• Horses racing

    Best practice: finding your gold standard

    Every treasury department is different thanks to a wide array of variables – geographic spread, industry, staffing levels, to pick just three. How do you find out the treasury best practices suitable for your department?

  • Group of dirty paintbrushes

    Creativity in challenging times: innovation in payments

    The payments world is vast and expanding rapidly. While much of the visible progress can only be found in the retail space, corporates should be aware of the quiet revolution taking place. From corporate payment processes to bank best practice, and non-bank market participants through to new technology, innovation is driving growth and efficiency. But challenges remain, particularly in the face of new regulations.

  • Rainy day in a big city

    Regulatory pressure: the never-ending storm

    Having been debated since the financial crisis hit in 2008, last year saw the first major pieces of post-crisis regulation come online across the financial world. The breadth and depth of the regulation is staggering, but there may be a (small) silver lining to the cloud for corporates and banks.

  • Photo of traffic lights

    SEPA: where are we now?

    It has not been an easy journey for the SEPA initiative. In truth, SEPA has been dogged by an array of disagreements, issues and confusion. And despite heavy investment from a number of large banks in many European countries, the true benefits of the payment scheme are yet to be seen. So, will the regulatory proposal for end-date implementation mean that the initiative truly gets out of the starting blocks? Also, is SEPA under threat from the Eurozone crisis?

  • Satellite orbiting the Earth

    Mobile technology: friend or foe

    Some see mobile treasury technology as a blessing which gives the modern treasurer convenience and flexibility. But the ability to undertake treasury tasks from any location is a dream to some, a nightmare to others.

  • Close up of detailed watch

    Counting the minutes

    While Basel III and other new liquidity regulations will require banks to focus on attracting longer-term deposits, post-crisis treasurers continue to prioritise liquidity over yield and as a result are taking a short-term approach to their cash. But how short is short-term? With real-time visibility over corporate cash positions becoming a reality, could treasurers have anything to gain by paying closer attention to intraday liquidity management?

  • Deep sea oil platform

    Care to speculate?

    Profit centre treasuries had their heyday in the 1990s – but treasurers have long since turned their back on this model. Or have they? While the number of profit centre treasuries has certainly dwindled, a few of them are alive and well today – and this model could even be poised for something of a comeback.

  • Track runner crossing the finish line

    How well are you doing? Benchmarking treasury

    Performance and efficiency in any aspect of treasury operations can only be reasonably evaluated when that function’s output has been measured. But in practice, how many treasurers use any form of benchmarking or system of key performance indicators? And how can they know they are measuring the right things?

  • Brass barometer pointing to change

    The challenges of cashflow forecasting

    Predicting the future is always going to be a struggle, and in reality a cashflow forecast is almost never 100% accurate – no surprise, then, that many treasurers view forecasting as one of the more problematic challenges of the job. Furthermore, when it comes to forecasting no two treasuries are alike and the differences extend to the crucial question of how accurate a forecast needs to be. However, by keeping a clear view of the objectives of the exercise and by managing subsidiaries’ reporting requirements, many of the difficulties treasurers face can be overcome.

  • Rugby players tackling

    Tackling FX risk: volatile is the new norm

    The start of the financial crisis marked an abrupt reversal in currency markets and the current volatility levels look to be here to stay. Treasurers are looking to re-evaluate their hedging strategies and in some cases are starting to revisit the types of structured product which fell out of fashion during the crisis. Meanwhile, the ways in which the largest multinationals hedge FX risk is increasingly diverging from the hedging strategies of smaller MNCs.