• Railway crossing sign by a gate and overgrown field

    Barriers to cash pooling

    Corporates looking to improve their liquidity have focused on cash pooling with renewed vigour since the credit crunch. In this article, we take a look at some of the problems treasurers face when putting these structures in place, focusing in particular on the challenge of getting subsidiaries on board with a new pooling structure.

  • Separate accounts

    Money market funds are a popular investment vehicle but they are not without their limitations: investors have little control over the securities in which the funds invest and in the current market yields remain low. Separate accounts are emerging as an alternative for investors looking for higher yields and greater control over their portfolio.

  • SWIFT for Corporates: do costs outweigh benefits?

    Companies are increasingly realising the value of connecting with their banks via SWIFT. With falling costs and an ever-growing array of messaging services geared specifically to the corporate market, the business case for SWIFT access is becoming easier to quantify. However, there are still obstacles to adoption, and the benefits will not outweigh the cost for many companies.

  • Man swimming in ice cold water surrounded by snow and ice

    SEPA: time to take the plunge

    Corporate treasurers have tried their best to ignore the Single Euro Payments Area (SEPA), but the recently issued end-date regulation means they will have no option but to adopt the system over the next two years.

  • Money related graph on screen

    Never lose money: investor objectives revisited

    Security, liquidity, yield: the three objectives of investors have been aligned in this order since the start of the financial crisis, with yield coming emphatically bottom of the list. However, with interest rates expected to remain near zero for the time being, some investors are starting to look more proactively at the possibility of increasing return on their investments – without compromising on all-important capital preservation.

  • Road sign pointing both ways, one black arrow and one red

    Return to sender – reverse supply chain

    Companies spend a great deal of time and money perfecting their forward supply chains, only to neglect backward flows – that is, the return of goods that have been supplied. European retailers, in particular, are reportedly losing billions each year to poor management of their reverse supply chains. So, what can be done to manage these flows more effectively and how can treasury generate profit from waste?

  • Treasury reporting

    The demand for daily financial information from the company’s board of directors may have eased as the crisis did, but for many treasurers, enhanced reporting has become a way of life. How has treasury reporting changed post-crisis and what more can you do to ensure the right information is available to all the stakeholders in the business?

  • Corporate Funding Association: a bright future?

    Although large companies with good credit ratings are having no trouble accessing domestic and international bond markets as well as bank finance, it has become more expensive. Companies believe that that they are now paying for the banks’ mistakes with regulation and risk driving the cost of lending higher than it should be. We ask whether the Corporate Funding Association could be a viable alternative.

  • Making cash management easier in Euroland: derailed by crisis?

    Sovereign risk is back on the treasury agenda and the hope that growth in new European states and their inclusion in the Eurozone would lead to a new integrated era of cash management in Europe has suddenly disappeared. Uncertainty prevails in the wider economic picture as well as in day-to-day treasury operations within Europe.

  • Back to the future – eBAM

    Often the simple actions of opening, maintaining and closing bank accounts can take between three days and two weeks to complete – a seemingly ridiculous timescale given the electronic age we live in. With more banks and corporations willing to embrace electronic bank account management (eBAM), are those days of unwieldy processes and long delays over?