Your Last Call | International Treasury Management Virtual Week | September 27 – October 1

22-09-2021 | Eurofinance | treasuryXL |

It’s free, It’s Virtual…

International Treasury Management is the annual meeting place for 1000s of the World’s most senior treasurers to learn and share experiences in valuable peer to peer discussions. With a reputation for ground-breaking sessions and world-class speakers, our 30th anniversary event will explore the boundaries of the profession, take a glimpse into the future of business, treasury and working life as well as offer the practical case studies on the treasurer’s top agenda items.

Only one treasury event can deliver the comprehensive mix of big picture global insight and granular treasury knowledge you need to make the right choices for the future.

Back to the future, again

Over the past 30 years since EuroFinance’s inaugural conference on International Cash and Treasury Management, much has changed. Treasurers have firmly become business partners, technology experts, risk managers and opportunity spotters. They often lead fundamental change within the company as markets, business models and technology shifts.

What next? This event will delve into how treasury operations can gear up for the future, having learned the lessons from the past. Where, who, what and how will the corporate be in the coming years and what is treasury’s role?

Keynote sessions will offer big-picture insight alongside themed streams including:

  • Payments revisited
  • Risks and Rewards
  • Digital strategies
  • Practical solutions to day-to-day Treasury challenges
  • The power of partnership

What makes International Treasury Management the must-attend event of the year?

  • networking on a global scale – a significant rise in attendees in 2020 boosted the value networking with banks, providers and potential clients… all in one place
  • strategic insights and best practices – get solutions to the challenges you face from treasury and economic experts during keynotes, practical case studies, fireside chats, analytical panels and more
  • future trends – delve into the latest innovations and new technology driving change in treasury, and their practical applications
  • live Q&A with world-class treasurers – enjoy borderless networking and live Q&As with high-profile speakers directly after each session
  • cost and time-efficiency – tune in form anywhere in the world, at the click of a button with no long distance travel or accommodation costs
  • continued learning – catch up on any missed sessions and re-watch your highlights, on demand for up 2 months after the event
  • unite your international teams – as a free event, it offers an opportunity for your whole treasury team to attend. Perfect for encouraging learning and development at all levels

September 27th – October 1st | Virtual

Register Now for Free!



Our (interim) treasury labour market is extremely international

8 questions for International Cash Management expert, Máximo Santos Miranda

30-08-2021 | Maximo Santos Miranda | treasuryXL

Máximo holds a PhD in Economics and is graduated in Law. After 18 years working in International Cash Management in several multinationals coordinating local treasury units with the headquarters or implementing new ones all around the world, he is working as a university professor of financetreasury and business strategies in several Universities and Business Schools in Spain. He is also a regular contributor in international media such as Forbes México, Forbes Centro America or Revista Gestión of Ecuador for the last five years.


“My first job in treasury was the best you can wish for”


As a researcher he has published more than 30 articles in research journals about banking systems, treasury, finance in general, fintechs or international sanctions and at the same time he is a referee in postgraduate research journals. He also collaborates with Think Tanks and international institutions in different ways.

We are delighted to share the interview with Maximo. Let’s dive into his treasury journey and Máximo’s opinion about the future of treasury combined in 8 questions and answers.

1. How did your treasury journey start?

After finishing my studies in economics, my intention was to work for a bank. In fact, my first professional steps were in banking. However, one day I saw a job offer that looked very interesting and I applied for it. Normally, I always prepare the job interviews in detail but this didn’t happen at that time. So, I went to the interview with no visibility of the company I was applying for. After a couple of quick interviews, I was selected as a treasury analyst for Cemex European headquarters.

Everything was perfect. My first job in treasury was the best you can wish for. I was part of the team of international cash management and Cemex at that time was in the middle of fast growth movements. Cemex acquired different subsidiaries worldwide and I was in the center of all those financial flows. There was much stress but the work atmosphere was fantastic and the promotion possibilities were reachable.

2. What do you like about working in the world of Treasury?

Most of my career in treasury has been focused on the international side and that provides an unpayable extra value. Thanks to being an international treasurer I have learned a lot about how treasury and finance work worldwide. I have had the opportunity to see how the banks work in many countries and how different companies from different sectors and industries adapt their cash management to their operative peculiarities and the markets where they are inserted.

3. What is your Treasury Expertise?

International cash management is my greatest strength in the treasury world. Most of the time in my treasury career I have worked as a coordinator of local treasury units. That role has allowed me to see different approaches to similar issues in different countries.

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

In my first years in treasury, I had to coordinate the movement of funds (in three currencies) between different subsidiaries located in different countries and different banks on the same day. The number of funds moved was very high and the number of countries where the money passed through was also high (more than 20 countries in three continents). I was preparing the operation for a week and finally everything went fine. For me it was quite stressful as the operation was completed finally in 15 hours and it was necessary to compensate several delays in the intermediate transactions. When you prepare in detail a complex operation like that and everything is completed as forecasted you feel very proud of all the work done. After that operation, I have coordinated other operations quite similar but the level of stress has been much lower compared with the first one.

5. What has been the biggest challenge in your treasury career?

In the year 2005 Cemex sent me to Italy for three years to set up a new treasury unit in the country. For me it was a big challenge. First of all, because I didn’t speak Italian when I went there and soon I realized that to speak Italian is a key point if you want to do your job properly. Secondly because although I worked for a big multinational, the Italian subsidiary was quite small and the approach of the local banks was completely different to that I saw in the Cemex European headquarters in Madrid.

6. What is the most important lesson that you have learned as a treasurer?

Things work if you prepare them in detail. You can have a very complex operation in your hands but if this operation is prepared in detail (forecasting different scenarios and alternative solutions) the final success is almost guaranteed. Good preparation is the key to success.

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

The function has changed a lot. When I started in treasury in the year 2001 the administrative workload was the most relevant part of the treasury function, at least in time-consuming. Today instead and thanks to technology the time spent on administrative issues have been reduced significantly. That reduction has allowed the treasurer to dedicate more time to other issues that generate more value for the company. A good treasurer today must know much more than before about technology applicable to the treasury function and must also have strategic thinking.

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

The treasury teams will be smaller in the future. The technology will reduce all the administrative treasury tasks to the minimum. The treasurer of the future should be focused on technology, strategic thinking and create additional value for the company. To reach that goal, the corporate treasurer should be passionate about the function and must be always informed of the latest developments in the market. The corporate treasurer should know the latest developments in technology, in treasury products, in treasury strategies… always learning. The treasurers of the future should communicate better and invest time in treasury education and build treasury networks to exchange knowledge with other colleges or experienced treasurers. To sum up, the treasurers of the future should increase their impact in the companies thanks to the technology developments.




Máximo Santos Marinda

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Cloudiness in Libor Transition?

03-08-2021 | treasuryXL | Kyriba | Bob Stark

With less than 6 months to go until the transition from Libor to new overnight risk-free rates, uncertainty lingers as to which rate indices are to be adopted in countries such as the United States.

While regulators remain steadfast in their recommendations that risk free rates such as SOFR in the United States and SONIA in the United Kingdom should be the only choice to replace LIBOR, credit-sensitive rates (CSR) including Bloomberg’s proposed BSBY index remain in the conversation for some market participants and influencers. There are several examples of banks offering new contracts based on the BSBY and other CSRs instead of SONIA, in fact.

Arguments for alternative rates

Proponents of credit-sensitive rates such as Bloomberg’s BSBY, AMX’s Ameribor, and HIS Markit’s CRITS suggest that adopting risk free rates such as Sonia does not solve the underlying transparency issues that plagued Libor in the first place. Bloomberg market experts, such as Umesh Gajria, Global Head of Linked Products, have been referenced arguing that robustness of the highly liquid market instruments supporting their calculated index make BSBY, amongst other proposed indices, resilient to manipulation. Regulators in the UK and US do not agree, stating that the market only needs one replacement for Libor and that replacement must be free of risk and market influence.

Time is running out

Whether SOFR prevails or whether a mix of Libor replacement options remain available to corporate CFOs, with less than 6 months remaining until Libor is discontinued, this rate uncertainty is one of the contributing factors explaining why corporates have yet to transition most of their USD contracts away from Libor. While certain Libor USD tenors will continue to be published into 2023, no new contracts in the United States can be based on Libor effective January 1, 2022. Corporate CFOs are running out of time for a solution to move away from Libor.

Treasury systems support all outcomes

Despite the challenges that corporate treasury teams will continue to experience as they sort out which rates should be used in collaboration with their banks and counterparties, FinTech firms including treasury management systems are prepared for any outcome.

Kyriba offers complete Libor transition support within its cloud solution, including backward-looking compounding calculations, amortizations, and online availability for in-advance and in-arrears risk-free and credit-sensitive rates.

If you have questions or concerns, please reach your dedicated Kyriba representative to setup a consultation with our market teams.

Banks, Fintechs and the Changing Landscape

2-8-2021 | treasuryXL | Pieter de Kiewit

My regular blog readers know I like to take the layman perspective on what amazes me in (Corporate) Treasury. I have my personal archive with relevant news we use to discuss every second week in team meetings. What currently amazes me most are the completely unpredictable developments in what used to be the banking market. Just some recent news:

  • Wise, formerly known as Transferwise does a direct listing in London and is valued at $11 billion. They will invest in further facilitating cross border payments thus offering a bank service substitute; read more
  • The competition of Wise, Revolut receives further investments and is valued at GBP 21 billion. They will establish full banking services building direct competition; read more
  • Mollie, a miniature Adyen, explicitly states that they will beat banks at their game; read more
  • One can also see banks creating their own new brands and services. ABN started Aymz, entering the niche market where RNHB and others are financing real estate in not too big tickets: read more
  • And Niels van Daatselaar, CEO of TreasurUp writes about banks and fintechs working together: read more
  • My final example is Ebury being taken over by Santander: the old world takes over the new contender: read more

A few years ago, the Traditional banks had the upper hand and would buy all parties that threatened them. By now, many Fintechs have a much higher valuation than banks. The extreme liquidity in the markets and willingness to invest leads to a situation that predicting what will be next is hard. I think that future winners find a right balance between applying newest technology, understanding potential clients, choose a clear strategy and move forward at highest speed. Many markets are winner takes all, making the game extra exciting.

I have not found a journalist or researcher who was able to solve this market equation and predict which of the various “eat or being eaten” scenarios will occur. The constant flow of new market entrants will continue. My expectations are that Apple, Microsoft, Google or Amazon entering this market with very substantial investments might be the next game changer. But why would I know?

What do you think will happen?



Pieter de Kiewit

Owner at Treasurer Search




Press release | Kantox joins the treasuryXL community as Premium Partner

28-07-2021 | treasuryXL | Kantox

treasuryXL announces partnership with Kantox to strengthen dissemination of the latest trends about currency management automation technology

VENLO, The Netherlands, July 28, 2021 – treasuryXL, the community platform for everyone who is active in the world of treasury, and Kantox, the global leader in currency management automation software, today announced the signature of a premium partnership.

This partnership will create a new content resource for the treasuryXL community. Treasurers will now have access to a regular stream of insightful and practical content on currency management automation. This partnership 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

Through this partnership, treasuryXL and Kantox are striving to ensure that treasurers are always up to date with the latest news and events in their field.

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 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 Kantox

Kantox is a leader in Currency Management Automation software that enables corporates to effectively manage their FX workflow and leverage currencies for growth. Since 2011, Kantox’s expertise and solutions have allowed businesses to collect FX exposure data and automate their hedging, pricing, payment and collection processes.

The company is headquartered in London and authorised by the Financial Conduct Authority (reference number 580343) and Kantox European Union, S.L. is based in Barcelona and authorised by the Bank of Spain (reference number 6890) For more information, visit, @Kantox LinkedIn.



Impact Funding, Smart way from Investment decision to Funding (Dutch item)

27-07-2021 | Ilfa |

Getting financing is no longer as easy as it once seemed: you went to the bank, your application was approved and you could continue with your business. Now it is a lot more complicated: the banks are reluctant and how are you supposed to know which alternative financing source is right for you and your company? Arnoud Doornbos, Associate Partner of Ilfa, explains that the path from investment decision to successful financing does not have to be difficult, you have to take the right steps.

Je hoort vaak dat het voor mkb-bedrijven moeilijk is om financiering te krijgen. Hoe komt dat?

Het vinden van financiering bij de bank of bij niet-bancaire partijen is altijd een actueel thema. Vaak wordt dit inderdaad als moeilijk ervaren. De oorzaken hiervan liggen de ene keer binnen de mkb-onderneming, bijvoorbeeld omdat het niet financieel niet goed gaat of omdat er geen goede liquiditeitsprognose is, andere keren gaat het om externe factoren, bijvoorbeeld door corona of door de regelgeving van banken, en vaak is het een combinatie.

De terughoudendheid van banken om het mkb op traditionele wijze te financieren is eenvoudig te verklaren: de kosten zijn te hoog. De gemiddelde kostenpost voor een bank met betrekking tot een mkb-krediet bedraagt ongeveer € 5.000,-. Maar ook aan de kant van regelgeving bij banken spelen de ontwikkelingen een rol in het wel of niet willen financieren van het mkb. Als gevolg van de hogere kapitaaleisen voor banken willen zij minder en korter financieren, gaan rentes omhoog en neemt de persoonlijke advisering en ondersteuning van ondernemers af.

Een crisis laat zien dat de bomen niet altijd tot in de hemel groeien. Ondernemen betekent risico lopen en een goede ondernemer anticipeert hierop, heeft inzicht en kan tijdig bijsturen. Zo kun je zorgen dat je interne factoren op orde hebt en voorkomen dat je veel last krijgt van de externe factoren.

Wat zijn naast de terughoudendheid van banken meer recente ontwikkelingen in de financieringsmarkt?

Indien een mkb-ondernemer via de eigen bank op eigen balans een passende financiering kan krijgen, is dit volgens mij de te prefereren oplossing wanneer je kijkt naar de complexiteit en kosten. Mocht deze optie niet afdoende beschikbaar zijn en kan de investering niet uitgesteld worden, dan moet je overwegen om middelen aan te trekken bij niet-bancaire partijen. Dit is niet zo zeer een nieuwe ontwikkeling, tot de vorige eeuw was het zelfs heel gebruikelijk om onderhands leningen te plaatsen bij familie, belanghebbenden of via de beurs. De grote liquiditeit bij banken heeft deze vorm van financieren echter de afgelopen decennia verdrongen.

Door de gewijzigde positie van banken ontstaat er nu opnieuw een rol voor andere partijen in de kapitaalmarkt. Zowel aan de vraag- als aanbodzijde is de markt zichzelf opnieuw aan het uitvinden: grotere transparantie, duurzaam ondernemen, maatschappelijke betrokkenheid en impact en verdere digitalisering moeten een plek krijgen wil men een nieuw publiek kunnen aanspreken. Tegelijkertijd is de wet- en regelgeving in de financiële markt aan het wijzigen. De (Europese) wetgever wil de rechtstreekse toegang van het mkb tot de kapitaalmarkt vereenvoudigen.

Moet je dan kiezen voor een banklening óf een alternatieve lening of is er een tussenvorm?

Je ziet vaak dat ondernemers kiezen voor gestapeld financieren. Dit betekent dat ze naast een bancaire kredietaanvraag ook een beroep doen op andere financieringsinstrumenten, zoals een onderhandse lening, lease, factoring, crowdfunding of de uitgifte van obligaties of aandelen. Gestapeld financieren kan een uitkomst bieden, maar ik vind dat je je altijd moet afvragen hoe je als ondernemer je weg vindt in de snel veranderende kapitaalmarkt. Hoe vind je de juiste bronnen en hou je de kosten van kapitaal in de hand? Volgens mij geeft de Ilfa Roadmap voor funding van ondernemers antwoord op deze vragen.

Wat is dat, de Ilfa Roadmap?

Op basis van onze ervaringen in de financieringsmarkt van de afgelopen 26 jaar hebben wij een stappenplan ontwikkeld. Door de logische opzet, dat wil zeggen het systematisch uiteen trekken van de verschillende stappen in een financiering, en informatie rond nieuwe financieringsbronnen en de regels die daarbij horen, kunnen wij mkb’ers meer inzicht geven in de stappen die genomen moeten worden om tot een succesvolle financiering te komen. Dit kan dus zijn bij de bank, bij een alternatieve bron of via gestapeld financieren.

De Roadmap bestaat uit de volgende stappen:

Ik heb daarbij als doel om de mkb-ondernemer te helpen om zich bewust te worden van keuzes rondom financiering en het formuleren van een eigen beleid daarin. De intentie is om de ondernemer de regie te laten houden over de eigen kredietbehoefte van nu én later. Te afhankelijk worden van een financier is niet in het belang van de ondernemer.

Bij welke soort financieringen kan de Ilfa Roadmap worden ingezet?

Vaak zie je dat het accent ligt op financiering van investeringsbeslissingen, zoals bij vastgoed, inventaris of andere activa, maar bij de Roadmap gaat om de totale financieringsbehoefte, inclusief de financiering van werkkapitaal. We zetten de verschillende stappen, van business case tot en met het beheer van de financiering, systematisch uiteen. Dit betekent overigens niet dat er tussen de stappen geen interactie zit. Soms moet je een of meerdere stappen terugzetten om uiteindelijk verder te komen in het proces. Het steeds toetsen van eerder genomen stappen blijft dus aan de orde. Ik begeleid ondernemers graag in dit proces om samen van investeringsbeslissing naar de uiteindelijke realisatie van de financiering te komen. Bij Ilfa ben ik de laatste tijd regelmatig betrokken bij dit soort trajecten, waar ook een component van (vaak grote) maatschappelijke impact bij zit.

Je noemde maatschappelijke impact eerder ook. Hoe zit het met het rendement van financieringen van ondernemers met maatschappelijke impact?

Een specifieke groep beleggers kan de realisatie van een investering steunen door akkoord te gaan met niet-marktconforme voorwaarden en condities. Het gaat dan vaak om een groep die direct of indirect baat heeft bij het verwezenlijken van de plannen dan wel een groep die vanuit maatschappelijke betrokkenheid wenst dat de plannen gerealiseerd worden. Vaak accepteert men een hoger risico zonder dat hier een corresponderend rendement tegenover staat. Er zijn ook andere opties mogelijk. Hierbij denk ik bijvoorbeeld aan het niet direct betaalbaar stellen van de vergoeding, maar in plaats daarvan het bijschrijven op hoofdsom, hoogte van de vergoeding afhankelijk stellen van de mate van succes van de plannen en/of een (gedeeltelijke) vergoeding in de vorm van een product of een dienst. Verschillende vormen van crowdfunding zijn een goed voorbeeld hiervan. Maatschappelijke vormen van rendement kunnen ook gekoppeld worden aan instrumenten die via de traditionele routes worden aangeboden of verkregen.

Dat klinkt best ingewikkeld!

Dat valt mee, maar financieren is wel echt een vak. De strategie die de organisatie moet formuleren dient aan te sluiten op de mate van risico dat men wenst c.q. kan lopen. Het profiel van de onderneming zal hierin een belangrijk gegeven zijn. Zo zal een starter veel flexibeler willen blijven dan een organisatie die al een tijd staat en goed draait. Ik neem vaak na het profiel het kostenaspect in ogenschouw. Gegeven het gekozen profiel streef ik naar een optimale verhouding tussen risico en kosten en rendement. Mijn motto is dat een goede voorbereiding het allerbelangrijkste is om een financieringsaanvraag succesvol af te ronden. Kort samengevat bestaat een goede voorbereiding uit:

  1. Het business plan
  2. De analyse
  3. De risicoscan
  4. Een antwoord op de vraag: wat voor soort geld heeft de onderneming nodig?
  5. En een antwoord op de vraag: bij wie kan de ondernemer aankloppen voor dit soort krediet en risico?

Als een mkb-ondernemer zich via deze stappen goed voorbereid wordt de juiste financiering bij de juiste aanbieder gevonden. Je voorkomt dat de ondernemer met onvoldoende onderbouwing bij een verkeerd loket aanklopt. Onze aanpak wordt herkent én erkent door de financiële markt.

Het is dus niet heel ingewikkeld als je weet wat je moet doen. Hebben mkb’ers genoeg kennis over financieringen?

Er is een stijgende vraag naar informatie. Als je naar de cijfers kijkt, zie je dat een op de acht ondernemers (13 %) per jaar behoefte heeft aan informatie over financiering. De helft van hen wint deze informatie in bij de bank (51 %) en op internet (46 %). Een derde (30 %) raadpleegt een financieel adviseur, 24 % een accountant en 21 % een boekhouder. Daaruit en uit mijn ervaringen en gesprekken met ondernemers concludeer ik dat bij veel mkb-ondernemer onvoldoende kennis aanwezig is over financieren. Dat hoeft helemaal geen probleem te zijn. De mkb’ers zijn dagelijks bezig met hun bedrijf en hun werkzaamheden. Ik zie voor adviseurs als Ilfa een mooie rol weggelegd. Wij kunnen met onze passie voor financieren ondernemers steunen, zodat zij zich kunnen blijven toeleggen op hun passie: ondernemen.










Front Office Financial Resource and Capital Optimisation | September 9-10, 2021

20-07-2021 | treasuryXL | Kendra Keydeniers | Marcus Evens

Optimising margin and capital consumption for derivative portfolios under margin rules, FRTB and SA-CCR through effective risk and trading strategy.

London, UK or Virtual

9th – 10th September, 2021 | 08:30 BST

Financial Resource Optimisation has become of paramount importance for trading businesses after a decade of increased regulation and diminishing margins. Banks are required to hold enough capital to absorb losses and in recent times the minimum requirement for capital in derivatives trading has increased due to the push towards central clearing, margin reforms, XVA and Basel regulations.

The increasing capital requirements, increases the cost of the derivatives business which makes it even more important for banks to allocate capital for optimal return. With smarter portfolio and day to day trading along with utilisation of technology to help identify opportunities and improve trading decisions, banks can manage to create a capital efficient product mix that meets regulatory demands and leads to optimisation of capital and resources in the front desk.

The marcus evansFront Office Financial Resource and Capital Optimisation’ conference will bring you one step closer to creating the optimal capital focused business model in the current climate. Attend in London on 9-10 September, 2021 or join virtually, and hear insights from industry experts on how to optimise margin and capital consumption for derivative portfolios under margin rules, FRTB and SA-CCR through effective risk and trading decisions.

Attending This Premier marcus evans Conference Will Enable You to:

  • Assess the impact of regulation such as UMR, SACCR, leverage ratio and FRTB on capital.
  • Establish a dynamic portfolio that can take advantage of opportunities for optimising margin and capital.
  • Consider the day-to-day trading decisions and how this impacts P&L and capital.
  • Exploit methods for financial resource optimisation such as technological opportunities, compression, innovation, etc.

Practical Insights and Case Studies from Industry Experts, some of which include:

  • Guillaume Dechambre, Director, XVA Strategy, BMO Capital Markets
  • Jesper Thye-Oestergaard, Head of Liquidity and Capital Analytics, Nordea Markets, Corporates and Institutions
  • Sandeep Shukla, Head of USD Swaps Trading, Natixis CIB Americas
  • Jean Jacques Kamdem, Global Head of Traded Credit Analytics, HSBC Global Banking and Markets
  • Thomas Rohold, Head of Financial Resource Management, Senior Vice President, Danske Bank
  • Matteo Angeloni, Director, XVA Trader, National Australia Bank
  • Andrew Green, Managing Director and XVA Lead Quant, Scotiabank

For more information please contact: Ms Ria Kiayia, Digital Media and PR Marketing Executive at [email protected] or visit:

I wish you a great event!

Kendra Keydeniers

Director, Community & Partners at treasuryXL

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.



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: 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.