Dr. Matthias Heiden, ex-head of global treasury at SAP and now CFO at the firm, collected the Treasury Excellence award at EuroFinance 2014 in Budapest. SAP received the award for a long-running project that has revolutionised SAP’s financing strategy, external debt capability and introduced a revolving credit facility.
“SAP can now deal with uncertainty, unanticipated change and cater for dynamic growth,” said Heiden, explaining that they now have a EUR2bn float to deal with uncertainty or unanticipated changes, such as a lack of access to capital market or bank funding a la the 2007 credit crunch.
SAP also now has a revolving credit facility in order to fund its bid for growth via new product developments like its HANA addition to its ERP system or via acquisitions such as Sybase and more recently Ariba in the US. “This gives us greater flexibility,” explained Heiden.
You can find out further details on the SAP revolving credit facility and other SAP treasury changes via the
gtnews Awards 2014
The US money market fund reforms came into effect in 2016 and are already dramatically shaping US fund industry with investors flooding out of prime funds and into government securities. While the reforms are similar, they are not the same. GTNews interviews Yeng Bulter, global head of the cash business at State Street Global Advisors on the differences.
The top five sectors Asian fintech investors are interested in are data analytics, blockchain, lending, payments and regtech, according to Gary Hwa, EY regional managing partner.
On the third day of the Singapore Fintech Festival conference, there was a focus on specific applications of fintech innovation. One was trade finance, which is clearly is ripe for a revolution.
Kicking off day two of the Singapore Fintech Festival, Deloitte Chairman David Cruikshank said that fintech is significant for three reasons. First, customer expectations of services are higher than ever. Second, barriers to entry are lower than before. And finally, financial institutions (FIs) face a threat of what a competitor might do.