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Justin Jones

Technology
October 9, 2024

Bloomberg Terminals: How Much More You’ll Pay Next Year

The monthly price for two-year subscriptions will increase 6.5% in 2025. Treasury and finance teams and anyone else who considers the Bloomberg Terminal a must-have tool will pay 6.5% more for two-year subscriptions that begin or renew on or after Jan. 1, 2025. In a letter to customers, the company said, “Consistent with Bloomberg’s historical practice, our price increase is linked to weighted global inflation over the prior two-year period.” The monthly charge for Bloomberg clients with more than one…
Justin Jones
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Treasury Management
October 9, 2024

Building Blocks of Treasury: Core Skills and Practical Learning

A NeuGroup survey reveals younger professionals want core treasury skills and most learn from on-the-job experience.As treasury professionals look to enhance their impact, core skills that drive strategic value are in high demand. While formal training programs are limited, many team members are finding success through hands-on experience, mentorship and cross-functional projects. In a new survey, members of NeuGroup for High Potentials—which brings together early career and developing finance leaders—say the top skills they’re aiming to sharpen are cash flow forecasting,…
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Cash & Working CapitalTechnology
October 9, 2024

Virtual Cards: B2B Payment Method Draws Interest Amid Obstacles

The cards offer corporate buyers another tool to boost working capital, but some vendors balk at interchange fees.Virtual credit cards are generating buzz among treasury teams looking to improve working capital management by extending payment terms while allowing smaller vendors that don’t participate in supply chain finance programs to be paid sooner. That lets buyers hold their corporate cash longer and invest it at today’s attractive interest rates. “As rates have increased, and even while they now fall, the value…
Justin Jones
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TechnologyTreasury Management
October 2, 2024

Blurring Lines Between Treasury and IT to Create a Unified Team

Cross-functional collaboration is key to smooth software implementations. Collaboration and shared accountability between treasury and IT are increasingly seen by top-tier finance organizations as essential for implementing complex software solutions. For many NeuGroup members, breaking down traditional silos is not just an ideal but a practical necessity—one that results in a more resilient, efficient treasury function. As treasury teams navigate digital transformation, implementing new technology can take months and involve dozens of people, requiring seamless coordination between treasury and IT.…
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Pension and BenefitsThe NeuGroup Insights Interview
October 2, 2024

How Being ‘Like Water’ Helped One Man Revamp Medtronic’s 401(k) Plan

Todd Thorsen’s yearslong persistence and patience eroded obstacles and flowed to a superior plan for participants. From concept to completion, Todd Thorsen spent more than five years overhauling the 401(k) defined contribution plan at Medtronic. He wanted participants to have access to what the company offered in its pension plan—customized investment options that provided employees and retirees more diversification and flexibility at very low costs. In a video you can watch by hitting the play button below, Mr. Thorsen says he approached…
Justin Jones
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Cash & Working CapitalInvestment Management
September 25, 2024

Cash Investment Managers Mull Duration Changes After Rate Cut

A sampling of sentiments about short-term cash investments as yields respond to Fed rate cut. The Federal Reserve’s 50-basis-point rate cut last week is generating plenty of buzz among treasury teams responsible for investing excess cash who have made the most of short-term rates topping 5% following years of yields near zero. The beginning of rate cuts raises the question for some cash investment managers of when to start extending duration. More context: After the Fed started raising rates in…
Justin Jones
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Cash & Working CapitalTechnologyThe NeuGroup Insights Interview
September 25, 2024

Exceeding a Skeptic’s Expectations: ML for Cash Forecasting

Bechtel’s machine learning models outperformed traditional cash forecasts, happily surprising AT Dan Degagne. Earlier this year, Bechtel assistant treasurer Dan Degagne spearheaded an in-house project to develop a machine learning (ML) model designed to relieve some of the pain of generating accurate cash flow forecasts—a challenge shared by just about every company in the NeuGroup Network. Mr. Degagne had doubts about the ultimate outcome. But in a new NeuGroup Insights video you can watch by clicking the play button below, he says he was…
Justin Jones
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ComplianceInsuranceRisk Management
September 18, 2024

Rewriting the Insurance Playbook: ERM’s Strategic View of Risk

Using an ERM framework for insurance transformed one company’s decision-making and coverage strategies. Faced with rising premiums and pressure to optimize costs, one NeuGroup member refocused his team’s insurance strategy around the company’s framework for enterprise risk management (ERM). That enabled more thoughtful, data-driven decisions about spending and coverage. The key objective, the member said, shifted from “Do we need this policy?” to “Is it worth the cost?” “ERM helped us understand where to allocate resources,” the member said in…
Justin Jones
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Cash & Working CapitalTalking ShopTechnology
September 18, 2024

Talking Shop: Which Tech Tools for Cash Flow Forecasting?

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]. Context: Better cash flow forecasting is a goal shared by nearly every treasury team. That’s true no matter how far along they are on the seemingly endless journey to automate processes, access and analyze quality data, and leverage advanced technology—including machine learning (ML) and AI—to reach higher levels of accuracy and efficiency. Some…
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ComplianceTechnology
September 11, 2024

Bots and SOX: IT Auditors Tap RPA To Reduce Repetitive Work

One member’s IT audit team blazes the automation trail for the broader finance organization to use time-saving bots. The job of IT auditors at many NeuGroup companies includes testing and auditing automated controls and compliance related to the Sarbanes-Oxley Act (SOX). Auditing those controls manually is often a painstaking and repetitive process, so implementing robotic process automation (RPA) to get the job done makes a lot of sense. That was among the takeaways from a recent monthly session of NeuGroup for IT…
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