Overcoming Resistance | Integrating Data in Cash Flow Forecasting

| 17-05-2021 | treasuryXL | Cashforce |

Treasurers at mid-cap Corporates looking to use large-scale data analysis to enhance cash flow forecasting are finding colleagues hesitant.

The advantages of using sophisticated data analysis in cash flow forecasting are clear to a growing number of treasurers intent on improving accuracy and eliminating human error. But implementing and executing a data-driven approach often requires collaboration with teams outside treasury, such as AR and credit collections—and some NeuGroup members are meeting resistance.

  • Solid support from leadership and showing the benefits of data analysis may make the transition smoother and help get members of other teams on board.
  • That key insight emerged from a recent discussion at a meeting of NeuGroup for Mid-Cap Treasurers, sparked by a presentation about data-enhanced cash flow forecasting from Cashforce. Read an earlier article from Neugroup here.
  • “A data mindset requires an analytical filter,” one member said, and if another team does not thrive on data, it takes some effort to get colleagues to buy in.

Overcoming intimidation. “I like to be very data-driven,” one member said. “Sometimes that doesn’t go over well in our company. It can be intimidating to people.”

  • “When you start questioning trends, it doesn’t always make people feel very good,” she continued. “I think there can be a lot of defensiveness.”
  • Another treasurer said that, in his experience, “having access to data and showing it to [staff] kind of scares them. People say they want to change—people don’t want to change.”
  • Though there can be a learning and implementation period, he said he was able to find success by stressing how much time data analysis could save in the long run.

Navigating collaboration. Some members said teams that consistently set low expectations for cash flow are often obstacles to using data that produces different, more accurate forecasts. “There can be sandbagging in the forecast, people can be resistant to being more optimistic,” one member said.

  • Another said that, though she would like to see the company implement a more data-focused model for cash flow, it would be too great a challenge to work with functions that don’t fit under the treasurer and do not share the data mindset.
  • One treasurer said his company is having these issues with its AR team, which does not report to him. “When you compare quarters, [we are] 10-15% over our forecast,” he said. “There’s a disconnect.”

Teamwork, dream work. That member said he was able to work with his company’s AR team to incorporate data and effectively eliminate the issue, though there was initial reluctance.

  • He recommends a single individual in a management role spearhead this kind of change. “If it is more driven by one leader, it is easier to shield criticism and make a right decision.”
  • The member said another source of friction can be FP&A and other finance or business leaders outside of treasury who want to maintain oversight of forecasts.
  • Though there is value in working together to incorporate data for forecasting, he said, “the entire organization needs to be ready to become more objective rather than try to manage divisions.”

 

Global Treasury Americas | Planning the post-pandemic Treasury

| 12-05-2021 | Eurofinance | treasuryXL |

The leading virtual event defining today’s corporate treasury agenda

For the past year, treasurers have sweated the core stuff: securing short-term liquidity and longer-term credit; enhancing risk monitoring and hedging processes; and dealing with the implications of remote working. But in the complex and uncertain transition to a new ‘normal’, finance functions will have to resume the search for growth. Can treasury help identify where growth is most likely to come from and which parts of the business are most threatened by digital disruption? And can they do better – can they help build the business strategies needed to prosper as we emerge into the next phase of the pandemic.

This event will explore the practical steps treasurers can take to make enterprise and treasury digitalization a reality and look at varied case studies of transformation in the treasury. The event will look in-depth at new technologies in action as well as more strategic concepts including the sustainability agenda. We look at how treasury can make a difference. Finally, we look at what it takes to transform treasury wherever you are in your journey in order to increase efficiencies, protect the business and make a difference to the bottom-line.

Global Treasury Americas: Planning the post-pandemic treasury

2 days of actionable insights, plus real world case studies tackling the key issues facing treasurers in the region. Topics include:

  • The Great Bounce-back
  • Practical steps on the path to automated Treasury
  • Why sustainability matters for Treasury
  • Name that threat: What’s next
  • Building a true cash culture
  • Payments evolution – the Treasurer’s view

What makes Global Treasury Americas your must-attend event of the year?

  • Understand the practical steps towards making enterprise and treasury digitalization a reality
  • Gain actionable solutions and best practices from varied real-world case studies
  • Network with an unrivalled audience of 800+ senior treasury professionals across the Americas
  • Benchmark your operations against the regions most forward-thinking treasury teams
  • Explore how to support business growth whilst balancing the traditional role of treasury

June 9-10 | Virtual

Register Now

 

 

Partner Interview | Manipulating market-leading data to navigate volatility

11-05-2021 | treasuryXL | Refinitiv |

As a leading financial markets data provider, Refinitiv is an essential partner for corporate treasurers. Refinitiv’s global, multi-asset and multi-jurisdiction view of risk, credit and economic data enable treasury teams to drive stability by managing the global and interconnected nature of risk today.

⬇️ ⬇️ ⬇️

In this interview, we take a look at how Refinitiv’s corporate treasury customers used Refinitiv data and apps to remain agile and proactive in one of the most volatile years ever. We also consider what data is likely to be needed as we recover from the pandemic and companies seek growth.

An introduction to:

 

Andrew Hollins

Director of Corporate Treasury Proposition, Refinitiv, an LSEG business

 

 

 

 

Rasyid Kwee

Proposition Sales Specialist for Enterprise Solutions, Refinitiv, an LSEG business.

 

 

INTERVIEW

1. From your data, what can be identified about the behaviors and activities of corporate treasurers during the onset of the pandemic?

Using the data we have available, we’ve been able to discern three broad phases of corporate treasury response and action throughout the pandemic. The period March through to May 2020 represents Phase 1, which for many Corporates could be termed the ‘Survival Phase’. During this first phase, we witnessed pronounced patterns of activity amongst our Corporate Treasury clients.

Firstly there was a strong focus on analysing and reviewing the Credit Risk of suppliers, clients and also corporate’s own credit risk. Treasurers wanted to know if their customers would be able to pay for the goods and/or services they are supplying, and if their suppliers were still going to deliver supplies, raw materials, component parts, goods, etc.

We also saw a spike in usage of Company Fundamental Data (app for company financial analysis, for financial statements and valuation metrics for over 90,000 companies listed on 169 exchanges in 150 countries), especially so for balance sheets, income statements, key ratios and Cashflow data. Furthermore, there was an increased appetite for Private Company data, which almost certainly reflected a desire to review the health of the extended supply chain, a trend which has continued.

Finally, there was an increase in usage of Sector-specific Economic Indicator data, up 30% globally from Feb – Mar 2020 (this app allows users to search for any Economic Indicator, chart the history, export to Excel and view associated press releases). An increase was also seen in the use of Peer Analysis data (allows for the comparison of a company against its peers across a multitude of measures and variables), reflecting a demand for wider sectoral intelligence, as well as insight into how related companies were performing in such a stressed environment. Conversely, we also saw a decline in demand for ESG related apps and data, as well as data and apps relating to Libor transition. Libor transition in particular had been a high priority area for most corporate treasurers, but the economic shock brought on by Covid-19 pushed these onto the back burner during the ‘Survival Phase’.

2. What are the Data and App usage highlights from Phase 1?

  • Globally, Credit Default Swap (CDS) data usage grew 115% in EMEA and Americas between February and March 2020. Asia showed a 155% rise in usage of this data during the same period. (The CDS Dashboard app provides comprehensive Streaming price coverage on major global Index and single name CDS from major market maker).
  • In the Netherlands (February to March 2020), there was an 83% rise in usage by Corporate Treasurer’s use of credit and credit risk data, specifically;
    • 68% rise in use of Debt Structure data (both for oneself and for one’s peers)
    • 67% rise in Starmine Credit Risk data (Starmine Credit Risk models utilize industry-specific accounting ratios, equity market valuations and text mining models to produce a 1-100 score of an company’s credit risk).
  • During the same period we also saw significant increases in usage of company fundamental and private company data. At the same time there was a clear drop in consumption of ESG data.
      • 81% rise in Company Fundamental data
      • 33% rise in Private Company data
      • 45% drop in use of ESG data

  • Looking at year on year data for the Netherlands for March 2020 and March 2021, we saw a 50% rise in CDS data; 50% rise in Debt Structure Data; 66% rise in Industry sector data; 113% rise in use of peer analysis apps.
  • Furthermore;
    • Private Company Data and Analytics grew by 31% between February to March 2020, receding during the summer months but then grew >100% from October 2020 into Q1 2021.

3. As the pandemic progressed, how did the behaviors and activities of corporate treasurer’s change?

Moving on from ‘Phase 1’ (above) and heading into ‘Phase 2’, which we can place from mid Q2 through to Q3 and call the ‘Cash Phase’, many companies focused on cash preservation and extending their cashflow runway as far as possible. Companies focused on maximising all sources of liquidity, in some cases working with suppliers to extend payment schedules and expedite receivables as far as possible. Companies also drew down reserves and utilised credit facilities. We also saw Bond Issuance accelerate significantly especially in Q3.

4. What are the Data and App usage highlights from Phase 2?

In the Netherlands, from June to October 2020, we saw a notable pick-up in usage of Issuance and Credit-related data and analytics:

  • A 40% rise in usage of the New Issues Monitor – (app providing a comprehensive library of new issues covered by Thomson Reuters and supporting IFR).
  • A more than 250% jump in usage of Starmine Credit Risk analytics and data
  • A 25% rise in usage of the Fixed Income All Quotes app

At the same time, there were also further significant changes in usage of apps and data related to the financial health of the supply chain and the corporate ecosystem in general:

  • Income Statement: Up 116%
  • Balance Sheet: Up 72%%
  • Key Ratios: Up 160%
  • Cashflow: Up 175%

5. How do you see the behaviors and activities of corporate treasurers changing as we move into a recovery mode from the pandemic?

If we identify Phase 3 as the ‘Recovery Phase’, which focuses on positioning and planning for a return to normality, or at least a new normal, our usage data suggests that many companies continue to focus on bond issuance and refinancing in order to take advantage of current lower yields. It’s notable that issuance of US$ denominated debt by non-US companies has been particularly strong in the first quarter of 2021.

There are distinct trends apparent in the usage data for our issuance-related Data and Analytics apps, in particular:

  • DCM Pricer – usage is up 21% from November 2020 to March 2021 (a custom bond calculator designed to build new bond issues and price them for the primary market)
  • Debt Structure app – usage is up 20% between November 2020 and March 2021
  • New Issues Monitor – usage is up 52% from November 2020 to March 2021 (New Issues Monitor provides a comprehensive library of new issues covered by Thomson Reuters and supporting IFR).

As countries navigate out of the pandemic, we can also see that ESG is firmly back on the agenda, with usage of our ESG apps and data rising strongly as we move deeper into 2021. For much of the pandemic period many companies focused on survival, but a rapidly developing global sustainability landscape is contributing to a significant shift towards adopting and ESG standards and behaviours across the corporate sphere.

Globally, ESG Data and Analytics Usage has grown 93% between Dec 2020 and March 2021, higher than the pre-Covid-19 peak.

  • Across EMEA, this was up 78% in the same period.
  • In the Netherlands, although below the global and EMEA percentages, ESG Data and Analytics usage was still up 35% in the same period.

Looking beyond Covid-19, conversations with our corporate treasurer clients have revealed an appetite for greater visibility and predictability when it comes to cash and liquidity management. Aligned to this, is a desire for increasingly accurate forecasts and risk analysis regarding projected future cashflows. Hedge accounting and hedge effectiveness tools also feature strongly in these conversations.

Furthermore, automation to support more robust and frequent analysis and reporting, as well as a comprehensive enterprise-wide view of cashflow, risk and liquidity, are also areas of growing interest which are going to feature more in the post-pandemic landscape.

Finally, ESG data consumption has recovered and is now above pre-Covid-19 peaks. This trend is likely to continue on its upward trajectory, becoming systemically more prevalent than it was pre-pandemic, given the rapidly evolving regulatory and demand led factors which are driving an ever-greater focus on sustainability. We recently hosted an event with the Association of Corporate Treasurers on treasury ESG roles and responsibilities which you can watch on-demand here.

6. How can corporate treasurers gain access to Refinitiv’s market-leading data and navigate current and future volatility?

Serving more than 40,000 institutions in approximately 190 countries, Refinitiv provides advanced data and technology to help corporate treasury teams make critical decisions with confidence. Our corporate treasury solutions help deliver accurate and relevant data, tools and analytics that can be accessed easily and intuitively – advancing your end-to-end workflows and ensuring seamless integration with your entire treasury management eco-system.

To find out more, speak with our experts by completing your details here.

Read more about Refinitiv, an LSEG Business here.

 

Refinitiv Corporate Treasury Data Insights | April 2021

21-04-2021 | treasuryXL | Refinitiv |

Andrew Hollins, Director of Corporate Treasury Proposition at Refinitiv, brings you the April 2021 round-up of the latest Corporate Treasury Data Insights. We will learn about what an increase in inflation will mean for treasurers’ FX hedging plans – and how best to protect your company’s position. Moreover, an update is provided on the Suez Canal traffic jam, and the impact on trade flows, freight movement and prices in the coming months. Plus, some insights on metal prices, ESG, LIBOR and mobile FX trading are shared.

Are inflation fears justified?

While expectations of inflationary pressures have risen significantly over the past six months, reflected in the chart above, the market points to moderating price pressures in the medium-term as revealed by the breakeven yield curve for inflation linked bonds.

Expectations of an inflation spike in the U.S. and elsewhere, perhaps peaking in 18 months to two years, are likely to impact treasurers’ FX hedging plans.

Take the best performing G10 currency so far this year – GBP. While the outlook into H2 2021 and beyond remains uncertain with possible Brexit-linked fallout and a potential separatist supermajority in the Scottish elections on 6 May, continued success on the vaccine front should deliver the dividend of an accelerated economic recovery in the UK.

FX hedging strategy

Corporates with FX exposures may consider a Forward Extra as part of their hedging strategy – an FX option which protects from downside risk but also allows for some upside gains.

Treasurers can use Refinitiv Eikon to manage currency exposure:

  • Price a Forward Extra using the FX Options Calculator (FXOC), employing key events like the Scottish elections in May as reference points.
  • Analyse volatility relative value using Currency Performance (FXPT).
  • Analyse volatility skew and an implied probability distribution chart in FX Volatility Explorer (FXVE).
  • Keep a close eye on inflation forecasts with Reuters Polling (POLLS), which forecasts a rise in U.S. inflation to 2.4 percent for the year until March 2021, and Rates Views Inflation Screen (RVIN) to monitor breakeven rates.

Emerging market currencies and stocks struggle

While vaccine progress is supporting the position of both GBP and USD, emerging market currencies are telling a different story.

Steering the post-pandemic recovery

Reuters newsmaker with Christine Lagarde, President of the European Central Bank. After taking radical steps to combat the recession, global policymakers now face the task of ensuring recovery takes hold. Lagarde joins Reuters for an exclusive Newsmaker to discuss the best policies to prevent COVID-19 from scarring economies, how and when policy support might be withdrawn, whether rate setters might be facing a major shift in the inflation regime and the challenges that are unique to the euro zone.

Join the conversation.

Suez traffic jam clears, but what’s the impact?

Satellite data from Eikon’s Interactive Map, pictured below on 29 March, shows the Suez Canal blockage beginning to ease. However, treasurers should expect more volatility in the coming months.

The freight derivative markets for dry bulk carriers are seeing heavy traded volume in 2021 due to high volatility, potentially exacerbated by the Suez incident.
Data from the Baltic Exchange for the week ending 19 March 2021 show a record of 78,059 lots of Dry FFA (Freight Forward Agreement) traded, a record not set since 2008.

Will gold remain bullish in 2021?

Gold is seen as a hedge against uncertainty and hence we witnessed a drastic increase in pricing during the pandemic. However, will vaccine rollouts and stimulus measures cause this precious metal to bottom out?

Watch – Refinitiv Metals Outlook 2021: Gold

How Mercuria proactively manages commodities exposure

Mercuria is a global energy and commodity group, with business lines covering a diverse range of commodities trading, as well as large scale infrastructure assets. Discover how they manage exposures in FX, FI and commodities markets, as well as credit terms with trading counterparties.

Sustainability and ESG: what role should you play?

Today, no two treasury teams are alike when it comes to sustainable finance roles and responsibilities. However, will upcoming regulatory and political change result in clearer and globalised standards and benchmarks? And what should treasurers be watching out for?

Join us, the ACT and two leading treasurers from Page Group and Optivo next week to discuss these significant developments – and how treasurers can support future growth ambitions, sustainably.

LIBOR: What you need to know about fallback and transition data

To prepare for the oncoming LIBOR transition and IBOR reform, hear from Trang Chu Minh and Fausto Marseglia as they discuss fallback and transition data in relation to your bonds portfolio, and the main aspects of ISDA fallback rates.

Watch – Refinitiv Perspectives LIVE: The LIBOR Transition: Fallback & Transition Data

Refinitiv Corporate Treasury Newsbeat

Refinitiv’s Taking FX Trading Mobile: responding to the shift to remote working – with mobile trading apps predicted to be the most influential technology shaping the future of trading – Refinitiv is working with partners to develop a seamless end-to-end FX workflow, accessible by mobile app.

LSEG Automates $7bn Debt Capital Transaction: last month, London Stock Exchange Group (LSEG) successfully priced a landmark syndicated multi-tranche and multi-currency offering, raising  $7bn equivalent across nine tranches.

Key transaction steps were conducted on Flow, a digital platform driving end-to-end automation in primary debt markets, developed in partnership with Nivaura.

This is the most complex transaction to use a primary debt capital markets digitisation platform, and a milestone for LSEG, as its largest bond and first USD Reg S/ Rule 144A issuance. Find out more about the landmark transaction.

 

 

Partner Interview Series: Padraig Brosnan, CEO and Founder of Treasury Delta, a corporate treasury RFP platform

| 08-04-2021 | treasuryXL | Treasury Delta | treasuryXL are delighted to share the interview with CEO and Founder of Treasury Delta, Padraig Brosnan.

Read more

Invite Refinitiv Newsletter | Corporate Treasury Data

06-04-2021 | treasuryXL | Refinitiv |

Trusted by 15,000+ corporate treasurers, our Partner Refinitiv’s free monthly mail contains the latest Refinitiv data insights, must-read analysis and practical advice for Corporate Treasury teams. We dig into everything from Cash management, Market monitoring, Funding, Investments, Trading, Risk and Sustainable finance: supporting your workflow from start to finish.

Subscribe to their Corporate Treasury newsletter today to:

  • Receive expert analysis on marking-moving events
  • Keep ahead of industry developments and their impact on your team and business
  • Get exclusive access to our data-based insights and interactive charts

       REGISTER HERE

 

ACT Webinar – Sustainability and ESG: what role should you play?

31-03-2021 | treasuryXL | Refinitiv |

Webinar on April 22 at 12:30-13:15 BST

This webinar, in association with our Partner Refinitiv, will take place on Thursday 22 April at 12:30 – 13:15 BST.

Will upcoming sustainable regulatory and political change result in clearer and globalized standards?

Today, no two treasury teams seem to have a consistent view of their roles and responsibilities when it comes to sustainable finance. However, will upcoming sustainable regulatory and political change result in clearer and globalized standards and benchmarks? What should treasurers be watching out for? And what action should they take?

Join us for a practical discussion where we’ll outline the most significant developments coming our way – and how treasurers can respond effectively to protect P&L and balance sheets, supporting future growth ambitions.

Topics to be discussed:

Where we are today
  • When we say ‘Sustainable Finance’ and ‘ESG’ – what do we mean?
  • Various roles we see treasurers play today
  • Overview of the political and regulatory landscape
Opportunities to drive sustainable growth and leadership and solve for potential challenges
  • EU Taxonomy – impact of proposed changes and opportunities to be exported
  • Opportunity – Issuance of Green and Transition Bonds and how to stop brainwashing
  • Global ESG reporting and benchmark landscape
  • Carbon pricing
    – > What is happening and how to compare the performance of peers
    – > How to understand and report on Scope 2 and 3 emissions

       REGISTER HERE

 

Webinar Recording: The importance of cash management during the crisis | the impact of the pandemic

| 31-03-2021 | treasuryXL | Cashforce |ACT

Rewatch ACT’s session ‘The importance of Cash management during the crisis: the impact of the Pandemic’ with David Shinkins (Barclays), James Marshall (Virgin Media), Hailey Laverty Hotels & Resorts) & Nicolas Christiaen from our Partner Cashforce.

 

 

 

Xe-pert Webinar | What could happen to USD and GBP in 2021?

26-03-2021 | treasuryXL | XE |

Given the new US presidential administration and the development of COVID-19 vaccinations, market participants are wondering what’s in store for the USD in 2021.

In the latest free 45-minute webinar bought to you by Xe and BritishAmerican Business, our experts will discuss:

  • Recent performance of USD and GBP
  • Risk-aversion trading theme versus market fundamentals
  • How the China / US relationship is heading and how this could impact USDCNY throughout 2021
  • What we could expect throughout the remainder of 2021 and different scenarios that could have a positive or negative impact on USD and GBP
  • A summary of the type of solutions you can look to implement to protect your business from further impact

Join the currency experts from Xe as they share their thoughts on the current market outlook and how businesses that have a commercial exposure to the currency markets can look to protect their bottom line from further impacts and protect against uncertainty.

Register now and submit your questions, and our experts will also look to answer the common challenges during the live session. We may not have all of the answers, but we can look to provide some support to issues regarding currency exposure.

Date and Time

April 22nd 2021, 5:00-5:45 PM CEST

Register Here

About Xe for Business

Xe provides comprehensive international money transfer and currency risk management (hedging) solutions. Our team of foreign exchange specialists work with UK businesses of all sizes to improve their FX outcomes.

How to get started

Signing up for an Xe Business account is completely free, and will take just a few minutes. Interested in learning what the process entails? Contact our expert Maurits Houthoff for quick and transparant information.

 

Hoe kunnen bedrijven hun bedrijfsresultaten beschermen tegen de valutamarkten? (Dutch item)

25-03-2021 | treasuryXL | XE |

Komt uw bedrijf in aanraking met vreemde valuta? Wybe Schutte legt in onderstaand interview uit hoe bedrijven de complexiteit van FX kunnen aanpakken.

Maak kennis met…

Wybe Schutte is Head of Business Development Europe bij Xe. Wybe’s carrière is altijd gericht geweest op internationale bedrijfsontwikkeling en het beheren van relaties. Binnen XE spelen beiden een belangrijke rol, aangezien Xe wereldwijd de vertrouwde partner zijn van veel bedrijven en hun helpen bij het beheren en verminderen van het risico die gepaard gaan met internationaal zakendoen en valuta’s.

INTERVIEW

1. Kun je iets vertellen over Xe en haar missie?

Bij Xe draait alles om valuta’s. De meeste mensen kennen Xe van de “Currency Converter”, maar we bieden al meer dan 25 jaar internationale betalingsverkeer diensten aan voor bedrijven. Xe’s Business Solutions ondersteunt bedrijven die in aanraking komen met vreemde valuta door hun te ondersteunen bij het beschermen van de winstmarges, en het verbeteren van de cashflow. Dit onder andere door het valutarisico waarmee ze worden geconfronteerd te kwantificeren en door strategieën te implementeren om dit te beperken. Zodat onze klanten zich kunnen concentreren op hun corebusiness en zich geen zorgen hoeven te maken over hun FX.

2. Welke soorten valutarisico’s zijn er en hoe gaat XE ermee om?

Binnen elk bedrijf kijken we waar de valutarisico’s zitten en hoe we deze risico’s kunnen beperken. Waarbij er verschillende opties zijn voor bedrijven om bescherming te bieden tegen het risico, zoals termijncontracten. Valutarisico kan worden onderverdeeld in drie soorten: 1) Transactie risico, wanneer een bedrijf zaken doet in een land dat verschilt van de basisvaluta; 2) Translational risico, wanneer een bedrijf een activa of passiva in een vreemde valuta op de balans heeft staan, en 3) Economisch risico waarbij een verandering in de wisselkoers een bedrijf een concurrentievoordeel kan geven in de markt.

3. Hoe kan je de verschillende soorten valutarisico’s meten?

FX-risico kan een negatieve of positieve invloed hebben op de bedrijfsresultaten. Als je terugkijkt op de afgelopen 10 jaar, valt er te zien wat de potentiële impact zou kunnen zijn in de meest extreme, minst extreme en gemiddelde scenario’s op een gegeven tijdlijn.
Dit kan worden gedaan door te kijken naar de hoogte- en dieptepunten van de markt en de valutapositie van een bedrijf. Deze stap helpt bedrijven te begrijpen wat de impact op het bedrijfsresultaat kan zijn.

4. Wat zijn de meest voorkomende kritieke FX-problemen die bedrijven hebben?

Bedrijven die een transactionele risico hebben, kunnen een onderscheid maken tussen gecommitteerde of verwachte blootstelling aan valuta risico. Een gecommitteerde blootstelling is wanneer de prijs voor goederen of diensten in een vreemde valuta bekend en gecontracteerd zijn. Hierdoor heeft elke wisselkoersschommeling een directe impact op hun winst of kosten, tenzij ze worden afgedekt. Een verwachte blootstelling is wanneer een bedrijf een inschatting maakt om te zien wat hun vereisten kunnen zijn. De betrouwbaarheidsniveaus in de voorspelde perioden kunnen sterk variëren en het is normaal gesproken zo dat hoe groter de periode, hoe lager de betrouwbaarheidsniveaus.

5. Hoe kunnen bedrijven hun bedrijfsresultaten beschermen tegen de valutamarkten?

Er zijn een aantal belangrijke stappen die een bedrijf kan volgen om de FX-volatiliteit te verminderen. De eerste is het type risico te identificeren om daarna de risico-elementen te kwalificeren en vervolgens een strategie te ontwikkelen en deze tijdens het implementatieproces te implementeren. In deze fases kunt u beslissen welke producten het meest geschikt zijn, zodat u vervolgens over kunt gaan op markttiming en uitvoering. Ten slotte moet u uw aanpak regelmatig analyseren, herzien en aanpassen. Het is belangrijk om te onthouden dat het niet om marktspeculatie gaat, maar om het beperken van uw risico.

6. Wat is volgens jou het grootste voordeel van een werkende FX strategie?

Gezien de altijd onzekere wereld waarin we momenteel leven, kunnen financiële afdelingen en treasury teams op zoek zijn naar een strategie om met deze valutaschommelingen om te gaan. Een strategie die na verloop van tijd een aanzienlijke invloed kunnen hebben op de bedrijfsresultaten van een bedrijf. Een gestructureerde benadering van valutarisico’s kan een bedrijf in staat stellen om strategische beslissingen te nemen, in plaats van te proberen in te spelen op de dagelijkse ontwikkelingen in de markt.

7. Ervaar je verschillen in FX vóór COVID19 en de tijd waarin we nu leven? Wat zijn de verschillen?

Er hebben zich aanzienlijke bewegingen voorgedaan op de valutamarkten tijdens de Covid19-periode en er zijn nog steeds veel factoren die de dagkoersen beïnvloeden. In deze onzekere tijden zijn onze opdrachtgevers op zoek naar zekerheid en stabiliteit. En hoewel prijs altijd belangrijk is, werden andere sleutelfactoren zoals veiligheid en geloofwaardigheid belangrijker. Uiteraard was de impact op onze klanten heel verschillend en we hebben met hun samengewerkt om de oplossingen en flexibiliteit te bieden die ze nodig hadden. We hebben veel nieuwe klanten verwelkomd uit nieuwe industrieën terwijl ze groeiden, en we ondersteunen nieuwe en bestaande klanten die groeiden, het lastig hadden, of hun bedrijfsmodellen aanpasten aan de veranderende markt.

8. De markt verandert voortdurend, hoe blijft XE op de hoogte van de laatste ontwikkelingen in de valutawereld?

We werken nauw samen met onze klanten om hun behoeften continu te begrijpen en hierop aan te passen. Onze deskundige dealers houden de markt nauwlettend in de gaten. Inzicht in de bewegingen, weerstandsniveaus en belangrijke economische en politieke updates die de markt kunnen beïnvloeden zijn erg belangrijk, en we houden die in de gaten zodat onze klanten zich daar geen zorgen over hoeven te maken. Xe werkt ook nauw samen met onze zusterbedrijven en moederbedrijf Euronet Worldwide.

9. Hoe ziet de toekomst van FX er in jouw perspectief uit?

De nabije toekomst zou het hoofd kunnen bieden aan buitengewone niveaus van balansuitbreiding en recessie, wat mogelijk zou kunnen leiden tot een langer stimulerend/ expansief monetair beleid dat op zijn beurt de valutakoersen van de landen die ze dragen, zou kunnen drukken. De gevolgen hiervan op de korte tot middellange termijn zouden een gebrek aan grote economische expansie kunnen zijn, aangezien het kapitaalrendement vaak negatief is wanneer de inflatie wordt meegerekend. Dit kan betekenen dat we een herschikking van de FX-sterkte zien naar op commodity based valuta’s (CAD / AUD / NZD) en alternatieve veilige havens (CHF). We zouden deze verschuiving echter op langere termijn kunnen zien, aangezien met name de overheidsschuld houdbaarder en aantrekkelijker wordt tegen zulke lage rentetarieven en bredere investeringen zou kunnen uitnodigen voor landen en tot op zekere hoogte de particuliere industrie.

We zijn getuige geweest van een grote volatiliteit in de FX-markt door een grotere afhankelijkheid van een smallere data kern. Inflatie en rentetarieven, maar ook verhalen over de overheidsschuld en de uitbreiding van de balans hebben de meeste invloed op de renteschommelingen.

10. Wat is tot nu toe jouw beste ervaring ooit in de wereld van valuta’s?

Een scale-up ondersteunen met hun complexe FX-vereisten en hen in staat stellen hun bedrijf in een korte tijd te laten groeien door het FX-risico te elimineren en gaandeweg aanzienlijke kostenbesparingen te realiseren.

 

Meer over XE

Bij XE draait alles om Valuta. We bieden een uitgebreid portfolio van valutadiensten en -producten aan, waaronder onze valutacalculator, marktanalyses, valutagegevens-API en snelle, gemakkelijke en veilig betalingsverkeer voor consumenten en bedrijven.

XE faciliteert wereldwijd meer dan 13.000 bedrijven per jaar bij het beheren van hun vreemde valuta en het vooruit plannen om de risico’s van valutaschommelingen te beperken.

XE is onderdeel van Euronet Worldwide (EWI), een aan Nasdaq genoteerde wereldwijde aanbieder van elektronische en transactie verwerkingsoplossingen met een marktkapitalisatie van ongeveer 7,5 miljard dollar.

XE Business Services

Internationale betalingen en beheer van valutarisico’s van ‘s werelds vertrouwde autoriteit op valutagebied. De concurrentie voorblijven is al moeilijk genoeg zonder de complexiteit van vreemde valuta. XE kan u helpen tijd en geld te besparen, zodat u kunt blijven doen waar u goed in bent: uw bedrijf runnen. Onze oplossingen bieden u zekerheid in een onzekere wereld en stellen uw bedrijf in staat om de juiste beslissingen te nemen.

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