Cash & Working CapitalCOVID-19Treasury Management
August 20, 2020

Finance Teams Kept More Hands on Deck in Q2 to Navigate Rough Waters

The pandemic is taking a toll on working capital, leading to more rationing of cash, an FEI survey says. Far fewer finance teams planned on cutting headcount in the second quarter of 2020 than in the first, according to a survey released this week by Financial Executives International in collaboration with Deloitte. Meanwhile, the percentage of companies reporting a drop in working capital balances in Q2 rose by a third as the pandemic took hold. The survey of 170 of FEI’s…
BankingCash & Working CapitalTechnology
August 18, 2020

Turning to Kyriba for Payments Helped One Treasury Centralize Operations

The benefits of using one TMS for treasury payments and retiring a homebuilt infrastructure. One member of NeuGroup’s Global Cash and Banking Group recently shared the benefits of using Kyriba as a payment factory that handles about 85% of his company’s treasury payments. The advantages boil down to saving time while improving controls, oversight, visibility and efficiency, he said.Ultimate goal. The treasury director said his company used Kyriba as a tool to achieve the primary goal of centralizing treasury operations…
Cash & Working CapitalTechnology
August 13, 2020

DIY: Improved Cash Forecasting and Visibility With In-house Tools

A cash awareness culture results in better forecasting of future flows to support growth.Young tech companies thriving in the latter stages of a multi-year economic expansion when many investors had lots of cash to deploy can be forgiven for not always demonstrating disciplined cash preservation. “We are cash rich and our culture is not sensitive to cash,” as one member put it during a discussion of cash positioning and forecasting at a recent meeting of the Tech20 High Growth Edition.But…
Cash & Working CapitalTechnology
August 11, 2020

Exploring Cashforce’s Forecasting Solution, Among Others

Bottoms-up, top-down, ERP or bank statements? During a recent discussion about cash forecasting at NeuGroup’s Global Cash and Banking Group, one member asked if any of her peers had done demos of solutions from Cashforce. Another member said his company had reached the point where Cashforce is “going demo something” once an NDA is in place. “We have found them to be very open-minded,” the member said.That’s important because his company has decided it does not want a forecasting system…
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…
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,…
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…
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…
Customer paying using mobile phone
Cash & Working CapitalCOVID-19Technology
July 17, 2020

NeuGroup for Retail Treasury Pilot Series Wrap-Up

By Joseph Neu As part of our ongoing experimentation with new virtual formats, the NeuGroup for Retail Treasury pilot “meeting” was made into a series of Zoom sessions over the course of about six weeks, concluding this week. This group was launched in partnership with Starbucks Treasury on the member side and sponsored by U.S. Bank. Here are my key takeaways as a wrap up to the series: Covid-19 divides into haves and have-nots. Retail and other consumer-facing businesses, such as…
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…