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Technology

BankingCash & Working CapitalTechnology
October 20, 2020

Helping Treasury See Beneath the Payment Iceberg

TIS makes the case for treasury as gatekeeper of payment processes.Nearly half the members at a recent meeting of NeuGroup’s Global Cash and Banking Group (GCBG) said treasury at their companies is responsible for treasury payments only—not for, say, accounts payable (AP) or payroll. Just 15% of those surveyed said treasury completely owns payment processes and tools. Treasury Intelligence Solutions (TIS), sponsor of the meeting, made a case for making treasury the overall “gatekeeper” of all payment processes—with the help…
Justin Jones
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Cyber riskTechnology
October 15, 2020

Taking A Second Look: Corporates Reconsider Cryptocurrencies

Members share their curiosity about embracing cryptocurrency amid more regulation.Efforts by central banks and finance ministers to block the widespread use of digital currencies until strong regulation is in place—along with the emergence of new types of currencies—are leading some corporates to reconsider earlier decisions to avoid accepting cryptocurrencies as payment. That is among the takeaways from a discussion at a recent meeting of NeuGroup for Retail Treasury, sponsored by U.S. Bank, during which one member said her company, encouraged…
Justin Jones
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FXTechnology
October 8, 2020

Taking the Right Steps on the Road to Robotic Process Automation

A risk manager warns that RPA should not be used a Band-aid.One NeuGroup member recently described to peers the benefits and challenges of using robotic process automation (RPA) and robotic desktop automation (RDA), a form of RPA that requires humans to trigger an action performed by a bot. The member adopted automation to document trades his team previously input manually into its treasury management system (TMS), a time-consuming task that also introduces the possibility of human error. The new process, using software from UiPath, has…
Justin Jones
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COVID-19TechnologyTreasury Management
October 8, 2020

Tonic for Zoom Fatigue: Shorter Meetings—and a Day Without Them

NeuGroup Members discussed their approaches to making WFH situations more palatable.“Six hours on Zoom is like 10 hours in the office,” one treasurer of a mega-cap company said during a recent NeuGroup meeting (yes, a Zoom meeting), quantifying a feeling about the side effects of virtual meetings. Almost everyone who has been working from home for seven months knows what she means. At the same meeting, another treasurer said he is encouraging his team “not to book 30-minute calls, to…
Justin Jones
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Cash & Working CapitalTechnology
October 6, 2020

Transforming Treasury: The Power of a Data Warehouse and BI Tool

How one tech company is making use of better centralized data to improve forecasting. Better data makes for better forecasts, reporting and data analysis. At a recent NeuGroup meeting, one member of a large technology company’s treasury team described the results of a two-year project to create a global treasury data warehouse to raise its data game. The company’s vision: a centralized data repository with BI reporting that integrates and organizes bank statement, market, ERP and forecasting data.The benefits of warehouses: data…
Justin Jones
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COVID-19Technology
October 1, 2020

Sharing a Bloomberg Terminal From Home: How Long Will It Last?

Treasury teams relying on Bloomberg’s Disaster Recovery services face uncertainty. During the pandemic, many treasury teams accustomed to sharing a Bloomberg Terminal in the office have made the most of Bloomberg’s so-called Disaster Recovery services (DRS), which has allowed multiple users, working from home, to access a Terminal subscription from different computers.  The value of that access has some NeuGroup members worrying about the expiration of their company’s ability to activate DRS as some workers—but not all—return to offices. One member at a recent meeting of risk managers said using…
Justin Jones
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FXTechnology
September 24, 2020

Transforming Data Reporting and Analytics With a BI Tool

Qlik Sense has made one treasury risk manager’s team more efficient and nimble.A financial risk manager at a manufacturer with a decentralized global treasury told peers at a recent NeuGroup meeting that the self-service BI analytics platform Qlik Sense has transformed the company’s data reporting and analysis. A comprehensive report that used to take the member’s team several days to prepare can now be done in a matter of hours with Qlik Sense.“ impacts recommendations to leadership for currencies and…
Justin Jones
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Libor SOFRTechnology
September 24, 2020

Looking Beyond Libor: Engage Vendors, Expect Some Frustrations

Corporates preparing for a transition to SOFR may need to push some systems vendors.NeuGroup members appear to be making headway to transition floating-rate exposures to the secured overnight financing rate (SOFR) or an alternative Libor replacement. However, in a meeting in which two members detailed their preparations, a major concern arose about third-party vendors’ progress and the need to push them along.   Responding to polling questions during the meeting session, 70% said they have compared notes with peer companies about their…
Justin Jones
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FXTechnology
September 21, 2020

Risk Managers Face an Inflection Point Without a Clear Direction

Key takeaways from the FX Managers’ Peer Group 2 2020 H2 Meeting, sponsored by Societe Generale.   By Joseph Neu  NeuGroup’s second-half meeting season got off to a great start with the FX Managers’ Peer Group 2 last week. Here are some key takeaways:We are at an inflection point, but to what? It feels like we are at an inflection point that requires MNCs to adjust their FX hedging. The reasons include the economic impact of Covid-19 on business, early crisis concerns about liquidity pushing out liabilities, unprecedented monetary intervention…
Joseph Neu
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COVID-19TechnologyTreasury Management
September 8, 2020

Post-Labor Day Rethink: Reinventing Finance Teams and Redefining the Office

How should corporate finance and treasury roles adjust to extended remote work and further delay of in-person team interaction? By Joseph Neu NeuGroup exchanges with members about team (aka labor) performance during the Covid-19-induced work from home (WFH) period have been generally positive. Productivity has been good, even up, as team members take back time lost to commuting as they give up spontaneous communication and collaborative teaching moments.Sustainability is a concern, though, as WFH requires balancing work and home priorities…
Justin Jones
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