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Antony Michels

COVID-19Treasury Management
August 4, 2020

Treasurers Master Managing Remotely, Face New Challenges

Challenges facing treasurers include communication, hiring, reviews and figuring out what lies ahead.The pandemic has demonstrated that treasury operations can function smoothly and without major problems when team members and managers are forced to work from home (WFH) for several months—while at the same time exposing the shortcomings and challenges of working and managing remotely. That mixed picture, as well as unresolved questions about the future, emerged during a recent virtual discussion among members of the Life Sciences Treasury Peer…
Antony Michels
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Cash & Working CapitalTechnology
August 4, 2020

Cash is King, Especially If You Know Where It Is at All Times

Pinpointing where all your cash resides—and how much you have—depends on good technology.The COVID-19 crisis has highlighted the value of technology that allows treasury to know—in real time—how much cash is available and where it is. A recent virtual meeting of NeuGroup’s Tech20HG—for treasurers of high-growth tech companies—revealed that the technology that treasury teams use varies: The pre-meting survey of members showed that 45% of respondents do not have a treasury management system (TMS), compared to 55% that do.Those with a TMS…
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Cash & Working CapitalCOVID-19Technology
July 30, 2020

How AI Can Hit the Cash Forecast Bull’s-eye When the Wind Is Wild

What happens to your AI-based model when historical data and cash flow patterns are disrupted?Cutting-edge cash forecasting models that make use of artificial intelligence (AI) and machine learning will, inevitably, require manual adjustments by humans to account for seismic disruptions like the pandemic. The good news is that AI models will eventually catch up with the new normal, becoming more accurate with less intervention. That was among the insights offered by Tracey Ferguson Knight, director of solution engineering (treasury) for HighRadius,…
Antony Michels
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Accounting & DisclosureBanking
July 30, 2020

On Track: Banks Adopting CECL Not Derailed by COVID-19

Regulators have allowed banks to delay implementing CECL, but most are well on the way to adopting the standard. Banks have been given extra time to implement the FASB’s CECL standard, but most are continuing their push to adopt the measure. The CARES act passed by the US Senate back in March offered banks the option to pause implementation until either the end of the year or the end of the COVID-19 national emergency, whichever came first. According to meeting material…
Antony Michels
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Cash & Working CapitalCOVID-19
July 28, 2020

Helping Hands: How Corporates Are Aiding Customers and Suppliers

Supply chain finance and how the “we’re in this together” approach to the pandemic is playing out.The COVID-19 crisis has put the meaning of business community—emphasis on community—into sharp relief as some businesses have survived well or even thrived (tech, consumer staples), while others have suffered devastating losses (retail, travel and hospitality). At few points in recent memory has the mutual reliance on comrades in commerce been more important; and as in families, it’s often the stronger of the business…
Antony Michels
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COVID-19FXRisk Management
July 28, 2020

What Dollar Weakness and ‘Japanification’ Mean for FX Hedging Strategies

Corporate financial risk managers should be reassessing long-held assumptions as they look to redo their hedging.Add a weakening US dollar to the growing list of reasons risk managers at multinational corporations need to take a long, hard look at their hedging programs and strategies. That takeaway emerged at a NeuGroup Virtual Interactive Session last week featuring Societe Generale global strategist Albert Edwards, known for his provocative mid-1990s “Ice Age” thesis of bonds outperforming stocks.Christophe Downey, a director in the bank’s…
Antony Michels
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BankingCash & Working CapitalTechnology
July 23, 2020

Scoring With Single Sign-On and Bank Portal Rationalization

One member’s winning use of single sign-on to access bank portals through Wallstreet Suite impresses peers. A NeuGroup member’s success at implementing single sign-on (SSO) to provide access to bank portals through the company’s treasury management system (TMS) made a splash at the spring virtual meeting of the Global Cash and Banking Group. Of equal interest was the member’s goal of taking away “as much bank portal access as possible” from employees, some of whom only need to see bank statements and…
Antony Michels
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COVID-19Insurance
July 23, 2020

Pandemic Stokes Fire of Rising D&O Insurance Premiums

Corporates see no relief as insurers take a hard line on renewals amid rising fears of COVID litigation. Premiums for directors and officers (D&O) insurance are surging, a pain point discussed at several NeuGroup meetings this spring, including the Tech20 Treasurers’ Peer Group and the Life Sciences Treasurers’ Peer Group. Premiums were already on the rise at the beginning of the year and now, amid the pandemic, they continue to rise. That’s in part because COVID-19-related D&O claims are already being…
Antony Michels
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Capital MarketsESGTax
July 23, 2020

A Green Light for Tax Equity Investments in Renewable Energy

There’s still time for corporates to benefit from federal tax credits and reap attractive returns.The final session of NeuGroup’s final H1 meeting featured a presentation on green and sustainability-linked finance by U.S. Bank, sponsor of the NeuGroup for Retail Treasury. Below are some key takeaways from the session as distilled by Joseph Neu, founder of NeuGroup and leader of the retail group. Update your view on the ROI of tax equity structures. Commenting on the cash flows from a transaction presented…
Antony Michels
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BankingCash & Working CapitalTechnology
July 16, 2020

COVID Boosts Contactless Payments, Revealing Retailer Frustrations

Low adoption rates in the US and issues such as routing rights and interchange fees may present challenges for some retailers as contactless payment grows.It’s no big surprise that the pandemic has pushed more US shoppers to use contactless credit and debit cards as well as mobile wallets. Tapping or waving a card or phone is a cleaner, safer way to pay than swiping or inserting a card. But what stood out at a recent NeuGroup for Retail Treasury meeting was the…
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