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.
Webinar RMFI: The Corona pandemic, an accelerator of Behavioural Risk
| 08-02-2020 |
The Vrije Universiteit will host a free webinar “The Corona pandemic: an accelerator of Behavioral Risk”.
The webinar is for everybody to join and free of charge.
Date, time and registration
Date: 17 February, 2021
Start: 19:00 – 20:15 CEST
Register Now and safe your virtual seat
How Do I Spot an Opportunity?
04-02-2021 | treasuryXL | XE |
There are a few signs and behavioral patterns that can indicate someone who would be a good fit to transfer money with XE.
Finding opportunities to turn prospects into Xe customers can be difficult. Though some people do have plans to transfer money overseas and may be in search of the right provider to facilitate their transfers, many other people as, and some may be perfectly satisfied using their bank or a wire transfer to send their money overseas. There are a few things that you can bring up in your discussions or keep your eyes (and ears) open for in order to make the search a little easier. Let’s talk about how you can find the right opportunities.
Spotting a potential opportunity
Though everyone is different, there are a few signs and behavioral patterns that can indicate someone who would be a good fit to transfer money with Xe.
There’s one question that reigns above all others: do they make international payments? This is the fundamental question, and the first one you should look to answer. Do they make international payments or deal with foreign currencies in any capacity? Then they are someone who could benefit from a fast, cost-effective, and easy-to-use money transfer solution.
Signs of a potential opportunity: individual edition
Individuals and businesses will have different signs, and different uses for money transfer. Some examples of people who fit this category include:
Clients living in other countries
Business people with clients who live overseas
Expats from another country
People who own property in another country
People who work with or get paid by a company in another country
People who have family overseas
People who have shares or dividends coming from another country
People receiving an inheritance, gift payments, or other sums of money from overseas
Individuals selling property with plans to relocate abroad
People purchasing goods from overseas
Workers on temporary overseas work secondments
People with overseas pensions
Account holders of multi-currency bank accounts.
Identifying someone who has a need for international money transfer is the first step. The next step is convincing them that they shouldn’t just use their local bank branch or the first provider they come across: they should use Xe.
There are two key areas to focus on:
Exchange rates
Bank costs associated with international payments.
Banks and other providers often set rates that favor themselves, not the client. In addition, these institutions often come with numerous additional fees (sometimes even hidden within the transaction). On the other hand, the Xe rate comes straight from the live currency markets, and is a true, honest reflection of the mid-market rate, with no hidden margins. In addition, there are no hidden fees with Xe: what your client sees is what they will get.
Signs of a potential business opportunity
Individuals aren’t the only ones who need money transfer; there are plenty of businesses who could benefit from working with Xe. Some examples of good opportunities include:
Clients with overseas offices
Businesses with a globally-located workforce
Managers of international payroll
Businesses that import or export
Offshore investors
Businesses with multi-currency bank accounts
Any business that sends and/or receives international payments.
Within the realm of international payments, there are a few common concerns that could be worth discussing further. Consider discussing:
Do they bill clients in your local currency or their local currency?
Do they talk about increased costs overseas, or decreased profits on exports?
Are they concerned with the bank costs associated with making international payments?
These questions can help you to better understand what they’re looking for from a money transfer and FX provider, whether it’s improving their profits, cutting out unnecessary costs, or ensuring that they aren’t exposed to FX risk when they make their international payments.
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
Getting Granular: A Tool to dig deeper and Improve Cash Forecasts
03-02-2021 | Cashforce | treasuryXL |
Covid-19 shook the foundations of Cash Flow forecasting and Working Capital Management for companies facing uncertainty about revenues, vendor payments, appropriate inventory levels and adequate cash reserves.
Digging into details: Cashforce opened a window to a more accurate cash picture by revealing what was going on across the business and how various moving ‘levers’ were rapidly changing, the treasurer said.
The velocity and veracity of data. Covid-19 has called more attention to the need for banking APIs and the harmonization of data feeds into a single analytical source. Real-time mandates are now the norm: Everyone wants payment information in real time, with consolidated cash positions at the press of a button. This greater level of urgency has driven the need for cash flow forensics and analytics.
This shift requires links to AI models so treasury practitioners can determine cash flow drivers not easily spotted by the human eye because they are in the weeds of massive amounts of data.
The data is there; why can’t we get to it? Simply put by one member: Most treasury management systems (TMSs) are not designed to house the magnitude of transaction-level data nor provide the analytic capabilities needed for transparent cash forecasting and best-in-breed working capital analytics.
Wedded bliss: Marrying short-term direct to long-term indirect cash forecasts! Treasury and FP&A forecast disconnects are common sources of reconciliation tension across companies.