How to Build a FX Risk Management Policy for Your Business

04-06-2020 | treasuryXL | XE |

If you’ve been keeping up with our blog over the past few weeks, then you should be all caught up on foreign exchange risk. You know that your organization likely has some degree of FX risk, that you should make it a priority to assess your risk level and exposures, and that foregoing FX risk management is one of the most costly mistakes your business could make.

This brings us to our next point: crafting a foreign exchange risk management policy. Having a policy in place is one of the most important steps your organization can take to address foreign exchange risk and volatility in the global currency markets. But if you don’t have a policy in place, or you don’t think your current policy addresses the full scope of your organization’s FX risk, it’s time for an upgrade.

Not sure what to do or where to start? Let us take you through the steps of developing your organization’s foreign exchange risk management policy.

Why do you need a foreign exchange risk management policy?

Here’s the simple answer. If your organization doesn’t have a policy in place to deal with foreign exchange risk, you’ll only be able to respond to situations after they’ve already happened. Instead of acting to reduce your FX risk exposure, you’ll only be able to react to damage that’s already been done.

The markets are constantly moving, and volatility can have a real impact on your business’s bottom line without any warning. Without an FX risk management plan, you’ll only be able to jump into action once the damage has been done, and some of your initial response time will likely be taken up by strategizing over how to properly respond. In that time, the impacts to your business could easily increase.

A comprehensive FX risk management plan will not only give your organization a plan to jump into action in the event that market volatility has an impact on your business, but will also include long-term, ongoing measures to manage currency risk in your business’s day-to-day operations, even in times of muted volatility. By taking steps to reduce your risk exposures now, you can minimize the effects of volatility in the future.

What should your policy cover?

There’s no singular answer to this question, because there’s no such thing as a one-size-fits-all foreign exchange risk management policy. Every policy is different, because an effective policy will address your organization’s FX risks, based on your day-to-day operations and exposures.

There are, however, a few basic elements that every policy should make a point to include.

  • How much foreign exchange risk your business can handle, and over what time periods.
  • The tools your company will use to mitigate said risks.
  • Who in the business is authorized to make decisions about FX risk.
  • A robust process to manage currency risk on an ongoing basis (rather than ad hoc reactions).
  • Long-term strategic planning decisions (as opposed to just day-by-day developments).
  • Measures and action items that can be shared with a group of people, so FX risk management does not fall solely on one key person.

Once the policy has been created, it’s also important that you have a process in place to share it with the company at large, in order for the company to be able to apply risk reduction measures at all times (even if a key decision-maker is out sick or leaves the company).

How often should you update your policy?

At the very least, you should revisit your FX risk management plans once a year. But it might not be a bad idea to reassess more frequently, particularly if your business undergoes changes that could impact its foreign exchange risk.

The following changes would be good opportunities to readjust your FX risk management strategy:

  • An increase or decrease in exposure to particular overseas markets
  • Exposure to new overseas markets or currencies
  • Changes in the outlook for relevant currency markets.

How to get started

If you aren’t sure how to create or develop a risk management policy, we encourage you to discuss this with a foreign exchange specialist. A knowledgeable specialist can assess your FX risk, discuss your options, and help you to formulate the risk management policy that your organization needs for its specific risk profile.

For over 25 years, Xe has been a knowledgeable authority in the global currency markets. They understand foreign exchange risk, they help over 13,000 businesses each year with their foreign exchange and risk management needs.

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 multibillion-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

 

 

 

 

Source

An Introduction to Forwards, Futures and Options | Part 1

03-06-2020 | by Aastha Tomar

Our financial world has now gone through enough crisis. Some learnt from previous crisis and were braced for the next while some were still in their learning phase. The current crisis took everyone by alteration because this time it was not the financial sector which was responsible for the ordain. The fluctuations seen in equity, bond, commodity and currency markets may have become Achilles heels for Corporate Treasurers in current times.

The incumbent state of affairs was such that Corporates had to protect their bottom line while trying to stay afloat. The entire cash flow projections would have gone for a flip for those who didn’t hedge their foreign currency exposure. One way that would have taken a part of vexation away from corporate treasurers due to currency fluctuation is hedging. It would have attenuated the impact of currency fluctuation on investments, borrowings, assets etc .

Let us have a look at the most used and basic methods of hedging in this article :

Forwards

So what are forwards? In a simple language its a hedge product between two parties which freezes your cash flow for a future date. That ways whatever the market situation be on the maturity date of the hedge, your cash flows are locked and predetermined. Whether you are an exporter who can know the exact value of future payments or an importer who can anticipate the exact costs of products; a forward will hedge the risk of currency fluctuation for both.

Features of Forwards :

  1. Specifies the amount, date and rate for a future currency exchange
  2. Parties involved are banks and businesses with foreign currency exposure
  3. They are over the counter products
  4. They can be customized
  5. They need two parties, one buyer other a seller
  6. There is no upfront payment
  7. Determining a currency forward rate depends on interest rate differentials for the currency pair in question

Example :

Suppose you are an exporter based in the Netherlands and you want to sell Dollars in an years time. You know due to current euro zone, corona crisis and negative interest rate scenarios Euro may fluctuate sideways and therefore you want to lock in the price of USD today itself so that one year down the line you don’t have to worry about the fluctuating rates. What do you do ? You approach a bank informing them that you have to sell USD (buy EURUSD) for 1st June, 2021. After basic documentation bank enters with an forward agreement with you . Where in today’s spot rate , the currency premium for one year , the amount of hedge and the maturity rate will be mentioned .

 

Spot EURUSD : 1.08282 (1 EUR = 1.08282 USD )

1 year interest rate for EUR = -.07%

1 year interest rate for USD = 0.7%

 

So after one year based on interest rate parity :

 

EUR 1* ( 1+(-.0007))= USD 1.08282 *( 1+ .007)

0.9993 EUR = 1.090 USD

Therefore 1 EUR = 1.0911 USD

 

Therefore by entering a forward contract today you have fixed your EURUSD rate to 1.0911. Note that because the dollar has a higher interest rate than the EUR, it trades at a forward discount to the EUR.

 

Let us take a simple scenario analysis to make things clearer :

 

Here the forward deal amount is : EUR 1mn

Spot rate on the day of deal is : 1.08282

Forward rate fixed for the deal is : 1.0911

We can clearly see above that if the spot is same as the forward rate on the maturity date then there is no loss or gain, but if spot moves to 1.09250 then the corporate saves USD 1400 on the contrary if spot moves to 1.0900 the corporate wont be able to take advantage of the low price and will have to exercise the forward at 1.0911 as fixed earlier thus letting go of USD 1100.

So if forwards are so beneficial why do corporates still do not execute forwards for all of their foreign currency transactions :

  1. There is some documentation involved and corporates sometimes feel that its time taking and taxing
  2. At maturity date what so ever the actual spot rate be your forward will be executed at the fixed price , and some corporates feel that they may lose a chance to take advantage of better rates.
  3. Banks charge a small fee for entering the transactions which corporates want to save.
  4. Corporates feel the currency wont fluctuate much and hence don’t want to get into forward transaction.

Whatever the reasons be but the main business of corporates is not to use their energies in managing their fx risk but to increase profits by their mainline business hence its always advised for corporates to hedge their fx risk as much as possible to increase efficiency and prevent themselves from unseen shocks.

In our next post in this series we will see a second type of hedge … to be continued. Till then keep learning and be safe .

 

Aastha Tomar

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

Meet our Experts – Interview Wim Kok

02-06-2020 | Wim Kok | treasuryXL

This week you will meet Wim Kok, a Trade Finance Specialist with decades of experience.

Wim started his financial advisory company recently after a long career in the banking industry (> 40 years). During his banking career his interest and focus was always connected to the commodity & trade finance industry both in sales and product innovation. Activities in various senior roles, including relationship management, head of department, change management and start up business (internationally).

Nowadays Wim is involved as independent advisory in supply chain management and digitalisation of the logistic industry. Building bridges, simplifying (trade) finance and logistics. Closing the gap between procurement and finance (treasury).

We asked him 11 questions, let’s go!

1. How did your treasury journey start?

I started working in Treasury (assistant treasurer) during the late 70 ties i.e. my 1st job was with Continental Grain  a New York based grain trading company with a strong foothold in Europe.

The Rotterdam Harbour, at that time, was the physical entry point for US grain coming to Europe.

I worked with 3 merchant banks (Slavenburg, Bank Mees & Hope & Albert de Bary) pooling and netting bank accounts (manually) to optimise currency and debit/credit interest positions for the Rotterdam company.

2.  What do you like about working in Treasury?

I see the treasury operations as a pivotal function within an organisation meaning that you have to know the cash generating mechanics of the company inside out. Seamless use and coordination of cash contributes to a seamless treasury function and an added value for the company.

3,  What is your Treasury Expertise?

I started my career in the late 70ties as assistant treasurer with an American global grain trading company in the Netherlands – My main task was to streamline and optimise the money flows in 8 different main currencies between 3 banks. This was the early start of the cash management development. Later on I moved into the trade and commodity structured finance direction.

4.  Do you have examples of risk mitigation, creation of opportunities and/or cost savings?

Very simple netting and pooling arrangements (interest risks). Discounting receivables, Bills of Exchange, Documentary L/C’s or insurance arrangements, making use of swaps and FX derivatives (currency risks) etc. on the payable side – supplier finance structures making use of the rating of the corporates.

5.  What has been your best experience in your treasury career until today?

That’s difficult to mention as my treasurer career was rather short, but I have seen the position and function grow over the years bridging the silo’s within a company (especially within the bigger corporates).

6.  What has been your biggest challenge in treasury?

At my time with Continental Grain is was the perception of the people. Hugh silo’s between booking /audit and sales / marketing we started to change the perception and managed to bridge the different worlds of finance and commerce by showing that a good treasury function earned additional income.

7.  What’s the most important lesson that you’ve learned as a treasurer?

My most important lesson learnt (and that seems a bit odd having worked within banks for almost 40 years) is: as a larger corporate always make sure you keep your independence in other words select more providers to support you.

8.  How have you seen the role of Corporate Treasury evolve over the years?

Very much in such way that in the bigger Corporates you see nowadays a lot of inhouse banks and for mid & large corporates a treasury function is more or less the standard.

9.  The coronavirus is undoubtedly an unprecedented crisis. In general, can you elaborate on the impact this virus has on treasury from your perspective?

In this respect I would like to refer to the article I recently wrote for TreasuryXL: ”How to simplify procurement and finance in the supply chain” – I think a lot of companies will have to reconsider their current (disrupted) supply chains and financial systems. Companies going into 2021 will have to adopt to the fast changing pace in any discipline or a combination be it digitalisation, IoT, Blockchain, AI, robotics or the Cloud

10.  What developments do you expect in corporate treasury in the near and further future?

Definitely transparency, efficiency and speed will improve dramatically due to interconnectivity of systems and transactions, data protection (and use) and cybersecurity will become a more important factor.

11.  What is your best advice for businesses without a Treasurer?

Try one because a good treasurer will always earn (at least) himself back for the company.

 

Wim Kok

International Business Consultant

Trade Finance Specialist

 

 

 


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

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



Start your International Treasury Management and Corporate Finance course in September 2020

29-5-2020 | by Kendra Keydeniers | Francois De Witte | ATEL

The treasurer is the custodian of the company’s daily liquidity. He manages, anticipates and secures cash flows by ensuring that financial needs are covered.

This cursus will give the ability to assist directly and practically the treasurer of large corporates or to take over the treasury responsibilities in a SME.

The various modules will allow acquiring an in-depth knowledge of the various areas of the “Corporate Treasure” profession.

Registration

This course will start late September 2020. It includes 13 training modules and 5 intermediary exams. It is necessary to complete this form before your official registration. Registration will be closed early September 2020.

Objectives

At the end of this programme, the participant will able to:

  • assist directly and practically the treasurer of large corporates
  • take over treasury responsibilities in a SME.

The various modules will allow to acquire an in-depth knowledge of the various areas of the “Corporate Treasurer” profession.

Programme

Module 0: Introduction to Treasury Management
Speaker: Benjamin Defays / Treasury Manager

  • Corporate Treasurer’s responsibilities
  • Cash management (bank account opening, closing, KYC, Cash pooling, Payments and bank connectivity)
  • Liquidity management (importance of working capital management,
  • Risk management (foreign exchange, fraud, credit risk)
  • Trade finance (general context, intro to bank guarantees and letters of credit)

Module 1: Financial Maths (Focus on treasury & corporate finance)
Speaker: Hugues Pirotte / Professor of Finance at Solvay Brussels School

  • Focus on treasury & corporate finance
  • Time Value of Money
  • Vocabulary
  • Compounding intervals
  • Discount and annuity factors

Module 2: Advanced Excel workshop for treasurers (Dedicated to treasury)
Speaker: Hugues Pirotte / Professor of Finance at Solvay Brussels School

Module 3: Corporate Finance
Speaker: Mikael Pereira / Associate, Finance

  • Valuations
    • M&A’s
    • Portfolios
  • Corporate Financing
  • Corporate Investments

Module 4: Cash Management (domestic and international)
Speaker François De Witte / Consultant

  • Payments (Process, Tools)
  • Liquidity Management
  • Cash-Flow Forecasting
  • In-House Banking
  • Banking Relationship

Module 5: Trade Finance
Speaker: Benjamin Defays / Treasury Manager

  • General contact, cultural aspects
  • Why trade finance in treasury
  • Bank Guarantees, Burgschafts, Surety Bonds, Letters of Credit, Cash against Documents
  • Alterative security instruments
  • Disruptive technologies

Module 6: Credit Control
Speaker: Anca Vasiliu / Counterparty Risk Manager

  • Concepts & Practices/Types of Credit Risks
  • Understanding Financial Statements and Ratios
  • Credit Scoring/Ratings – S&P, Bloomberg models
  • Collecting overdue receivables – setting priorities
  • Strategies dealing with overdue invoices
  • Debt collection services development

Module 7: Pension / Insurance 

  • General introduction on insurances and pensions
  • Typology of insurances
  • Risk management via insurances
  • Saving via insurances

Module 8: Compliance

  • KYC, GDPR, EMIR, Bale III
  • International sanctions and their impact on transactions & overall business activities
  • Anticorruption (FCPA, UK Bribery Act)
  • EU competition law compliance
  • INCOTERMS
  • Drafting a contract (main considerations)

Module 9: Risk Management
Speaker: Patrick Verspecht / Group Treasurer

  • FX, Interests
  • Counterparties
  • Others (Reputation, etc…)

Module 10: Regulations / Accounting
Speaker: Quentin Bodart / Senior Finance Engineer

  • Emir, Mifid 2, Basle II and III,
  • Dodd Frank, GDPR, Fatca, Section 385…

Module 11: Treasury Accounting
Speaker: Quentin Bodart / Senior Finance Engineer

  • Accounting for Derivatives
  • Hedge Accounting, IFRS9 (all from a treasury side)

Module 12: Technologies
Speaker: Patrick Verspecht / Group Treasurer

  • New Technologies
    • Blockchain, Crypto-currencies, Smart Contracts
  • Treasury Console (Bloomberg, Thomson Reuters)
  • TMS, Fintechs

Module 13: Cyber Fraud

  • Why Cyber fraud needs to be considered as a major risk
  • Identify the consequences of a cyberattack
  • Main fraud schemes
  • How to protect against fraud

Some homework might be proposed for some modules, there will be continuous control in the form of intermediary exams (under the form of QCM) and a final exam will be sanctioned by an attestation delivered by ATEL (The Luxembourg Association of Corporate Treasurers).

There might also be one or two “extra-activity”, such as a visit in a bank trading room or/and a special guest speaker addressing the cursus participants on a specific subject (still to be defined, optional events).

Target Audience

Anyone willing to acquire an in-depth knowledge in corporate treasury and wishing to exercise this knowledge in practice.

Prerequisites

  • Basic background in finance or accounting
  • For the Advanced Excel workshop, a preliminary (good) knowledge in Excel is required

Course Material

The course material can be downloaded free of charge via your portal the day before the start of the course (download the Client Portal User’s Guide here).

Certificate

At the end of the programme, the participants will receive a “Certificate of Attendance” delivered by the House of Training, and an attestation of “Exam Success Pass” delivered by ATEL.

In order to get certified, an 80% rate of attendance and a 60% average score on the examinations are required.

The participants will also receive a one-year free membership to ATEL (www.atel.lu) giving a number of advantages.

Register here

 

 

 

 

 

 

Live Demo: Ready for fraud prevention? – TIS shows you how!

| 29-05-2020 | TIS |

 

“Due to unforeseen circumstances this live demo session had to be cancelled. We will inform you once registration for the next session is open”.

 

Live Demo: Ready for fraud prevention? – TIS shows you how!

Friday June 5, 2020 from 2.00 pm to 2.30 pm CEST | 30-minute demo |

See different fraud scenarios in the TIS fraud case study and learn how TIS can help you preventing such cases. They will present different TIS functionalities and will take your high level questions at the end of the session.

  • Free of charge and no further obligations
  • No need for any demo account setup on your system
  • They will show directly how it works
  • On every Friday at 14:00 CET

Date, time and registration

Date: 5 June, 2020

Start: 2:00-2:30 PM CEST

 

 

 

The Impact of COVID19 on the Dutch economy

| 29-05-2020 | Vincenzo Masile | treasuryXL |

Recently, it was determined that the Dutch GDP fell by -1.7% in the first quarter of 2020, suggesting that the economic impact of the corona-virus was mild, at least in international comparison. Although the second quarter is likely to be much worse, the ‘intelligent lock-down’ as dubbed by Prime Minister Mark Rutte, has economically paid off so far.


Given the Dutch economy’s high degree of openness and the fact that Dutch expenditure data for January and February was disappointing, the small GDP decline might be a bit surprising. What stands out as more important, however, is the relative mildness of the Dutch lock-down compared to many Europe. That said, the Dutch government has decided to extend economic support measures by three months until September. The emergency package 2.0 means 13 billion euros of additional fiscal support.

Economic and Financial support

The existing support measures were about to expire by June 1, 2020, but have now been extended until September 1, 2020. Some conditions for public support have been made stricter. For example, firms using the wage subsidy – the main instruments of the support package, will be temporarily (in 2020) forbidden to pay out any dividends or executive bonuses or execute share buy-backs.
The firm will also be obliged to encourage employees to train or retrain and prepare the workforce for future proof jobs. Income support for self-employed people will start to be conditional on the financial position of the partner. Some major restriction to the wage subsidy scheme will be lifted and conditions of the “emergency packages 2.0” are more tailor-made for specific industries. Firms will no longer have to pay a fine for firing workers due to economic reasons, although they will still have to pay back the subsidy. Furthermore, season-sensitive industries will be able to benefit from tweaks to the reference period of their wage bill. The scheme has also been made more generous with respect to the size of the subsidy – 140% of wages instead of 130% (of which they get 90% proportional to turnover losses), in light of the fact that some firms not only have social security to pay on top of wages but also have high non-wage fixed cost.

Apart from the effect of a falling tax base (i.e. automatic stabilization), the direct costs of the extension of the emergency packages have been estimated by the government at 13 billion euro (1.6% of GDP in 2019) for 2020, excluding support for air carrier Air-France – KLM. This comes on top of an existing package of about 14% of GDP (estimates based on government figures), of which 2.2% GDP involved direct net additional expenditures such as gifts, 4.2% GDP in loans and tax deferrals, 1.8% GDP in guarantee and insurance budgets and 5.6% GDP in automatic stabilization for 2020. The bulk of the cost of the extension comes from the direct cost of the wage subsidy scheme and benefits assistance scheme for the self-employed, which mostly qualify as gifts, bringing the total direct net additional expenditures for 2020 to 3.9% of 2019 GDP.

Forward

In line with the earlier announcement, the lock-down will be lifted gradually, allowing for the start of partial economic recovery from the low production levels of April and May. Bars, restaurants, cinemas and theaters will be allowed to reopen on 1 June, generally starting with a maximum of 30 guests at 1.5 meters distance. In the first week of June, all schools including secondary and tertiary will reopen too.

The Dutch government is following other European governments in choosing a path of gradual resumption of economic activity combined with continued economic support. This should mitigate the economic consequences of the corona-virus at least to some extent. However, this won’t prevent the large decline in GDP in the second quarter, after the relatively “mild” decline in the first quarter. It is important to outline the on- going negotiations between EU countries regarding the so-called recovery fund (estimated amount Euro 500 bn.) and the impact on the EU economies.

If a reasonable compromise is reached this can boost the Q3 and Q4 outlook across all EU and the impact on the Dutch economy will be beneficial too.

 

Vincenzo Masile

Treasury Expert/Credit Risk Manager

 

Why FX Risk Management is Crucial for Your Organization

28-05-2020 | treasuryXL | XE |

If your organization deals at all with international currencies, then it will have some degree of foreign exchange risk. Volatility in the currency markets and global events can lead to drastic changes in currency values from day to day, and these shifts can in turn have substantial business impacts.

Some organizations may not have the expertise and resources to formulate foreign exchange policies and risk management strategies, while other organizations might have measures in place that haven’t been updated to reflect their current risk profile. Or maybe a business is under the impression that their foreign exchange risk isn’t as serious as it is, and that other aspects of the business should be of higher priority.

Any organization that works with international currencies in any capacity will face foreign exchange risk, but there’s no one-size-fits all solution: your organization’s risks will be unique to your operation, and an effective risk management strategy will need to be tailored to address your risk profile.

Keep an eye on this blog: we’ll go into further detail about assessing your organization’s foreign exchange risks and developing your own plan in the coming weeks. Today, we wanted to start off the conversation with a look at some of your business’s potential foreign exchange risk factors.

Is your organization making these risk management mistakes?

Whether your business lacks a foreign exchange risk management plan altogether or you’re looking to enhance your existing procedures, it can be difficult to know where to begin.

Below are some of the most common—and costly—foreign exchange mistakes that businesses make. Take a moment to read through them, and consider where your organization falls.

  1. Not understanding your foreign exchange risk level. Do you know if your organization faces any foreign exchange risk? How much? What are your risk factors? What are the potential impacts to your business? Many businesses (particularly smaller ones) don’t know the answers to these questions. Without a proper, thorough risk assessment, your organization could be exposed to risks you haven’t even considered.
  2. Not having a foreign exchange risk management policy. After the risk assessment, the next step for your organization is crafting a comprehensive risk management policy that addresses your potential foreign exchange risk factors. Without a policy, your organization would only be able to react to problems after they’ve already happened and potentially caused damage.
  3. Focusing just on the rates, at the expense of other factors. Exchange rates are one of the most important aspects of foreign exchange, but they aren’t the only important thing. When assessing foreign exchange providers, don’t just look at the rates they offer. Look at the other services they offer and whether they can benefit your business. And be discerning: if something sounds too good to be true, it’s possible that it is.
  4. Not taking advantage of all of the risk management products available. As we said above, every organization is different. A strategy or solution that works for one business might not be the best one for you. Take your time when speaking with foreign exchange providers and make an effort to discuss all of their product offerings.
  5. Getting overwhelmed by complex administration. If your organization is responsible for handling a high number of transactions, the day-to-day processes could be distracting from the bigger picture (and potentially, bigger issues). A foreign exchange provider can help your business to reassess your processes to better suit your business’s needs.
  6. Not having a handle on compliance. Strict regulatory compliance is absolutely necessary for any business that deals with foreign exchange. But from varying national requirements to potentially time-consuming processes, compliance can be difficult for businesses that don’t have the right expertise or resources, and can lead to regulatory delay.
  7. Poor internal communication. If your team members aren’t communicating well with one another, it will be very difficult for your business to make decisions that are best for the business as a whole, and could even lead to conflicting decisions being made by out-of-sync managers.
  8. Working with a foreign exchange provider stuck in rigid processes. Just working with a foreign exchange provider won’t guarantee good results for your business. You should work with a foreign exchange provider that understands your business’s needs and offers variety and flexibility in its solutions. A provider with limited, inflexible offerings may not be able to offer your business what it needs to reduce its risks.
  9. Not shopping around for the right foreign exchange provider. Continuing from our last point, we’d like to emphasize that the right foreign exchange provider will understand your needs and have the expertise and resources to help your business achieve its goals. Don’t settle for the first provider you meet with. Take some time to explore your options and find the one that is best-equipped to aid your business with its foreign exchange risk.

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 multibillion-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

 

 

 

 

Source

Press Release: TIS Raises $20m as Demand Grows for its Leading SaaS B2B Payment Platform

| 27-05-2020 | TIS |

Our Partner TIS (Treasury Intelligence Solutions), a leading cloud platform for managing corporate payments and cash flows, announced it has raised $20 million in additional financing led by Aquiline Technology Growth, an early- and growth-stage fund managed by Aquiline Capital Partners. The round also included participation from existing investor 83North. Aquiline joins previous investors 83North, Target Partners and Zobito. Investment from Aquiline and 83North will be used to continue rapid global expansion.

The company plans to use the new funding to further accelerate product development and to scale operations in Europe and in the US, in order to meet growing international demand. Many globally recognized organizations, including Adecco Group, Bertelsmann, Hugo Boss, Fresenius, Fugro, Lanxess, ManpowerGroup, OSRAM and QIAGEN, already use TIS to standardize and analyze payment flows and to obtain liquidity overview throughout their organizations.

Click on the banner to read full press release.

 

 

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.

Your world of Payments. ONE Login.

www.tis.biz

 

 

Become the next Cash Manager with City Financials Expertise (m/f)

27-05-2020 | Treasurer Search | treasuryXL

Our partner Treasurer Search is looking for a Cash Manager with City Financials Expertise (m/f)

Tasks Cash Manager

The cash manager is responsible for operational tasks like forecasting, payments, liquidy management and bank relationship management. Specifically the use and improvement of the TMS, City Financials, will take substantial time.

Ideal Cash Manager

The ideal candidate for this position has corporate cash management expertise. Only candidates with City Financial experience will be considered.

Our Client

Our client is a multi-billion, international company with a large presence in The Netherlands. 

Remuneration and Process

We are in dialogue with our client about the set of tasks and the ideal candidate for this position. Our first feasibilty study shows a limited number of candidates in the Dutch labour market with City Financials experience. As this is a dealbreaker, we already started communicating with the market mentioning this constraint. We invite candidates with this expertise to contact us and find out if this position might be for them. The Treasurer Test might be part of the recruitment process.

Location

Utrecht Region

Contact person

Kim Vercoulen

 

T: (0850) 866 798
M: (06) 2467 9339
E: [email protected]




Webinar Alert: Treasury Management in the COVID19 crisis

| 26-05-2020 | Francois De Witte

On June 15th, our Expert Francois de Witte will present a Webinar in collaboration with Febelfin-Academy, regarding Treasury Management in the COVID19 Crisis. The Webinar is in Dutch

Omschrijving

Ten gevolge van de COVID19 zijn veel ondernemingen geconfronteerd met cash & liquiditeits problemen. Hoe ga je hiermee om? Welke tools heb je ter beschikking om dit te beheren? Hoe benader je de stakeholders incluis de banken voor bijkomende kredieten.

Deze opleiding heeft als doelstelling om inzicht te geven in:

  • de tools voor het cash & liquidity management en hoe ze te gebruiken;
  • hoe creëer je bijkomende financiële ademruimte: beheer van werkkapitaal – uitstel van kosten;
  • hoe benader je de banken voor uitstel van aflossingen en/of bijkomende kredieten;
  • de inschatting van de risico’s en opportuniteiten van deze nieuwe situatie;
  • het opstellen van een concreet actieplan.

Vereiste voorkennis

Advanced level: biedt praktijkgerichte toepassingen op de reeds verworven theoretische kennis van de “basic level” opleidingen (uitdieping).

Voor wie is deze opleiding bestemd?

De opleiding kan gevolgd worden door verschillende doelgroepen:

  • KMO relatiegelastigden van banken;
  • Financiëel verantwoordelijken van KMO’s en non profit organisaties;
  • Corporate Treasurers.

Programma

Inleiding: Belang van cash & liquidity management

Deel 1: Tools voor het beheer van cash & liquidity management van je onderneming:

  • Wat is mijn cash positie vandaag?
  • Cash forecast voor de komende dagen, of zelfs weken?
  • Beheer van werkkapitaal
  • Cash Burn Rate – Cash runway
  • Dagelijkse stuurgroep Cash Positie
  • Beheer van financiële risico’s

Deel 2: Tips voor het verbeteren van je cash positie:  

  • Beheer van de klantenpost
  • Beheer van de voorraden
  • Beheer van je leveranciers
  • Uitstel van bepaalde uitgaven

Deel 3: Onderhandeling van uitstel vervaldagen of nieuwe kredieten bij de banken:

  • Kredietbeoordeling door banken: aandachtspunten
  • Wat is momenteel voorzien door de overheid, Febelfin en de bank community?
  • Hoe benadert je best de banken: tips en tricks voor je kredietdossier

Deel 4: Risico’s en opportuniteiten – Actieplan:

  • Risico’s en opportuniteiten
  • Tips & Tricks
  • Actieplan

Q & A – Coaching

Pracktische Informatie

  • Duurtijd: 2u30
  • Uren: 10u – 12u30
  • Plaats: Inloggen op online platform
  • Kosten: Leden €160 / Niet-leden: €180

Schrijf je hier in voor de training