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Introduction of a new initiative: Treasurer Development
| 1-9-2017 | treasuryXL |
Treasury education
In treasury education we see a rising interest from universities (also of applied science) which results in young graduates with treasury expertise. Both courses with certifications, like RT, ACT or CTP, are discussed as well as compact, result oriented trainings. Especially quick knowledge about FX and risk is in demand. The number of on-line trainings is quickly rising.
The ambition of many treasurers to have a bigger business impact results in a higher demand for training and coaching. Skills you do not learn in class. Questions like “what communication style works with an average and my CFO” or “how do I convince colleagues in an operating company to change their working methods” deserve a tailor made approach.
The labour market is tilting, the number of vacancies is rising. The way employers and employees find each other has changed over the last decade. Social media have a huge impact. Candidates do not only think about the next step but also about their career as a whole and the place their job has in life.
Treasurer Development Initiative
From this perspective a small group of professionals with relevant expertise came together to start the Treasurer Development Initiative. Questions like “how can we raise the professional level of corporate treasury and increase its impact” and “how can we introduce treasury in places where it has an added value” will be considered from the perspective of the professional.
In our next blog we will introduce the group and inform you about first plans. If you want to contribute, please let us know.
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Going cashless or not – will we have a cashless world?
|30-8-2017 | Olivier Werlingshoff | GTNews |
In their article ‘Going cashless or not: are Central Banks resigning facing private companies?‘ GTNews and author Nathan Evans depict an image of a cashless world and the decline of Central Banks. With online shopping sites or GAFA companies (Google, Amazon, Facebook, Apple) taking over with cashless payments because, as Nathan Evans writes, ‘the more cash disappears from our economies, the more money falls into their virtual pockets’ will we have a cashless world? We asked our expert Olivier Werlingshoff to give us his opinion about a possible disappearance of cash.
Alliance
According to Nathan Evans a surprising alliance is slowly coming together, in the global war on cash. Large internet-based companies and commercial banks are mixing interests with top-level governmental bodies to press for the disappearance of hard currency, and speed up the digital transition towards a cashless world. On the losing end of the intended shift, central banks which seem to be putting up feeble resistance. Private banks are fed up with the high costs and low profitability of managing cash and its expensive security services.The EU Commission discretely published its anti-cash measures on its website: “The establishment of a common cash control strategy upon entering or leaving the territory of the EU was a decisive step in the EU policy aimed at the strengthening of measures to prevent money laundering, terrorist financing and other illegal activities. One would have imagined that central banks and mints would be the first on the barricades to defend the national symbols bequeathed upon them , as they cease to exist if coins and banknotes dissappear. But so far, they have been remarkably feeble in their resistance.
Our expert Olivier Werlingshoff has read the articel and comes back with the following remarks:
I don’t think cash payments will disappear soon. At this moment 60% of all payments in Europe are done with cash. A few positive aspects of cash are:
Two years ago I set up a test at a shop B2C to see what happened if during six weeks cash payments were not accepted. What happened was that the number of contactless payments increased but the total turnover of the shop decreased. After the test when cash was again accepted the turnover didn’t reached the level of before the test.
A few customers decided during the test to look for other shops where they could still pay with cash and decided after a few weeks not to come back.
For more information about this topic you can visit de website of G4S for the cash report: http://www.g4scashreport.com/
If you are interested to read the complete article at GTNews, please click on this link.
Olivier Werlingshoff
Owner of Werfiad
More articles of this author:
How to improve cash awareness without targets
How to improve your working capital with trade finance instruments
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