagues, employers or even your own account in another country. The online remittance service provider you choose (hint, hint, we recommend choosing Xe) will complete the transaction via their secured web-based platform so your recipient can get the money in no time at all.

What makes online money transfer such a great method? Well…

Why should you choose online money transfer over the other methods?

These are the key benefits of sending money via online money transfer:

  • It’s fast, secure, and safe

How soon do you want your recipient to get the money you want to send over to them? If you choose an online money transfer service, your recipient will get the money quickly, making it the best choice when you’re on a deadline. Online money transfer isn’t just fast, it’s also secure and convenient. The process is simple and will take you just a couple of minutes on the phone or online, and your money and information will be secure during its trip around the world. Even more, if your money isn’t transferred or delivered for whatever reason, the money transfer company will inform you and help you to resolve the situation. If you ever need a fast, secure, and safe method of sending money or payments abroad, money transfer is the best option.

  • You won’t pay as much in service charges

Money transfer is the cheapest method of sending money to anyone or making payments either locally or abroad. If you choose the bank-to-bank method of transferring money or use a third-party agent, you’ll end up paying a lot of fees. This is mostly because banks and third-party agents have a larger overhead cost which they transfer to their customers in form of charges. And those upfront transfer fees aren’t the only extra cost—you’ll also get a worse exchange rate, and could be charged additional hidden fees during the transaction. Those costs add up!

In contrast, online money transfer service providers only charge a small sum, and you’ll always know what you’re paying before you confirm the money transfer. So, if you’re interested in paying a lot less for a faster and safer money transfer method, use an online money transfer service like Xe.

  • There’s no paperwork!

Did you just breathe a sigh of relief? Online money transfer doesn’t involve any paperwork. You wouldn’t have to bother about filling paper forms or stacking paper receipts as proof of transactions. You can easily complete all your transactions online without any paper and you can view your transactions history anytime you want. And as an added bonus, if you’re planning to send multiple money transfers to the same recipient, we’ll securely save their information (and yours) for quick transfers in the future.

  • You can get dedicated service

Have you ever had any reason to transfer money during an emergency in the middle of the night or while you’re busy at work? Going to the bank at such hours or even a third-party agent isn’t an option. But with online money transfer, you can easily initiate a money transfer at any hour of the day or night, without even getting out of bed. Online money transfer services have no opening or closing hours. Rather, they are available 24/7 to help you initiate whatever transaction you want. More so, customer support is often available 24/7 as well, making the online money transfer a more convenient option.

  • It’s efficient

If you decide to send money via a bank, here’s what you’ll have to do:

  1. Go to the bank. (Hope you remembered to get your recipient’s information beforehand!)

  2. Wait in line. (Who knows how long that’ll take?)

  3. Once you reach a teller, fill out the transfer paperwork. (Already sent a transfer to this person, at this location? Doesn’t matter.)

Online money transfers have no wait time, and no queues. You’re not required to leave the spot you are in or visit any location to make a money transfer. The entire process is easy, dependable, and efficient.

  • It’s user-friendly

Using an online money transfer platform doesn’t require any skill or knowledge. Rather, online money transfer platforms are user-friendly, easier to navigate and use for any type of money transfer without the assistance of anyone or a third-party. This makes the entire user experience a very positive one giving you the opportunity to complete as many transactions as you want.

Interested in sending money with Xe? Take just 3 minutes to see what you’ll need to do.

Why choose Xe Money Transfer?

  • Sending money via Xe is fast, convenient, user-friendly, and secure.

  • Money transfers are completed within 1-4 business days, but often complete within 24 hours (or less).

  • You’ll get competitive exchange rates for your money.

  • You can transfer money to over 130 countries.

  • You can download the Xe mobile app on AppStore or Google Play and transfer money on the go.

  • Enjoy expert customer support for all transactions and inquiries

  • No hidden fees.

When you make a money transfer through Xe, you can trust that your money will reach its destination quickly, securely, and with no hidden fees.

Are you curious to know more about XE?
Maurits Houthoff, senior business development manager at XE.com, is always in for a cup of coffee, mail or call to provide you detailed information.

 

 

Visit XE.com

Visit XE partner page

 

 

 

Three Basic Principles your Company needs to follow to prevent Payments Fraud

| 20-01-2021 | TIS |

Even the best tech solutions may not help you prevent and detect fraud, if your basic security procedures are insufficient. Based on our experience helping world leading brands set up proper controls against payments fraud, we believe that payment security is a much broader topic than just fraud. Therefore, payment fraud prevention or detection can only be a meaningful exercise when it is an integral part of a company’s overall payment security strategy.

 

Fraudsters come up with new ideas to scam companies all the time. As digitalization transforms the way payments are being made, the risk for cybercrime also increases. Recently, companies have become prey to business email compromise attacks (BEC): Someone will impersonate a high-level manager and tell an employee that due to extraordinary circumstances they need to make a payment right then and there. As the name suggests, this is usually done via email, but fraudsters have become more creative. In some instances, a voice imitation software was used to convincingly fake a manager’s voice on the phone. Because of nefarious scams like this, it is important to raise awareness for security and fraud prevention among your employees.

 

However, fraud is not always an external threat. Often, fraud happens within a company. For big companies it can be a struggle to keep track of all payments that are made across their worldwide subsidiaries – especially, if they are made manually. Unfortunately, fraudulent payments made by employees are usually detected afterwards – if they are detected at all.

It is therefore important to build a payments security strategy that works on all levels. But what does that mean? Where should a company begin?

A good start is to make sure that you have a system where each step of a payment process is visible and well-documented. Remember: Transparency and visibility are the enemies of fraud. You should always have control of all your payments. Standardization of payment processes and workflows is one step closer to better visibility and control. This way, fraud can be stopped before it has even happened. The following three basic principles can lay the groundwork:

1. Segregation of duties

This is a no-brainer. When responsibilities are shared, people can keep an eye on each other. Ideally, every critical payments’ process should involve multiple people or even multiple departments. Suspicious transactions are spotted at once.

2. A single payments’ gateway

Even if your payments are not fully centralized, it is very helpful to have a single payments’ gate. Combined with value-added services such as validation, multi-step authorization and routing, payments can be managed end-to-end. Additionally, centralized data visibility supports internal controls and audit compliance and the monitoring of transactions becomes much easier.

3. Appropriate designation of signature authority

Multi-level approval processes need clearly defined designation of signature authorities. Make sure that your workflows are sufficient and flexible enough to accommodate your company’s needs.

The TIS corporate payments platform has designed many enablers and features for its cloud-based platform to support payment security.  You can standardize and automate your payments processes, enforce segregation of duties, and manage signature authorities from wherever you are.

 

About TIS

TIS (Treasury Intelligence Solutions GmbH), founded in Walldorf, Germany in 2010, is a global leader in managing corporate payments. The Financial Times named TIS as one of “Europe’s Fastest Growing Companies” for 2019 and 2020. Offered as Software-as-a-Service (SaaS), the TIS solution is a comprehensive, highly-scalable, cloud platform for company-wide payments and cash management. The TIS solution has been successfully used for many years in both large and medium-sized companies, including Adecco Group, Hugo Boss, Fresenius, Fugro, Lanxess, OSRAM and QIAGEN. More than 25% of DAX companies are already TIS customers.

 

 

Making a Successful Transformation to SAP S/4HANA

19-01-2021 | treasuryXL | Kyriba |

SAP S/4HANA is SAP’s next-generation enterprise resource planning (ERP) system for large businesses. Many organizations that are currently using the SAP business suite are looking to upgrade to the new solution, often as part of a wider digital transformation.

As a digital core, S/4HANA is the link between the key business functions within an organization, including finance, marketing, manufacturing, procurement and sales. As well as connecting to the SAP ecosystem, it can connect to other cloud-based systems. It harnesses intelligent technologies such as artificial intelligence, machine learning and the internet of things to automate operations, and it connects data, devices and people in real-time.

S/4HANA enables digital transformation in several ways. It reduces an organization’s overall costs, drives business innovation, supports transformation projects and frees up the IT budget for investment in emerging technologies. Yet, while there is a strong business case in favor of S/4HANA, companies often struggle to identify which functionality they need from the platform, and when and how they should migrate.

Why Migrate Now?

Digital transformation is accelerating all the time and S/4HANA is “mission-critical” for digital transformation, explained Promantus’ director and head of Europe, Vikash Roy Chowdhury, during a recent webinar hosted by SAPinsider and sponsored by Kyriba. He added that as S/4HANA optimizes an organization’s digital transformation strategy, “it provides identity, visibility and innovation”.

There are many reasons why organizations should begin their migration to S/4HANA now:

  1. To take advantage of the digital economy and be quicker at getting new products and solutions to market.
     As digital transformation continues to gather pace, business processes will be further automated and new data flows will emerge, enabling organizations to gain better insights, improve their decision-making and foster business innovation.
  2. To avoid falling behind in the digital transformation journey.
    SAP will continue to provide standard support for its on-premise ERP system, ERP Central Component (ECC), until 2027. On the face of it, this commitment may seem a reason for organizations not to migrate to S/4HANA, but there are risks associated with continuing with a platform that has been earmarked for retirement. One risk is that organizations will get a poor return on investment in terms of their technological spend. Another is that they are overtaken by rivals that use S/4HANA’s state-of-the-art functionality to run their businesses more efficiently.
  3. To save money.
    The cost of implementing S/4HANA, and migrating to the platform, is likely to increase substantially over the next few years, as more and more businesses compete to secure resources that can support them with transformation.

The Challenges of an ERP Transformation

Migration to S/4HANA can present some significant challenges to businesses. Typically, the biggest challenge is resolving data issues. Other challenges include a lack of qualified resources, integration of legacy systems, accommodation of custom coding, and understanding the impact of S/4HANA on processes, especially where functionality has changed.

And treasuries have specific requirements in relation to an S/4HANA migration. They want bank connectivity and the integration of their global banks inside the S/4HANA infrastructure. They also want to see accelerated time-to-value (the rate at which the business benefits from the migration) so that they can free up resources from routine work to focus on more strategic activities, such as helping their organization to navigate the Covid-19 pandemic.

Unfortunately, bank connectivity can be one of the most difficult aspects of migration to S/4HANA, or any other ERP for that matter. It can take months – or even years – to achieve. “A lot of times… what keeps these ERP projects from going live is still waiting for the banks,” says Steven Otwell, director of payments at Kyriba.

For this reason, Kyriba is strategically collaborating with Promantus to support migration to S/4HANA from a treasury perspective.

Support for Treasuries

Fortunately, automation can ease the migration process. Promantus has developed a comprehensive S/4HANA transformation tool called ProAcc, which quickly and seamlessly automates all the migration phases, including assessment, pre-conversion, post-conversion and validation.

ProAcc provides a detailed assessment report that includes tailored recommendations for optimization and alternative scenarios, based on the current state. It also offers a single-view dashboard that gives full visibility around the migration process, from discovery to go-live. Furthermore, it acts as a single repository for the sequence of automated activities that take place, including prediction, monitoring, data snapshots, data integrity, configuration checks, and reconciliation.

The speed of migration will depend on an organization’s business and technological requirements, current SAP environment, and data quality and quantity, among other considerations.

Organizations that use ProAcc to support their S/4HANA migration benefit from:

  • Swift, secure and cost-effective implementation
  • Minimal interruptions to critical business processes
  • A tailor-made approach
  • Sequentially automated processes
  • Comprehensive support

“At Promantus and Kyriba, our entire focus is to bring the highest value to corporations in the shortest possible time, and at the lowest cost,” said Johnny Daugaard, vice president of client engagement at Promantus.

Kyriba’s service-based solution includes:

  • Connectivity as a Service.
    Bolt-on bank connectivity for SAP enables organizations to connect with thousands of banks and achieve time savings in excess of 80%. Kyriba has more than 550 active, configured and tested bank solutions for plug and play ERP connectivity. It also monitors bank connection 24/7 on behalf of its clients, with connection managed in different ways including FTP, host-to-host, regional protocols and SWIFT. Kyriba is the largest SWIFT for Corporates service bureau globally, managing more than 20% of SWIFT’s corporate business. As Kyriba’s service is fully outsourced, organizations do not need to employ internal resources to support bank connectivity, which reduces their overheads.
  • Customized Payment Fraud Management.
    This solution uses detection rules, coupled with machine learning, to detect anomalies in an organization’s flow of data from its SAP system to its banks. These anomalies could be possible payment frauds.
  • Payment Format Library.
    Kyriba’s library contains over 45,000 pre-developed and bank-tested payment format scenarios, which are shared across all Kyriba clients. This saves organizations from having to develop their own payment formats for their S/4HANA platform, which can be complicated, expensive and time-consuming – especially when an organization works with a large number of banks. Kyriba simply takes a single payment file from the organization’s ERP and interprets it. It then transforms the file, based on the approved format requirements of the individual banks.
  • Global bank monitoring.
    All incoming and outcoming bank files are monitored, relieving the IT team of the burden of having to work out whether files have been processed. Effectively, an organization’s banking support is fully outsourced to Kyriba.

Conclusion 

Today, organizations are having to react with agility to the challenges posed by Covid-19. Digital transformation is key both to their present survival and their future success – and for many large organizations, this transformation will be underpinned by migration to S/4HANA. Treasury and IT should be closely involved with this migration and carefully consider solutions that enable them to meet their objectives without consuming valuable resources.

 

Cash Management review – Fitting like a glove

| 18-01-2021 | Bas Meijer |

Can you remember when your current Cash Management structure has been set up? Probably at a point in time when there was a refinance, additional funding need or when a new treasurer came on board. The world is changing, your clients and their behavior are changing, therefore probably your Cash Management environment needs changing.

Unfortunately these changes are not automatically translated and implemented into your Cash Management setup. And as not every bank is the same, some banks cannot provide the Cash Management setup your corporate needs.

Reflecting the Cash Management needs every 3-5 years is a good habit. Solutions are evolving, banks are changing their focus & pricing can be renegotiated. But the most important goal is that the Cash Management setup should fit your corporate like a glove, not too big, an certainly not too small.

TreasuryXL has multiple experienced Treasures with up-to-date knowledge and experience, who can help your organisation to achieve these  goals. Maybe your corporate is ready to take the next step, or your Cash Management infra structure is outdated. Is there need for automation, independent banking portal, TMS or market data provider?

From experience this review brings a contribution to the bottom line. But not only in money, also in speed and accuracy. With new tooling your current choices can be reviewed in time, which helps you to make the next steps down the road. The Treasury Department is never static, and should always adapt to the changing environment. Make sure that your Treasury function, how big or small, fits like a glove to the needs of the corporate!

 

Bas Meijer

Treasury Specialist

 

 

 

 

 

Zelfstandig Treasury Adviseur Non-Profit gezocht (Dutch)

15-01-2021 | Treasurer Search | treasuryXL

Zonder uitputtend te willen zijn omvat het takenpakket van de treasury adviseur de volgende aspecten:

  • Opbouwen en onderhouden van relaties met bestaande en nieuwe klanten;
  • Verzamelen en analyseren van (niet-)financiële informatie, specifiek aangaande balans, financiering en bijbehorend renterisico profiel;
  • Opstellen en presenteren van adviezen aangaande financieringen en het afdekken van renterisico’s;
  • Voortdurend volgen van de voor de klantgroep relevante financiële markten en wet- & regelgeving. Proactief en op aanvraag deze expertise delen met opdrachtgevers en in diverse gremia;
  • Actief bijdragen aan de groei en professionalisering van de onderneming, inhoudelijk, commercieel en organisatorisch.

Profiel ideale Treasury Adviseur Non-Profit

De ideale treasury adviseur heeft een afgeronde academische opleiding en een relevante expertise in financieringen en renterisico’s. Zij heeft een up-to-date netwerk en haar consultancy vaardigheden zijn bewezen. Zij kan haar expertise hebben opgedaan in een non-profit organisatie (overheid, zorg, woningcorporatie, onderwijs, etc.), bij een consultancy organisatie of een bank. Essentieel is dat zij, aantoonbaar, succesvol kan zijn in een kleinere organisatie. Haar prioriteiten moeten aansluiten bij die van onze opdrachtgever, hetgeen zichtbaar is in integriteit, oprechte interesse en natuurlijke nieuwsgierigheid.

Onze opdrachtgever

Onze opdrachtgever weet zich al decennialang te onderscheiden van andere treasury adviseurs door zich volledig te richten op de non-profit sector, door inhoudelijke expertise en een bij de klantengroep & vakgebied passende bedrijfscultuur. In dialoog wordt de relatie gelegd tussen de doelen en ambities van opdrachtgevers en hun financiële structuur. Steekwoorden die horen bij hun cultuur zijn integriteit, lange termijn relaties, oprechte interesse, brede en diepe expertise. De organisatie maakt een gestage groei door en investeert gericht in organisatieverbetering. Consultants zijn inhoudelijk gedreven professionals die op collegiale wijze samenwerken, er is geen voelbare hiërarchie.

Arbeidsvoorwaarden & Proces

Onze opdrachtgever biedt een passend arbeidsvoorwaardenpakket. Onze opdrachtgever groeit graag verder maar doet geen concessies aan kwaliteit: de lat ligt hoog. Expertise, persoonlijkheid en netwerk van de kandidaat moeten goed zijn.

Contact person

Pieter de Kiewit
T: (0850) 866 798
M: (06) 1111 9783
E: [email protected]

 

APPLY HERE

 

COVID-19 vaccine rollout: how might it impact global currencies?

14-01-2021 | treasuryXL | XE |

As 2020 drew to a close, news broke of multiple vaccinations for the COVID-19 virus, and each nation began discussing its plan for distributing the vaccine.

At this time, we are still in the early stages of the vaccine rollout, and many nations around the world are still in the process of vaccinating their highest-priority individuals and preparing for the eventual larger-scale distribution.

As some start to dream about a return to life outside of lockdowns and social distancing, others are wondering what the news of the vaccinations—and their eventual distribution—could mean for major global currencies and economies.

Has anything recently impacted the US dollar?

Several recent happenings have led to an impact on the USD.

First, the dollar may see a very short term sentiment impacted by Donald Trump’s removal from office. President elect Joe Biden has stated that he will announce an economic plan on Thursday, 14 January, to navigate through the COVID-19 pandemic and an eventual reopening. While the specifics of this plan are not known at this time, we do know that this plan will be worth “trillions” of dollars and will entail massive infrastructure spend.

Recent minutes from the Fed have shown us that the US Central Bank quantitative easing (QE), and that interest rates will continue to be low for the foreseeable future.

Finally, U.S. treasury Yields recently rose to 10 month highs.

What does this mean for the dollar?

The above events resulted in an end to the recent weaker dollar. Instead, the dollar has been strengthening against its major trading counter parties.

How are other currencies being impacted by the vaccine roll out?

The sooner a nation can widely distribute immunizations, achieve herd immunity and therefore see its economy back and open for business, the better it will be for their economy and currency.

It is currently estimated that once 70-90% of the population has been vaccinated, the sooner lock down restrictions and the “handbrake” on the economy can be released. Because of this, markets are tracking the current vaccine numbers and the planned numbers in the weeks and months ahead as an indicator of which economies will bounce back and which currencies will strengthen first.

Currently, the US dollar and the British pound are poised to see positive change. As of January 8, 2021, the United States ranks 4th in the list of vaccination doses per country, with 2.02 doses administered per 100 people in the population. The United Kingdom ranks 6th, with 1.94 doses per 100 members of the population as of January 3, 2021.

On the other hand, as a result of Europe’s comparatively slow start to the vaccine roll-out, the Euro currently appears to be in a vulnerable position.

What can you do?

If the past year has demonstrated anything, it’s that one can never predict what may happen. The most important thing that you can do is ensure that you’re prepared for market volatility and market motion in all directions.

 

Get in touch with XE.com

About XE.com

XE can help safeguard your profit margins and improve cashflow through quantifying the FX risk you face and implementing unique strategies to mitigate it. XE Business Solutions provides a comprehensive range of currency services and products to help businesses access competitive rates with greater control.

Deciding when to make an international payment and at what rate can be critical. XE Business Solutions work with businesses to protect bottom-line from exchange rate fluctuations, while the currency experts and risk management specialists act as eyes and ears in the market to protect your profits from the world’s volatile currency markets.

Your company money is safe with XE, their NASDAQ listed parent company, Euronet Worldwide Inc., has a multi billion-dollar market capitalization, and an investment grade credit rating. With offices in the UK, Canada, Europe, APAC and North America they have a truly global coverage.

Are you curious to know more about XE?
Maurits Houthoff, senior business development manager at XE.com, is always in for a cup of coffee, mail or call to provide you detailed information.

 

 

Visit XE.com

Visit XE partner page

 

 

 

The future of trading: The rise of data analytics in trading

11-01-2021 | treasuryXL | Refinitiv |

 

Redefining data: What is your strategy?

With more information available than ever, traders must find the right data, make sense of it, and ultimately take action.

 

 

With more information available than ever, traders must find the right data, make sense of it, and ultimately take action. Unstructured information, the explosion of alternative data, and the need for trusted sources makes an already daunting task even more complex.

 

In our second report with Greenwich Associates on the trading desk of the future we explore the data that will keep markets moving over the next 3-5 years. With an overwhelming 85% of those surveyed planning to increase spending on data management, the value of financial data is clearly increasing.

Alternative data tops the list of most important data types, but is only useful if traders trust the source. When it comes to issues of scale and trust, 41% of those surveyed will rely on large financial markets data aggregators. Finally, analytics to interpret existing, new and unstructured data are becoming as critical as finding the data itself.

 

The bottom line? Everyone needs a data strategy.

 

Download & Acces full report

 

 

How FX Providers Can Help Prepare You for Market Motion

07-01-2021 | treasuryXL | XE |

Currency market moves caught you off-guard? You’re not alone. By working with a knowledgeable FX provider, you can minimize the effects on your business.

Woman looking at financial graphs

No matter when you check, the currency markets are constantly moving. Currency values are subject to drastic change seemingly at the drop of a hat.

Volatility in the financial markets isn’t random; changes in currency values are a direct result of real-world factors. Examples of the real-world events that can lead to increases and decreases in currency values include:

  • Natural disasters

  • Recessions

  • Inflation

  • Interest rates

  • Political happenings

It’s not uncommon for the markets to have slower periods of muted volatility, low interest rates, and steady returns in equity markets. But on the other hand, drastic changes can strike seemingly out of nowhere.

Volatility in the markets can have powerful, tangible impacts on businesses around the world. Corporate finance departments, treasury groups, CFOs, and business owners will be the ones left to face the consequences.

What could this mean for your business? Volatility in the markets can potentially:

  • Raise import costs

  • Reduce export sales margins

  • Make your product less competitive

  • Possibly disrupt your business plans for 2020 and beyond.

Manage FX risk with Xe

Your corporation doesn’t need to wait until the markets have already started moving to take action. FX volatility is a risk you can manage, and comprehensive FX risk management measures can help your organization to reduce the impacts of market volatility and account for future shifts in the market.

Many organizations lack FX risk management programs. Some feel that FX risk isn’t a major risk to their organization, while others lack the expertise or resources to implement the effective measures that their organization needs. Partnering with a knowledgeable FX provider can help your organization to manage its currency risk.

At Xe, we have been operating in the currency business for over 25 years as a knowledgeable authority. We have extensive knowledge of the markets and comprehensive product offerings including FX risk management tools to to help you and your corporation manage your currency risk with expert, tailored solutions.

 

Get in touch with XE.com

About XE.com

XE can help safeguard your profit margins and improve cashflow through quantifying the FX risk you face and implementing unique strategies to mitigate it. XE Business Solutions provides a comprehensive range of currency services and products to help businesses access competitive rates with greater control.

Deciding when to make an international payment and at what rate can be critical. XE Business Solutions work with businesses to protect bottom-line from exchange rate fluctuations, while the currency experts and risk management specialists act as eyes and ears in the market to protect your profits from the world’s volatile currency markets.

Your company money is safe with XE, their NASDAQ listed parent company, Euronet Worldwide Inc., has a multi billion-dollar market capitalization, and an investment grade credit rating. With offices in the UK, Canada, Europe, APAC and North America they have a truly global coverage.

Are you curious to know more about XE?
Maurits Houthoff, senior business development manager at XE.com, is always in for a cup of coffee, mail or call to provide you detailed information.

 

 

Visit XE.com

Visit XE partner page

 

 

 

Executive Briefing: The Next Gen Architecture for a Digital Treasury

07-01-2021 | TIS |

 

Read TIS’ new executive briefing “The Next Gen Architecture for a Digital Treasury”
and find out how to digitalize treasury with a best-of-breed ecosystem!

 

Leverage the expertise of multiple specialists with seamless API integration and cloud technology. Find out more about:

  1. Advantages of specialist vendors compared to All-in-One solutions for treasury
  2. How seamless data flow through API integration can deliver better user experience and faciliate strategic business decisions
  3. How to set up a best-of-breed solution that is tailored to your company’s treasury needs and future growth

About TIS

TIS (Treasury Intelligence Solutions GmbH), founded in Walldorf, Germany in 2010, is a global leader in managing corporate payments. The Financial Times named TIS as one of “Europe’s Fastest Growing Companies” for 2019 and 2020. Offered as Software-as-a-Service (SaaS), the TIS solution is a comprehensive, highly-scalable, cloud platform for company-wide payments and cash management. The TIS solution has been successfully used for many years in both large and medium-sized companies, including Adecco Group, Hugo Boss, Fresenius, Fugro, Lanxess, OSRAM and QIAGEN. More than 25% of DAX companies are already TIS customers.

www.tis.biz

The difference between the price of petrol at the gas station and the price of oil in the market (Dutch Item)

06-01-2021 | Erna Erkens | treasuryXL |

 

Weet u waarom er een verschil zit in de benzineprijs aan de pomp en de olieprijs in de markt? Hoe staan die met elkaar in verhouding?

 

  1. Hierboven de opbouw van de benzine-, diesel- en LPG prijzen en hun samenstelling.
    Dit zijn adviesprijzen. Die betaal je eigenlijk alleen langs de grote weg.Hieruit blijkt dat de inkoop van de diverse onderdelen maar een beperkt deel uitmaakt van de prijs door de accijns en de BTW. Blijft bij mij toch nog de vraag hangen waardoor prijsstijgingen altijd sneller te zien zijn aan de pomp dan prijsdalingen? Een totaal antwoord heb ik bij mijn zoektocht niet gevonden. Wel wat er nog meer van invloed is behalve de accijns en BTW toevoeging.
  2. Tussen de winning van de ruwe olie en de verkoop van de benzine aan de pomp zitten verschillende stadia van productie. Ruwe olie bestaat uit verschillende onderdelen met elk zijn eigen productie- en handelsstadia. Alle verschillende onderdelen zullen op hun eigen manier deze prijsverandering moeten verwerken en daar kan dus een verschil in tempo en prijs ontstaan.
  3. Benzine wordt in meer producten gebruikt dan alleen maar als brandstof in auto’s. Als de vraag groter wordt van bijv. de chemische industrie kan dit ook een opdrijvend effect hebben op de benzine aan de pomp. Groeiende vraag bij gelijk aanbod is hogere prijs! Dalende vraag bij gelijk aanbod is een dalende prijs. In die situatie zitten we op dit moment.
  4. De ingekochte olie wordt vaak gekocht op de termijnmarkt. Dit betekent nu een vaste prijs maar levering over een paar weken of paar maanden. Dus de benzine in de pomp vandaag is olie die al maanden geleden is aangekocht. Dus zit er ook tijd tussen de prijsaanpassing aan de pomp en de prijsstijging of daling van de actuele olieprijs. Op deze termijnmarkten wisselen partijen (scheepsladingen olie) soms wel 8 keer van eigenaar voordat er sprake is van daadwerkelijke aflevering van de olie. Dagelijks wordt gemiddeld 20 x de opgepompte hoeveelheid olie verhandeld.
  5. Er wordt voor de olieprijzen vaak gekeken naar WTI olie (voor de VS in mijn overzicht) en de Brent (voor Europa). Dit zijn eigenlijk vrij kleine olievelden en deze prijzen dienen als een benchmark (gemiddelde) voor de olie.De prijzen van de olie van andere velden kan best afwijken van deze benchmark. Soms zit er wel 10% verschil tussen. Dit hangt weer af van land / voor wie de olie is en of de olie makkelijk te delven is.
  6. De koers van de EUR/USD. Of een vat olie USD 30 kost met een koers van 1.15 = EUR 26.09 of USD 30 met een koers van 1.05 = EUR 28.57Dat maakt 9.5%  uit. Verder zijn er ook nog andere risico’s (transport, economisch, politiek) die afgedekt moeten of kunnen worden. Dit kan ook een onderdeel van de prijs zijn.
  7. Prijzen van benzinestations in de omgeving. Als je iets lager zit qua prijs en je verkoopt meer dan heb je toch een betere dag!
  8. Transportkosten. Het hangt ervan af waar de olie vandaan komt en waar hij naar toe moet!

Zo zie je maar dat de olieprijs wel belangrijk is voor onze benzineprijs, maar dat er nog heel veel dingen van invloed zijn op onze benzineprijs. En een stijging van de olieprijs wordt gek genoeg altijd sneller ingeprijsd, dan de daling. Maar die extra centen zijn dan voor de pomphouder en die verdienen er maar mondjesmaat aan. Er is toch iets geks aan de hand. In de vorige crisis was de olieprijs hoger dan nu maar de benzineprijs lager dan nu. Dat werd niet gecompenseerd door het koersverschil. Zo blijven er altijd bijzondere verschillen.




Erna Erkens
Owner at EEVA
Bron