Technology

August 20, 2020

Smart Move: Deploying Artificial Intelligence to Manage Cash as Inventory

A member’s quest to improve cash visibility begins to bear fruit just as the crisis hits. “When there is a crisis, treasury becomes very important,” a member of the European Treasury Peer Group said at a recent meeting where he and a colleague shared their progress on a project to improve cash forecasting, in part by viewing cash as inventory to be optimized. Cash forecasting, a critical concern for treasury teams at all times, is especially important amid the extreme…

Justin Jones

Technology Treasury Management

August 18, 2020

Paying Employees On Demand Brings Both Benefits and Risks to Corporates

The gig economy and the pandemic are boosting interest in pay solutions that may present legal and regulatory issues.The pandemic and the gig economy are prompting traditional employers to explore their options for so-called on-demand pay services that put money in the hands of workers when they need it most. US Bank laid out the benefits and potential complications for corporates of some of these solutions at a recent meeting of the NeuGroup for Retail Treasury. Some basic background: Today’s…

Banking Cash & Working Capital Technology

August 18, 2020

Turning to Kyriba for Payments Helped One Treasury Centralize Operations

The benefits of using one TMS for treasury payments and retiring a homebuilt infrastructure. One member of NeuGroup’s Global Cash and Banking Group recently shared the benefits of using Kyriba as a payment factory that handles about 85% of his company’s treasury payments. The advantages boil down to saving time while improving controls, oversight, visibility and efficiency, he said.Ultimate goal. The treasury director said his company used Kyriba as a tool to achieve the primary goal of centralizing treasury operations…

August 13, 2020

DIY: Improved Cash Forecasting and Visibility With In-house Tools

A cash awareness culture results in better forecasting of future flows to support growth.Young tech companies thriving in the latter stages of a multi-year economic expansion when many investors had lots of cash to deploy can be forgiven for not always demonstrating disciplined cash preservation. “We are cash rich and our culture is not sensitive to cash,” as one member put it during a discussion of cash positioning and forecasting at a recent meeting of the Tech20 High Growth Edition.But…

FX Technology

August 13, 2020

Automating FX Trades: How Heavy a Lift?

Key takeaways from 360T from a NeuGroup Virtual Interactive Session Earlier this summer, technology provider 360T discussed some of the benefits of automating FX trades at a Virtual Interactive Session for NeuGroup members called “Demystifying Automated Trading Across the Trade Lifecycle.” Following are some takeaways as distilled by 360T about the technology lift involved in automating workflows and trade execution. Although some of the treasurers expressed optimism that automated trading solutions could help improve their FX workflow and execution, there was…

Banking Technology

August 11, 2020

Virtual Accounts Help Treasury and Accounting Bridge Multiple ERPs

The advantages of using virtual accounts for accounting and reconciliation across ERPs.A member at a recent NeuGroup meeting described his company’s pilot initiatives with its primary transaction banks in Europe to roll out virtual accounts (VAs). Treasury is doing the projects in partnership with accounting which are aimed at reducing the all-in cost of account reconciliation, cash application and account maintenance (estmated by the member at about $4,000 per account) while also improving liquidity access and management. Tangible benefits. The…

COVID-19 Cyber risk Technology

August 11, 2020

Cost-Cutting Corporates Need to Factor in ROI of Cybersecurity

Quantifying the value of cyber defenses as some companies look to cut costs amid COVID. Cybersecurity is a major concern for NeuGroup member companies, and the pandemic has forced them to pay more attention to the risks of having so many people in finance roles working from home as the push for accelerated automation and digitalization grows. At the same time, COVID-19 has also pushed companies to tighten their belts. But cutting spending on cyber defenses looks like a potentially costly…

August 11, 2020

Exploring Cashforce’s Forecasting Solution, Among Others

Bottoms-up, top-down, ERP or bank statements? During a recent discussion about cash forecasting at NeuGroup’s Global Cash and Banking Group, one member asked if any of her peers had done demos of solutions from Cashforce. Another member said his company had reached the point where Cashforce is “going to demo something” once an NDA is in place. “We have found them to be very open-minded,” the member said.That’s important because his company has decided it does not want a forecasting…

August 4, 2020

Cash is King, Especially If You Know Where It Is at All Times

Pinpointing where all your cash resides—and how much you have—depends on good technology.The COVID-19 crisis has highlighted the value of technology that allows treasury to know—in real time—how much cash is available and where it is. A recent virtual meeting of NeuGroup’s Tech20HG—for treasurers of high-growth tech companies—revealed that the technology that treasury teams use varies: The pre-meting survey of members showed that 45% of respondents do not have a treasury management system (TMS), compared to 55% that do.Those with a TMS…