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.
Trade Finance and ICC Incoterms
| 24-06-2020 | Ger van Rosmalen | treasuryXL
Still up to date every day: “yes do not worry sir, the container will arrive within a few weeks, i hope, it is now the rain season and roads are like rivers”. Many logistics managers are not waiting for these kinds of messages and the irritation grows when they wonders what ***** of Sales has had in mind to deliver this customer on a DAP basis.
This blog is in Dutch language.
De frustratie van iedere logistieke of customer service medewerker is als Sales iets verkoopt zonder zich echt bewust te zijn van de gevolgen en implicaties van die afgesloten deal.
Sales wil geen risico nemen als het op betalen aankomt en heeft van de koper in de binnenlanden van een Afrikaans land wel een Letter of Credit (L/C) als zekerheid gevraagd. De koper wilde die zekerheid wel geven maar dan moesten de goederen wel op DAP basis afgeleverd worden. “Geen punt” volgens Sales.
DAP wil zeggen “Delivered at Place” dus de verkoper moet alle kosten en risico’s voor zijn rekening nemen voor aflevering van de goederen op die overeengekomen plaats ergens in de binnenlanden van dat Afrikaanse land! Sales gaat er maar vanuit dat Logistiek het wel regelt maar weet niet wat voor onmogelijke uitdaging dit is als je je realiseert dat in Afrika sommige geasfalteerde wegen zomaar 5 km buiten de stad overgaan in onverharde moeilijk begaanbare wegen! Zo ook in deze casus, de dure machine moet eerst nog afgeleverd worden in de binnenlanden van dat Afrikaanse land want daar vindt het overdrachtsmoment plaats, aflevering van de machine door afgifte van een “Goods receipt” dat later onder het L/C aangeboden moet worden om betaling te verkrijgen onder het L/C!
Het was toch echt slimmer geweest om de machine af te leveren op basis van een andere Incoterm, liever geen E- of F-term, maar bij voorkeur een Incoterm uit de C-Groep, maar welke? Het is belangrijk dat iedereen binnen het bedrijf, Sales, Finance en Logistiek de impact begrijpen van iedere afgesproken Incoterm.
Het bepalen van Incoterms strategie bij inkoop en verkoop is maatwerk; praat er over met een specialist!
Ger van Rosmalen
Trade Finance Specialist
Meet our Experts – Interview Olivier Werlingshoff
23-06-2020 | Olivier Werlingshoff | treasuryXL
Our Expert Olivier Werlingshoff specializes in the following fields:
His focus is to help the business improve their working capital and cash management processes to release trapped cash, to reduce costs and to be “in control”. Get to know him better:
We asked him 9 questions, let’s go!
1. How did your Treasury journey start?
After working at banks as cash management consultant for several years I was asked to set up a treasury department at a corporate. The company was a combination of retail, real estate and development and active in the whole of Europe. Besides the set up of a new department they also wanted to optimize different working capital processes and increase the cash awareness. Coming from banks this was a total different environment. Instead of telling companies how to optimize their working capital, I had to do it myself together with different departments. My sales experience helped me to increase the internal cash awareness and to promote optimization of working capital processes.
2. What do you like about working in Treasury?
Treasury is the oil in organizations where all cash related departments comes together. By optimizing those processes you can get a grip on your cash, decrease risks and release trapped cash.
3. What is your Treasury Expertise?
Operational cash management, liquidity forecast (direct- indirect), risk management, (international) bank account structure, cash pooling, working capital optimization.
4. Do you have examples of risk mitigation, creation of opportunities and/or cost savings?
Yes, a lot of cost savings examples and also release of trapped cash. Decrease bank transfer pricing, introduction of new payment methods to increase the turnover, implementation of cash pools and optimize working capital processes to release trapped cash to mention a few.
5. What has been your best experience in your treasury career until today?
By showing the benefits of treasury to colleagues by increasing the cash awareness. By doing so, new ideas comes out of the organizations itself and are more easy to implement.
6. What has been your biggest challenge in treasury?
The implementation of a new payment system in a complex organization. You have to focus on stakeholder management and get the operational department behind you with support of the board members.
7. What’s the most important lesson that you’ve learned as a treasurer?
Treasury is a supporting function. You have to help other departments and the CFO to achieve their targets.
8. The coronavirus is undoubtedly an unprecedented crisis. In general, can you elaborate on the impact this virus has on treasury from your perspective?
In a lot of sectors the sales dropped due to the Corona lock-down. Companies need to have a clear view on their cash and be able to pay their invoices on time. Forecasting is more than ever very important and key to be able to forecast funding needs on time.
9. What is your best advice for businesses without a Treasurer?
Not all companies need a dedicated treasurer. Controllers need to have more focus on cash related items and risks (liquidity, FX, Interest and audit). Furthermore it will be good for controllers to focus more on forecasts instead of the reporting of past activities.
Olivier Werlingshoff
Owner at WERFIAD | Working Capital | Cash Management |
Does your business need support in Treasury or a Treasury QuickScan?
Webinar | July 16 | Mitigating Fraud With a Corporate Payment Hub
| 22-06-2020 | treasuryXL | Kyriba |
In today’s changing IT environment, we see more corporates exposed to the risk of fraud, due to legacy controls and manual processes. With many companies applying a new ‘working from home’ strategy, the risk of fraud is bigger than ever before.
In today’s changing IT environment, we see more corporates exposed to the risk of fraud, due to legacy controls and manual processes. With many companies applying a new ‘working from home’ strategy, the risk of fraud is bigger than ever before.
During this webinar we will hear:
Paul Simpson, Strategic Payments Director at Kyriba, together with Value Engineer, Alroy D’Cruz, will discuss these most important questions and will give you an insight on how Kyriba is supporting over 2,300 of your peers worldwide with our SaaS Payment Fraud solutions.
Presenters:
PAUL SIMPSON
Strategic Payments Director, Kyriba
ALROY D’CRUZ
Value Engineer, Kyriba
Submit on the registration page and save your place.
About Kyriba
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. For more information, visit www.kyriba.com.