Recap & Recording: Empowering Treasurers, Trade Finance Management Strategies

Recap

Eddy Veenstra emphasized the importance of payment guarantees and performance bonds in international projects at Vanderlande and highlighted customer preferences for bank guarantees, even from lower-rated banks. Niki van Zanten stressed the need for bid bonds and navigating guarantees efficiently.

The discussion uncovered the challenges faced by smaller companies dealing with complex trade finance requirements. The speakers stressed the connection between financing and supply chains and the need for modernization.

They also discussed the move away from outdated processes , emphasizing on streamlining processes, collaboration platforms, and corporate-to-corporate approvals.

Eddy shared his experience at Vanderlande, where new procedures and standardized forms simplified guarantee issuance and portfolio management. Risk mitigation and finding a balance between speed and risk management were key topics.

The panelists highlighted the complexity of trade finance processes and the role of technology, such as connectivity through APIs but also language models like ChatGPT, in streamlining assessments of legal documentation.

Surecomp’s efforts to improve corporate guarantee issuance processes were showcased, with a focus on management, reporting, and digital communication, resulting in cost savings and efficiency improvements.

Lastly, the selection processes for banks and suppliers in trade finance were discussed, emphasizing the importance of balancing regional needs, currency requirements, and customer preferences.

Pieter’s final question to the panelists was about their insights into the developments expected in trade finance over the coming years and decade. To discover their intriguing responses and outlook, please tune in to the recording…

Go to our Live Session recording page to watch our previous sessions. Enjoy!