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COVID-19

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 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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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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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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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…
Joseph Neu
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COVID-19TechnologyTreasury Management
July 16, 2020

Pandemic Pushes Companies to Digitize Processes, Prioritize People

Treasurers at tech firms push to abandon legacy processes while focusing on keeping teams connected. Many tech companies during the pandemic have been able to announce that they will not lay anyone off during the crisis—and have been able to keep their promise. Unfortunately, that’s not universally true—some businesses have been particularly hard hit and have had to furlough or cut staff, and consequently do more with less. This prompted a hard look at projects and their prioritization for many members of…
Antony Michels
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Cash & Working CapitalCOVID-19
July 2, 2020

Cash and COVID-19: A Tale of Two Companies

One company asks, “Where is the cash?” while another reevaluates operational processes. The economic upheaval unleashed by the pandemic divided the universe of companies at a recent virtual meeting of the Global Cash and Banking Group into two camps: Those with ample liquidity that were able to manage cash and conduct business as usual; and those forced to play defense and go “back to basics,” as one member in the latter camp put it. Two member companies sharing very different perspectives…
Antony Michels
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Cash & Working CapitalCOVID-19
June 30, 2020

US Coin Shortage: Retail Treasury Teams Call for Action, Urgency

Call it a disruption or call it a shortage—not enough coins means pain for retailers and banks.Treasurers of major retailers and restaurant chains sounded loud notes of alarm at a NeuGroup virtual meeting Friday about what many observers are calling a coin shortage. U.S. Bank, the meeting sponsor, described it as a “severe disruption” in the nation’s coin circulation sparked by COVID-19. (People have spent less cash during the pandemic and have exchanged far fewer coins for bills or credit…
Antony Michels
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COVID-19Investment ManagementRisk Management
June 16, 2020

A “Perfect Storm” in Emerging Markets Shatters Hope for Some Investors 

Treasury investment managers hear sober forecasts and calls for greater action by the IMF.Hardly any of the treasury investment managers who met in early May at a NeuGroup virtual meeting said they owned emerging market (EM) debt—not very surprising given that most companies have been parking cash in high-quality, short-duration investments since the pandemic rattled credit markets. But one manager who does invest in USD-denominated EM debt said he was “bitterly disappointed” in the International Monetary Fund and G7 nations that had…
Antony Michels
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