Jul 18

Netting: a Viable Value Driver : How to save money and resources with a smart intercompany reconciliation process

The last two decades have seen treasurers graduate from haphazard data collectors to deliberate decision-makers. As their empowerment is inextricably linked to the triumph of the internet and the technology it affords, it comes as no surprise that most of them are curious about new developments and eager to partake in them. Yet, the convenience and value of automated intercompany reconciliation is still comparatively underappreciated and overlooked. According to an article published in Financial Management just a few years ago, the vast majority of US companies still reconcile their balance sheet accounts manually and forfeit the countless benefits yielded by a centralized, agreement-driven netting process enabled by today’s technology.

What is Netting?

At its most basic level...

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Jul 18

Payment Security across the Board with a Multi-bank TMS: Comparing treasuries with and without system support

Treasurers have a lot on their plate: managing risks, controlling cash, processing payments, reporting to various stakeholders and much more. That on its own would be enough. But over the last few years, internet attacks and payment fraud, which require companies to take protective measures, have increasingly been added to the mix. And once again you, as treasurer, are called upon to step in and steer the company clear of these threats. No doubt there are times when you are tempted to give up in the face of the multitude of complex tasks that confront you as a treasurer. And maybe you’re looking at system support as your lifeline.

My tip gleaned from more than eight years of experience advising international companies: if you are looking for support, look no...

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Jul 18

Your TMS Business Case, Part 2: Real-life examples of how companies successfully use a TMS - BELLIN success stories

Sometimes what works on paper and what works in real life can be worlds apart. Sometimes what separates them is a difficult journey. And sometimes all you need is the right role model. A few days ago, we outlined how finance departments can best convince management to invest in a TMS. Today, we introduce a few companies who have done just that, and who have successfully bridged the gap between theory and reality: this is how these BELLIN clients use their TMS in a way that makes the entire company more successful. Because who would be better placed to judge how specifically the TMS benefits the organization than the treasurer? Here is what they have to say – use their stories to back up your business case!

Filip Loveniers, Group Treasurer, Greenyard fresh holding BE: ...

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Jul 18

Your TMS Business Case, Part 1: Your guide to a successful business case for a treasury management system

With efficient, secure and transparent processes generating added value for the entire organization, investing in a fully integrated TMS is always the right decision. You and many other treasurers are fully aware of that. But how can you convince the rest of your company including your CFO that a fully integrated system is the way forward? How can you create a compelling TMS business plan? Which details should be considered? Here is how to ensure a winning TMS business case.

Obstacles and helpers:
How to turn stakeholders into TMS advocates

A fully integrated TMS has an impact on the entire organization. This is why it is imperative to get all stakeholders on board and make them advocates for your cause: your financial department, the IT team, accounting...

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Jun 18

TMS Consulting, Implementation and Support: How Providers Which Marry Team Spirit with a Range of In-depth Expertise Ensure Companies’ Lasting Success.

A few weeks ago on this blog, I posted an article entitled “The Marriage of System and Consulting” which explored how consultants can contribute to the success of a project before a TMS or treasury tool is selected. But what happens after the perfect solution is selected? In this post, I take a closer look at the next stage in the relationship between technology provider and customer. The system should provide the right long-term support through the various stages of a company’s development, from dynamic growth or mergers to spin-offs. However, there can be many pitfalls on the path from deciding on the system you want to successfully using it across the whole corporate group. There is a smart, tried and tested approach to ensuring that customers receive the best support possible at...

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