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China’s internet censors have a new target. But what could possibly be subversive about a giant inflatable toad?
Treasurers are increasingly turning to the single platform/multi-fund MMF portals made available by banks and independent providers. We look at Honeywell’s experience using such a product.
More companies are expressing an interest in e-invoicing than ever before. But is adoption being held back by the practice of charging suppliers for the invoices that they send?
In part two of this two-part look at the world of interim treasury we reveal some of the necessary skills and qualities that an individual must possess in order to succeed in this competitive space. Our guide is Netherlands-based interim treasurer of many years’ experience, Erik Teiken.
The solution offered to The Boston Consulting Group in the Middle East has addressed the challenge to integrate daily management of all transactions and accounts, bringing innovation to all three levels of liquidity management.
The collaboration between this company and its bank in Abu Dhabi has resulted in one of the first custom-designed, automated payment processes in the region, leveraging industry best practices and applying them to address specific local financial requirements.
Implementing a solution in a country like Iraq, which is still relatively politically and economically unstable, has comparatively high transaction costs, and is one of the most complicated countries in the region for routing LCs, is quite an achievement. Hear how Honeywell did it.
This successful approach shows how to strategically develop a treasury IT infrastructure without handling a dozen or more software systems or partners. It combines continuous innovation and process optimisation and automation while keeping IT complexity low.
Severn Trent Water is using the Pingit smartphone app allowing it to make and receive payments from its customers. The corporate functionality provides customers with an easy and convenient way to pay their bills, as an alternative to paying by cash, cheque or bank transfer simply by using their mobile phone.
The Microsoft treasury team utilises 1,300 bank accounts with 85 banks worldwide and makes over 12,000 treasury wire payments each year, totalling over $240 billion. Supporting such a high volume of wire payments through manual and paper wire requests was a cumbersome and inefficient process. Furthermore, it created delays during Sarbanes-Oxley audits when the team was asked to pull paper backup to ensure adequate support and authorisation for all of the transactions processed each year.