Latest Industry Sectors Articles
Asea Brown Boveri (ABB), the Switzerland-based power and automation technologies multinational, employs 150,000 worldwide and operates in around 100 countries. As Peter Gisler, its group vice president, head of export and trade finance, explains in this article, ABB had been operating a decentralised set of different trade finance solutions around its global network of subsidiaries and joint ventures. This meant no central visibility of the trade finance business, so the utilisation of bank credit facilities was very inefficient. Duplicating similar business processes was also expensive.
The need to move beyond using financial planning and analysis (FP&A) techniques for budgeting purposes and into real-time analytical approaches is becoming urgent believes Marc Lloyd, head of FP&A at Hermes Fund Managers - and his firm has responded. In this interview with gtnews he outlines his finance career, which began at British Rail before he entered the asset management field, and argues that better technology is needed to ensure the analysis aspect of the FP&A function is fully realised.
The 2008-09 global financial crisis triggered a reactive response - in the form of the Basel III capital adequacy regime and other regulation - to reduce the negative impact of any potential future crisis with similar characteristics. Banks are currently dealing with decreasing profit margins on their supply to credit to corporate clients, which to date remains the core business for many of them.
In this Q&A interview with gtnews, Mark Gerban, InnoGames’ head of payments, based in Hamburg, Germany, discusses the alternative payment methods that his games company uses and how they could help treasury. Deploying mobile m-payments and m-wallets, voice short codes, carrier billing, online and rich data alternative payment systems means that traceability, speed, convenience, cash management and oversight could all be improved - using lessons learnt from the games sector.