Cash & Working CapitalTreasury ManagementUncategorized
May 5, 2015

On-Behalf-Of Structures: Lessons Learned

More companies are moving to streamline their payments and collections with on-behalf-of structures. Here are some lessons from the field. (Editor’s Note—Original publication date: May 5, 2015) Being a trailblazer is always nice but sometimes it pays to be the one who comes along next and learns from the trailblazer’s mistakes. And certainly, the more multifaceted the effort, the bigger the lessons learned. Such is the case with corporate payment and collections, part of the growing importance of supply-chain management…
Senior ExecutiveTreasury ManagementUncategorized
March 17, 2015

Treasury Center as Profit Center

The silver lining in the new scrutiny of global transfer pricing is that treasury might finally escape from its cost center box. (Editor’s Note—Original publication date: March 17, 2015) The context here is the mess treasury is going to face with tax, cleaning up after the OECD BEPS Actions. The silver lining is that the new scrutiny of global transfer pricing might serve as justification for treasury to become a profit center, or at least set up treasury centers and…
BankingCapital MarketsComplianceRisk Management
December 17, 2010

Checklist: What You Should Know About ISDAs

Understanding the standard document used to govern over-the-counter derivatives transactions.Based on many discussions with practitioners in NeuGroup peer groups, here is a checklist of things to consider when implementing ISDA Master Agreements (ISDAs). One of the first considerations is whether it is worth bothering to set up an ISDA with every counterparty. Only value-add banks, please. With limited trading capacity to spread around—as well as treasury bandwidth—practitioners agreed that firms should focus on the banks that are able to add…
Cash & Working Capital
June 16, 2003

Crossborder Pooling: Notional vs. ZBA

For many MNCs, an emphasis on effective management of working capital has translated into renewed urgency in rationalizing liquidity structures. (Editor’s Note—Original publication date: June 16, 2003) The tight credit market—combined with general economic weakness—has forced a strong focus on cash and liquidity management for both cash-rich and cash-poor companies. As the ability to generate cash (or borrow it) has declined, MNCs report an increased need to have a clear view of their cash position globally. Visibility, however, is not…