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Technology

TechnologyTreasury Management
February 24, 2022

Treasury Reimagined

Treasury must reinvent its role within finance or risk losing significant head count.By Nilly EssaidesTechnological advances and growth in the use of shared services centers (SSCs) are threatening to strip treasury of much of its operational activities. As automation supplants manual work and low-value activities migrate to SSCs, treasury may lose relevancy and staff. The tidal wave of digital transformation sweeping treasury means that smart automations like AI will replace current systems and the people who work with them.An existential threat.…
Justin Jones
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Cyber riskRisk ManagementTechnology
February 24, 2022

Spending to Save: Making a Case for Payments Fraud Prevention Tools

Turning to banks, internal auditors and ERM teams may help treasury teams overcome a dearth of fraud data.  Payments fraud schemes hit 74% of companies in 2020, and two-thirds of treasury and finance professionals blame the pandemic for some of the increase in fraud at their companies, according to an AFP survey. Whatever the causes, the problem has made tools that can prevent scams more important than ever. But some treasury teams in need of those solutions are hitting a…
Justin Jones
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Cash & Working CapitalTechnology
February 17, 2022

Accuracy and AI: A New Cash Forecasting Tool Proves Its Worth

HighRadius helps one company with thousands of projects and a complex revenue stream better forecast cash. A new tool to improve cash forecasting can be a tough sell to management, given the intangible returns. It becomes easier, however, if the solution improves accuracy by more than 50%, and even easier if the vendor contractually agrees to achieve a certain level of improvement or discontinue the relationship—no strings attached. “It’s very hard to put a dollar amount on the positive impact of…
Justin Jones
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TechnologyTreasury Management
February 10, 2022

Tight Labor Markets and Talent Development: A Treasury Disconnect?

The labor market is treasury’s top risk, but aligning talent with business needs is its No. 4 priority. Is that a problem? It may not shock anyone that treasurers say a tightening labor market is the top risk they face this year (see chart), according to the January 2022 NeuGroup Member Agenda Survey. More intriguing: the same treasurers rank aligning the skills of their team members with business needs just fourth among their top objectives. No. 1 on that list: collaborating…
Justin Jones
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Capital AllocationTechnology
February 3, 2022

Let’s Get More Strategic: Treasurers’ Top 2022 Priorities

A new NeuGroup survey reveals that treasurers are focused on driving company growth.Treasurers at the world’s leading companies are doubling down on their commitments to expand beyond traditional areas like liquidity management and spend more time in strategic zones. That’s among the key takeaways from the January 2022 NeuGroup Members Agenda Survey. In it, respondents picked their top three objectives from a list of 11. Their answers, shown in the chart above, reveal an emphasis on driving better enterprise financial…
Justin Jones
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TechnologyTreasury Management
January 31, 2022

A Treasurer’s Transformation: A Decade at Oracle to Fintech Venture Capital Investor

Former NeuGroup Tech20 member Eric Ball describes his transition from treasurer to VC investor and more in our debut podcast. Welcome to the inaugural edition of the NeuGroup Insights Podcast! We kick things off with former Oracle treasurer and Tech20 member Eric Ball, a longtime NeuGroup friend who is now general partner and co-founder of Impact Venture Capital—just one of numerous hats he wears. He’s also co-founder and chairman of capital markets startup CapConnect+, chairman of the special purpose acquisition…
Justin Jones
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TechnologyTreasury Management
January 26, 2022

Looking Forward: Five Thoughts on the Future of Treasury

Balancing efficiency and value, and managing people vs. technology, will be key priorities for finance in the future.By Joseph NeuProviding foresight on the future of treasury is always a crowd-pleaser with NeuGroup members. During sessions over the last few months, I had the privilege of sharing my current thoughts on the topic and hearing member reactions. A shared passion project. Most of these sessions (and more may be coming) have been done in partnership with Jean Furter, now treasurer of Poly,…
Justin Jones
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BankingTechnology
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…
Justin Jones
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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.…
Justin Jones
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Technology
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…
Justin Jones
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