Only 5 days left until the International Treasury Management Virtual Week 2020

| 16-09-2020 | Eurofinance | treasuryXL |

Don’t miss the Treasury Event of the Year! If you haven’t signed up already, here is a reminder to join this great virtual event with incredible speakers and live sessions.

Virtual Event

Now more than ever, we need to learn and engage with other treasury professionals around the world, so that we can navigate and overcome the unprecedented challenges we are facing.

As the current situation unfolds, the role of the corporate treasurer is evolving and becoming more strategic than ever before. The complexities and function of treasury within the business is changing even more rapidly. The question is: What does the future of treasury look like and how will this affect my team? And where can I turn for world-class advice on building resiliency, supporting the business and addressing future challenges?

Look no further than EuroFinance’s International Treasury Management Virtual Week taking place 21-25 September. It will see world-leading treasurers and economists come together to address these issues, deliver big picture global insights and share the essential granular knowledge you and your team need for the path ahead. In the spotlight will be the latest on cash flow forecasting, supply chain finance, tech, liquidity and FX and payments plus much more.

Speakers and Live Sessions

The line-up of speakers is impressive with the likes of Shell, Alibaba Group, HP Inc., eBay, Finnair, Microsoft, Intel Corporation, Schlumberger, Booking Holdings Inc. and Rio Tinto holding centre stage in one of the 75+ live sessions. But don’t worry if you miss a session, they will be available on-demand for you to watch at a time that suits you.

The custom-built virtual conference platform will bring the experience of a live event to life in a virtual world. It offers plenty of opportunities to network and learn from your global peers, plus a smart calendar to build your schedule.

Free Registration

The great news is, the 2020 event comes without a price tag! It is free for corporate treasurers. So, you can get all the world-class expert knowledge and insights you expect from the leading treasury event without the costs of registration, flights, accommodation or even expenses.

What are you waiting for? Set your treasury team up to thrive not just to survive.

Register for free today!

 

The Treasurer’s Toolkit: Unpacking the DNA of a successful treasurer in 2025

8-9-2020 | treasuryXL | Refinitiv |

How did treasurers become the guardians of business risk?

In the aftermath of the financial crisis, corporate treasury teams were thrust into the spotlight when businesses prioritised cashflow as banks’ appetites to lend waned. Since 2008, the role of the corporate treasurer has evolved from that of a diligent back-office function, to increasingly become more of a strategic advisor to the board. Today’s corporate treasurers have a much broader remit and the subsequent onslaught of regulations such as Basel III, Dodd Frank, MiFID II and the International Accounting Standards have ensured that the treasurer now plays a critical role in ensuring the survival, and success, of businesses.

To sustain this advisory relationship with senior stakeholders and further develop as a strategic lead in the global competitive business landscape, corporate treasurers must understand the vital skills and relevant experiences that will not only help propel their careers but differentiate them from others in the market.

78 per cent of respondents agree that treasurers across the world are now expected to do more with less

In this ground-breaking research report The Treasurer’s Toolkit, Refinitiv has identified key trends in how corporate demands have shaped the skillsets, desired experience and typical profiles of the modern corporate treasurer. Our research incorporated the views of 250 CFOs, heads of finance and recruitment professionals, across five continents in businesses varying in size, from fewer than 100 employees to more than 5,000. In this report we take a deeper dive into the research, to unpack the DNA of the successful treasurer, now and in the future.

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

EuroFinance International Treasury Management Virtual Week 21-25 September 2020

| 25-08-2020 | Eurofinance | treasuryXL |

The pandemic sent shockwaves through global financial markets and confronted businesses with extreme scenarios.

Virtual Event

Now more than ever, we need to learn and engage with other treasury professionals around the world, so that we can navigate and overcome the unprecedented challenges we are facing.

As the current situation unfolds, the role of the corporate treasurer is evolving and becoming more strategic than ever before. The complexities and function of treasury within the business is changing even more rapidly. The question is: What does the future of treasury look like and how will this affect my team? And where can I turn for world-class advice on building resiliency, supporting the business and addressing future challenges?

Look no further than EuroFinance’s International Treasury Management Virtual Week taking place 21-25 September. It will see world-leading treasurers and economists come together to address these issues, deliver big picture global insights and share the essential granular knowledge you and your team need for the path ahead. In the spotlight will be the latest on cash flow forecasting, supply chain finance, tech, liquidity and FX and payments plus much more.

Speakers and Live Sessions

The line-up of speakers is impressive with the likes of Shell, Alibaba Group, HP Inc., eBay, Finnair, Microsoft, Intel Corporation, Schlumberger, Booking Holdings Inc. and Rio Tinto holding centre stage in one of the 75+ live sessions. But don’t worry if you miss a session, they will be available on-demand for you to watch at a time that suits you.

The custom-built virtual conference platform will bring the experience of a live event to life in a virtual world. It offers plenty of opportunities to network and learn from your global peers, plus a smart calendar to build your schedule.

Free Registration

The great news is, the 2020 event comes without a price tag! It is free for corporate treasurers. So, you can get all the world-class expert knowledge and insights you expect from the leading treasury event without the costs of registration, flights, accommodation or even expenses.

What are you waiting for? Set your treasury team up to thrive not just to survive.

Register for free today!

 

Scoren met treasury in kleinere organisaties

| 19-08-2020 | treasuryXL | Pieter de Kiewit

Kosten besparen, business kansen creëren en risico’s verkleinen, dat is wat goede treasury elke organisatie kan brengen, dus niet alleen de multinationals. Als treasury aficionado zie ik dagelijks dat organisaties zichzelf tekort doen. In dit artikel maak ik graag concreet waar ik het over heb omdat ik merk dat velen het vakgebied onterecht complex vinden.

Kosten besparen

Het managen van geldstromen kost geld:

  • De bankier als loodgieter stuurt ook een rekening, vaak alleen niet zo expliciet. Deze rekening is bijvoorbeeld voor transacties en het aanhouden van rekeningen. De realiteit is dat de meeste organisaties en vaak ook hun banken geen voortdurend zicht hebben op deze kosten en dat ze voortdurend wijzigen.
  • Wat ook wel eens gebeurt is dat voor één internationale betaling even veel (per stuk) wordt betaald als voor 5.000 internationale betalingen. Dit terwijl kwantum korting van toepassing is.
  • Wat ik ook regelmatig zie is dat een bepaalde financieringsstrategie is gekozen waarbij een oplossing de markt conforme prijs heeft maar de juiste oplossing niet is. Rood staan op een rekening courant is veel duurder dan een hypothecaire lening. Vaak wordt niet nagedacht over wat de juiste oplossing is.
  • De laatste van vele voorbeelden die ik wil noemen is dat diverse offertes aanvragen bij diverse leveranciers kan leiden tot substantiële kostenbesparingen. Vaak is de huisbank best bereid een lager tarief voor een dollar deal te berekenen en zijn er velen die nog goedkoper kunnen leveren.

Het zijn simpele oplossingen maar de tijd wordt er niet in gestoken.

Business kansen creëren

De gereedschapskist van een treasurer zit vol oplossingen die het verschil kunnen maken tussen een kans verzilveren of niet. Zo zie je in bijvoorbeeld projecten organisaties of bedrijven die leveren in exotische oorden, dat de business stopt op het moment dat de klant pas wil betalen na complete levering. Dat kan te risicovol lijken of het kan zijn dat de leverancier de upfront kosten niet kan dragen met eigen middelen. Via garanties, letters of credit, borgstellingen door de overheid of projectfinanciers kan de business dan soms toch worden gerealiseerd. En besef goed, niet zo lang geleden was (equipment) leasing nog geen geaccepteerde oplossing. Nu kunnen transporteurs verladingen aanbieden en kunnen de vrachtwagen producenten meer produceren.

Risico’s verkleinen

Bij treasury en risico wordt vaak gedacht aan rente en valuta. Dat is terecht, de bijbehorende risico’s moeten prudent worden aangepakt. Een veel belangrijker risico is beschikbare liquiditeit. Goede treasurers kunnen forecasten en ingrijpen om cash beschikbaar te maken voor de organisatie. Extra faciliteiten vanuit de bank, doordacht werkkapitaalmanagement, managen van betalingstermijnen en tools als factoring kunnen het verschil maken tussen overleven of niet.

Hulp nodig?

Met deze korte opsomming wil ik duidelijk maken dat voor iedere organisatie treasury van grote waarde is. Dat kan met een expert op de payroll, met eigen boerenverstand of met een tijdelijke oplossing (Rent a Treasurer). Het gaat niet om complexe materie, wel om de bereidheid af en toe een stap terug te doen en het vakgebied te overzien.

Zullen we overleggen? Wie weet kan ik u in contact brengen met de expert die voor u het verschil kan maken.

 

 

Pieter de Kiewit

Owner at Treasurer Search

Meet our Experts – Arnaud Béasse

28-07-2020 | Arnaud Béasse | treasuryXL

Welcome to the 10th and last (for now) interview of the ‘Meet the Expert’ series. This time we interviewed our brand new Expert Arnaud Béasse. Arnaud is founder of the advisory firm Arts+Brands and an expert in Debt Management. He started his career as Regional Financial Controller, cumulating the responsibility for IT.

Arnaud has more than 17 years experience in Banks focusing successively on Structured Asset Finance, Corporate Banking, DCM and in Multinational Corporates for their Energy and Metals trading and Project Finance. He created Arts+Brands to expand his entrepreneurial spirit by advising small ventures and start-ups (Fintech, Biotech, IT) for their Fund Raising and Finance strategy and also by getting involved in the daily operations.

Arnaud is fluent in English, German and French and is used to work in international, multi-cultural and virtual teams environments.

We asked him 11 questions, let’s go!

How did your treasury journey start?

During my first assignment as a regional financial controller, I have been immediately confronted to a complex consolidation of cash streams from different emerging countries with different currencies and regulations. Finding secure and systematic solutions has been challenging but also interesting and fun. This was the beginning of my treasury discovery, from which I moved then to asset finance, project finance, trade and export finance and later to the complete « corporates and markets » solutions offered by a large European bank.

What do you like about working in Treasury?

I find the central role played by treasury in supporting a business very motivating: it manages all financial resources a business needs to generate returns. Perfect understanding and anticipation of the needs (planning) and an accurate analysis of the resources available (controlling) are therefore essential. I also like the necessity of combining short term priorities like cash management and long term planning like investments.

What is your Treasury Expertise?

Capitalising on my long banking and large corporates experience, I have acquired a strong knowledge of all kind of debt solutions associated with credit, regulatory, compliance competencies. I have specialised in Debt Management, Fund Raising, Asset Finance, Leasing, Cash Flow Management, Trade and Export Finance and Project Finance. I am currently focusing on Sustainable Finance to support firms aligning their finance resources with their commitments towards the environment.

What’s the most important factor in debt management?

The starting point of debt management is a careful analysis and control of the cash flows. Borrowings need to align with the business cycle of the company and eventually its equity profile. Once the needs of each business line and the corresponding cash flow generation are consolidated, the adequate debt structure can be designed with a mix of junior to senior, short term to long term solutions and a calibrated interest rates structure.

What has been your best experience in your debt management career until today?

I remember a dramatic situation occurring during a local currency crisis in an emerging country, where we had arranged a large equipment finance. The debt repayment plan did not anymore match with the borrower’s cash flow generation and we were heading straight to a default situation. After long and numerous discussions, we managed to get transferred a large position on natural resources the company was owning but not operating and structured it in a way that the majority of risks were covered, the credit committees and respective boards were satisfied and ultimately the borrower managed to earn additional profit. I admit there is a part of luck in this experience but getting from this desperate situation to a point where all parties were so happy has been my most fulfilling experience so far!

What has been your biggest challenge in your career?

I consider the toughest challenges in a company are almost always linked to human resources management and termination of assignments. But if we remain within the treasury topic, my biggest challenge so far has been to accept a board decision not to conclude an M&A transaction, whereby all indicators (profit, risk, market position, further opportunities) were very favourable for the group and I had worked for more than one year on the case. Some months later, upon publication of the yearly results, it became clear why the project was rejected!

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

Along the various experiences I had with treasury, the most important lesson might be to always seek the most simple and straight forward option. There are many ways of hedging a currency position, improving the average interest rate of a pool of debt facilities, leverage the value of an asset, optimise the return of positive cash position. But the risk and time associated to it can rapidly be disproportionate to the purpose and the size of the original transaction. Treasury shall normally create value, not necessarily profit!

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

Obviously, the role of Corporate Treasurer has become more and more complex. Treasury needs to deal with an increasing availability of alternative financial products, intensifying risk management requirements, regulatory and compliance constraints. But at the same time, the emergence of digital treasury platforms and integrated cash management systems are making the steering of treasury much easier and more accurate.

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

Treasury is between a rock and a hard place: as a consequence of the crisis, sales are dropping and cash flows are missing but the financial obligations (debt, salaries, rents, supply, …) remain and the access (if not the availability) of financial resources become difficult. For treasurers who had a prudent cash flow management with enough resources to bridge the gap, it has been a confirmation for their risk management strategy. For others with more lean structure, it is, in the best case, a very stressing moment trying to find last minute and costly (not only in terms of interest rates) funding solutions. Some businesses, which have bet on a very tight business model, will probably be restructured. The crisis will certainly lead corporates to adopt more careful models with sufficient reserves and flexible organisations but also postponed or reduced investments.

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

The main trend is definitively the further digitisation of the treasury functions, offering more reliable, more secure and faster execution of the transactions: payments, cash management, trading, trade and export instruments, guarantees, etc. As the execution of transactions will be more and more automated and integrated in the supply chain systems, treasurers will shift their focus on analysing and planning for the financial resources in order to formulate strategies.

Another interesting trend for the treasurer is the further development of the non-banking debt market. This shall broaden the borrowers’ horizon, balancing again the bargaining power in favour of the corporates and generating even more tailor-made/OTC debt solutions.

What is your best advice for businesses without a Treasurer?

Running a business without a treasurer can only be considered for small businesses. For standard operations, managing the daily needs with modern digital tools will always become easier, even if substantial support shall be required during the implementation of a system. Once the system is running, the daily treasury tasks can be integrated in the accounting and finance agenda.

However, as soon as operations get more complex (investment, take-over, international development, restructuring…), the support of a specialist remains essential, be it for a limited period of time like part-time or ad interim…

 

 

Arnaud Béasse

 

 

 

 

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

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



Meet our Experts – Vincenzo Masile

21-07-2020 | Vincenzo Masile | treasuryXL

Welcome to interview #9 of the ‘Meet the Expert” series. This time we interviewed our Expert and Treasury Specialist Vincenzo Masile. He is an experienced international finance manager who lived and developed his career in Italy, The United Kingdom, Switzerland and The Netherlands. Currently, he lives in Amsterdam, and enjoys working with people from different countries.

His fields of expertise are:

We asked him 11 questions, let’s go!

1. How did your treasury journey start?

Back in 2008 I was working as a credit manager for a large US agricultural commodities, ADM, at their cocoa operations in The Netherlands and I was asked to spend six months in Switzerland at the newly created treasury hub.

2. What do you like about working in Treasury?

I enjoy the variety of the tasks and the communication with the different company stakeholders.

3. What is your Treasury Expertise?

Cash Management, People Management, Project Management, FX, Reporting, Banks Relationships

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

I was the PMO of a hedging project at Netapp for the EMEA region back to 2012. Cost savings opportunities were identified improving the process accuracy on Oracle 11 and simplifying the reporting to corporate.

At Affidea I changed the cash flow forecast reporting moving from a fully manual version to a partial automated version. This change generated time saving and more accuracy.

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

On April this year I completed an eighteen months assignment at Affidea B.V., a Dutch pan-European medical healthcare and I worked mainly from their finance ops in Budapest and occasionally from their holding office in Amsterdam.

It was a very interesting and valuable experience.

6. What has been your biggest challenge in treasury?

Lack of cash visibility especially at country level has been one of the biggest challenges I had to face to.

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

A treasurer has a watchdog role over all aspects of financial management and indeed cash will be always the King!

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

Treasury evolved from a traditional finance role into a business enabler supporting the company growth. In that respect effective communication & collaboration across different areas of business is the key.

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

My view here is that treasurers should take the following steps going forward:

  • Cash flow management:  This is even more critical as we move beyond COVID-19
  •  Determine cash availability: Enables informed decisions around liquidity and cash flow, debt, FX exposures and payment priorities
  •  Scenario testing: Ensures understanding of preparedness for shocks
  •  Engage with relationship banks: Opportune time to partner with banks to fast track digital adoption of tools that provide visibility, efficiency, fraud control etc.
  •  Digitize manual processes: Ensures enhanced controls are put in place where manual payments remain – to mitigate cyber and fraud risk
  •  Monetize inventory: Inventory may be temporarily surplus to requirements because of demand gluts or supply chain disruption

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

Technology will play a major role in the future and this can be only beneficial to corporate treasury. Payments platforms, Fintech, Trade finance blockchain solutions, outline that the future is already here.

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

It depends on the size of the company but generally speaking I strongly recommend to have on board a treasurer.

 

 

Vincenzo Masile

Treasury Expert/ Credit Risk Manager

 

 




 

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

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



Meet our Experts – Arnoud Doornbos

14-07-2020 | Arnoud Doornbos | treasuryXL

Our Expert Arnoud is Associate partner at ILFA Group and Managing partner at Smartfunding Haarlem. With over 30 years of experience both as Investment banker and with listed and non-listed corporates, Arnoud is specialised  in Cash Management, Risk Management, Corporate Finance, FX, Interest Derivatives, Consultancy, interim management, financial engineering, and finance arrangements.

We asked him 10 questions, let’s go!

1. How did your treasury journey start?

After studying business economics I started working as an accountant. After a few years, I was able to read balance sheets and had seen many companies inside. My wish was to do something commercial with that knowledge. So after 4 years, I switched to banking and became a treasury sales advisor with a Dutch bank, NCB Bank. That was the beginning of a long career as an investment banker with various domestic and foreign banks. I moved from junior dealer to Head of Sales at Deutsche Bank, Rabo International and BNP Paribas. I became an expert in FX and interest rate derivatives and became a treasury advisor to a number of large corporates. In 2013 I had the opportunity to co-own a treasury consultancy / IT company in Belgium, called Treasury Services. There I was responsible for the marketing and sales of the company. I obtained consultancy assignments and sold the treasury software, a treasury management system called TreasuryMetrics. During that period I gained a lot of treasury knowledge and in combination with my banking experience I was able to give our customers good treasury advice. At the end of 2017 I sold Treasury Services to Ilfa, where I am now an Associate Partner and I am a senior treasury consultant.

2. What do you like about working in Treasury?

Working in treasury is fun and interesting because in that position you actually see everything that happens in the company like a spider in the web. All business matters that generate money flows go through your treasury department. In addition next to cash management a good risk management is very important.

3. What is your Treasury Expertise?

I find it interesting to correctly identify and quantify the financial risks. Then mitigate the risks with the right financial instruments. My banking background with 25 years dealing room experience makes me an expert in pricing and executing of financial instruments. I really like the pricing and execution of hedging products. Specially FX and interest rate derivatives and loan pricing.

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

One of my relations took over a company in the UK. This investment was paid in GBP. A translation risk EUR/GBP therefore arose. The customer asked what is the best to buy the GBP. I advised him not to buy the GBP but borrow it from the company’s EUR liquidity through FX swaps. If he had bought the GBP, a FX risk would have been created 100% by the GBP amount on top of the newly created risk of a subsidiary in the UK. Translation risk on foreign assets is NOT a FX issue but instead a finance issue. For another large corporate, i executed the unwind of a large CCIRS portfolio in EUR/USD. Due to my banking dealing room background, I was an equal counterparty to the banks in the negotiations and I was able to make significant savings on transaction costs.

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

My best treasury experience is that I have been involved in a M&A case where the customer made a major acquisition in the USA and I had to hedge the currency component of that transaction. More than a billion USD were involved. I was on the customer’s deal team, behind the Chinese wall. First all secret discussions internally and with the banks involved. The credit facilities had to be arranged before we could do the execution. At the end the large execution was done with Algo trading with the banks. Algorithmic trading is a method of executing orders using automated pre-programmed trading instructions that take into account variables such as time, price and volume.

6. What has been your biggest challenge in treasury?

There are a lot of regulations hitting our banks and us, and the financial arena is changing. In Europe, we are now facing the challenge of negative interest rates that, apart from lowering our interest payments, has other effects. A treasurer need to be light on foot and quick to react to these challenges, and understand their importance. My biggest challenge is being able to navigate in an ever-changing world.

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

The Treasurer’s area of ​​activity consists of supporting the company / CFO in managing and controlling the company’s balance sheet (Corporate Finance Management), managing and controlling financial resources (Treasury operations) and managing and controlling financial risks. of the company (Financial Risk Management). The role of a Treasurer has become more and more a strategic business partner of the CFO and teams such as Control, Tax, Accounting and Legal, and provides support to business units, sales teams, etc.

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

The corona crisis has a major impact on our daily lives. A lot will change in the coming period, both business and private. Orders and appointments are canceled, customers cannot pay (on time) and purchasing and sales are difficult. As a company or organization, it is now more than ever important to know how your company is doing in the coming months. It is important that you have a clear financial overview. In good times this helps you to manage your money wisely and in uncertain and bad times you know where you stand and where to adjust. Liquidity management is simply the systematic management of money that enters and exits your company. You systematically look ahead to your cash balance. For many companies it is an integral part of the business, but how do you ensure that you can manage your liquidity as well as possible? A solid and proper cash flow forecasting will assist you in this.

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

The last few years have been eventful for treasuries. We have had to react to a number of regulatory changes and a vibrant macro environment, while operating in the shadow of the 2008 global financial crisis and more recently the Corona crisis. We have also had to respond to changing working practices, as automation and digitization have enabled easier and faster transaction and communication processes. With organisations seeking to introduce leaner, more efficient and increasingly automated operations, it may seem logical to suppose that treasuries will assume a progressively transactional role. However there is still a significant amount of wariness regarding the stability of the world’s capital markets — a concern that feeds into many treasury priorities, such as liquidity, hedging of risk and bank relationships. With these key concerns top of the mind in the treasury, many businesses are looking to their treasury departments to act as internal advisers and provide strategic input on funding requirements and how best to limit exposure.

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

Every organization has to deal with treasury. Even if it only has 1 bank account, treasury actions must still be performed. Ilfa makes it possible for any organization to have its own professional treasury function, regardless of the size of the organization and the experience in the treasury field. Our service and systems give you quick and clear insight. Consider the course of your liquidity, interest rate and currency risks. In addition, you know which financing is best suited and we help you reduce your bank costs. A treasury does not aim to beat financial markets, but systematically monitors the money flows of your organization and the development of financial risks. This way you can identify in time and then act. A company without its own treasury can rely on Ilfa’s special services, Treasury as a Service (TaaS). Many organisations are too small to have their own treasury department. On an ad hoc or continuous basis, Ilfa takes the companies concerns about the execution of treasury tasks off their hands in a way that suits their organization and wishes best.

 

Arnoud Doornbos

Interim Treasury & Finance | Consultant

 

 

 

 

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

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



Meet our Experts – Interview François de Witte

07-07-2020 | François de Witte | treasuryXL

After having worked for more than 30 years in banking, our expert François de Witte launched his own consultancy activity, FDW Consult, specialized in finance and treasury consulting. From 2014 to 2016, he was also Solution Partner Treasury & Finance at USG Professionals. Since then he took up several assignments, including one in the automotive sector with Ginion Group and with Ibanity, part of Isabel Group in the area of PSD2 and open banking. He currently is Senior Project Manager Treasury at Gaming1 (part of Ardent-Group). He is also co-founder and CFO of SafeTrade Holding. Key areas of expertise:

We asked him 11 questions, let’s go!

1. How did your treasury journey start?

My roots are not really in treasury, because I have spent 30 years in banking with ING. Mid-2013, I made a major career move to treasury & finance. I could thereby leverage on the expertise I acquired in both Corporate Banking and Payments & Cash Management.

2. What do you like about working in Treasury?

The diversity of topics and people with whom you are in contact. The treasurer monitors the cash & finance, and is in the frontline of the circulatory system of the company. In addition, in view of the technology developments and the globalisation, treasury is a fast moving discipline,

3. What is your Treasury Expertise?

Based upon a gap analysis, during the first couple of years, I strengthened my expertise in the other areas of treasury by self-training. I also started training in some subject matters, at the university and at other training organisations, and this is a good way to keep yourself updated on the latest developments.

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

I have done quite a number of consultancy assignments. In one of them, thanks to a complete review of the processes, including also the business, we managed to gain some 10-15 days working capital management. In another project, we reviewed the account structure and the bank lines and could generate substantial savings. During a treasury scan, I was able to identify foreign exchange risks, which had not been spotted by the management.

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

In my current assignment, we have selected a TMS-solution (Kyriba) and are currently finalising the implementation. Simultaneously we created a cash pooling and an In-House bank and streamlined the processes.

6. What has been your biggest challenge in treasury?

When starting in treasury, I did not have experience on the field, and needed to switch from a banker’s approach to a corporate approach. If you want to be successful, you need to also have operational experience. I have spent at the start quite a lot to train myself and to get up to speed in treasury.

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

Cash is and remains king. It is very important to make the management aware of the importance of cash, even if a company is in a cash-rich position.

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

The Treasurer is becoming a business partner of the whole group. As a treasury, you get a good transversal view of the business flows. This is very nice because you are in the cockpit of the finance department.

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

The COVID crisis was a wake-up call. It reminds us that it is important to keep the focus on cash and working capital management. It also highlighted the importance of good well-balanced banking relationships. During the last years, some corporates did not put the right attention to this.

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

Cash will remain dominant. In addition, we have the automation enabling to work more efficiently. I also see AI (Artificial Intelligence) as enabler, e.g. for cash forecasting. Blockchain will also add value in some areas, such as documentary trade.

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

 Even if you do not have the critical mass to justify a treasury department, give it the right attention. Try to understand the drivers of your cash generation and to identify the risks. I would also recommend to invest in a treasury management scan.

 

 

François de Witte

Founder & Senior Consultant at FDW Consult

 

 

 

 

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

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



Webinar | July 16 | Mitigating Fraud With a Corporate Payment Hub

| 22-06-2020 | treasuryXL | Kyriba |

In today’s changing IT environment, we see more corporates exposed to the risk of fraud, due to legacy controls and manual processes. With many companies applying a new ‘working from home’ strategy, the risk of fraud is bigger than ever before.

In today’s changing IT environment, we see more corporates exposed to the risk of fraud, due to legacy controls and manual processes. With many companies applying a new ‘working from home’ strategy, the risk of fraud is bigger than ever before.

During this webinar we will hear:

  • How does a payment hub support you in mitigating fraud?
  • What is rules based fraud detection?
  • Why is machine learning an important part of our fraud detection?
  • How does fraud detection fit in your overall payment processes?

Paul Simpson, Strategic Payments Director at Kyriba, together with Value Engineer, Alroy D’Cruz, will discuss these most important questions and will give you an insight on how Kyriba is supporting over 2,300 of your peers worldwide with our SaaS Payment Fraud solutions.

Presenters:

 

 

 

PAUL SIMPSON

Strategic Payments Director, Kyriba

 

 

 

 

 

ALROY D’CRUZ

Value Engineer, Kyriba

 

 



Submit on the registration page and save your place.

 

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.