• Small jar full of coins, saving money concept

    Good cash management = less banking

    The most effective route to efficient cash management is to minimise banking – balances at banks and flows through banks – because such third-party interactions inevitably increase both risks and costs.

  • David Blair, Acarate

    Conference learnings

    I have had the pleasure of chairing and moderating a few conferences recently. This gives me the opportunity to hear lots of insights. Here are some of my favourite ones.

  • David Blair, Acarate

    Agile treasury

    David Blair has had the privilege and pleasure of working on an Agile software development project this year. He says there were many similarities between this and his time working in small treasury teams. Here are some of his further observations on how Agile relates to treasury.

  • David Blair, Acarate

    Ripple vs SWIFT: payment (r)evolution

    Cross-border payments are currently slow, expensive and opaque. Ripple offers sub second efficiently priced payments using a variant of blockchain technology. In response, SWIFT has launched GPII, same day credit of funds, up front pricing and payment tracking. This article explores the two solutions, and what they mean for treasurers.

  • David Blair, Acarate

    In-house banks without expensive software

    The current popularity of in-house banks (IHB) combined with the regulatory uncertainty surrounding notional pooling makes the case for multicurrency virtual accounts (MCVA) very attractive to a wide range of treasurers.

  • David Blair, Acarate

    Payments without banks

    The current arrangements for storing and transferring value evolved over centuries under organisational, legal and technical constraints that are now mostly irrelevant. Rather than delegating account holding and payments to banks, central banks should bank us all directly.

  • David Blair, Acarate

    Blockchain for treasurers

    Several conferences in 2016 have persuaded me that most treasurers (and most bankers) do not really understand distributed ledgers such as blockchain and their implications for the profession. Here I take a closer look at the key attributes of distributed ledgers and put these into perspective.

  • David Blair, Acarate

    Conference whirlwind

    I had the pleasure of chairing at three conferences in the last month – ACTS/ATC in Singapore, SIBOS in Geneva and EuroFinance in Vienna. When I look through my notes, my head spins. My only conclusion is that we are at a confusing point. Here are some observations.

  • David Blair, Acarate

    Treasury metrics

    Treasury metrics should link up to the departments overall goal, which will be some form of cost effective risk reduction. However, performance can only be properly defined in terms of parameters that are in practice subjective, and therefore must be set by the board of directors. In this article I explore the various metrics that treasury may wish to employ.

  • David Blair, Acarate

    Cash is reality

    Despite mountains of academic literature, clear evidence of corporate performance, and professional investor behaviour, firms are often managed – and employeesrewarded – for accounting results. Why is cash flow so neglected?