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Senior Treasury Analyst @ Albemarle

Amsterdam – Full-time Read more

2021 Treasury Technology Analyst Report

13-12-2021 | treasuryXL | Gtreasury | LinkedIn |

The 2021 Treasury Technology Analyst Report is the definitive guide to today’s technology for Treasury & Risk Management, Treasury Aggregation, and Supply Chain Finance and Cash Conversion. Request your copy to learn more about these technologies and evaluate how GTreasury stacks up for treasury and risk management.



2021 Treasury Technology Analyst Report

A digital treasury technology evolution is a big undertaking. With so many types of solutions to choose from, it’s hard to know where to start. We recommend you start with this report – The 2021 Treasury Technology Analyst report. It will help you understand the benefits and selection criteria to consider for three types of valuable treasury technology solutions: Treasury and Risk Management Systems (TRMS); Treasury Aggregation Solutions; and Supply Chain Finance and Cash Conversion.

Topics covered in this 64-page report include:

  • The shift to emerging technologies
  • The value of API connectivity
  • The power and value of a networked technology ecosystem
  • Principles of treasury technology selection and implementation
  • Definitions, Challenges/Solutions, Selection Criteria, and the Future of each of the three types of technology.

Request your copy to learn more about these technologies and evaluate how GTreasury stacks up among treasury and risk management platforms.

 

Complete the Form to Get Your Complimentary Copy Now!

 

Manager Cash & Collateral Management @ APG

Heerlen – Full-time Read more

GTreasury Announces 2021 Cash Forecasting & Visibility Survey Report, Which Covers Key Trends in Corporate Treasury

03-11-2021 | treasuryXL | GTreasury |

The new report provides in-depth insight into cash reporting, cash forecasting, and technology practices and expectations across hundreds of treasury teams

CHICAGO, Ill. – November 3, 2021 – GTreasury, a treasury and risk management platform provider, and Strategic Treasurer, which delivers consulting services for treasury management, security, technology, and compliance, today announced the release of the 2021 Cash Forecasting & Visibility Survey Report.

The survey of nearly 250 treasury professionals from across industries and continents sheds light on the current state of corporate treasury’s cash reporting practices, cash forecasting methods, technology strategies, and expectations around technology spend.

Highlights from the 2021 Cash Forecasting & Visibility Survey Report include:

  • Treasurers want real-time global cash position updating. The majority of treasurers are seeking global cash positions that can update on a real-time or intraday basis, but many report being stuck with weekly (or less frequent) updates. Just seven percent of survey respondents are currently achieving real-time cash position updates.
  • Generating cash positions is three times harder without a TMS. Only 10% of treasurers using a treasury management system report difficulty generating their cash position, compared to 33% of those who use other methods.
  • The use of AI and ML in cash forecasting is nascent but accelerating. While just 6% of respondents are currently using AI/ML for forecasting, the report indicates that number should swell to 27% of organizations within the next two years.
  • More budget is being allotted for treasury and forecasting technology. Over the next year, more than 35% of companies plan “extremely heavy spending” on treasury systems and forecasting.
  • Generating cash forecasts is difficult for half of all treasurers. Just 23% of treasurers report that building cash forecasts is a simple process within their organization, compared to the 48% of respondents indicating difficulty with this task.
  • Excel forecasters are more dissatisfied than their TMS/ERP-using peers. Compared to treasurers relying on TMS/ERP technologies, treasurers using Excel spreadsheets for forecasts are more than three times as likely to be dissatisfied with their forecasting output: 23% of those relying on Excel report discontent, compared to 8% leveraging TMS/ERP solutions.

“The findings in this year’s Cash Forecasting & Visibility Survey Report provide a clear view into what matters to corporate treasury right now, and the areas that are particularly ripe for modernization,” said Craig Jeffery, Managing Partner at Strategic Treasurer. “AI and ML is arguably the biggest sea change coming to treasury teams, and it will move quickly. Treasury teams are realizing the challenges of building AI/ML-infused capabilities internally, and are instead adopting AI/ML forecasting capabilities within their existing systems. The rapid anticipated adoption here will empower corporate treasurers with transformative new practices and approaches, from treasury management to FX to payments.”


“The treasury ecosystem is constantly evolving, and this survey illuminates not just how treasury operates today, but how treasurers want – and expect – it to tomorrow,” said Michele Marvin, VP, GTreasury. “From CFOs to treasury and accounting teams, the results of this report are revelatory when it comes to navigating the current treasury technology landscape, adopting best practices, and capitalizing on the most advantageous opportunities going forward.”

Those interested in further results and analysis from the 2021 Cash Forecasting & Visibility Survey Report can view a recorded webinar, hosted by GTreasury and Strategic Treasurer, analyzing the results of this report: https://resources.gtreasury.com/Cash-Forecasting-Report-On-Demand-Webinar-Request.html

The downloadable report is available at: https://resources.gtreasury.com/Cash-Forecasting-Visibility-Report-Request.html

About GTreasury

GTreasury is committed to connecting treasury and digital finance operations by providing a world-class SaaS treasury and risk management system and integrated ecosystem where cash, debt, investments and exposures are seamlessly managed within the office of the CFO. GTreasury delivers intelligent insights, while connecting financial value chains and extending workflows to third-party systems, exchanges, portals and services. Headquartered in Chicago, with locations serving EMEA (London) and APAC (Sydney and Manila), GTreasury’s global community includes more than 800 customers and 30+ industries reaching 160+ countries worldwide.

About Strategic Treasurer

Strategic Treasurer provides consulting services for treasury management, security, technology and compliance. Corporate clients, banks and fintech providers throughout the world rely on their advisory services and industry-leading research. Strategic Treasurer is headquartered in Atlanta, with consultants based out of Atlanta, Cleveland, Detroit and Washington D.C. To learn more, visit strategictreasurer.com.


 

 

How Can Treasurers Gain from an Intercompany Netting Strategy?

18-10-2021 | treasuryXL | Gtreasury |

As a treasury tactic proven to deliver significant workflow efficiency and clear cost savings, intercompany netting is implemented far less common than its benefits merit. With a netting process, payables and receivables between multiple entities are no longer handled one at a time, but all at once. Furthermore, with intercompany netting, all the transactions between the subsidiaries are replaced with singular transfers between a Netting Center and each subsidiary, in the home currency of the subsidiary. For what kind of businesses is intercompany netting beneficial, and what are the key pain points that are leading organizations to consider intercompany netting strategies?

Read the full Article


About GTreasury

For more than 30 years, GTreasury has delivered the leading digital Treasury and Risk Management System (TRMS) to corporate treasurers across industries. With its continually innovating Software-as-a-Service platform, GTreasury provides customers with a single source of truth for all their cash, payments, and risk activities. The TRMS solution offers any combination of Cash Management, Payments, Financial Instruments, Risk Management, Accounting, Banking, and Hedge Accounting – seamlessly integrated, on-demand worldwide and fully secured. Headquartered in Chicago with offices serving EMEA (London) and APAC (Sydney and Manila), GTreasury’s global community includes more than 800 customers and 30+ industries reaching 160+ countries worldwide.

 

 

$20 Billion in Bank Service Fees: Are You Overpaying?

31-08-2021 | treasuryXL | Gtreasury |

By Heena Ladhani, Ecosystem Manager, GTreasury

Twenty billion dollars. That’s how many corporate treasurers in the U.S. are now forking over to banks in service transaction fees every year. It’s a big number and it’s growing every year. But there’s also vast potential for reducing that amount by optimizing the outlay for-fee services and becoming better-informed for price negotiations.

A recent survey from Treasury Strategies determined that 70 percent of corporate treasurers are reviewing their bank service fees on a monthly basis. However, the same survey determined that a fraction – just 21 percent of treasurers – will actually benchmark those service fees as part of their bank analysis and management. Among those treasurers who do use benchmarks, many only do so on a line-item basis, rather than at the product category level. A majority also don’t have processes to recognize the impact of volume on benchmark prices. In short, there is room – a lot of room – for opportunities to trim costs.

Accurate bank fee analysis backed by correctly applied benchmarking enables treasurers to preserve strong relationships with bank creditors as well. Too often, simplistic benchmark techniques give treasurers only a surface-level analysis of whether fees are in line with market averages. As a result, treasurers may falsely challenge their banks over small sums, while missing out on more appropriate and fruitful interventions – a ‘can’t-see-the-forest-for-the-trees’ scenario. Incomplete analysis comes with its own costs, absorbing misapplied resources and eroding creditors’ goodwill over insignificant or erroneous concerns.

Let’s look at two examples of how benchmarking, done right, can ensure treasurers’ accurate analysis and lead to optimized bank transaction costs:

Example 1: Benchmark beyond what you know

Wire transfer fees are an area in which effective benchmarking is especially ripe for opportunity. For example, suppose a treasurer’s initial internal benchmarking finds that the four banks the company uses offer rates spanning from $14 to $20. This self-benchmarking reveals the potential to move all wire transfer fees to the $14 rate. However, expanding benchmark horizons to the market at large makes clear that all the banks are charging fees well above the median.

There is no shortage of potential reasons for this, which should be investigated. The company could potentially reduce fees by using a bank portal, streamlining Fedwire, SWIFT, or CHIPS costs, opting for digitized communications, and beyond. Importantly, though, a small cost on each wire can quickly add up to significant savings. By benchmarking these fees at a more expansive scope, those savings can be found, pursued, and realized.

Example 2: True treasury management services costs are multi-dimensional

Take a hypothetical corporate treasurer examining lockbox item processing fees at two different banks. Bank X charges $0.30 per item; Bank Y charges $0.50. The treasurer’s organization directs 500 items to Bank X each month, and 5000 to Bank Y. On the surface, the treasurer’s analysis is simple: Bank Y is overly expensive and should be challenged.

A deeper and more holistic analysis, however, clarifies a more accurate picture. Factoring in bundled remittance processing services – such as monthly lockbox maintenance, daily deposit ticket charges, image and hardcopy fees, and courier fees – rewrites the story. Now it’s clear that Bank X provides a per item rate of $4.00, but Bank Y is just $3.00. The more simplistic cost benchmark analysis missed this crucial information.

That said, the analysis must also consider that volume is crucial to accuracy. Bank fees often vary by volume. Checking Bank X’s $4.00 per item rate against the market, the median benchmark price for a volume of 500 items a month is actually $5.00. The bank’s price is quite favorable at that volume. Now looking at Bank Y, the median benchmark price at a volume of 5000 is just $2.00 per item. Suddenly Bank Y is exposed as the truly expensive one.
There is a range of subsequent steps available to leverage this complete analysis into savings. The pricing may simply be too high, or active services may use overly expensive configurations. The treasurer should check for any unneeded services. Common redundancies can include receiving both electronic and hardcopies of checks, using packages featuring both electronic transmission and express mail, performing multiple daily deposits instead of a single batch, or using Fedwire rather than ACH. Accurate benchmarking makes each of these wasteful potential expenses easier to identify. Once recognized, streamlining such service costs can be simple.

When it comes to bank pricing, treasurers also have a variety of options for optimization. For example, treasury could consolidate the lockbox items to Bank Y’s lower cost. It could then restructure processing at that bank to the market’s median price. Alternatively, it could request a bid from Bank Yon on the total volume and explore that offer.

Apply robust benchmark analysis across the board

The same process for optimizing bank offers and options based on complete and accurate benchmark analysis applies to all bank services used by corporate treasury teams. All transaction processing and information services should be put to careful scrutiny to see what savings may emerge. In this way, implementing the right treasury management strategy and processes to make robust benchmarking an integrated component of regular bank fee analysis is an investment that pays equally robust dividends.

Author: Heena Ladhani is the Ecosystem Manager at GTreasury, a treasury and risk management system.  She is a FinTech professional with more than seven years of experience working with global clients to design solutions and improve processes utilizing treasury systems. She resides near Chicago.

 

5 Post-Pandemic Trends Corporate Treasurers Should Pay Attention To

26-07-2021 | treasuryXL | Gtreasury |

Corporate treasurers have manned a vital lookout position for their enterprises throughout the pandemic, navigating oft-tumultuous and unpredictable economic shifts. As businesses now inch closer to more normal operations, expect treasury to continue to fulfill a role of heightened intra-organizational visibility while adapting to new realities for what’s required from their job.

Here are the five trends treasurers can expect to play out in 2021, as a post-pandemic world appears closer across the horizon:

Treasury must continue to deliver accurate cash visibility and forecasting.

For many businesses hit hard, a waning pandemic will – hopefully – bring sales and production back to pre-pandemic levels. Organizations will continue to require frequent and accurate-as-possible cash forecasting to guide effective decision-making throughout this period of recovery. Treasury teams may continue to be called upon to deliver forecasts as often as weekly or daily; even as conditions stabilize, I think it’s unlikely that quarterly (or monthly) forecasts will be the norm. To facilitate this increased frequency, treasurers will increasingly pursue appropriate technologies fit for rapid-fire forecasting, particularly in the area of AI-based tools.

By and large, treasurers surveyed from the pandemic’s onset proved quite accurate in foreseeing a drawn-out pandemic recovery timetable – and the lingering impacts that have indeed since occurred. The data shows they’ve also proven effective in leading their companies to make strategic preparations accordingly. Those deft approaches ought to continue through the end of the pandemic while undergoing iterations to adapt to changing circumstances as necessary. In many ways, the outcome each company can expect is rooted in the capabilities and foundation for success that treasury teams have already implemented.

If treasurers aren’t yet equipped with the automation and treasury management systems necessary to match their cash reporting workloads, their organizations will be more vulnerable to shifting circumstances. Corporate treasurers in this position face compounding limitations: spending all available bandwidth on completing manual cash reporting processes leave no resources to implement new automation. To avoid or escape this cycle, treasurers should work with software and service providers to rapidly realize the automation they require.

Treasury must become more efficient.

Many treasury teams have become leaner over the course of the pandemic. At the same time, the cash forecasting and risk assessment that treasury provides has been crucial for enabling companies to maintain vital liquidity. That function will remain essential throughout the pandemic’s aftermath.

To accomplish more with less, treasury teams should pursue solutions that increase their efficiency via broader automation and smoother integrations. The pandemic has also driven the shift to distributed workplaces, which will persist going forward. Facilitating efficient distributed workforces will require treasury systems to be able to deliver continuous remote access to information, seamlessly and in real-time. Treasury teams that have digital automation projects in development ought to expedite those efforts now, and then release new features in stages where possible. The value of optimized processes and automation cannot be understated for corporate treasury in the post-pandemic environment.

As the pandemic subsides, merger and acquisition activity will rise.

Enterprises will have low-cost access to cash and equity as the pandemic wanes, which many will tap to pursue mergers and acquisitions. Treasurers will conduct the critical work of assessing the cash positions and risk profiles of potential merger partners and acquisition targets while ensuring the necessary liquidity to complete these transactions.

Treasurers must prioritize preparedness for benchmark rate reform.

LIBOR continues to be a moving target but is due to be replaced with new benchmark rates after 2021. Corporate treasurers are well-advised to prepare for this transition sooner than later, realigning all standing loans and contracts to the new rates. Those companies that aren’t yet on pace for a smooth transition will need to accelerate their work in this area.

Well before the deadline, treasurers should review all loans, credit, and investments tied to LIBOR, and arrange replacement rates and fallback provisions with lenders and servicers. Similarly, all new contracts will need to include appropriate fallback provisions. The new benchmark rates will also require treasurers to train and become experts in their new operating environment.

Singular platforms able to seamlessly integrate data and technologies across treasury ecosystems will be all the more valuable.

Treasury and risk management systems able to integrate cash, payments, risk, fraud, ERP, BI, and additional capabilities on a single platform are crucial to eliminating friction in payments and data workflows. Treasurers can discover vast benefits by using systems that unite the universe of fintech solutions they rely upon. Treasurers should vet and select solution ecosystems able to automate bank transfers, deliver simplified connectivity to banks and accounts across the globe, and transfer information along with payments. Those able to drive accurate decision-making, ease new feature implementation, improve treasurers’ user experiences, and provide strategic enhancements also deserve treasurers’ attention. The right technology strategy will open the door for treasurers to far more easily introduce valuable new capabilities and efficiencies.


Make no mistake about it: for corporate treasurers and the systems and processes they oversee, the aftermath of the pandemic necessitates maintaining vigilance and continuing to optimize practices.

 

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2021 Treasury Technology Survey Report from GTreasury Shows Key Trends Affecting Treasury Modernization Across Organizations

22-07-2021 | Gtreasury |

The first-of-its-kind, in-depth global report details how far along treasury and finance teams are in digital transformation, the technologies they are most excited about, and where resistance remains.

CHICAGO – July 22, 2021 – GTreasury, a treasury and risk management platform provider, and Strategic Treasurer, which delivers consulting services for treasury management, security, technology, and compliance, today announced the release of the 2021 Treasury Technology Survey Report.


The comprehensive 50-question survey across myriad facets of treasury technology deployment, opinion, and planning drew responses from hundreds of treasurers, treasury analysts, and other treasury and finance professionals from around the world and across industries.

Highlights from the 2021 Treasury Technology Survey Report include:

  • Significant growth anticipated. Payment factories, treasury aggregators, and TMS solutions are expected to realize 35-45 percent growth over the next two years.
  • APIs are becoming must-have capabilities. Seventy-three percent of corporate treasury groups indicated that APIs are critical to their current processes. Machine learning capabilities are also drawing outsized focus from treasurers further along in their modernization initiatives.
  • The gap between cash forecasting importance and reality is high. While cash forecasting is very important to 84% of treasurers, only 38% indicate they are performing at a high rate of accuracy.
  • Fraud prevention gains a heightened focus. Thwarting fraud is a top focus for 77% when considering the application of new technology in product development. Treasurers also report high demand for incorporating automation into fraud prevention processes.
  • Resistance to formats remains. Comparing legacy formats to newer and more enriched formats like XML, treasurers showed surprisingly high levels of resistance to adoption.

“Across continents and industries, treasurers are grappling with how best to transform their treasury technology stack to make processes more efficient and effective, and to drive visible value within their organizations,” said Pete Srejovic, Chief Technology Officer, GTreasury. “This survey provides a unique window into what excites and frustrates treasurers right now, and how the industry is approaching transformation in a quickly-moving ecosystem. This is a must-read report for treasury and finance professionals.”

The 2021 Treasury Technology Survey Report collected responses from March through April 2021, with 50+ questions and 250+ respondents. The full survey with all results and data is available for free download here.

Additionally, a webinar offering analysis of the report’s findings and featuring Srejovic and Craig Jeffery of Strategic Treasurer is available here.

About GTreasury

For more than 30 years, GTreasury has delivered the leading digital Treasury and Risk Management System (TRMS) to corporate treasurers across industries. With its continually innovating Software-as-a-Service platform, GTreasury provides customers with a single source of truth for all their cash, payments, and risk activities. The TRMS solution offers any combination of Cash Management, Payments, Financial Instruments, Risk Management, Accounting, Banking, and Hedge Accounting – seamlessly integrated, on-demand worldwide and fully secured. Headquartered in Chicago with offices serving EMEA (London) and APAC (Sydney and Manila), GTreasury’s global community includes more than 800 customers and 30+ industries reaching 160+ countries worldwide.

About Strategic Treasurer

Strategic Treasurer provides consulting services for treasury management, security, technology and compliance. Corporate clients, banks and fintech providers throughout the world rely on their advisory services and industry-leading research. Strategic Treasurer is headquartered in Atlanta, with consultants based out of Atlanta, Cleveland, Detroit and Washington D.C. To learn more, visit strategictreasurer.com.

 

 

For many CFOs, the time is now to embrace AI for Cash Forecasting

05-07-2021 | treasuryXL | Gtreasury |

The chief financial officer (CFO) has never been under as much pressure to deliver more accurate Cash Forecasts – the anticipated revenue, spending, and Liquidity data that acts as the rudder for all corporate decision-making. More precise foresight is essential not only to driving profitability under normal business conditions, but has now become even more crucial as companies try to navigate the continuing wake created by COVID-19.

Read the full Article


About GTreasury

For more than 30 years, GTreasury has delivered the leading digital Treasury and Risk Management System (TRMS) to corporate treasurers across industries. With its continually innovating Software-as-a-Service platform, GTreasury provides customers with a single source of truth for all their cash, payments, and risk activities. The TRMS solution offers any combination of Cash Management, Payments, Financial Instruments, Risk Management, Accounting, Banking, and Hedge Accounting – seamlessly integrated, on-demand worldwide and fully secured. Headquartered in Chicago with offices serving EMEA (London) and APAC (Sydney and Manila), GTreasury’s global community includes more than 800 customers and 30+ industries reaching 160+ countries worldwide.