BankingTalking ShopTreasury Management
April 8, 2021

Talking Shop: Who Is Allowed to Open Bank Accounts at Your Company?

Editor’s note: The NeuGroup Process brings members together to solve problems and answer each other’s questions in a variety of forums, including online communities for specific groups—one of many benefits of membership. Talking Shop shares valuable insights from these members-only exchanges (anonymously) with all members and NeuGroup Insights readers. We welcome your responses—and any questions you want answered: Member question: “We are trying to do some benchmarking: Do your board resolutions allow the treasurer (and others?) to open bank…
BankingTalking ShopTechnology
April 1, 2021

Talking Shop: Payment Platforms; Supply Chain Finance; Bank Capital

Member question 1 (payment platforms): “We are having discovery calls with FIS, TIS and Fides to understand their value propositions. “Our main pain points are having all sorts of e-banking portals, and arise when we onboard new entities (recently acquired) and penetrate new countries.“Anybody having any experiences with the vendors listed? And suggestions how to best select (did you RFP this business?).” Peer answer 1: “We have used TIS for some years now and are quite happy. They have a…
Cash & Working CapitalRisk ManagementTalking Shop
March 25, 2021

Talking Shop: How Do You Use Counterparty Exposure Information?

Member question: “Does your organization review counterparty exposure? If so, how do you use this information? “What exposure types do you include? Cash, bank products, derivative contracts, other?“I understand that there are some organizations that set limits to how much exposure can be outstanding per counterparty. Does anyone have this practice in place?” Peer answer 1: “I monitor this frequently and have limits tied to my overall assets. Here are some items we look at for our liquidity providers: JurisdictionRegulatory environment…
BankingCash & Working CapitalTalking Shop
March 18, 2021

Talking Shop: Do You Have One Banking Partner for AR and AP?

Member question: “In the US, do you have one banking partner for AR and AP, or do you split the business, with one bank for AR and a separate bank for AP? “For those that split the business, is this a share of wallet decision or an operational decision? Are there any operational pain points associated with having two banking partners?” Peer survey results: The majority of survey respondents use a single bank, with about one-third splitting the business. Peer…
Capital MarketsTalking ShopTechnology
March 9, 2021

Talking Shop: A Fintech Collects Capital Markets Pricing Data

Background: Members of NeuGroup for Capital Markets recently heard a presentation from InterPrice Technologies, a woman-owned fintech that collects pricing data for issuers. The company says its platform gives corporates access to their costs of capital “at any point in time and streamlines their communication with financing partners.” The technology “automatically aggregates bond, commercial paper and loan indications into intuitive dashboards across currencies and financing products,” InterPrice says.InterPrice on Monday announced it has raised $2.5 million in seed money led…
RegionalTalking Shop
March 4, 2021

Talking Shop: Italy’s New Way to Make Public Administration Payments

Member question: “As of the end of Feb., it is mandatory to pay the public administration in Italy through a payment system called PagoPA. To my knowledge, none of the big banks support this. We currently use a local Italian partner bank for this purpose. “Does anybody know if it is also mandatory to pay the public administration through this PagoPA system when paying from a nonresident legal entity outside Italy?” Peer answer 1: “We are in the process of…
Cash & Working CapitalTalking Shop
March 2, 2021

Talking Shop: Holding Physical Cash ‘Under the Mattress’

Member question: For business continuity or emergency use purposes, are you holding any physical cash on hand at one of your sites?Peer Survey Results: “No” wins in a landslide.Peer answer: “Our US company does not currently keep any cash ‘under the mattress,’ however I do think there are some places around the globe that do have some . “I’m assuming you are asking this post-Fedwire disruption? Was anyone negatively impacted by that? I am wondering if anyone is preparing any…
Cash & Working CapitalTalking ShopTax
February 25, 2021

Talking Shop: Allowing Direct Debits for Payroll Tax

Member question: “For those of you who use ADP for payroll in the US, do you allow them to do direct debits on your bank accounts, specifically for payroll tax payments?” Peer answer 1: “We just converted to direct debit with ADP in the US. Happy to put you in touch with the team that evaluated and executed the project.” Peer answer 2: “We allow direct debits for both payroll and payroll tax. We fund to a separate, stand-alone payroll bank account that is…
Capital MarketsTalking Shop
February 23, 2021

Talking Shop: Yes or No When Moody’s Asks for Dealer Agreements?

Member question: “Moody’s is asking us to provide our dealer agreements for our commercial paper program. Historically we have not provided private agreements. Are you seeing this also and if so, are you providing the agreements? “For what it’s worth, Moody’s is saying they want it to see the settlement period language in the document. We have provided the private placement memorandum which contains the binding settlement language.“We have not provided the dealer agreement and are pushing back on the…
BankingESGTalking Shop
February 18, 2021

Talking Shop: Handling Grant and Expense Payments for a Foundation

Member question: “How is your company handling grant and expense payments for its foundation? Is this handled leveraging existing company processes, tools and teams or outsourced to service providers, such as Foundation Source, etc.? “We’ve outgrown the manual check process and need to scale up here and are curious to learn how you manage this.” Peer answer 1: “Our foundation accounts are with our concentration bank and managed by specific individuals in our corporate team. “We have raised the question…