Tag Archive for: cash management

Big tech vs Fintech vs Banks – in international payments

| 09-07-2019 | by Patrick Kunz |

This title makes it sounds like it’s a fight. To be honest: it is! The market for international payments is huge and its lucrative. In a McKinsey report the 2018 market size for payment revenues was close to 2 Billion. Not strange everybody wants a slice of that.

Fintech & Banks

Traditionally the market for international payments was dominated by banks. Recent years and technological advancements has shown that banks are slow to adapt to new technology and market requirements. In some cases it still takes days to transfer money from Europe to Asia, while an email, FB message or picture can be send in seconds. Fintech has tried to fill the gap with innovative tech solutions that solve these problems. Often these companies are lean and mean and adapt to market changes much quicker than the big stable banks. They provide cloud solutions, link to every bank possible and make you more bank independent. Lately we have seen consolidation in the fintech market where players are merging, growing or being taken over by banks. Some banks have started their own fintech. But often fintech only solved a part of the problem and is build on the existing (bank) infrastructure. Banks are also working on innovation: instant payments, swift GPI and PSD2 api’s are helping the customer paying faster and easier. These initiatives are great but have taken years to be implemented.

Bigtech

Then there is a third group of players: big tech. These are the google, facebook and alixpress of our world. These are traditionally IT companies who have a big client base but these companies where not involved in payments (yet). Their edge is size, market access and fast adoption. What happens if they enter the market for payments? Are they likely to win? Look at Alipay, massively successful in China but growing immensely outside Asia to. Why ? because it is easy to use, innovative, low cost and probably most importantly connected with an existing service of the bigtech (alixpress – shopping). The company provides the full customer journey: shopping for product and paying the goods in the most easy way without moving away from the website. Not only via desktop but also via mobile. On the go they make it possible to pay by scanning a QR code, in a grocery store or in a cab. Who needs cash OR a debit card, you only need your mobile phone and an app! Why was this successful? Because the existing customer base was already there they just vertically integrated into the customer journey; easier for the customer and therefore extra revenue for Ali. But also more power for Ali.

Stablecoin Libra

Looking at Facebook and their Stablecoin Libra. Digital currency, unregulated, not based on the traditional banking/payment infrastructure. There are big and significant differences with Bitcoin but the idea is the same: sending and receiving money worldwide in an instant as digital currency. There should be no speculation on the Libra-Rate as the rate of exchange is based on a basket of currencies (EUR, USD, JPY etc). Similar to the old tech Special Drawing Rights from the IMF. So what makes libra different to bitcoin and the other coins? I am not going into the technical differences as that is beyond my scope and would bore you. The main difference is the easy of adoption. New to bitcoin and want to use it: you have to open a wallet, trading account and learn have to transfer the BTC to somebody and the receivers also needs a wallet; a barrier for most. Using Libra will be much easier as it is just an extension of the services of Facebook. Libra potentially has 2,4 billion users (the number of facebook accounts). This is a big competitive advantage. Compared with smart marketing (facebook knows that) and combining it with existing products there is a big potential. Sending money to your facebook friends in Australia or Japan? No problem: in-an-instant via Libra. Besides facebook it is also supported by other big players like Visa, Spotify, Paypall, Mastercard, Vodafone. Is there a future without Libra ? And how many facebook users are there without an bank account. There are 2,4 billion facebook users and 1,7 billion people without a bank account in this world. The reach is already huge so there is low barrier for adoption.

The Battle

Does this mean bigtech will be ‘winning’? In my opinion hard to say. That battle is being fought the coming years. Don’t forgot the power and influence of regulator and governments. Digital payments are unregulated and unknown and could influence the power of governments and the whole banking infrastructure of money regulation, central bank money creation and some even fear de-stabilization of the monetary system as a whole. Regulators could stop/limit the quick steps forward by bigtech.

The coming years will be exiting to see the technological advancements in the battle for payment revenue. The winner will be the consumer; easy of paying will increase further and more importantly the speed will increase. Paying how we want and within a blink of an eye, and this worldwide, will be the new standard within several years.

 

Patrick Kunz

Treasury, Finance & Risk Consultant/ Owner Pecunia Treasury & Finance BV

 

ACT CASH MANAGEMENT CONFERENCE

| 31-1-2019 |  treasuryXL |

The 15th edition of the ACT Cash Management Conference takes place on 12 February 2019 in London.

The ACT’s flagship cash management event of the year provides a unique opportunity to share best practice, hear practical case studies from leading corporates and network with fellow cash management and treasury professionals.

Programme

The payments landscape: keep up to date with the latest changes in payments innovation and regulation:

  • the latest regulatory changes and payment fraud (panels)
  • cross-border payments, the New Payments Systems Organisation (breakout sessions)
  • setting up a payments factory (best-in-class case study)

Cash management evergreens: lack of control and visibility remain the top cash management challenges for treasurers. Discuss key questions such as:

  • what really makes good cash management? (panel)
  • cash pooling structures and trapped cash (breakout sessions)
  • how to get cash forecasting right from the beginning (best-in-class case study)

The bigger picture:look beyond day-to-day cash management and listen to frank discussions on:

  • the profitability of cash management products from a bank’s perspective (panel)
  • designing an optimised liquidity portfolio (breakout session)
  • the future of cash management innovation (panel)

For more information or if you want to register for the event visit the events website.

 

[button url=”https://www.treasuryxl.com/contact/” text=”Contact us” size=”small” type=”primary” icon=”” external=”1″]

[separator type=”” size=”” icon=””]

Reminder: Masterclass Cash Management

| 27-11-2018 | treasuryXL

Op 6 december 2018 organiseert Alex van Groningen een masterclass Cash Management. Hoe spoort u verborgen cash op en hoe speelt u het vrij? Richt een effectief cash management systeem in en optimaliseer het bedrijfsresultaat, het werkkapitaal en de liquiditeitspositie.

 

Hoe spoort u verborgen cash op en hoe speelt u het vrij?

Cash management expert Eva Borstlap onthult aan de hand van diverse actuele casussen (o.a. Blokker) maatregelen die met beperkte actie een groot positief effect op zowel de effectiviteit, het rendement als de liquiditeit van de organisatie hebben.

Onderwerpen

  • De essentie van cash management: wat is het wel en wat is het niet
  • De relevantie van een gezonde focus op cash
  • Financiële besturing; samenhang tussen de operationele-, investerings- en financieringsactiviteiten en hoe deze te meten (oa EVA/NPV, futures en SWAPS)
  • De essentie van werkkapitaal en waarom pure sturing op werkkapitaal niet zinvol is
  • Theorie vs praktijk; waarom is de praktijk weerbarstig (Blokker casus)?
  • De directe relatie tussen cash management met de operationele processen en de verborgen cash die in elke organisatie aanwezig is

Voor wie?

Dit programma is specifiek ontwikkeld voor (assistent) financial- en business controllers, financieel managers en andere financiële professionals die nieuwsgierig zijn hoe zij zelf een concrete bijdrage kunnen leveren aan het genereren van extra cash.

Programma

09:30 – 10:00 uur | Introductie

  • Introductie en verwachtingen deelnemers
  • Waarom de focus op cash essentieel is
  • Een wandeling door een Jaarrekening; relatie tussen resultaat en cash

10:00 – 11:00 uur | De essentie van Treasury

  • Groepsopdracht rondom het thema ‘resultaat en cash’
  • Theorie: De essentie van Treasury en de relatie met de operationele de bedrijfsprocessen
  • Welke rol kan/moet een financial hierin spelen?

11:00 – 11:15 uur | Koffie en thee pauze

11:15 – 12:30 uur | Financiële besturing: theorie en praktijk

  • Theorie: wat is de financiële besturing van een organisatie (operationele-, investerings- en financieringsactiviteiten)
  • Welke parameters en risico management zijn relevant (oa de werking van Futures, NPV, EVA, Swaps)
  • Theorie vs praktijk; waarom de theorie niet altijd werkt (case ABNAMRO)

12:30 – 13:00 uur | Lunch

13:00 – 15:00 uur | Verborgen cash in het werkkapitaal

  • De essentie van werkkapitaal; waarom het vooral geen ‘finance feestje’ is
  • Methoden om werkkapitaal eenvoudig en snel te kunnen beoordelen
  • Inzoomen op de verborgen cash in de operationele bedrijfsprocessen
  • Waar zit de cash ‘verstopt’?

15:00 – 15:15 uur | Koffie en thee pauze

15:15 – 16:00 uur | Opsporen van verborgen geld & Blokker

  • “Het opsporen en vrijspelen van verborgen cash” in de eigen praktijk
  • Introductie Blokker; Wat is er aan de hand; een wandeling door het Jaarverslag

16:00 – 16:45 uur | ’Hunt for cash programma’ Blokker (Case)

  • Interactief spel om te ervaren voor welke dillema’s een bedrijf als Blokker staat en waarbij de theorie en alle genoemde ervaringen in de praktijk worden gebracht

16:45 – 17:00 uur | Samenvatting, evaluatie en afsluiting

Bel voor meer informatie of een offerte met Ivo ten Hoorn op 020 639 0008.

Is cash still king?

| 11-06-2018 | by Patrick Kunz |

All treasurers and most financials know the statement “cash is king”. I do not have to explain the meaning; it is best for a company to have cash above any other forms of (accounting) income. Not talking about the problems of not having any cash. Having cash makes a company stronger and opens possibilities to use this cash (dividends, M&A) and cash is also needed to pay the bills.

However, since several years we are living in a world where interest rates are negative. So it costs money to own cash. It is suddenly costly to be a bigger king. This has some implications for companies and treasuries.

Active cash management

Because it is expensive to have and hold cash it is important for treasurers to know where all the cash is and what the position is. Only holding the cash and doing nothing means that the cash balance will decrease because of negative interest. It therefore makes sense to look into options to reduce the cash level. This does not necessarily mean spending the money!

Several options include:

  • Compensating negative cash balances with positive cash balances, also between different currencies (fx swaps)
  • Repaying loans
  • Paying dividends
  • Paying suppliers earlier to receive a discount

Of course above options are examples and depend on the specific company. Most important aspect in doing above actions are the cash flow forecast. The actions you are taking now have an impact on your future cash position so if some actions are good for now they should also be beneficial in the future situation. Simulations and forecasting software can help with this. For example a simulation on your credit lines, changing interest rates and changing payment terms can be very interesting.

Floors and term

If you are with your bank for a long time there is probably nothing agreed about negative interest rates on your cash as this was not foreseen by banks 10 years ago. This gives you an opportunity to negotiate with the bank on your term for having cash. Some possibilities I have seen with my clients:

  • Floors in the interest rates. This does not necessarily have to be 0% floor
  • Thresholds: for example the first 10 mln no negative interest charge
  • Combinations of above
  • Spread between credit and debit amounts; a lower spread is often better.

Invest

Another option to reduce the interest charge on your cash is to invest the money. This is a sensible topic as most treasurers are risk averse. The more return is expected the higher the risk associated to the investment. Cash at a bank is considered fairly safe (given the cash is divided over several banks with a good credit rating and depending on the amounts). Furthermore the liquidity of the investment is important. Cash is readily available. If you invest the money it first has to exchanged or transferred to cash which can take time or can have an impact on the return. Most treasurers are prudent on investments and/or internal rules do not allow these.

Cash is still king

Overall looking at above cash is still king. For every company it is better to have cash then to be short on cash. However, having too much cash can hurt a company too as the return on cash balances is very low and in most cases negative. In these times the value of a treasurer looking at the cash balances and optimizing it uses (and return) is big. So does your company not have a dedicated person looking at the (excess) cash and the optimization of the cash now and in the future (cash forecasting) then it might be the time to a assign somebody on this task. In most cases the return on this person if positive (even though the interest rate is negative).

An external treasurer or flex treasurer can be of help too.

 

Patrick Kunz

Treasury, Finance & Risk Consultant/ Owner Pecunia Treasury & Finance BV

 

Cash Pooling – where is the money

| 01-02-2018 | François de Witte |

The main objectives of the cash & liquidity management are to:

  • Have the cash funds available to meet all known and unknown commitments
    • In the right currency
    • In the right place
    • At the right time
  • Optimize the return of the cash and/or minimize the cost of the short term financing
  • Minimize external financing by using internal funding

One of the most important techniques to achieve a better utilization of the available cash is the “cash pooling” or, in other words, the concentration of the cash to make it centrally available. The commonly used techniques in the market are the following:

  • Manual cash concentration: Intercompany payments
  • Automated Cash Concentration: requires physical movement of funds
  • Notional Pooling: without movement of funds

In the present article, we will outline the current types of cash management tools, their advantages and the attention points.

Manual cash concentration: Intercompany payments

For companies, who have only a limited number of accounts to overview, it is recommended to set up a manual cash pooling. In this case, the treasurer overviews daily or weekly the balances of the different accounts, and when there are important debit or credit positions, he will initiate manual payments to balance the positions, and or to concentrate them on the central treasury account. If during the day, important movements take place, the treasurer can make some additional intra-company payments to balance the debit and credit positions. In order to avoid float, it is recommended to use the urgent payments clearing.

The main advantages of the manual cash balancing are the following:

  • The easy set up
  • The possibility take into account the cash forecasting
  • You do not always make daily movements, which facilitates the intercompany loan administration.

However there are some drawbacks / attention points:

  • There is a daily / weekly need to make manual interventions. However some treasury software packages provide a solution to automate this process (bank independent cash pooling)
  • The banks take additional charges for use of the urgent payments clearing, except if the payments are processed within the same bank
  • The overdraft credit lines of the participants are qualified as full lending limits, and hence for the banks there is a higher capital weighting
  • When different legal entities are involved, you create a lending /borrowing relationship between the participants. Hence there are legal and tax issues:
    • You need to foresee a intra-group lending agreement
    • There are possibly withholding tax, transfer pricing and thin capitalization issues
    • Within your group, you need to manager the intercompany loan administration.

Automated cash concentration

The automated cash concentration, also called cash balancing, is a pooling technique requiring a physical transfer of funds to or from the participating accounts to concentrator account. The pooling movements are operated automatically by the bank

The most commonly used cash concentration is the zero balance cash balancing, as illustrated in the drawing down below. In this solution, the balances of the participants are daily or weekly swept to a concentrating account.

Figure 1: Outline of the zero balance cash balancing

Automated cash concentrationThere are also other forms of cash concentration:

  • Target cash balancing, to keep a specific amount in each account
  • Threshold cash balancing, to move funds only when an account moves in excess of a figure
  • Trigger cash balancing, whereby the movements are only initiated if the balance of an account (debit or credit) exceeds a certain amount
  • End-of-day or intraday cash balancing
  • Domestic or cross-border cash balancing.

There are several advantages to this system, such as:

  • There are no manual interventions, as the system is automated
  • Several features are possible (multi-layer, domestic and cross-border, target balancing, …)
  • There exist a possibility to integrate accounts from third banks
  • The system discipline to participants
  • With several banks, the intra-day lines, and the intra-day debit positions do not require a capital weighting.

However there are also drawbacks / attention points:

  • For value-based cash balancing, there can occur reconciliation issues with ERP systems or treasury management systems, as they usually work on accounting balances
  • The cash balancing works only within the same currency. When you manage different currencies, different physical cash balancing structures need to be set up for each currency
  • When different legal entities are involved, you create a lending /borrowing relationship between the participants – see also point 2 hereabove
  • The automated cash balancing can only work within the same currency (mono-currency).

Notional cash pooling

The Notional cash Pooling is a cash pooling where there is no movement of funds. In such a pooling the credit balances of the participants are offset against debit balances of the participants. Hence the net balance of the group is used to calculate the debit or credit interest paid or received.

The system has a flat structure, which means that all the participating Accounts are basically equal to each other. However usually corporates designate one account as the treasury Account, which is then used to manage the system.

Figure 2:  Outline of the notional cash pooling

Notional cash pooling

 

 

 

 

 

 

 

 

The main advantages of the notional pooling are the following:

  • The notional pooling does not require to move funds, and hence:
    • No intercompany loan administration
    • Less legal and tax issues
  • In some jurisdictions (e.g. the UK and NL) the notional pooling can, under certain conditions improve the balance sheet by offsetting surplus balances against group debt
  • The notional pooling can include different currencies.

However there are also attention points:

  • The full legal offset of debit and credit positions of different legal entities is an issue in several countries
  • In some countries notional pooling is not allowed
  • Basel III does not always allow that liquidity ratios are calculated by means of netting the outstanding balances of accounts in the notional pool. This means that banks must calculate their ratios based on the gross balances of the individual accounts. Hence they will also look to translate this cost in the pricing of the notional cash pooling.

Legal and tax aspects of cash pooling

Setting up a pooling requires some preparation, and some legal and tax issues need to be addressed, such as:

  • Is automated cash pooling (cash balancing or notional) authorized ?
  • For cash balancing with different entities
    • Transfer pricing issues – Arm’s length rule
    • Is debit interest an allowable deduction?
    • Withholding tax issues
    • Is thin capitalization an issue?

When setting up such structures, in particular when different countries are involved, you need to foresee a due diligence with legal/tax advisors and banks

For cash balancing with different legal entities, a requirement is also to be able to manage intercompany loan administration. There are banks and providers who come up with solutions in this area.

 

François de Witte

Founder & Senior Consultant at FDW Consult and Senior Expert – Product, Business development and sales manager at Isabel Group

 

Who to choose: A generalist or a specialist?

| 11-12-2017 | Olivier Werlingshoff |

 

During the last few months this question has been on top of my mind. Is it better to specialize yourself and start a specific study?
First, we need to look at the definitions of both; a specialist is a person who is highly skilled in a specific and restricted field. A generalist is a person who is competent in several different fields or activities.

On LinkedIn you can find the 6 differences between a generalist and a specialist by “Han van Kasteren”.

 

I will mention a few:

  • Generalist can be more confronting; because they are sometimes not very familiar with procedures and will ask “strange and stupid” questions to understand the business,
  • A generalist will often use the Why question to understand the business,
  • Because a generalist is not stuck in a specific field, he can be more creative and can apply examples previously used in other fields.

But I also thought of two other differences which I would like to share with you:

  • A generalist can make an easier connection between the specific field and other departments because they are more familiar with the different other departments in a company
  • Because a generalist looks also to other departments they became more competent in selling internally their problem or their challenge to find a solution

Now I have mentioned a few bullet points I found on the internet, when can a generalist interim Treasurer be a good choice?

I would say especially in the field of cash management and working capital they could be a good choice. Both specialties have effect on different departments of the business to mention a few; controlling, sales department, procurement, tax and legal.

During my career I talked with a lot of CFO’s and financial managers of large companies and tried to understand their challenges and to help them achieve their goals. As treasurer I had my own challenges and tried to make links with other departments to achieve my goals.

I am a generalist with a passion for cash management optimization!

Olivier Werlingshoff - editor treasuryXL

 

Olivier Werlingshoff

Owner of Werfiad

 

Treasurer – So what is it that you do exactly?

| 11-10-2017 | Lionel Pavey |

A few weeks ago I took my daughter Charly to the Scouts on a Saturday morning – she goes every week and really enjoys it. I get a couple of hours to myself and normally do the weekend shopping in that time. 2 ½ hours later I went back to pick her up and whilst waiting I got talking to a couple of the parents from the other Scouts, about work, whilst enjoying cups of coffee and hotdogs. They asked me what I did and I explained my vocation as a Treasurer and Cash Manager.

“Yes” one said, “so you are the same as a bookkeeper really. What makes you different? What do you bring that others do not? What makes you special?”

Advantages and benefits of Cash Management

  • Cash is King – profit is an opinion. I can not make you more profit, but I can improve your cash flows and your understanding of them.
  • I can speed up the operations your company uses to administer its cash.
  • I can help you stay solvent.
  • I can address your working capital issues.
  • I can spot fraud.
  • I can estimate your cash position for any time in the future based on your data input.
  • I can obtain better terms and conditions with debtors and creditors.
  • I can warn you when trouble will be ahead if nothing is done.
  • I can analyse the best loan deals for your financing operations.
  • I can make detailed cash flow forecasts that you can show to your banks when negotiating with them for loans or banking facilities.
  • I can reduce costs.
  • I can pay your bills more quickly.
  • I can improve your liquidity.
  • I can reduce your administrative work flows.
  • I can enable you to recycle your cash more quickly.
  • I can reduce your inventory holdings.
  • I can let you know when your future financial commitments have to take place.
  • I can help you maintain good relationships with your creditors.
  • I can optimize your cash at all times.
  • I can reduce your borrowing costs.

You need to generate enough cash from your activities to pay your suppliers, repay shareholders and/or investors and have money left over to invest and grow your business. Be honest, to do all that you need professional support and guidance allowing you to concentrate on growing your business.

They looked at me and said “So you are not really a bookkeeper then.”
I looked at them and smiled – mission accomplished!
“Now you know what a cash specialist can do for you and your company. So, give me a call when you think you need help with any of these issues.”
It is a good feeling when you positively change someone’s perception about what your job actually entails.

I told them what I can do, but did not say how. Are you interested in the how? Go to Rent a Treasurer.

 

Lionel Pavey

 

Lionel Pavey

Cash Management and Treasury Specialist

 

 

Flex Treasurer: Who needs a treasurer?

| 05-10-2017 | Olivier Werlingshoff |

 

Do all international companies need a Treasurer or a Cash Manager? Yes and No would be my answer. In this article I will give my opinion on the reasons (not) to hire a Treasurer or Cash Manager.

First we have to focus on the definition of a Treasurer. Wikipedia: “he or she is responsible for liquidity risk management, cash management, issuing debt, foreign exchange and interest rate risk hedging, securitization, oversight of pension investment management, and capital structure (including share issuance and repurchase).”

 

Activities are Cash Management, Risk Management. Corporate Finance and Treasury operations & control. In a lot of companies all these activities and processes are part of the job of a controller and a finance manager.

When the company has financial problems the cash management activities, especially the cash flow forecast and the (inter)national banking environment, will come into the spotlight. A reliable cash flow forecast is built up on the right information about the cash position and the planning for the period to come. The problem is how accurate are the predictions for the future in the ERP systems? The right information can be obtained by asking not colleagues of the finance department but the sales colleague and procurement. This can be a time-consuming exercise.

There are a few new fintech companies who focus on the optimization of cash management processes. It is possible to manage all your bank accounts with one single system, where different ERP and company systems can be connected to each other which make it easier to set up a cash flow forecast. The search for the right information can be facilitated.

If you focus on the corporate finance activities such as an IPO or a refinancing, specific and knowledge is needed. This does not happen often.

My suggestion is to hire a Flex Treasurer and let him make a scan of all the treasury processes in the company. The Flex Treasurer can also implement improvements on the cash management and risk management activities. When all improvements are done see if the activities can be integrated in the existing jobs or you could hire a cash manager.

If a company decides to do an IPO or a refinancing there are plenty of companies specialized in this field. Therefore it would be smarter to use an interim consultant till the job is done.

Olivier Werlingshoff - editor treasuryXL

 

Olivier Werlingshoff

Owner of Werfiad

Does your treasury have a digital mindset?

| 25-9-2017 | Patrick Kunz |

 

In an previous article I have talked about the IT changes that make life easier for a treasurer in the future (or now already). In this article I want to talk about the digital mindset of the person using the IT – the treasurer. Treasury is a numbers game. We treasurers use these numbers to optimise the cash or risk of the company. We make money with money. These numbers have to come from somewhere in the organisation and it is usually never treasury itself.

BIG data

Big data is a hot topic in treasury but for treasury it was around longer. The treasurer needs to get their input information for all over the company. Cash inflow from sales, cash outflow from procurement and investment teams, HR etc. All this data needs to be gathered. The digital minded treasurer thinks about optimal ways of gathering this data: automatically. The treasurer starts its day with the actual cash balances and then looks forward. He/She basically needs to predict the future. How great would it be if all this data would be available with the push on a button. An ideal world ? Maybe, but it is possible. Bank statements can be automated to be loaded collectively or in a Treasury Management System. The treasurer starts the day with up to date cash balances, and he has not started working yet as this was automated. He then updates the cash forecast. How? By pushing update in his cash forecasting system. Sounds too easy? True, it took weeks to find out where to find the needed input information and to automate getting this data grouped together and in a structured way. But a digital minded treasurer knows that the data is somewhere in the organisation; it only needs to found and linked to the treasurers information recourses so it is always available. The treasurer only has to check the validity and the quality of the data and see if it needs improvement. In this way the digital minded treasurer can automatically create a cash forecast and continually improve it. A cash forecast should be ready before the second morning coffee. In an ideal world it would be ready with a push on a button. Artificial intelligence makes it possible. The digital minded treasurer is steering it.

Process improvements

The digital treasurer looks at ways to improve its document flows and payments. Not only looking at costs but also looking at how many (manual) interventions are needed. FX deals can be setup to straight through processed (STP) while blockchain would make it possible to improve the speed of payments or document flows globally. Everything is connected, as payments go from a process to straight through and instant it has an immedicate effect on the cash availability and forecasting. While now the bank is the place to go for bank accounts and payments this might not be the case in 10 years. The digital treasury might be able to setup his own bank in the future. By using technology.

The future

The treasurer makes sure that he is on the steering wheel while technology makes it possible for him/her to check his surroundings so he does not crash. A bigger front window makes for a better view forward (forecasting), a higher max speed makes for quicker travel (updating changes in forecasting), adaptive cruise control saves effort on speeds control (automatic updating and AI, STP). The treasurer knows he needs to keep the engine running to keep moving. He also realises that he does not need to be a mechanic to do this; however he needs to be able to tell the mechanics quickly why the car is not moving as the treasurer wants it to be so the mechanic can fix this. Or maybe the digital treasurer might change the car for a plane in the future, or even a rocket?

It is clear that technology and treasury are interconnected. Already now and even more in the future. A treasurer therefore needs a digital mindset to survive and keep up with the information needs of his department and the company as a whole. And it’s not rocket science (yet).

Patrick Kunz 

Treasury, Finance & Risk Consultant/ Owner Pecunia Treasury & Finance BV

 





 

The IT savvy treasurer

Saving on FX deals? Often neglected but potentially a “pot of gold”

How much are you paying your bank?

 

De 100 meest veelbelovende FinTech bedrijven – wie wordt de winnaar?

12-9-2017 | FM.NL | treasuryXL |

Op 27 september is het zover. Buitenlandse investeerders en FinTech-specialisten van naam reizen dan af naar Brussel. Tijdens de European FinTech Awards & Conference 2017 zullen zij oordelen hoe de veelbelovende techbedrijven van Europa ervoor staan. De omgetoverde FinTech-awardzaal van ‘The Egg’ bombardeert  de Europese hoofdstad deze dag tot hét techcentrum van Europa. De top 100 aanstormende FinTech-bedrijven van Europa zijn bekend. Wie wordt gekozen tot winnaar?

Meer dan 34.000 FinTech enthousiastelingen hebben gestemd op hun favoriete Europese FinTech-bedrijf. Het is nu aan de FinTech vakjury: wie winnen de European FinTech Awards 2017? U hoort het op 27 september.
Honderden Europese fintechbedrijven staan op het punt door te breken en uit te groeien tot scale-up. Miljarden liggen klaar om geïnvesteerd te worden in bedrijven die de markten gaan veroveren. Wie wordt de volgende?

De 100 meest veelbelovende FinTech bedrijven

 FM.NL heeft de 100 bedrijven in een artikel gepresenteerd:
 

Bron: FM.NL

Top 3 FinTechs per categorie

 

 

 

 

 

 


Bron: FM.NL

Veelbelovende FinTech-bedrijven & verrassende visies op de European FinTech Awards in Brussel:
Deel expertise en visies. Laat u verrassen tijdens de vele kennissessies, keynotes en pitches. Krijg de beste antwoorden op uw vragen: Hoe schaalt u efficiënt een FinTech-bedrijf op? Wat kunnen we leren van succesvolle FinTechs? Hoe reageren banken en wat denken investeerders?

Laat u inspireren door de meest veelbelovende FinTech-bedrijven ten overstaan van aanwezige investeerders, stakeholders en andere belangstellenden op 27 september 2017.  Dit is de dag waarop u de beste FinTechs van Europa pas écht leert kennen.

Korting via treasuryXL

Bezoek de European FinTech Awards & Conference met korting
Ontmoet 27 september 2017 in ‘The Egg’ in Brussel 400 nationaal en internationaal befaamde FinTech-entrepreneurs, bankiers, investeerders en adviseurs. De European FinTech Awards & Conference 2017 biedt een unieke kans om uw netwerk te vergroten. Laat deze kans niet glippen om gearriveerde FinTech-sprekers op het podium te zien en 30 pitches te zien van Europa’s beste innovatieve ondernemingen van dit moment.

Speciaal als TreasuryXL community lid krijgt u 10% korting met de code: Friend2017, boek vandaag uw ticket(s)

De European FinTech Awards wordt georganiseerd door Alex van Groningen en B Hive. 

Annette Gillhart – Community Manager treasuryXL

[button url=”https://www.treasuryxl.com/about/” text=”Meer informatie over treasuryXL” size=”small” type=”primary” icon=”” external=”1″]

[separator type=”” size=”” icon=””]