BankingTalking Shop
November 3, 2022

Talking Shop: Verifying Payment Instructions for Vendors

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: “What does your company do to verify payment instructions for new vendors and changes in instructions for an existing vendor?” Peer answer 1: “Our organization spends a significant amount of time validating changing or new banking information via phone calls. We are in the process of rolling out a service offered through…
Cash & Working Capital
October 27, 2022

Crunch Time: A Rising Emphasis on Cash Forecasting Accuracy

Management is putting greater focus on cash forecasting accuracy. Some in treasury wonder whether the extra work is worth it. After a decade of cheap money, liquidity is once again at a premium. Because it costs more to borrow, and pays more to invest, treasuries are under pressure to improve cash forecasting accuracy. In this environment, “treasury has three important mandates: don’t run out of cash, don’t run out of cash and don’t run out of cash,” one member said. “From…
Cash & Working CapitalTechnology
August 11, 2022

Better Accuracy, Smarter Insights: Digging Into NeuGroup’s Cash Forecasting Survey

Members benchmark and share approaches to making forecasts more accurate and more valuable. A recent debriefing session analyzing the results of NeuGroup’s May 2022 Cash Forecasting Survey made clear that beyond discussions of methodology, accuracy, technology and the effort required, lies this fact: Treasury needs to clearly define the purpose of a cash forecast and identify the audience who will use it to make decisions that help meet strategic goals. In other words, if the information in a forecast is…
Cash & Working CapitalTechnology
July 14, 2022

Cash Never Lies—but Data May Not Tell the Whole Truth

More than two-thirds of respondents to a NeuGroup survey ranked the difficulty of producing the cash flow forecast at 6 or above on a scale of 1-10. Rising rates and a slower economy present treasury with a challenge and an opportunity. The challenge is safeguarding the company’s liquidity. The opportunity is investing excess cash to earn higher yields. In both cases, treasury teams must have a line of sight into how much cash is on hand, and how much more…
Accounting & DisclosureTalking Shop
June 2, 2022

Talking Shop: FBAR Annual Reporting Requirements

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: “Do you know if companies need to report all ‘signers’ of foreign bank accounts or all ‘payment approvers’ to the IRS each year for FBAR (Report of Foreign Bank and Financial Accounts) purposes?” Peer answer 1: “We interpret the FBAR authorized individual to be any employee known to the bank that can direct the…
ESGThe NeuGroup Insights Interview
May 20, 2022

NeuGroup’s Strategic Finance Lab Podcast, Episode 4: ESG Investing: An Interview with Marina Severinovsky of Schroders

Step into a lab where innovation and digital transformation empower senior finance executives to become true strategic partners. Investors who don’t acknowledge that countries and companies are decarbonizing as they commit to net-zero emission goals will find themselves on the “wrong end of a massive flow of capital.” That pragmatic approach to sustainable investing is among the insights you’ll hear in this podcast featuring Marina Severinovsky, Head of Sustainability for North America at Schroders. In an interview with Nilly Essaides,…
Cash & Working CapitalTalking Shop
May 19, 2022

Talking Shop: Payments to Support Relocation for Russian Nationals

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: “As a result of the ongoing crisis in Ukraine, we have Russian national employees based in Russia who are looking to relocate and effectively become employees of our Dutch entity. Because of the restrictions on getting cash out of the country from employees’ personal bank accounts, we’re looking to support…
BankingRegional
May 12, 2022

Russia Reality: Paying Taxes to Shield Staff From Criminal Liability

Fear of criminal liability motivates corporates to pay taxes in Russia—but banks are rejecting some tax payments. The threat of criminal prosecution of their employees in Russia is one reason some US-based companies continue to make tax payments in Russia. Meanwhile, several US companies report that Russian tax payments made by entities outside the US have been rejected by a US-based bank. These takeaways emerged at the most recent NeuGroup session where members discuss the challenges facing finance teams at…
Capital MarketsCash Investments
May 5, 2022

Benchmarking Investment Strategies in a Rising Rate Environment

Higher rates mean higher yields, but 70% of respondents to a recent NeuGroup survey conducted with Clearwater Analytics do not intend to extend duration. Surging inflation, a hawkish Fed and talk of a recession are prompting corporate treasuries to reevaluate their cash investment strategies. However, 70% of respondents to a NeuGroup survey conducted in partnership with Clearwater Analytics, Going Out the Yield Curve: Benchmarking Investment Strategies, report they do not intend to extend duration to take advantage of the uptick…
Senior ExecutiveTechnology
April 21, 2022

AI-Enabled Analytics Drives Faster, Better Decision-Making

Author Larry Maisel says advanced analytics fueled by AI helps finance teams explain why something happened, what may happen next and what action to take to prepare for it.NeuGroup managing director Nilly Essaides recently interviewed Larry Maisel, an analytics expert and president of DecisionVu, about his recently published book, AI-Enabled Analytics: A Roadmap for Becoming an Analytics Powerhouse. The book, co-authored with Robert J. Zwerling and Jesper H. Sorensen, focuses on how to leverage advanced analytics to drive unbiased and…