European Cash Management 2015

Published: Sep 2015


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Staying one step ahead

Known for writing the industry ‘Bible’ on European Cash Management (ECM), this year, Treasury Today has updated its signature Handbook to focus less on the static fundamentals of ECM and more on the shifting dynamics of the landscape. It is designed to bring treasurers up-to-speed with the latest developments impacting treasury operations in and across Europe, so that they can be prepared for what lies ahead.

Although Europe is often viewed as one region, there are distinct nuances between countries and areas of the continent which we explore in Section 1 of this new Handbook. Did you know for instance that Turkey is fast becoming an e-invoicing pioneer? Or that supply chain finance adoption is rapidly growing in Central and Eastern Europe? Alongside these more specific trends, we also look at the political and economic situation across Europe, as well as the evolving regulatory landscape.

Of course, we cannot talk about Europe without mentioning SEPA – and this is the subject of Section 2 of this Handbook. Here, we examine the centralisation and rationalisation drivers that going beyond basic SEPA compliance can offer corporates, covering the use of ISO 20022 XML and looking at the possibilities presented by on-behalf-of structures, among other key issues.

Another ever-present element of the ECM landscape today is the tough short-term investment environment, with rates still at rock bottom and regulation such as Basel III and money market fund (MMF) reform only compounding matters. As such, Section 3 compares more traditional investment options with possible alternatives such as separately managed accounts and tri-party repos.

Section 4 then focuses on cash management innovation, covering everything from mobile payments and analytics to virtual accounts. We also look at the latest developments in working capital management and liquidity position monitoring. And finally, in Section 5 we provide a handful of useful checklists that bring together advice from experienced industry practitioners around some of the key trends raised in this Handbook.

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