BankingTreasury Management
October 21, 2021

Rough Road: Overcoming Post-Merger Integration Hurdles and Headaches

Insights and lessons from two ATs who confronted challenges including culture and tight deadlines. Low interest rates and plenty of cash on their balance sheets suggest large multinational companies will continue growing through M&A, challenging even experienced assistant treasurers (ATs) who tend to handle many finance-related integration issues. Two ATs of companies at the tail end of mergers each recounted at a recent meeting the long list of projects they faced to integrate elements of the merging businesses, including treasury management…
Cash & Working CapitalFXTechnology
October 21, 2021

Closing Loops: Connecting FX Hedging and Cash Forecasts

How one member uses Cashforce to save time and money on FX trades—and helped create an automated hedging process.One assistant treasurer at a recent NeuGroup virtual interactive session said that her primary project for 2021 is “to make treasury as no-touch as possible.” This is a common theme for treasurers recently, though it’s not always clear where to start. Her first step was to seek potential connections in existing processes and platforms—which led to an overhauled and streamlined process for foreign…
COVID-19Treasury Management
October 21, 2021

Work in Progress: Finance Teams Strive to Make Hybrid Models Work

The gradual and partial return to offices in a hybrid work world presents challenges and some potential opportunities. The hybrid work model many corporates were leaning toward last spring as the vaccine rollout began and infection rates dropped appears to have solidified as companies confronted the curveball sent by the Delta Covid-19 variant. Some treasury team members are itching to return while others are lobbying to stay home; with staff turnover reaching all-time highs at some companies, it’s critical to find…
BankingTalking ShopTechnology
October 21, 2021

Talking Shop: Using APIs or Host-to-Host for Bank Connectivity

Editor’s note: NeuGroup’s online communities provide members a forum to pose questions and give answers. Talking Shop shares valuable insights from these exchanges, anonymously. Send us your responses: [email protected] Member question: “Does anyone use host-to-host or API for bank connectivity? We are exploring those solutions and would be great to have your input.”Peer answer 1: “We use APIs for bank connectivity, from giving payment instruction to monitoring payment status to getting real-time balance and transaction details.”Peer answer 2: “We do not…
BankingTechnology
October 18, 2021

Teaming Up with Tech Firms: Deutsche Bank’s Multifaceted Approach to Cash Management Solutions

Deutsche Bank veteran Suman Chaki explains a strategy of developing bank-agnostic solutions with tech partners like TIS while continuing to invest in proprietary tools to solve problems faced by corporate clients. Deutsche Bank managing director Suman Chaki has an impressive and extensive record of advising corporate clients and helping them solve a variety of cash management challenges. So it’s no surprise that his insights and perspective on what treasury teams at multinational corporations want and need from banks, and how…
BankingESG
October 18, 2021

Treasury’s Need for an ESG Filter to Keep the Focus Where It Belongs

Tech treasurers in Asia discuss ESG priorities with Goldman Sachs Asset Management. Members of NeuGroup for Asia Tech Treasurers heard insights on treasury’s growing role in the accelerating efforts of corporates to promote sustainability through environmental, social and governance (ESG) initiatives at a recent meeting sponsored by Goldman Sachs Asset Management (GSAM). Among the key takeaways: Figuring out what matters and what doesn’t to investors and other stakeholders diving into the ESG pool is critical for treasurers facing pressure to innovate and manage…
RegionalTreasury Management
October 18, 2021

Payoffs From ‘Preaching the Gospel of Global Treasury Operations’

Partnering with global business services (GBS) helped one treasury team boost cash visibility and achieve consistency.Companies expanding globally have often left regional affiliates with their own treasury back offices to support the local business, resulting in fragmentation of the treasury function and costly inefficiencies. That takes time away from corporate treasury that could be spent addressing more strategic issues.   “Preaching the gospel of global treasury operations,” the assistant treasurer (AT) of one NeuGroup member company said, required convincing local…
FXTalking Shop
October 18, 2021

Talking Shop: Who Outside Treasury Reviews Hedging Strategy?

Editor’s note: NeuGroup’s online communities provide members a forum to pose questions and give answers. Talking Shop shares valuable insights from these exchanges, anonymously. Send us your responses: [email protected] Member question: “Do other companies review their FX hedge strategy with functions/leadership outside of treasury? “We review FX impact results (underlying + hedge) monthly with the CFO, but we don’t discuss our hedge strategy, which has raised questions on governance.“If you do review your hedge strategy (hedge ratios, currencies, execution approach, instrument…
NeuGroup News
October 7, 2021

Achieving Best Practice with NeuGroup

Benchmarking with fellow NeuGroup members has been influential for Medtronic treasurer Tim Husnik.  Medtronic Senior Director Tim Husnik’s mission to achieve treasury best practices started with learning what other world-class companies are doing by listening to his peers at NeuGroup peer group meetings.  “Your first goal is: You got to get to best practice,” he said. “Seeing what other peers are doing through the NeuGroup, that was my first way to see, at other companies, how are people doing this?”  The NeuGroup advantage: achieving best practice. Hear Mr. Husnik’s full thoughts on how NeuGroup helped…
BankingCompliance
October 7, 2021

A Treasury Dream Coming True: Handing KYC to Corporate Governance 

One treasury team made a winning case that the governance group should own KYC.Call it reaching the treasury promised land or a dream come true. Whatever you call it, one treasury team’s early-stage success at shifting responsibility for know your customer (KYC) compliance to a corporate governance group generated plenty of buzz and some envy at a recent meeting of NeuGroup for Global Cash and Banking. “I’m really excited to get out of the KYC business,” the member told his peers…