FP&ATechnology
July 1, 2021

Rolling Forecasts by FP&A Gain Ground in Pandemic Despite Obstacles

The pandemic and rapid recovery underscore the benefits of more frequent forecasts by FP&A, but transitions can be messy. At a recent NeuGroup meeting for heads of FP&A teams co-sponsored by fintech OneStream Software, more than half of members surveyed said they are updating their forecasts more frequently—some using rolling forecasts—a practice prompted by the pandemic and continuing because of the rapid economic rebound. Instead of updating the standard 12-month forecast yearly, more teams now continuously update throughout the year. Most…
CryptoRegionalTechnology
June 24, 2021

China and Beyond: Understanding Central Bank Digital Currencies

Insights from HSBC on CBDCs, as China’s tests of a government-backed digital currency, dubbed e-CNY, grow larger.Most multinationals in the NeuGroup Network do business in China, just one reason finance teams need to stay on top of the country’s expanding tests of a digital version of the yuan known as the e-CNY, a so-called central bank digital currency or CBDC. HSBC’s global head of FX research, Paul Mackel, spoke at a NeuGroup virtual interactive session sponsored by the bank this…
BankingCryptoTechnology
June 24, 2021

Early Innings in the Fintech Disruption Game

A partner at VC firm Canapi Ventures says regional banks can play by helping developing the digital infrastructure. Blockchain-technology firms may be among the best-known disruptors of traditional banking services, thanks in part to the extreme volatility of the cryptocurrencies the technology supports, like Bitcoin. But fintechs take many forms, and the real disruption is still to come. That takeaway surfaced at a recent NeuGroup meeting of bank treasurers that included insights from Jeffrey Reitman, a partner at Canapi Ventures, which…
CryptoInvestment ManagementTechnology
June 17, 2021

All Aboard? The Crypto Train Has Left the Station

Finance teams need to look beyond Bitcoin to broader opportunities offered by blockchain technology and digital assets. Don’t let all noise blaring from bitcoin drown out the broader implications of blockchain technology and the need for finance teams to understand the potential opportunities offered by cryptocurrency and other digital assets including tokenized securities. That bottom-line takeaway emerged at a recent meeting of NeuGroup for Cash Investment 2 sponsored by State Street, where representatives from Deloitte as well as cryptocurrency fintechs Lukka…
TechnologyTreasury Management
June 17, 2021

Treasury Help Wanted: Junior Members With Skills Beyond Finance

Members of NeuGroup for High Potentials also discuss the value of the Certified Treasury Professional Designation. At a meeting this spring, NeuGroup’s High Potentials group discussed critical skills and career management that included observations on the value of the Certified Treasury Professional (CTP) designation and current hiring challenges facing treasury teams. Following are takeaways from NeuGroup’s Andy Podolsky, who moderated the session. A skills checklist. The meeting included a survey about what skills members believe every treasury professional should possess. Highlights: FX…
Investment ManagementTechnology
May 13, 2021

Square’s Bitcoin Investment: The Early Steps of a Crypto Pioneer

Digital payment processor Square describes the details and nuances of its $220 million bitcoin investment.Square, the digital payments company, has generated headlines by investing significant sums in bitcoin—along with crypto heavyweights like MicroStrategy and Tesla (which on Wednesday said it will stop accepting bitcoin for purchases but isn’t selling its stockpile). Allison Rossi, Square’s global treasury lead, recently described details of the company’s $220 million investment—about 5% of its cash— to members of NeuGroup for Cash Investment 1.  Square allows…
Investment ManagementTechnology
May 13, 2021

Planning Ahead: What Role Will Cryptocurrency Play in Treasury?

As cryptocurrency takes flight, market maker B2C2 teams with NeuGroup to shine a light on this new world.More than half (52%) of the members at a recent NeuGroup meeting said they expect cryptocurrency to become a regular part of day-to-day treasury activity. To help get members up to speed, NeuGroup teamed with sponsor B2C2, a leading crypto liquidity provider, and other industry leaders. Rob Catalanello, CEO of B2C2 USA, said, “There is a pretty big groundswell of interest from the…
Cash & Working CapitalTechnology
May 6, 2021

In Search of a Cash Forecasting Model for Use Across the Enterprise

One corporate in search of simplicity opted for developing a solution in-house vs. using third-party vendors.An indispensable lesson from the pandemic is that revenues can drop unexpectedly and precipitously, and so cash forecasts must consider multiple scenarios and learn from the past. An assistant treasurer (AT) from a global industrial company explained at a recent NeuGroup meeting sponsored by Societe Generale how his company is improving cash forecasting with machine learning and other new technologies. A precise forecast was not…
Investment ManagementTechnology
April 29, 2021

What the Crypto Craze Means for Corporates Seeking Use Cases

Treasurers eye the value of Bitcoin and other digital assets as payment methods, investments and tech tools.The fast-paced, volatile and increasingly popular world of cryptocurrencies like Bitcoin and other digital assets is sparking interest, questions and a few concerns among finance and treasury professionals. Discussion at a recent NeuGroup meeting of assistant treasurers sponsored by Societe Generale pointed up how some corporates are approaching the decision about what role, if any, digital assets should play in their futures.Other members are…