OpusCapita shares exciting news – A Nordic Powerhouse

| 07-09-2020 | treasuryXL | OpusCapita |

In July OpusCapita and Analyste announced that they entered a transaction. Now the companies are about to launch the new company they form together.

Make sure to sign up here to be the first to know more.

 

About OpusCapita

OpusCapita enables organizations to buy and pay quickly and securely, with a real-time view of their business. OpusCapita customers use their source-to-pay and cash management solutions to connect, transact and grow. OpusCapita processes over 100 million electronic transactions annually on its Business Network.

 

 

Visit OpusCapita

Visit Partner Page

Read Customer Success Stories

3 reasons why your Startup fails

07-09-2020 | by Rowan Hermes | Symbid

Startups are popping up like mushrooms. There are plenty of wonderful success stories from startups conquering the world. But just as soon as they start up, they also go down. It is sometimes said that 90 percent of startups fail. Fortunately, the actual percentage is lower, but the fact remains that making a startup successful is not that easy. We list the three most common pitfalls.

Blog is in Dutch language:

Source

Partner Interview Series | A deeper dive with Paul Simpson from Kyriba

01-09-2020 | treasuryXL | Kyriba |

In the upcoming weeks, you will get inspired by the treasuryXL partner interviews. Each interview will be different, the only thing we can recommend: Learn, Discover and Enjoy!

The first interview to start with is Kyriba where we will take a deeper dive into their recent hosted webinar about Mitigating Fraud With a Corporate Payment Hub.

AN INTRODUCTION TO

 

Paul Simpson is Strategic Payments Director at Kyriba who also was one of the presenters during the webinar in July.

We asked him 9 questions and 3 bonus questions. Let’s go!


INTERVIEW

1. Can you tell us about the Corporate Payment Hub and your specific role?

My role is to promote the Kyriba Payment Hub, to make customers and prospects aware that we also have a powerful payment module. Often people think of Kyriba for TMS, but we have far more to offer, for example an anti-fraud solution in addition to payments. As part of my role at Kyriba, I look at the constantly changing payment landscape to inform treasurers and finance teams of these changes, whether that’s regulatory or technological. The Kyriba Payments Hub detangles what I call the “ERP payment spaghetti”, streamlines global bank connectivity and format transformation, whilst providing companies with real-time fraud detection. This can also accelerate ERP cloud migration projects.

2. What is the core issue the Corporate Payment Hub aims to address and how does it differentiate it from the other players in the market?

Essentially a payment hub gives our clients a single, consolidated point of access across bank accounts, giving the ability to set up payments, define different payment types and provide notification of pending approvals. Kyriba provides this visibility by consolidating payment streams from different systems – ERPs, finance, treasury, legal, capital markets and decentralised teams, thus transforming dis-aggregated processes into a single source of record for all outgoing payments, all done with built-in fraud detection. We also, uniquely, support and maintain a “bank” of over 45,000 bank formats in-house via our bank formats team. This allows the payment hub to transform payment data into bank-specific file formats and connects directly with global banks via multiple protocols, including host-to-host, SWIFT and regional networks. Other providers build each bank format for each customer at a high cost and development time. The Kyriba payment hub is designed to work across different ERP solutions, whereas ERP systems will not work across other instances.

3. Can each ERP work with the Corporate Payment Hub also when you work with multiple ERP’s located in different countries?

Absolutely. The Kyriba payment hub is designed to work with multiple ERP systems across different countries.

4. What are the most common fraud scams that businesses are dealing with?

Fraudsters are trying to use the current crisis to their advantage. With people working from home, for example, they may attempt to ask finance to make payment to a new bank account – knowing the sign off process is not as robust as it was when teams were all together in the office.

5. What’s the difference in Fraud Scams before COVID19 and the time we live in now?

We have research that shows the number of fraud scam attempts is up by nearly a 1,000 times since Coronavirus. The finance sign-off process for making payments are defragmented as people are working from home. This is where the Kyriba payment hub can bring standardised workflows, sign-off and approvals together to help eliminate fraud

6. What critical elements of Fraud are often overlooked by businesses?

Businesses fail to use AI and machine learning in addition to rule-based technology and processes to reduce fraud. This is a key component of the Kyriba Payment Hub

7. What has been the best experience of one of your customers working with the Corporate Payment Hub?

We are able to cut the time and cost of a customer migrating their ERP solutions to the cloud, as we can handle all the payment connectivity and formats etc “out the box”, thus saving the company many 100,000s of Euros, and 6 months or more in time, whilst also providing and standardising work flow sign off processes etc.

8. What is, in your perception, the biggest benefit of a working with the Corporate Payment Hub?

True, real-time visibility of all payments, from all systems, in one place with enhanced fraud protection and built in work flow.

9. What is your best fraud prevention advice for businesses?

Prevention is always better than cure! I always preach this. Always use combined workflow and AI / Machine learning technology together – the best of both worlds.

BONUS QUESTIONS

Have you ever experienced a fraud scam yourself? If yes, how did it impact you?

I have never experienced a fraud scam myself, the protection I had in place alerted me to a potential scam and I took action.

How are you defending yourself against payments fraud?

Every payment has to be checked via a rule and AI/Machine Learning process.

How does the future of fraud prevention look like in your perspective?

Fraudsters are getting more sophisticated, with only 6% of Corporates using machine learning/AI, they need to use the latest technology or be left behind and suffer fraud.

About Kyriba

Kyriba is the global leader in cloud treasury and finance solutions, delivering mission-critical capabilities for cash and risk management, payments and working capital solutions.

Kyriba empowers CFOs and their teams to transform how they activate liquidity as a dynamic, real-time vehicle for growth and value creation, while also protecting against financial risk. Kyriba’s pioneering Active Liquidity Network connects internal applications for treasury, risk, payments and working capital, with vital external sources such as banks, ERPs, trading platforms, and market data providers. Based on a secure, highly scalable SaaS platform that leverages artificial and business intelligence, Kyriba enables thousands of companies worldwide to maximize growth opportunities, protect against loss from fraud and financial risk, and reduce costs through advanced automation. Kyriba is headquartered in San Diego, with offices in New York, Paris, London, Frankfurt, Tokyo, Dubai, Singapore, Shanghai and other major locations.

Visit Kyriba

treasuryXL announces collaboration with Refinitiv, one of the world’s largest providers of financial markets data and infrastructure

| 27-8-2020 | treasuryXL | Refinitiv |

VENLO, The Netherlands, August 27, 2020 – treasuryXL, the community platform for everyone who is active in the world of treasury, and Refinitiv, one of the world’s largest providers of financial markets data and infrastructure today announced the signature of a premium partnership.

The collaboration aims at offering a continuous flow of treasury content, making treasury knowledge available. This collaboration includes:

  • collaboration on messaging, content production, and visibility
  • mutual distribution on select items of interest
  • collaboration on larger themes: event promotion, speaking and experts contribution, publications

With this collaboration, treasuryXL and Refinitiv are striving to make sure that treasurers are always up to date with the latest news and events in their field.

According to Kendra Keydeniers, treasuryXL “We are very excited to welcome Refinitiv in our community. Refinitiv is one of the world’s largest providers of financial markets data and infrastructure, serving over 40,000 institutions in over 190 countries. Refinitiv will have a prominent role in the Treasury Topic environment with coverage in corporate finance, risk, cash management, working capital management & treasury software which is a considerable contribution to our ecosystem.”

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 Refinitiv
Refinitiv is one of the world’s largest providers of financial markets data and infrastructure, serving over 40,000 institutions in over 190 countries. It provides leading data and insights, trading platforms, and open data and technology platforms that connect a thriving global financial markets community driving performance in trading, investment, wealth management, regulatory compliance, market data management, enterprise risk and fighting financial crime.

For more information visit: www.refinitiv.com

Active Liquidity Podcast – How AI Protects Payments During COVID19

| 17-08-2020 | treasuryXL | Kyriba |

Our Partner Kyriba has launched their podcast, in which the Chief Product Officer Thierry Truche shares his view on how AI (Artificial Intelligence) is essential as the third line of defense for finance chiefs, ensuring payments are protected during the COVID 19 pandemic. Even if you are a company that has strong fraud prevention processes in place, remote working conditions require AI to detect abnormal payments activity. Hear why Truche sees AI as a replacement for the collective intelligence that is more present in an office setting in this episode of the Activity Liquidity Podcast!

 

 

About Kyriba

Kyriba empowers CFOs and their teams to transform how they activate liquidity as a dynamic, real-time vehicle for growth and value creation, while also protecting against financial risk. Kyriba’s pioneering Active Liquidity Network connects internal applications for treasury, risk, payments and working capital, with vital external sources such as banks, ERPs, trading platforms, and market data providers. Based on a secure, highly scalable SaaS platform that leverages artificial and business intelligence, Kyriba enables thousands of companies worldwide to maximize growth opportunities, protect against loss from fraud and financial risk, and reduce costs through advanced automation. Kyriba is headquartered in San Diego, with offices in New York, Paris, London, Frankfurt, Tokyo, Dubai, Singapore, Shanghai and other major locations. For more information, visit www.kyriba.com.

 

SOURCE

Webinar recording: The Future of Cash Flow

| 11-08-2020 | Cashforce

Cash forecasting has been essential to treasurers over recent months both with respect to systems/behaviour/data.

In this webinar we discuss the future of cash flow, together with Caroline Stockmann (ACT), Ginny Wu (Walker Shop Footwear), Gerard Tuinenburg (Unilever), James Adams (Chalhoub) and Nicolas Christiaen (Cashforce).

Watch recording:

 

TIS Summer Academy

| 10-08-2020 | TIS |

Our partner is excited to present four topics that have to do with both payments and TIS.

Please join TIS for a short, but interesting learning experience and a chance to win some great prizes.

How does it work?

In order to be entitled to an academy degree, you must choose two subjects from the options below. Each topic consists of a webcast and a content piece. Watch and read each carefully.
At the end, you will receive an email with a link to a quiz which will test your knowledge.

All academy participants with the correct answers are entitled to win one of ten Amazon vouchers worth EUR 250. We look forward to welcoming you to the TIS Summer Academy!

Get started now!

Choose one of the sessions and dive into the world of payments and TIS. Enjoy the TIS Summer Academy.

 

Click here and choose

Best-of-Breed Providers Cashforce and TIS Form Alliance to Help Companies with an End-to-End Cash and Payments Solution

| 16-07-2020 | TIS |

Walldorf, July 16, 2020 – Cashforce, a ‘next-generation’ cash forecasting & working capital analytics company and TIS (Treasury Intelligence Solutions GmbH), a leading bank connectivity & payments provider, announced today that they have formed a strategic alliance. This collaboration provides a unique solution for corporates requiring a rich cash forecasting and payment experience with seamless integration to their banks and their enterprise systems such as ERP and TMS.

With universal ERP connectivity a common strength, the pairing of Cashforce’s strength in cash forecast modelling and working capital analytics together with TIS’ global bank connectivity and payment capability provides corporations a highly flexible solution to adapt to treasury’s changing needs.

“We are very pleased to form this partnership with TIS,” said Nicolas Christiaen, CEO of Cashforce. “Cashforce is unique given its ability to combine working capital analytics with sophisticated (AI-powered) cash forecasting. Partnering with TIS compliments our best of breed approach. The end-to-end solution of our combined products provides a seamless experience from the discovery phase, through implementation to support; exactly the level of integration our clients and prospects are looking for.”

Joerg Wiemer, CSO and co-founder of TIS, is excited about the partnership: “TIS is leading the market in providing frictionless, cloud-based payment solutions to corporate and medium-sized enterprises. I am excited about our new partnership with Cashforce as we continue to follow our best-of-breed ecosystem strategy in cash management. Our API connectivity with Cashforce will bring integration and customer experience to the next level. “

About Cashforce     

Cashforce is a ‘next-generation’ Cash Forecasting & Working Capital Analytics platform, focused on analytics, automation and integration. Cashforce connects the Treasury department with other finance / business departments by offering full transparency into its cash flow drivers, accurate & automated cash flow forecasting and treasury reporting. The platform is unique in its category because of the seamless integration with numerous ERPs & banking systems, the ability to drill down to transaction level details, and the intelligent AI-based simulation engine that enables multiple cash flow scenarios, forecasts & impact analysis.

Cashforce is a global company with offices in Antwerp, Amsterdam, Copenhagen, London & New York and provides cash visibility to multinational corporates across various industries in over 120 countries worldwide.

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.

Your world of Payments. ONE Login.

https://www.tis.biz


Press contacts

Cashforce

Benjamin Bergers – [email protected]

+32 479 66 27 21

 

Treasury Intelligence Solutions GmbH

Liang Fang – [email protected]

Altrottstrasse 31

69190 Walldorf

If you want to know more about TIS, just visit www.tis.biz

Executive Briefing CFOs in the Firing Line

| 01-07-2020 | TIS |

Government-imposed sanctions on who companies can trade with and how are changing almost daily. At the same time, CFOs are becoming personally responsible for sanctions violations relating to payments – and the size of fines imposed on errant organizations is snowballing.

How, then, can finance leaders tackle these issues to minimize the risk of sanctions breaches, improve payments workflows, and ultimately, avoid severe legal consequences? Our partner TIS offers an executive briefing on this topic. Read more about:

  1. The importance of government-imposed sanctions
  2. What types of sanctions exist?
  3. Pinpointing the risks
  4. Why in-house screening matters
  5. Optimizing the set-up

Download the latest executive briefing from TIS and gain timely insights into this complex topic and an extensive list of legal expert’s recommendations in order to ultimately protect the organization against the financial and reputational damage of a non-compliance incident as well as the CFO from personal liability.

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.

Your world of Payments. ONE Login.

Visit TIS.biz website

Download the executive briefing here!

 

Crisis – What next? Immediate Measures in Cash and Liquidity Management

| 29-06-2020 | TIS |

Thursday, July 9, 2020 11:00 AM – 12:00 PM CEST

Looking at the past four months the words “Corona” and “COVID-19” surely already have become the words no.1 in 2020. Has this current status which disabled a lot of businesses and business transactions led many companies into difficult situations and troubling times?

This pandemic surely is a stress test for finance and treasury departments which have to be on top of all issues and challenges to be able to have high cash visibility and reliable liquidity forecasts. How can you fight the struggles of economic uncertainty and stay on track?

This webinar shows you which immediate measures have to be taken to stay ahead of the game. TIS and BearingPoint present a best-of-breed combination of their solutions.

Register today!