E-Book: ERP Migration | How to Simplify and Accelerate Bank Integration

14-07-2021 | treasuryXL | Kyriba |

ERP cloud migration is a costly and time-consuming undertaking, particularly where IT is concerned – and for many corporations, the bank integration exercise can be among the most daunting aspects of the project.

The good news is that companies can simplify and accelerate the bank integration component of ERP migration, and reduce payment connectivity and format costs by up to 80%.

In this latest ebook, you will learn about the IT challenges involved in the bank integration element of ERP cloud migration, including:

  • Following banks’ schedules
  • Navigating geographical variations
  • SWIFT certification
  • Resourcing challenges

You’ll also find out how you can reduce the need for IT resources while minimizing costs, reducing complexity and accelerating the bank integration project.

Fill out this form to get your copy of the comprehensive eBook.

 

 

Are you leaving Money on the Table with your Checkout and Payment Solution?

12-07-2021 | treasuryXL | EcomStream |

Benchmarking your checkout and Payment solution is worth the effort. There are often areas for improvement that are relatively easy to execute or implement.

In 2018, EcomStream has assisted a number of online entrepreneurs, large and small, by benchmarking and optimizing their payment solution and checkout. This results in an improved customer experience and lower costs, sometimes up to 50% cheaper.

In optimization processes the checkout and payment solution is often seen as a functionality with little or no conversion uplift opportunity. Wrongly!

Studies from Baymard Institute show why in this final phase of your sales funnel, where visitors should just go through checkout and payment, they are leaving your site. It also shows what you can do about it.

The Payment solution is often overlooked in optimization projects. “Don’t fix if it ain’t broken” you sometimes hear. Many entrepreneurs are therefore already happy when their online payment solution functions properly and provides basic functionalities. There have been many developments in this area in recent years that make it easier to migrate from a payment service provider and there are considerable savings opportunities thanks to increased competition. You can compare the payments market with the market of energy suppliers but it is far less transparent. Competition is fierce and it is worthwhile to compare, renegotiate or migrate.

Let EcomStream do a benchmark assessment of your checkout and payment solution. You will be amazed by the findings. In the area of customer experience but also with regards to contractual terms and rates. A meaningful agenda item for your next optimization meeting or contact EcomStream now

Refinitiv Corporate Treasury Data Insights | June 2021

06-07-2021 | treasuryXL | Refinitiv |

Andrew Hollins, Director of Corporate Treasury Proposition at Refinitiv, brings you the June 2021 round-up of the latest Corporate Treasury Data Insights.

  1. Issuance of non-U.S corporate USD denominated debt has increased, and is most pronounced in Japan and driven by M&A.
  2. Sign-up to learn more about the rise of digital treasury in India and watch a video to observe how crypto trends are evolving.
  3. Are we witnessing the start of a commodities supercycle? And watch a webinar to learn more about the impact of LIBOR on the need for USD cash market to have fallback rates.

Corporate Treasury Chart of the Month

M&A drives demand for the dollar

We are seeing a continued rise in non-U.S. corporates issuing US$ denominated debt this year, with Japanese companies in particular taking advantage of strong investor demand, favourable interest rates and healthy US$ liquidity (see chart below) to deliver an M&A-driven issuance boom.

For example, we recently saw 7-Eleven raising $10.9 billion to fund its $21 billion acquisition of Speedway, the U.S. convenience store operator.

Being a safe haven currency, 2020 was a period of JPY strength against the USD. However optimism of a strong post-pandemic recovery has seen the JPY give back most of these gains since Q1 2021. Corporates with USD liabilities can monitor market expectations of further JPY weakness using apps like FX Polls and the FX probability feature in Refinitiv Eikon.

USDJPY currency basis spreads narrowed during COVID-19 in response to decisive Federal Reserve monetary support and liquidity provision. You can view these spreads using the Refinitiv Eikon Chart app (CHT).

Get these issuance insights in Refinitiv Eikon

  1. Search for the ‘deals screener’ app ‘DSCREEN’
  2. Select ‘USD’ under the ‘currency’ dropdown
  3. Select ‘bonds’ under the ‘asset class’ dropdown
  4. Add ‘date’, ‘target market’, ‘principal amount’ and ‘industry’ filters

Secure your spot: the rise of digital treasury in India

As treasury evolves into a strategic centre for companies, the adoption of technology becomes pivotal to strengthen resilience and insight. Secure your spot at an event we are co-hosting on 24 June 2021 with our partner, leading TMS company IBSFINtech, and hear from a leading panel of experts, including the Country Head of SoftBank and the Head of Global Corporate Treasury at Wipro Enterprises.

Crypto trends

The world of crypto and decentralised finance is starting to broaden in terms of products and coin offerings. And many of the biggest crypto moves have been preceded by shifts in sentiment that can be picked up from social media sources. Watch this seven-minute video to see evolving cryptocurrency trends and how they can be tracked by analysing social media.

Watch the video: Tracking the Biggest Trends in Crypto – Data on the Data

The start of a commodities supercycle?

You can see the rebound of the Refinitiv/CoreCommodities CRB Index is gaining steam in a directional move comparable with the beginning of the last commodities supercycle in the 2000s.

However, the overlay of several cyclical upswings of different raw materials and the transition towards a low-carbon economy suggests something more complex is happening.

Access FX liquidity in Russia

Discover how Refinitiv is helping local and offshore traders maximise access to a broad range of FX liquidity providers in Russia.

LIBOR transition webinar: why does USD cash market need fallback rates?

Join us on Wednesday 14 July to discuss the USD cash market and the need for fallback rates with the Loan Syndications and Trading Association (LSTA), Wells Fargo and The U.S. Federal Reserve. Sign-up today.

On-demand event: COVID-19 recovery in U.S. power and gas markets

As more countries and markets open up after COVID-19 lockdowns, how will U.S. power and natural gas markets be impacted? Hear what our panel of experts from Refinitiv, IIR Energy and Yes Energy think.

 

For many CFOs, the time is now to embrace AI for Cash Forecasting

05-07-2021 | treasuryXL | Gtreasury |

The chief financial officer (CFO) has never been under as much pressure to deliver more accurate Cash Forecasts – the anticipated revenue, spending, and Liquidity data that acts as the rudder for all corporate decision-making. More precise foresight is essential not only to driving profitability under normal business conditions, but has now become even more crucial as companies try to navigate the continuing wake created by COVID-19.

Read the full Article


About GTreasury

For more than 30 years, GTreasury has delivered the leading digital Treasury and Risk Management System (TRMS) to corporate treasurers across industries. With its continually innovating Software-as-a-Service platform, GTreasury provides customers with a single source of truth for all their cash, payments, and risk activities. The TRMS solution offers any combination of Cash Management, Payments, Financial Instruments, Risk Management, Accounting, Banking, and Hedge Accounting – seamlessly integrated, on-demand worldwide and fully secured. Headquartered in Chicago with offices serving EMEA (London) and APAC (Sydney and Manila), GTreasury’s global community includes more than 800 customers and 30+ industries reaching 160+ countries worldwide.

 

 

Tips & Tricks for optimizing Forecasting & Working capital

| 30-06-2021 | Cashforce |

The economy is poised for a rebound due to pent-up household demand coupled with historically low inventories. Businesses need to start preparing for the surge in orders and ensure they can sufficiently manage working capital and continue to finance their operations in the most efficient way.

Automating key elements of the Order-to-Cash process will allow businesses to absorb this revenue growth with their existing resources, while generating greater sums of liquidity — ensuring they can stay on top of their cash conversion cycles without the need for expensive and risky borrowing.

Watch Rob Harvey from Sidetrade alongside Nicolas Christiaen, CEO & Co-founder of Cashforce.

A few key points discussed in this session:

  • The importance of thinking about the process first to understand your cash flow drivers and to define what you want to measure.
  • Key to automating your processes is to start small, land & expand.
  • Create synergies by effectively combining cash & working capital data.
  • Building the business case internally by calculating the different aspects that bring ROI.

Are you ready for the economy to bounce back?

Watch this session on-demand Here

 

How a Treasurer can really add Value

28-06-2021 | treasuryXL | Kyriba |

”The pandemic has boosted automation in treasury departments and led to big increases in productivity. But that is only the start. The big prize is the value that treasury teams can generate with the man-hours that automation frees up”, says Bob Stark, Head of Marketing Strategy at Kyriba.

The Post-Pandemic Treasurer

The post-pandemic world will not be a return to the previous status quo. In treasury we can look at this in three ways – people, process and technology.

In terms of people, a recent survey showed that 61% of CFOs expect their teams to be working out of the office at least a day a week in future (source: fortune.com 2020). In some ways the combination of working from home and in the office will pose its own problems, with different opportunities for fraud and mistakes. At least working from home all the time provided some consistency! Furthermore, many of the changes that treasury teams had to make suddenly last year will now become permanent.

Now let’s look at processes. Fully 78% of CFOs have changed inefficient workflows during the pandemic, and 82% intend to keep the changes that they have made in terms of automation and digitisation (source: MasterCard 2020). These changes involve the standardisation, automation and streamlining of multiple processes.

Thirdly, treasurers need to digitise and have an enterprise-wide cloud platform; to leverage analytics to assess and improve decision-making; and then to innovate through Artificial Intelligence and Machine Learning to make treasury a better business partner.

There has also been a change in the role of treasury within companies over the past 15 months. During the pandemic, treasury’s involvement in other areas of the business has increased. A treasurer’s objectives often now include more strategic aims, and the remit is likely to expand still further. In many cases this will involve increased shared responsibilities, for example reverse factoring.

Treasurers are progressing from a simple focus on productivity to making liquidity visible and then participating in strategic decisions that really add value. All of which in turn elevates the value of treasurers within their organisations.

How Treasury can add Value

We can all agree that treasurers have the ability to add value. We regularly see our clients make significant productivity gains in terms of man-hours as they automate residual manual functions. In many cases, automating processes can save over 80% of the man-hours involved (source: Hackett Group).

But that is only part of the story. The real value comes from what the treasury team can do with all those freed-up hours. The extra time gained through improvements in productivity allows them to analyse risks (such as counterparty, liquidity and FX risk) and make better, informed decisions, based on real insight and business intelligence. Or perhaps the extra time that automation has made available can reduce the opportunity for fraud. The common aim is to leverage liquidity to drive business growth and turn treasury into a strategic business partner.

Digitisation plays a big role here, especially in areas like payments, which have remained partially manual, for example in sanctions screening. Smart contracts are also increasing, which makes for other savings.

Measuring the impact

In any such analysis it is essential to be able to measure what you are achieving. That starts with liquidity itself: how much do we have? How far forward can I forecast liquidity? How confident can I be in the accuracy of those forecasts? After all, you can only use the “excess” liquidity within your company when you are confident that you aren’t going to need it!

Digitisation is the way to improve the visibility of your liquidity. You can then test the accuracy of your information and decide how to use that asset. You can do this with a scorecard to measure your company against industry peers and assess your level of maturity, from Ad hoc, through Emerging and Standardising to Strategic. You can then highlight the opportunities for improvement

Many of our clients have done just that. For one client, an 88% improvement in cash management and forecasting – thanks to automation – saved over £1m in net interest by unlocking cash that had been lying idle. It also helped the same client to save over £100K in bank fees.

Another client reduced costs by 85% and used the newly spare man-hours to avoid £1.2m in fraud-related costs. They also accelerated ERP migration by 80%. Other savings might include generating free cashflow or protecting the business against financial loss. But all these achievements start with productivity gains that free up treasury staff to do something more valuable within their organisations.

I will leave you with three thoughts: automation and digitisation are here to stay; productivity is an opportunity, not just a saving; and if you are going to add value as a treasurer, you need to be able to measure that saving.

GTreasury Webinar | Essential Treasury Management Dashboards & Reports

24-6-2021 | treasuryXL | Gtreasury |

Join our Partner Gtreasury‘s virtual events and learn more about Essential Treasury Management Dashboards & Reports. With a large array of available reports and dashboards available to help you gain visibility into your organization’s market risk, how do you know which ones are best for helping you achieve your strategic goals?

Learn how critical TMS dashboards and reports can help you achieve your strategic goals

Join us June 29 to explore the value of strategic dashboards and reporting. During this one-hour webinar, we will discuss specific dashboards that provide deep insights to help you facilitate foreign exchange decision-making and execution. We will dig into reports that give you the ability to:

  • Analyze complex data, design superior risk mitigation strategies, and make informed decisions.
  • Gain visibility into foreign exchange exposure and hedge positions in multiple currencies at any given point in time.
  • Centrally manage complex limits scenarios and provide a real-time view of compliance over the full suite of limits throughout your organization.
  • And a whole lot more!
June 29 | 3 pm EDT; 2 pm CDT; 12 pm PDT; 8 pm BST
Complete your registration to join us here!

Does your Online payment solution generate the right value for your company?

22-06-2021 | treasuryXL | EcomStream | Ramon Helwegen

For some treasurers the world of Fintech / online payments / e-commerce doesn’t seem to have too much secrets. Some treasurers are however more distanced from it and would benefit a lot from support in this area.

As a consequence of COVID-19, many Corporates have fast-tracked their digital transformation projects to adapt to direct (online) distribution models. A key component in getting this right, is the revenue flow and the payment solution that comes with it.

The world of payments is dynamic and there is a lot of value to gain, both in performance levels as well as in cost levels. But how would you unlock access to these values in making sure you get value for money.

A few considerations that could cross your mind right now:

  • Are you in the middle of a digital transformation project and your business owners are requesting a payment set-up but you are not sure how to facilitate this at a competitive cost level?
  • Are you getting questions internally about the cost of the online payment solution and the options to save on these?
  • Do you feel that your online payment solution may be just the right area to help achieving your KPI’s around performance and cost savings?

You can consider to perform a benchmark and cost optimization of your payment solution or initiate a tender/RFP project. Both have their own pros and cons, but both deliver value to your company and will lower the TCO of the payment solution. This is where EcomStream can come in. EcomStream can take full ownership of such a project.

Think about it, you do not need this payments knowledge every day, but you would like to be able to call on it at any time. And if the costs of your payment solution would be lower, that would free up budget for growth. EcomStream often works with its clients for the longer term (yet flexible) in making sure they get value for money from their online, or omnichannel, payment solution.

The payments market is dynamic and knowledge quickly becomes obsolete. You would like to obtain the latest knowledge around online payments. That is why it is often just better to obtain payments knowledge externally. Fresh, flexible and independent. Available for you just when you need it, always. You should never again have a feeling that you could have gotten a better deal for your online payment needs, or that you are missing out on value that your business owners may ask for.

With EcomStream, you are always up to date and have access to most recent market knowledge.

Benchmarking your online checkout and payment solution is worth the effort. There are often areas for improvement that are relatively easy to execute or implement. And execution is based on a no-cure no-pay basis.

Your online payment set-up should have your primary attention. Consider to bring in an independent specialist to help you out.

About EcomStream

EcomStream is an independent consultancy and is specialized in optimization of online, omnichannel and marketplace payment solutions, and optimization of checkout flows.

The goal is to achieve much lower costs for you while creating a much better customer experience for your customers.

Thanks to its lean organisational model, EcomStream will help you to reduce the cost of ownership of your payment solution and to improve your ROI, fast.




Ramon Helwegen

 

 

 

 

 

treasuryXL announces partnership with EcomStream to strengthen dissemination of the latest trends for payments solutions and checkout flows

16-06-2021 | treasuryXL | EcomStream |

VENLO, The Netherlands, June 16, 2021 – treasuryXL, the community platform for everyone who is professionally active in the world of treasury, and EcomStream in the Netherlands, an independent consultancy that is specialized in optimization of online, omnichannel and marketplace payment solutions, and optimization of checkout flows, today announced the signature of a premium partnership.

As a marketplace, treasuryXL will offer EcomStream market commentary and insight to its audience. Offering a continuous flow of relevant treasury content, making treasury knowledge available, results in treasuryXL being the obvious go-to platform for its’ audience.

This partnership includes:

  • collaboration on messaging, content production, and visibility
  • mutual distribution on select items of interest
  • collaboration on larger themes: event promotion and speaking, and industry expert contributions and publication

treasuryXL and EcomStream strive for a fruitful partnership where its’ audience are top of mind making sure that (potential) clients are always up to date with the latest news and events in their field, benefit from a comprehensive range of innovative solutions, services and expertise.

About treasuryXL

treasuryXL started in 2016 as a community platform for everyone who is active in the world of treasury. Their extensive and highly qualified network consists out of experienced and aspiring treasurers. treasuryXL keeps their network updated with daily news, events and the latest treasury vacancies.

treasuryXL brings the treasury function to a higher level, both for the inner circle: corporate treasurers, bankers & consultants, as well as others that might benefit: CFO’s, business owners, other people from the CFO Team and educators.

treasuryXL offers:

  • professionals the chance to publish their expertise, opinions, success stories, distribute these and stimulate dialogue.
  • a labour market platform by creating an overview of vacancies, events and treasury education.
  • a variety of consultancy services in collaboration with qualified treasurers.
  • a broad network of highly valued partners and experts.

About EcomStream

EcomStream is an independent consultancy and is specialized in optimization of online, omnichannel and marketplace payment solutions, and optimization of checkout flows.

The goal is to achieve much lower costs for you while creating a much better customer experience for your customers.

Thanks to its lean organisational model, EcomStream will help you to reduce the cost of ownership of your payment solution and to improve your ROI, fast.

www.ecomstream.nl

Nomentia Cash Management Release Info Event

| 15-06-2021 | treasuryXL | Nomentia |

Welcome to the Nomentia 2021 first release information event this year to hear and see the top new features and updates of the Cash Management solution.

The webinar is on June 22nd 15:00 CET / 16:00 EET with a duration of 45 minuten. As we are updating the solution frequently, we will invite you to our biannual release information events so that you can stay up to date with the latest releases. In this session, we will introduce the best picks of the new features from all Nomentia Cash Management modules.

In the webinar, we will cover the following areas:

At the end of the webinar, you will have the opportunity to ask questions.

The webinar will also be recorded and we will send it to you shortly after the webinar has ended.

REGISTER NOW

 

Meet the speakers

Jaakko Kilpinen

VP of Product and Solutions, Nomentia

Jaakko has over 20 years of experience in corporate cash management and has deep expertise in cash forecasting, netting, and In-House banking. Jaakko has previously held e.g. a position as Group Treasurer in a publicly listed Finnish company.

Pamela Quiroga Badani

Solution Manager

Pamela is a finance and accounting professional. Previously, Pamela worked as a Finance Analyst and for the past four years, she has been working with implementations in consultant and project management roles.

About Nomentia

Nomentia is a Nordic powerhouse for global cash management. We believe in a world in which businesses can make the right decisions no matter how unpredictable the times are. Our SaaS-based platform offers solutions for cash forecasting and visibility, global payments with bank connectivity, reconciliation, in-house banking, guarantees, and FX dealing. We serve 2,300+ clients in over 100 countries processing more than 200 billion euros annually. Cash is king!