January 19, 2022

Eye-Opening: A Tech Treasurer Embraces APIs To See Cash in Real Time

A growing tech company connects with FinLync as it juggles cash, debt and a need to improve visibility.Real-time cash management made possible by wider adoption of APIs by banks has provided one tech treasurer the daily visibility into the company’s bank account balances that he craved for years. “This has become more important to us not just since Covid, but since tax reform in 2017 when we were sitting on a couple billion dollars offshore, like most tech companies,” he told peers…
Talking ShopTechnology
January 19, 2022

Talking Shop: The Status of Bloomberg Disaster Recovery Services

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] Member question: “We received a notice from Bloomberg that our Disaster Recovery (DR) service was ending on 12/31, but it seems they have kept it on for now. (I have not asked Bloomberg if they have extended due to Omicron.) “We are looking at adding additional licensees with the hybrid work environment.…
January 12, 2022

Automating Together: The Human Side of RPA

One member’s success with automating processes prioritized getting treasury team members on board.Most members attending a recent meeting of NeuGroup for European Treasury reported that they are at the early stages of implementing smart automation tools like AI and robotics to improve treasury operations. One member at an IT company who recently completed an intelligent process automation project emphasized that while the benefits may be significant, it will take employees time to get in the groove. The member worked with…
Cash & Working CapitalESGTechnology
January 4, 2022

NeuGroup’s Top Five 2021 Insights

Reassessing finance organizations under new leadership tops the list of 2021 insights.By Joseph NeuBefore we plunge full throttle into the new year, I wanted to distill what struck me as the key takeaways from 2021, our second year of accelerated change and pandemic-fueled challenges. 1. Questioning the way things have been done. The pandemic encouraged transformational thinking as many legacy business processes and delivery models did not perform well during lockdowns nor in a work-from-home environment. Covid-19 also sparked a new…
January 4, 2022

Moving Finance Beyond Resiliency in 2022 Amid the New New Normal

How to approach finance this year while addressing unknowns and going beyond best practice, toward innovation.By Nilly EssaidesIn 2021, finance organizations focused on building their companies’ capacity to withstand shocks and bounce back. They automated existing processes so they can be executed remotely and with fewer staff. They forecasted more frequently. They continued to pile up cash (see companion piece by NeuGroup founder and CEO Joseph Neu). They integrated planning activities and embraced scenario analysis to account for a lack of relevant…
ComplianceTalking ShopTechnology
January 3, 2022

Talking Shop: Use a TMS for Audit and Confirmation of Bank Accounts?

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] Member question: “Has anyone had success using their TMS for audit and confirmation of bank accounts? We are in the midst of our annual audit process. We have a number of accounts confirmed by Confirmation and the remaining have to be confirmed by treasury providing bank statements from bank portals. “We are…
December 15, 2021

Milestones of Automation on the Road to a Brighter Treasury Future

New technology such as RPA and data analytics help free up treasury staff to help the business meet strategic goals.Assistant treasurers (ATs) highlighted their teams’ milestones over the previous year at a recent NeuGroup meeting, with several citing the development of skills and capabilities that helped automate time-consuming tasks inside and outside treasury. Massive debt deals and prolonged adoptions of SAP systems ranked high on the list of major accomplishments for several ATs, whose hard work brought the projects to…
TechnologyTreasury Management
December 15, 2021

The Path to Treasury Value Creation: Automation as an Ally

Technology holds the key to treasury transformation. So how can people on treasury teams add value in the future?The strategic value that treasury teams provide to corporations depends in large part on the ability of finance leaders to adopt and adapt to technology that is transforming treasury while at the same time developing the skills and expanding the roles of the people on those teams. That takeaway surfaced during discussions on the future of treasury by Jean Furter, the treasurer of tech…
December 8, 2021

Connecting to Data to Drive Insights: Ed Barrie on Tech and Finance

The former treasurer of Tableau Software on what questions today’s treasurers need to ask before investing in tech solutions.In a treasury career that includes positions at Microsoft, Itron and Tableau Software—where he built treasury from scratch—Ed Barrie has made it his mission to dive deep into how corporate finance teams can better leverage technology to connect to data, analyze it and extract insights that drive strategic decisions. In the interview below with NeuGroup CEO Joseph Neu, Mr. Barrie does what…
Cash & Working CapitalTechnology
December 8, 2021

Cashing in on AI to Boost Accuracy in Forecasting Receivables

Danone North America took an overly manual process, added artificial intelligence, and now gets close to 100% accuracy. Cash collection during the pandemic has been a big issue for corporates, with many facing uncertainty and lower cash flows. That’s why cash forecasting, and one of its main components, receivables calculations, have become more important than ever. And it’s also why more companies are turning to automation and artificial intelligence (AI) to improve the accuracy of those forecasts. Fewer lumps and errors. At…