BCR Publishing
We are the leading provider of news, market intelligence, events and training for the global receivables finance industry.
Working with industry leading organisations, experts, governments and universities, BCR Publications delivers expertise in factoring, receivables and supply chain finance to a global audience.
BCR has long been a beacon of innovation and excellence in the realm of receivables finance, playing an instrumental role in shaping the industry’s international landscape. Through its comprehensive conferences, insightful publications, and thought leadership, BCR has facilitated crucial dialogues and connections among industry professionals, driving forward the development of receivables finance globally.
Winding Down Russia: Treasury Challenges
23-05-2022 | treasuryXL | ComplexCountries | LinkedIn |
This was our third call on the situation in Russia. It focused on the practical challenges people are facing: nearly all participants are either running down their businesses or continuing on humanitarian grounds for products which are exempted from sanctions, particularly in the healthcare sector. However, as one participant put it, winding down is easier said than done.
This report was compiled by Monie Lindsey. based on a Treasury Peer Call chaired by Damian Glendinning.
We are happy to share a copy of the full report FREE, please contact us and mention ‘Russia Report’ in your message.
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Chair’s Overview
This was our third call on the situation in Russia. It focused on the practical challenges people are facing: nearly all participants are either running down their businesses or continuing on humanitarian grounds for products that are exempted from sanctions, particularly in the healthcare sector. However, as one participant put it, winding down is easier said than done.
Bottom line: despite the length of this summary, there are still further details in the report below. Please read it. The overwhelming feedback from the call was that everyone is trying to comply with the sanctions, and business is either being scaled back, or completely localised. People have stopped looking for ways round sanctions – but compliance is complicated.
The full report on Winding Down Russia: Treasury Challenges is available to subscribers. Please get in touch for details. Enquire
The Most Common Questions About Money Transfer
22-05-2020 | treasuryXL | XE |
If you’ve never made an online money transfer before, the process can get a little confusing. From where your money’s actually going to what you’ll need to make the transfer, it may seem like there’s no shortage of complicated processes or details to remember. And if you’ve tried doing some online research, you might have felt buried by all of the information.
Planning on making a transfer soon? Let us make it simple for you. Here are the answers to some of the most common questions our customers have about the transfer process, so that when it comes time for your transfer, you won’t be held up by any last-minute concerns.
What is money transfer?
The term money transfer is a broad term that refers to any payment that doesn’t involve cash. It typically comes in two forms:
Unlike traditional payment methods, money transfer doesn’t involve any physical exchange of money. Instead, it’s a secure exchange of information between two institutions (typically banks) that lets them know how much to take from your account and credit to the recipient’s account.
How do I make a transfer?
If you haven’t opened an account, that’s the first step. You can learn how to register in our blog here. Once you’ve signed up, here’s what you’ll need to do:
Do I need to provide any documents?
On some occasions, we may require additional documentation to verify your identity. In that case, all you’d need to do is log in to your account and provide a copy of one of the following:
If you’re transferring a large amount of money, you may also be asked to provide verification of your source of funds. In that case, you would upload that document (typically a bank account statement or a property sale document).
The whole process will be quick and simple: if we need extra documentation, we’ll let you know by email within 24 hours of you confirming the transfer.
What countries and currencies can Xe help me transfer to?
We can transfer money to over 130 countries in every major global currency.
Will the transfer cost me anything?
Depending on the method you use to pay for your transfer, you may be charged a small service fee. However, there are no hidden fees in our transactions: everything will be clearly laid out when you initiate your transfer.
Where does my rate come from?
Our rates come from live data from the global foreign exchange markets. Since they’re updated in real time, the rate you quoted in the morning might not be the same rate you get if you try again later that evening. There are no added margins or hidden fees inside our exchange rates: you can trust you’re getting the true, honest rate.
Check out this previous blog for more information on what impacts exchange rates and how we get ours.
How do I provide money for the transfer?
There are three ways you can pay for your transfer:
Depending on which method you pick, there could be a slight difference in the cost of the transfer and how long it takes to complete. Take a look at this blog post for more information on the three payment methods.
How long will the transfer take?
Our transfers typically complete within 1-4 business days, though many of them reach their recipient sooner than that.
And you won’t be left to wonder when it’ll arrive. When you make the transfer, we’ll tell you when the transfer will be sent as well as the expected arrival date before you confirm the transaction, and receive email confirmations throughout the process.
Can I cancel or edit my transfer after I’ve confirmed it?
Yes, but the earlier the better. If you need to change or cancel your transfer, contact us by phone as soon as possible.
If you do need to cancel, there is a chance that you may incur an additional cost. This is because we purchase the currency at the time of your confirmation. Depending on how much time has passed, if the currency’s value has fluctuated, there could be a difference in the rate when we sell it back to the market. This is where the potential for extra cost comes in.
How does Xe keep my money and information safe?
We have been in the currency business for over 25 years, and keeping our customers’ money and information safe is one of our top priorities. We are owned by the multibillion dollar, NASDAQ listed company Euronet Worldwide and adhere to regulatory standards in every country that we operate in, along with having enterprise-grade security measures in place.
We hope this information has answered any lingering questions and given you what you need to move forward with your planned transfers. Ready to send your transfer?
Get in touch with XE.com
About XE.com
XE can help safeguard your profit margins and improve cashflow through quantifying the FX risk you face and implementing unique strategies to mitigate it. XE Business Solutions provides a comprehensive range of currency services and products to help businesses access competitive rates with greater control.
Deciding when to make an international payment and at what rate can be critical. XE Business Solutions work with businesses to protect bottom-line from exchange rate fluctuations, while the currency experts and risk management specialists act as eyes and ears in the market to protect your profits from the world’s volatile currency markets.
Your company money is safe with XE, their NASDAQ listed parent company, Euronet Worldwide Inc., has a multibillion-dollar market capitalization, and an investment grade credit rating. With offices in the UK, Canada, Europe, APAC and North America they have a truly global coverage.
Are you curious to know more about XE?
Maurits Houthoff, senior business development manager at XE.com, is always in for a cup of coffee, mail or call to provide you detailed information.
Visit XE.com
Visit XE partner page
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The Role of APIs in Strategic Cash Forecasting
19-05-2022 | treasuryXL | Kyriba | LinkedIn |
By Andrew Deichler, Content Manager and Strategic Marketing
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Cash forecasting has undergone some substantial changes over the past couple of years. While forecasting has always been important, the COVID-19 pandemic highlighted just how critical it is, and why CFOs are prioritizing it more than ever.
In a recent webinar, Bob Stark, global head of marketing for Kyriba, and Lisa Husken, value engineer at Kyriba, discussed the current and future state of strategic cash forecasting. When exploring the data, one key point became clear—APIs are the key to more accurate cash forecasts.
How Forecasting Has Changed
Prior to the pandemic, many organizations with high idle cash balances might not have prioritized forecasting, Husken noted. However, once the pandemic hit, as well as other issues that followed like supply chain disruptions, even cash-flush companies quickly saw the important role forecasting played in their liquidity strength.
Risk management has also become more of a focus in the pandemic era as macroeconomic factors impacted FX, interest rates, the supply chain, and inflation. This prompted a shift from organizations generally producing one cash forecast to looking at multiple scenarios for cash and liquidity. “The ‘what-if’ scenarios became increasingly important,” Stark said. “It’s not like they didn’t happen before… but everyone became intrigued by [scenario planning] come 2020.”
Data-Driven Decision-Making
Given the focus on risk and the necessity to explore multiple potential scenarios, today’s treasury functions are focusing heavily on data-driven decision-making. Organizations have more data than ever before, and they need real-time access to it in order to make strategic decisions. And the only way to facilitate that is through APIs; “You can’t become more data-driven without actually having integrated platforms with APIs,” Stark said.
While many organizations view APIs as connectors that allow companies to access their banks and real-time payments, they have much greater potential. They have the ability to unify data, bringing information together into one, composable system, Stark explained. They can take a company’s system of record (the ERP), merge it with a treasury management system, and also bring in data sets from other internal and external sources, such as purchase requisitions, purchase orders, invoices, sales forecasts, etc.
With such expansive capabilities, it’s plain to see why APIs are the perfect tools for forecasting. A survey of over 800 finance executives by IDC and commissioned by Kyriba revealed that 88% of them are prioritizing APIs this year. That’s because CFOs understand that APIs can unify forecast data across their organizations so that they can make better decisions. They are demanding more precise cash forecasting and liquidity planning.
And they are right to demand it, because at the moment, they don’t have the insights they need. The survey also revealed that currently only 15% of finance leaders leverage real-time data to drive insights, and only 25% of finance teams reliably forecast cash and liquidity beyond one month.
Husken noted that those two data points go hand in hand. Reflecting on her previous role as a treasury practitioner, she noted that once forecasts go beyond 4 weeks, their accuracy tends to be 50% at best. “If you don’t have access to that real-time data, then you’re not utilizing the most up-to-date information,” she said. “Then how could you be as accurate as you could be going out further than four weeks.”
Better Forecasting Rewards
Improving the forecast would provide treasury and finance teams with more confidence to capture higher yield, which is desirable in a rising interest rate environment. With the insight strong forecasting provides, some Kyriba clients have been able to decrease the amount of cash they commit to working capital on a both short-term and a long-term basis and divert it to higher-yielding activities.
For example, through improved forecasting with Kyriba, Health Care Service Corporation (HCSC) was able to reduce working capital holdings by nearly $4 billion. The health insurance company was then able to make more strategic investment decisions earlier in the day, resulting in a 5% increase in investment returns. Short-term returns grew by $40 million, while long-term returns have seen an increase of $140 million.
Looking ahead, treasury teams may reap even higher rewards as interest rates increase. The culmination of data that APIs facilitate will create better forecasts, enabling organizations to put cash on the balance sheet to the best possible use. Borrowing will get more expensive as interest rates increase, but APIs can vastly enhance the decision-making process.
Listen to the full webinar here. And for even further insights, download the AFP Treasury in Practice Guide, Treasury Opportunities in Strategic Cash Forecasting.