The benefits of an in-house bank are increasingly evident, but some treasury departments still hesitate to take the plunge. This article offers a step-by-step guide.
Currency management is only one of the key issues for Wacker Neuson’s treasury. Reliable, secure payments are the top priority of the groups treasurer.
Using spreadsheets is no longer a viable or suitable option for the treasury of a business that has grown so dynamically and operates globally, with 90 subsidiaries in over 110 countries.
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Treasuries should be centralised but also extend "strategic autonomy" to decentralised units because they need to be responsive and close to the customer, argues Richard Scase, author and business forecaster on global megatrends.
As the squeeze on banks intensifies, virtual accounts are a win-win by offering efficiencies and meeting the needs of their corporate clients.
Why corporates should consider the multi-currency virtual account (MCVA) - a bank-offered cash product which allows them to maintain foreign currency balances and affect cross-boarder transactions where a physical account doesn’t exist in the local currencies.
Market change is being thrust upon transaction banks at a pace so rapid that many struggle to adapt. Competition has spiked. Profitability has tanked. Compliance with regulation is suffocating investment. The era of open banking is here, threatening traditional business models. Many institutions find themselves struggling to meet the imperative to innovate, reinvent and survive.
Today, a treasury leader is viewed as a ‘sparring business partner’, expected to provide insight and advice on business strategy to their CFO. Malcolm Pape, Experian EMEA CFO, speaks to GTNews about how treasurers can bring more value to their CFOs.