25-04-2022 | treasuryXL | Treasury Delta | LinkedIn | RFPs are one of the less attractive parts of projects, although a necessary evil. Treasurers hate them because to set up this huge document and organise the necessary stakeholders it takes time and effort, while remaining highly manual. Let’s break down the myths around tenders and see […]
06-04-2022 | treasuryXL | Treasury Delta | LinkedIn | The optimal, objective, and transparent selection of treasury supplier solutions and/or banking services, observing procurement principles and guidelines, remains a complicated challenge for all treasurers. It is extremely time-consuming and cost-ineffective. This article highlights a niche fintech solution developed by Treasury Delta to successfully digitize the […]
27-09-2021 | treasuryXL | EcomStream | Ramon Helwegen |
Gamification aims to increase engagement and create more loyalty through positive user experiences. Loyalty drives returning customers. It’s a loyalty risk if your checkout process is hard to complete.
The least exciting part of the online customer journey must be the checkout process, for sure. However, in a relatively simple way you can gain a lot here, limit abandoned shopping carts and drive loyalty of your visitor.
Imagine: Your customer has already chosen the product and has already agreed on the price. Isn’t it important to secure that conversion as quickly and as simply as possible?
What is the problem of a boring checkout process with all kinds of input fields? It is just not fun to do. Combine the pleasant with the useful. A gamified process is simply more pleasant to complete. With subtle adjustments, you can already achieve a lot and fortunately you do not have to reinvent the wheel yourself.
With a gamified checkout you set a goal, offer control, reward good behavior and deliver speed. By adding a gamified twist to the checkout process, you improve the necessary focus from your customer and limit the chance that he or she will be distracted and never finish the transaction again.
The checkout process is task-oriented and a number of things can be improved during this process. In the visual below you can see a number of thoughts and considerations that take place during the checkout process in the hearts and minds of your customers. By gamifying certain tasks you quite easily make checking out more pleasant. This also makes the overall customer experience just better as you remove friction.
A shopper who leaves the site even after the checkout has started? Make sure to avoid such a costly event.
A gamified checkout works. Just try it.
About EcomStream
EcomStream is an independent consultancy and is specialized in optimization of online, omnichannel and marketplace payment solutions, and optimization of checkout flows.
The goal is to achieve much lower costs for you while creating a much better customer experience for your customers.
Thanks to its lean organisational model, EcomStream will help you to reduce the cost of ownership of your payment solution and to improve your ROI, fast.
About EcomStream
EcomStream is an independent consultancy and is specialized in optimization of online, omnichannel and marketplace payment solutions, and optimization of checkout flows.
The goal is to achieve much lower costs for you while creating a much better customer experience for your customers.
Thanks to its lean organisational model, EcomStream will help you to reduce the cost of ownership of your payment solution and to improve your ROI, fast.
12-07-2021 | treasuryXL | EcomStream |
Benchmarking your checkout and Payment solution is worth the effort. There are often areas for improvement that are relatively easy to execute or implement.
In 2018, EcomStream has assisted a number of online entrepreneurs, large and small, by benchmarking and optimizing their payment solution and checkout. This results in an improved customer experience and lower costs, sometimes up to 50% cheaper.
In optimization processes the checkout and payment solution is often seen as a functionality with little or no conversion uplift opportunity. Wrongly!
Studies from Baymard Institute show why in this final phase of your sales funnel, where visitors should just go through checkout and payment, they are leaving your site. It also shows what you can do about it.
The Payment solution is often overlooked in optimization projects. “Don’t fix if it ain’t broken” you sometimes hear. Many entrepreneurs are therefore already happy when their online payment solution functions properly and provides basic functionalities. There have been many developments in this area in recent years that make it easier to migrate from a payment service provider and there are considerable savings opportunities thanks to increased competition. You can compare the payments market with the market of energy suppliers but it is far less transparent. Competition is fierce and it is worthwhile to compare, renegotiate or migrate.
Let EcomStream do a benchmark assessment of your checkout and payment solution. You will be amazed by the findings. In the area of customer experience but also with regards to contractual terms and rates. A meaningful agenda item for your next optimization meeting or contact EcomStream now
22-06-2021 | treasuryXL | EcomStream | Ramon Helwegen
For some treasurers the world of Fintech / online payments / e-commerce doesn’t seem to have too much secrets. Some treasurers are however more distanced from it and would benefit a lot from support in this area.
As a consequence of COVID-19, many Corporates have fast-tracked their digital transformation projects to adapt to direct (online) distribution models. A key component in getting this right, is the revenue flow and the payment solution that comes with it.
The world of payments is dynamic and there is a lot of value to gain, both in performance levels as well as in cost levels. But how would you unlock access to these values in making sure you get value for money.
A few considerations that could cross your mind right now:
You can consider to perform a benchmark and cost optimization of your payment solution or initiate a tender/RFP project. Both have their own pros and cons, but both deliver value to your company and will lower the TCO of the payment solution. This is where EcomStream can come in. EcomStream can take full ownership of such a project.
Think about it, you do not need this payments knowledge every day, but you would like to be able to call on it at any time. And if the costs of your payment solution would be lower, that would free up budget for growth. EcomStream often works with its clients for the longer term (yet flexible) in making sure they get value for money from their online, or omnichannel, payment solution.
The payments market is dynamic and knowledge quickly becomes obsolete. You would like to obtain the latest knowledge around online payments. That is why it is often just better to obtain payments knowledge externally. Fresh, flexible and independent. Available for you just when you need it, always. You should never again have a feeling that you could have gotten a better deal for your online payment needs, or that you are missing out on value that your business owners may ask for.
With EcomStream, you are always up to date and have access to most recent market knowledge.
Benchmarking your online checkout and payment solution is worth the effort. There are often areas for improvement that are relatively easy to execute or implement. And execution is based on a no-cure no-pay basis.
Your online payment set-up should have your primary attention. Consider to bring in an independent specialist to help you out.
EcomStream is an independent consultancy and is specialized in optimization of online, omnichannel and marketplace payment solutions, and optimization of checkout flows.
The goal is to achieve much lower costs for you while creating a much better customer experience for your customers.
Thanks to its lean organisational model, EcomStream will help you to reduce the cost of ownership of your payment solution and to improve your ROI, fast.
14-6-2021 | treasuryXL | Gtreasury |
VENLO, The Netherlands, June 14, 2021 – treasuryXL, the community platform for everyone who is professionally active in the world of treasury, and GTreasury in the USA, the leading platform provider of integrated treasury and risk management for the twenty-first century treasurer, today announced the signature of a premium partnership.
The partnership brings a new knowledge stream to the treasuryXL community, offering treasurers a continuous flow of in-depth and timely content to help them do their jobs more efficiently and effectively. This partnership includes:
Treasury management is currently experiencing a revolution as digital transformation accelerates globally and across industries. With this partnership, treasuryXL and GTreasury are striving to make sure that treasurers are always up to date with the latest news, best practices, and events in their field.
About treasuryXL
treasuryXL started in 2016 as a community platform for everyone who is active in the world of treasury. Their extensive and highly qualified network consists 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:
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.
| 18-11-2020 | treasuryXL | Treasury Delta | Having a hard time dealing with complex and time-consuming RFP processes?
| 30-09-2020 | treasuryXL | OpusCapita |
OpusCapita and Analyste join forces
Two leading cash management providers have joined forces to form a new company. OpusCapita and Analyste have merged to create Nomentia – a Nordic powerhouse for global cash management.
”This is a natural step in our journey. Combining forces will improve our offering to our customers, increase our capacity, speed up innovation, and enable us to offer solutions to our customers on a global scale”, says Mikko Soirola, the CEO of Nomentia.
The new company is owned by Providence Strategic Growth (‘PSG’), and Verdane – a North European growth equity investor – will own a minority stake alongside the companies’ management teams. The merger was announced on June 29, 2020.
While the name is new, the companies are not. Founded in the mid 1980s, OpusCapita and Analyste have brought cutting edge Nordic Fintech to the world for over 35 years. Nomentia has a strong heritage of innovation and trust with an average customer lifecycle of over 11 years.
“Our passion is to modernize payment automation and cash management processes and provide clients with the best solutions and tools. We will be able to combine best practices from both companies and create an extensive pool of experience from over 2.300 customers, which will allow for much wider best practice sharing”, says Mikko Soirola.
“We are proud of our Nordic heritage and innovation that we have continuously delivered to the cash management community for over 35 years. Our new brand and visual identity are a salute to our roots, while demonstrating that we have the courage and ambition to be different. From this moment, the name Nomentia shall stand for the Nordic powerhouse for global cash management. We combine best-of-breed solutions from both OpusCapita and Analyste in our cash management portfolio and are looking forward to take this to the world”, states Jukka Sallinen, Deputy CEO Nomentia.
Nomentia is a Nordic powerhouse for global cash management. We believe in a world in which businesses can make the right decisions no matter how unpredictable the times are. Our SaaS-based platform offers solutions for cash forecasting and visibility, global payments with bank connectivity, reconciliation, in-house banking, guarantees, and FX dealing. We serve 2,300+ clients in over 100 countries processing more than 200 billion euros annually. Cash is king!
Mikko Soirola, CEO Nomentia, [email protected] +358 40 703 0553
Jukka Sallinen, Deputy CEO Nomentia [email protected] +358 40 590 6144
Wiebke Arendt, [email protected], +358 458731636
| 07-09-2020 | treasuryXL | OpusCapita |
In July OpusCapita and Analyste announced that they entered a transaction. Now the companies are about to launch the new company they form together.
OpusCapita enables organizations to buy and pay quickly and securely, with a real-time view of their business. OpusCapita customers use their source-to-pay and cash management solutions to connect, transact and grow. OpusCapita processes over 100 million electronic transactions annually on its Business Network.
Visit OpusCapita
Visit Partner Page
01-09-2020 | treasuryXL | Kyriba |
In the upcoming weeks, you will get inspired by the treasuryXL partner interviews. Each interview will be different, the only thing we can recommend: Learn, Discover and Enjoy!
The first interview to start with is Kyriba where we will take a deeper dive into their recent hosted webinar about Mitigating Fraud With a Corporate Payment Hub.
Paul Simpson is Strategic Payments Director at Kyriba who also was one of the presenters during the webinar in July.
We asked him 9 questions and 3 bonus questions. Let’s go!
My role is to promote the Kyriba Payment Hub, to make customers and prospects aware that we also have a powerful payment module. Often people think of Kyriba for TMS, but we have far more to offer, for example an anti-fraud solution in addition to payments. As part of my role at Kyriba, I look at the constantly changing payment landscape to inform treasurers and finance teams of these changes, whether that’s regulatory or technological. The Kyriba Payments Hub detangles what I call the “ERP payment spaghetti”, streamlines global bank connectivity and format transformation, whilst providing companies with real-time fraud detection. This can also accelerate ERP cloud migration projects.
Essentially a payment hub gives our clients a single, consolidated point of access across bank accounts, giving the ability to set up payments, define different payment types and provide notification of pending approvals. Kyriba provides this visibility by consolidating payment streams from different systems – ERPs, finance, treasury, legal, capital markets and decentralised teams, thus transforming dis-aggregated processes into a single source of record for all outgoing payments, all done with built-in fraud detection. We also, uniquely, support and maintain a “bank” of over 45,000 bank formats in-house via our bank formats team. This allows the payment hub to transform payment data into bank-specific file formats and connects directly with global banks via multiple protocols, including host-to-host, SWIFT and regional networks. Other providers build each bank format for each customer at a high cost and development time. The Kyriba payment hub is designed to work across different ERP solutions, whereas ERP systems will not work across other instances.
Absolutely. The Kyriba payment hub is designed to work with multiple ERP systems across different countries.
Fraudsters are trying to use the current crisis to their advantage. With people working from home, for example, they may attempt to ask finance to make payment to a new bank account – knowing the sign off process is not as robust as it was when teams were all together in the office.
We have research that shows the number of fraud scam attempts is up by nearly a 1,000 times since Coronavirus. The finance sign-off process for making payments are defragmented as people are working from home. This is where the Kyriba payment hub can bring standardised workflows, sign-off and approvals together to help eliminate fraud
Businesses fail to use AI and machine learning in addition to rule-based technology and processes to reduce fraud. This is a key component of the Kyriba Payment Hub
We are able to cut the time and cost of a customer migrating their ERP solutions to the cloud, as we can handle all the payment connectivity and formats etc “out the box”, thus saving the company many 100,000s of Euros, and 6 months or more in time, whilst also providing and standardising work flow sign off processes etc.
True, real-time visibility of all payments, from all systems, in one place with enhanced fraud protection and built in work flow.
Prevention is always better than cure! I always preach this. Always use combined workflow and AI / Machine learning technology together – the best of both worlds.
I have never experienced a fraud scam myself, the protection I had in place alerted me to a potential scam and I took action.
Every payment has to be checked via a rule and AI/Machine Learning process.
Fraudsters are getting more sophisticated, with only 6% of Corporates using machine learning/AI, they need to use the latest technology or be left behind and suffer fraud.
Kyriba is the global leader in cloud treasury and finance solutions, delivering mission-critical capabilities for cash and risk management, payments and working capital solutions.
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.
Visit Kyriba
In this live session, we will ask a big question: Would you let an AI agent invest your company’s cash?
Explore how AI can spot surplus cash, make investment recommendations and move towards execution—while the treasurer sets the limits and stays in control.