Cash Management
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LATEST ARTICLES
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Market conditions have heightened concerns over the potential cost of failed securities settlement as the world’s largest financial market prepares to move to T+1.
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In a world of higher interest rates, economic uncertainties and data overload, corporate treasurers are turning to cutting-edge tools and strategies to predict and optimize their cash flows.
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Implementing real-time payments can have consequences for corporates who underestimate the impact of cash leaving their business more quickly. Even as solutions become cheaper to implement, corporates are being cautious.
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Proposed regulatory changes will not dull treasurers’ appetite for money-market funds, even if interest rates are cut more aggressively than expected.
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Many companies still ignore the contribution that properly resourced treasury teams make to corporate performance.
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Elevated inflation and interest rates have focused treasury attention on the importance of diversification, particularly for those with an environmental, social or governance focus.
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Standard Chartered’s corporate and institutional bank can increase its profitability even when rates fall, divisional head Simon Cooper tells Euromoney. After reaping the benefit of investments in cash management, he is now turning to the financial markets business, especially credit – reinforcing efforts to grow clients in Europe and the Americas.
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Competition for deposits is influencing pricing decisions on commercial loans. However, the major cash-management banks insist that they have maintained both deposit levels and lending rates.
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Transaction banks must help their corporate clients to make the best use of new technologies, but without burdening them with unsustainable IT spending commitments.
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Lack of standardization is one of the main reasons why API adoption has been slow in certain markets.
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Liquidity concerns and the search for yield are encouraging corporates to expand their roster of cash management service providers.
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The big cash management banks are confident that offering a wider range of services will enable them to maintain their market strength.
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Transaction banks are collaborating with ERP system vendors and other fintechs to maximise corporate use cases for ISO 20022.
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Securities finance practitioners are taking a mix of approaches to managing cash, funding and liquidity in a shortened settlement cycle.
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For decades, transaction banking was a profitable but largely ignored corner of the banking industry. Then Covid happened. Today, bank chiefs see it as critical to everything they do. Given the challenges ahead – collaborating with fintechs and embedding ESG principles in global supply chains – the revolution under way in this business is unstoppable.
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Growing treasury demand for advisory services from banks suggests that investment in predictive analytics applications at the latter is starting to bear fruit.
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Rising interest rates have driven demand for more efficient liquidity structures.
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Patents are a high-profile demonstration of a bank’s commitment to innovation, but they are not the only option for those looking to encourage new ways of thinking.
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As the treasury sector reflects on another eventful year, Euromoney looks at likely developments for the next 12 months.
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The leading transaction banks are taking a proactive approach to balancing the conflicting demands of chief financial officers – who are prioritizing cost reduction – and treasurers, who are focused on increasing operational efficiency.
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Geopolitical and economic turmoil has taken its toll on cash management strategies during 2022. Leading transaction banks emphasize the value of investment in technology as they navigate a choppy market environment.
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Rising interest rates and macroeconomic uncertainty mean that corporate cash balances are at very high levels.
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Smaller firms are expected to pull back on expenditure as recession risk rises.
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Simplicity remains the watchword for treasurers trying to increase returns on their cash reserves.
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Businesses are tying up cash in payroll that could be used to boost working capital.
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Patchy inter-company loan administration could leave corporates exposed to breaches of transfer pricing guidance.
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Artificial intelligence has revolutionized cash-flow forecasting at educational services provider Pearson.
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Euromoney speaks to Benjamin Seal, vice-president of treasury at US-based Cenveo, about how accurate cash forecasting has helped to address the supply-chain challenges posed by the global pandemic.
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Changing bank may sound stressful, but coupled with a change of financing strategy it has enabled packaging supplier Albéa Group to achieve substantial cost savings.
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Nicolas Cailly, head of payments and cash management at Societe Generale, is responsible for growing the French bank’s cash-management franchise. He tells Euromoney why the bank’s new treasury offering is a step forward for TMS implementation.
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Sustainable account allows corporates to measure the impact of the sustainable finance assets their deposits are referenced against.
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Gerard Tuinenburg, director systems, processes and transactional banking at Unilever treasury, explains how the company is improving its cash forecasting efficiency through enhanced use of treasury data.
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This year’s cash management survey sees banks looking beyond purely pandemic-related challenges to focus on sustainable finance and investment in technology.
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Widespread use of digital currencies will reshape the way liquidity is managed, but it will also force banks and corporates to move away from long-established practices.
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Societe Generale’s decision to launch a joint treasury management solution with Kyriba is just the latest example of banks and technology vendors collaborating to offer more sophisticated treasury functionality.
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Shell’s treasury department has provided the impetus for a dividend payment execution modernization programme that is saving the company millions of dollars every year through reduced FX exposure and lower bank fees.
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Digitalization may be a hot topic in the treasury world, but many financial institutions remain unconvinced that the benefits justify the cost and disruption involved in moving away from in-house servers or manual signatures.
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The ongoing market and economic impact of Covid-19 is likely to trigger a more active approach from corporates to their cash strategies.
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Banks are refining their sustainable cash-management offerings, seeking to align their corporate sustainability strategies to financing and treasury actions.
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Large-scale working from home has raised the spectre of internal fraud, and treasury departments are finding it harder to conduct effective investigations.
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Unpredictable receivables together with difficulty accessing traditional sources of liquidity have forced treasury teams to explore all possible sources of working capital during the coronavirus crisis.
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Defining the boundaries of accuracy is crucial to useable financial forecasts. Experts are, nevertheless, reluctant to advocate omitting data that has previously proved of no value.
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The mechanics of treasury forecasting have come under intense scrutiny during the last nine months as corporates seek to optimize their cash management.
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Corporates have much to gain from getting their subsidiary capital structures right. The key to success could lie in reducing complexity and prioritizing debt.
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Many corporates remain wary of virtual accounts – so what should treasurers be looking for when considering their options?
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Despite their benefits, virtual bank accounts have failed to gain traction with the world’s largest corporations.
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The digital dividend dominated the cash management market in 2020. Corporates responded well to those banks that digitalized the services they needed to stay afloat in the choppy waters of a global pandemic.
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How one US health-insurance plan looked after itself and the providers its policyholders rely on when routine treatment demand started to dry up.
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A quick reaction to warning signs in Asia meant Atlantic Natural Foods was better positioned than some to deal with Covid-19 – but it still needed flexibility from its bank
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A trend that was already under way is set to accelerate as companies realise the importance of better oversight of day-to-day financials.
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Retrenchment from peripheral markets has been a trend for the past 10 years – but banks are now rediscovering the benefit of geographical diversification in transaction banking.
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Even though this business is notoriously sticky, Goldman Sachs’ entry into cash management business could shake up the industry.
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Aggressive accounting is as old as balance sheets, so why are we always surprised when inaccurate or bad-faith accounting causes companies to falter or even fail? Why is the dark side of accounting so hard to illuminate?
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There are only two truly global, fully fledged cash management banks today, but the digital arms race in transaction services gives far more banks the opportunity to be world class.
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Changes to the US corporate tax code are aimed at driving more onshore investment. For treasurers, this will mean reassessing their current global cash management structures.
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Regulations intended to make the correspondent banking network safer have stifled the ability to operate, say bankers. Yet the need for the service continues and requires new ways of thinking.
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Asia’s disparate markets and economies have found common ground in the widespread adoption of digital technology. Starting with consumer clients, expectations are rising up the banking chain and banks need to keep pace.
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At first glance Euromoney’s global cash management survey 2017 results suggest that it is business as usual, but digging a little deeper into the rankings reveals that some regionals are setting new standards in quality of service.
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A focus on clients with a strong connection to Switzerland allows the bank to forge particularly close relationships and deliver a quality service.
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The bank has come a long way in the GTS business in a short time – it took the top spot in Japan last year, and the last 12 months have been about establishing itself in the rest of Asia.