https://treasuryxl.com/blog/upcoming-eu-regulations-impacting-corporate-payments/
Hi, please find in the article down below my takeaways from the Digital Finance Summit 2023 organized by Fintech Belgium on December 8, 2023. The organization was perfect and it was also an interesting networking opportunity.
https://treasuryxl.com/blog/update-digital-finance-summit-2023/
https://treasuryxl.com/blog/psd3-regulation-is-here-what-you-should-know/
https://treasuryxl.com/blog/rent-a-treasurer-6-vragen-aan-francois-de-witte-seasoned-treasury-professional/
Interesting article in the leading treasury magazine Treasury Today, where François De Witte, Senior Project Manager and Director, is quoted several times: https://lnkd.in/ep7N9GzE #embeddedfinance #embeddedpayments #transfer1
The European Union (EU) has made significant progress in implementing instant payment systems in recent years. However, while the potential benefits of this regulation are significant, the path to implementation will still be a challenge. François shares his view on this.
For more info: https://treasuryxl.com/blog/is-the-eu-market-ready-for-instant-payments/
https://treasuryxl.com/blog/embedded-finance-what-are-the-possibilities/
https://treasuryxl.com/blog/embedded-finance-explained-by-francois-de-witte/
What is embedded finance? What opportunities does it offer and what are the potential impacts on corporate treasury and payments? In this article written for TreasuryXL | The Treasury Community by François De Witte, Senior Project Manager and Member of the Board of Directors of Transfer1, find out more about this innovative solution that breaks the rules traditionally imposed by the financial services sector.
Number 1 is Corporate Governance and Treasury | Embrace the Corporate Treasury Policy by Francois De Witte
https://treasuryxl.com/blog/top-5-most-read-articles-at-treasuryxl-com-and-linkedin-of-2020/
With the COVID19 crisis, treasury management is of paramount importance. On 27/3 and 3/4/2020, I animated a webinar session on the subject summarizing some best practices and give some tips & tricks to weather these turbulent times. For more information: https://zoom.us/rec/play/75YrceCppzk3GtHDsASDCvJxW461Kqis0yVK_vANyUuxUXIHNFKhN7JAN-VIy2Wl-rTKNXQEiilhUig3?autoplay=true&startTime=158590834500
The responsibility for Treasury management within an organization lies with the board of directors. Due to the practicalities and technical aspects involved in corporate treasury, the board typically delegates the daily management of risk to the treasurer. For more information, go to the article which I published in February 2020: https://treasuryxl.com/blog/corporate-governance-and-treasury
In TreasuryXL (https://www.treasuryxl.com/news-articles/conference-toekomst-betalingsverkeer-recap/), you will find a recap on the conference, where I was moderator of a panel. I look forward to your thoughts on the developments in the payments area.
Congratulations to the 13 candidates having achieved the "Certified Path in International Treasury Management and Corporate Finance", organized in collaboration with ATEL, the Luxembourg Association of Corporate Treasurers. The Certificate award took place on 26/9/2019 at the House of Training in Luxembourg
https://lnkd.in/gEgcFWS
In any business transaction, there are risks. The Buyer wants to be sure to receive the goods or services before he makes the payment. On the other hand, the Seller wants to be sure to have his money before he releases the goods or deliver the services.
In my current company, SafeTrade Holdings, which deliver services linked to the domestic and cross-border sale of used vehicles, we were confronted with this problem, in particular for the cross-border sales of used vehicles. At the start, the parties - who do not know each other - do not trust each other. The Seller wants to make sure to get the cash payment at the end of the sale. The Buyer wishes to avoid a risky cash transfer and ensure that the vehicle matches his expectations and that the payment will only be released once the car has been delivered.
We have discussed with various providers in the market and have found one smart solution, the trusted payment, developed by Digiteal, a FinTech which is also a Payment Institution recognized by the National Bank of Belgium. In the article which I published today in TreasuryXL today, you will find an outline of this solution. Hereafter you have the link to the article: https://www.treasuryxl.com/news-articles/trusted-payments/
NEW TREASURY TRAINING PROGRAM IN LUXEMBOURG - treasuryXL No Comments | 19-2-2019 | François de Witte | treasuryXL | ATEL (Association of Luxembourg Corporate Treasurers), in cooperation with the House of Training (Chamber of Commerce of Luxembourg) has initiated a new in-depth treasury course adapted to the today's requirements of the Treasury Community. For more information, go to https://www.houseoftraining.lu/training/international-treasury-management-and-corporate-finance-4304
I have give a guest lecture on 21/12/2018. For more information hashtag#banking hashtag#eventing and and the registration, please go to www.vub.ac.be/events/2018/payment-services-directive-2-and-the-rts-on-strong-customer-authentication-and-secure. You can also go to https://www.vub.ac.be/leerstoel/stewardship-finance#stewardship--of-finance (events). The audience was very enthousiastic and we had a lively Q&A session
The payment is the act of paying money to someone or of being paid. Payment transactions (payables, disbursements) can traditionally be split along the way the way the money is transmitted. The most important transmission means are:
In a a first article on payments, published early November 2018 in TreasuryXL, you will find more information on the domestic bank transfers, including the current types payments, their advantages and the attention points, and some other concepts. For more information, please go to https://www.treasuryxl.com/news-articles/treasury-for-dummies-payments/
In June 2018, I published a Spring Update on PSD2 (Payment Service Directive 2). Since then, things have moved, and hence I found it the right moment to provide an update you on some developments PSD2 and open banking.
You can read the article through following link:https://www.treasuryxl.com/news-articles/psd-2-summer-2018-update/
For your information, I will be giving with Febelfin Academy a training on this topic. For more information, please to to https://www.febelfin-academy.be/nl/opleidingen/detail/psd2-and-the-open-banking-architecture-addressing-
For your information, I will give a one-day training on the subject at Febelfin Academy on 21/11/2018. For more information, please go to: https://www.febelfin-academy.be/nl/opleidingen/detail/psd2-and-the-open-banking-architecture-addressing-.
On 13/3/2018, I attended the 15th Universwiftnet Paris event, a one-day conference day to discover the recent tendencies in payments, banking connectivity and the relationship between corporates and banks. There were over 1.000 participants, and this was a good opportunity to have an immersion in the latest tendencies in treasury. In TreasuryXL, I published an article on some hot topics and takeaways: https://www.treasuryxl.com/news-articles/francois-de-witte/universwiftnet-paris-march-2018
Treasury for Non-Treasurers : Cash Pooling (publication in TreasuryXL on 01/02/2018)
The main objectives of the cash & liquidity management are to:
Optimize the return of the cash and/or minimize the cost of the short term financing
Minimize external financing by using internal funding
One of the most important techniques to achieve a better utilization of the available cash is the "cash pooling" or, in other words, the concentration of the cash to make it centrally available. The commonly used techniques in the market are the following:
Automated Cash Concentration: requires physical movement of funds
Notional Pooling: without movement of funds
In the article published in Treasuryxl (https://www.treasuryxl.com/news-articles/francois-de-witte/treasury-for-non-treasures-cash-pooling), you will find current types of cash management tools, their advantages and the attention points.
Fintech Belgium Summit 2017 - some findings
On 14/12/2017, Fintech Belgium organized the 2nd Fintech Belgium Summit, a one-day conference to discover the deep innovation, technological and societal impact FinTechs have on our world. There were over 500 participants, and this was a good opportunity to meet all the stakeholders in the Belgian Fintech ecosystem. In the link hereafter, you can read the full article: https://www.treasuryxl.com/news-articles/francois-de-witte/update-fintech-belgian-summit-2017/
In 2018, when PSD2 comes into force, banks will lose their monopoly on payment services and customer's account details. Bank customers will be able to use third-party providers (TPP) to administer their payments. When a customer agrees on using the services of a TPP, then their bank has to give access to TPPs to their accounts. TPPs are then able to build and offer services that compete with the existing bank services. During the summer 2017, I published a Summer Update on PSD2. Since then, a lot of things have moved, and hence I found it the right moment to provide an update to you on some developments on PSD2, in this area.
Down below, you will find the link to the article, including a quote on the Berlin Group Standards by Marc Lainez, CEO of Ibanity, part of Isabel Group
https://www.treasuryxl.com/news-articles/francois-de-witte/psd2-fall-update-new-developments/
Each year, during the summer, Cap Gemini publishes with BNP Paribas the World Payments Report, aiming at providing a preview in the global payments landscape. In the following I present you a short summary with what I consider the main findings. If you want to access the full report please click on this link.
The full article can be accessed on : https://www.treasuryxl.com/news-articles/francois-de-witte/cap-gemini-world-payments-report-2017
Dismiss
Early 2017, I published in TreasuryXL a post about PSD2, a lot of opportunities, but also big challenges. Last week, I have published in TreasuryXL an update on recent developments in this area. Down below, you will find a summary. You can the full article through following link: https://www.treasuryxl.com/news-articles/francois-de-witte/psd2-update-and-new-developments.
PSD2 still needs to be transposed in the national legal system of all the member countries, and according to my knowledge several countries, including Belgium, have not yet released the draft laws. This creates quite some uncertainty in the market, as there will be several country-specific specifications. Hence one can expect that Fintech's and other TPPs might already have started their certification application in countries that already enacted PSD2 in their local legislation.
PSD2 creates challenges. Several topics need to be clarified such as the RTS and the market players need also to agree on common standards for the interfaces. However, there are initiatives, such as the Berlin Group, the UK's Open Banking Framework and the STET group, which help give further clarity and direction in the absence of specific technical detail.
Consequently, there is no justifiable reason for any bank to delay starting these projects. The clock is ticking in the PSD race.
If you want further deepen this topic, you can join the 1 day training session on this topic, which I will give on 22/11/2017 at Febelfin Academy (https://www.febelfin-academy.be/fr/formations/detail/psd2-and-the-open-banking-architecture-preparing-f).
Published in July 2017 in Treasury XL
https://www.treasuryxl.com/news-articles/francois-de-witte/sepa-instant-payments-catalyst-new-developments-payments-market
https://www.treasuryxl.com/news-articles/francois-de-witte/sepa-instant-payments-a-catalyst-for-new-developments-in-the-payments-market-part-ii
On 29th June 2017, I atended a workshop organized by Fintech Belgium on how Instant Payments will push the financial sector to innovate. In this article, I would like to share some views on how Instant Payments will , in combination with PSD2, will be a game-changer in the market.
The new generation customer claims "I want it all, and I want it now". It is his anthem for having packages delivered, ordering food or finding a taxi driver. Payments are next, and they expect the financial industry to follow by offering real time or near real time experience.
As opposed to real-time payments with smartphones, transferring money between banks or cross-border payments often takes several days to be processed. For this reason, the EPC (European Payment Council) decided to introduce SCT Inst scheme: a real-time payment system where interbank transactions will be cleared within maximum 10 seconds at any time of the day and 365 days of the year.
There are several benefits this new payment method brings to the table, including a strong reduction of working capital trapped to fund operations.
However, in order to extract all the benefits, it is necessary to invest in developing the current tools further, so as to be able todeliver better customer service and create additional efficiencies in cash management.
Anyway, the SCT Inst will, in combination with PSD2 be a major game changer in the payments industry. It will be a disruptor in the current market, where cash, cards and online payment schemes still dominate.
It will also force the incumbent players to come up with new solutions, and in the end, we all, corporate, institutional or retail actors will benefit from this.
Scale is of paramount importance. Only if customers can be persuaded or pushed to use it, it will become economically viable on its own. However, it will take some years before the mass adoption will occur.
07/07/2017
Published on 7/7/207 in TreasuryXL
https://www.treasuryxl.com/news-articles/francois-de-witte/treasury-for-non-treasurers-cash-conversion-cycle-and-working-capital-management
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' 7-7-2017 ' François de Witte '
You might visit this site, being a treasury professional with years of experience in the field. However you could also be a student or a businessman wanting to know more details on the subject, or a reader in general, eager to learn something new. The 'Treasury for non-treasurers' series is for readers who want to understand what treasury is all about. Our expert François de Witte explains the cash conversion cycle and working capital managment.
In the fall of 2017, the Flemish training organisation SBM Opleidingen will start its first training program on Treasury & Working Capital Management. A second edition will take place in 2018. The program and the courses will be given in Dutch. It will be a good training opportunity for corporates and banks. Down below, you will find the link to the program. We look forward to welcome you there:
On 18/5/2017, I attended a seminar covering the topic "From Fintech to Regtech... from potentially disruptive to leaner compliance opportunities" organized by The Finance Club of Brussels, the Free University of Brussels (ULB), the Solvay Finance Society and Thomson Reuters.
Fintech describes a wide range of innovation in financial technology, going from payment systems to lending and trading platforms.
Fintechs are seen in many cases as potential disruptors of the traditional intermediation of heavily regulated banks and other financial institutions See also my articles on PSD2 further down.
However Fintechs can also be enablers, helping banks and financial institutions to streamline their regulatory reporting and compliance, or help the disruptors in coping more easily with compliance in the future.
Fintechs are playing an increasing role. The investments in Fintechs exceeded EUR 25 billion in 2016, and they bring a real digital revolution. Fintechs are perceived to foster the Digital Revolution, but equally to increase the digital divide in our society between the skilled and/or wealthy and those who are not.
Regulatory compliance is time-consuming and expensive for both financial institutions and regulators. The volume of information that parties must monitor and evaluate is enormous. The rules are often complex and difficult to understand and apply. There is a lot of data to be analyzed. Much of the process remains highly labor-intensive, or still depends heavily on manual inputs.
The Regtechs can be considered as an outgrowth of Fintec. Regtech use digital technologies- including big data analytics, cloud computing, robotics, behavioral analysis, blockchain technology and machine learning to facilitate regulatory compliance. Amongst other things, Regtech applications automate risk management and compliance processes, enable companies to stay aware of regulatory changes around the world, facilitate regulatory reporting and support strategic planning.
In recent years banks have seen opportunities to ask Fintechs to solve their large regulation and compliance issues. They can change the paradigm of banks from heavy IT releases to agile sprints, from integration to standardizing protocols, from static functions to workflows.
Hence financial institutions are more willing to consider using Fintechs for getting more efficiency. During the seminar, somebody of the panel mentioned: "Collaboration is the best innovation". Banks can also help Fintechs thanks to their experience in managing large databases, managing risks and providing the required critical mass.
We have seen some applications recently in areas such as the KYC (Know Your Customer) domain.
However, as mentioned during the seminar by Antonio Garcia Del Riego, Head of EU Corporate Affairs at Banco Santander, in Europe there remain obstacles in using Fintechs. The Bank Regulators in Europe expect the banks to deduct the goodwill from the core capital of the banks. This implies that software investments cannot be capitalized and need to be written off immediately in the P&L. A second challenge is the ability to attract digital talent, given the fact that the regulators limit the way in which the remuneration can be paid, whilst startups can be very creative here.
For the regulators, there also remain challenges. Once banks will have automated their reporting, the regulators will have to follow. They also will have to attract digital talent, to treat all these data in an automated way. If they do not succeed in this, they might challenge the use of Regtechs, and this is not what we want.
Regtechs can potentially offer similar benefits to regulators as they do to financial institutions. We recently observed that some (quite few) Regtech providers have emerged to serve the significant needs of regulators. There have seen recently some examples in Fintechs bringing behavioral models to the regulators, or new cognitive technology or the use of Blockchain technology (smart contracts), to trigger automatic alerts for the regulators when the banks exceed some thresholds.
Some regulators are taking initiatives to foster innovation. In 2016, the FCA (US) created its "regulatory sandbox," a space where financial services companies are encouraged to test new products without regulatory consequences. Recently the Australian Securities and Investment Commission also created its regulatory sandbox, suggested to establish a new regtech liaison group, comprising industry, technology firms, academics, consultancies, regulators and consumer bodies, and announced that it would host a Regtech hackathon later in 2017.
Other countries have also taken steps to support Fintech and Regtech innovation. The Monetary Authority of Singapore is in the process of developing a regulatory sandbox. We might expect other regulators to also take similar initiatives.
Thanks to their digital technology, Regtechs enable banks and other financial institutions to reduce the burden of compliance. However some steps need to be taken to create a level playing field and some topics will have to be clarified.
One can ask oneself the question how far these innovations can become game changers, awakenings for the banks, or even force them to more transparency and predictability towards regulators
The 'Treasury for dummies' series is for readers who want to understand what treasury is all about. In TreasuryXL, I have explained the short term loans from a treasury perspective, and in another article the difference between long term and short term debt.
For more information, see:
https://www.linkedin.com/pulse/treasury-dummies-short-term-loans-fra
treasuryXL
https://www.treasuryxl.com/news-articles/francois-de-witte/management-of-bank-mandates-ebam-a-lot-of-challenges/
' 19-4-2017 ' François de Witte '
Article ' PSD2: The implementation of PSD2: a lot of opportunities but also bijg challenges - Part II
In Treasury XL (https://www.treasuryxl.com/news-articles/psd-2-a-lot-of-opportunities-but-also-big-challenges-part-1), you will find my contribution on this topic.
Treasury Quick Scan - large savings potential- 2 more real life examples ' François De Witte ' Pulse ' LinkedIn
As I already informed you some weeks ago, I am member of the expert and of the Flex Treasurers community of TreasuryXL, an independent treasury platform. Some 2 weeks ago, the editor of TreasuryXL, Patrick Kunz and I wrote a first article on the treasury quick scan: https://www.treasuryxl.com/news-articles/treasury-working-capital-quick-scan-methodologie-voorbeelden-uit-de-praktijk. On 22/3/2017 we published a new article, outlining 2 more examples of the savings generated by the Treasury Quick Scan: https://www.treasuryxl.com/news-articles/flex-treasurer-besparing-na-een-treasury-quick-scan-nog-meer-praktijkvoorbeelden. The article is in Dutch, but down below, you will find the English version of the article.
The Treasury Quick scan is the first part of the FLEX Treasurer concept developed by Treasury Search and the Treasury XL platform (www.treasuryxl.com).
I am convinced that the concept of FLEX Treasurer has bright future, in particular for smaller organisations. If you consider these services, then you can contact Pieter de Kiewit pdk@de-kiewit.com - + 31 (06) 1111 9783. I am also at your full disposal to futher discuss this with you.
If you are entrepreneur or financial professional in a small or medium organization that has no dedicated treasurer or cash manager, you may question yourself if you have well organized all treasury tasks. Hiring a professional in these areas may be a step too far. But that does not mean you do not wish to save costs or that there are for example no possibilities to optimize the financing.
Have you ever thought about the possibility of hiring a FLEX Treasurer or performing a treasury quick scan ?
A couple of weeks ago, we already informed you about the concept of Flex Treasurersand the Treasury Quick Scan , which they can carry out for you.
In a previous article, we already presented you some practice examples. In the current article, we provide you 2 additional examples, which demonstrate that a Treasury Quick Scan can generate substantial savings.
Company C: International Trader in Food products
Turnover approximately 1 billion Euro
C is a trader in food products in the B2B market. Is world leader in its segment and active on all continents. Products are usually all priced in USD. C does not employ a treasurer, the financial manager fulfils these tasks in addition to his functions.
Company D: real estate company
Turnover approximately 125 million Euro.
Do you recognize one or more situations in your own organization? Do you have question on this topic ? Our experts are at your full disposal to further discuss this with you. They work as Flex Treasurer and are most willing to assist you further, also if you need to employ their services temporarily, for example after a treasury quick scan treasury (also on part time basis).
MORE INFORMATION
Do you wish to consider a treasury quick scan or to use the services of a Flex Treasurer or do you have other questions, or do you wish to join the Flex Treasurer community ?
Pieter de Kiewit is most willing to help you:
pdk@de-kiewit.com + 31 (06) 1111 9783
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As I already informed you some weeks ago, I am member of the expert and of the Flex Treasurers community of TreasuryXL, an independent treasury platform.
This week the editor of TreasuryXL, Patrick Kuntz and I wrote a first article on the treasury quick scan: https://www.treasuryxl.com/news-articles/treasury-working-capital-quick-scan-methodologie-voorbeelden-uit-de-praktijk.
The article is in Dutch, but down below, you will find the English version of the article. I am convinced that the concept of FLEX Treasurer has bright future, in particular for smaller organisations. If you consider these services, then you can contact Pieter de Kiewit pdk@de-kiewit.com - + 31 (06) 1111 9783. I am also at your full disposal to futher discuss this with you.
Treasury & Working Capital Quick Scan Methodology - Practical Examples of cost savings
If you are entrepreneurs or financial professional in a small or medium organization that has no dedicated treasurer or cash manager, you may question yourself if you have well organized all treasury functions. Hiring a professional in these areas may be a step too far. But that does not mean you do not wish to save costs or that there are for example no possibilities to optimize the financing.
Have you ever thought about the possibility of a treasury quick scan ?
We offer you the possibility to carry out this quick scan for you. An experienced hands-on treasurer makes a scan of your organization to see if it is worthwhile to invest in treasury. And often it appears that you can save a lot of money thanks to this quick scan, as illustrated in the following examples.
Company A: Production company in the packaging sector - Turnover in the 150 million euro range
Company B: Group owns a number of car dealerships - Turnover in the 175 million euros range
Do you recognize one or more situations in your own organization? Do you have question on this topic ? Our experts are at your full disposal to further discuss this with you. They work as Flex Treasurer and are most willing to assist you further, also if you need to employ their services temporarily, for example after a treasury quick scan treasury (also on part time basis).
Do you wish to consider a treasury quick scan or to use the services of a Flex Treasurer or do you have other questions, or do you wish to join the Flex Treasurer community ?
Pieter de Kiewit is most willing to help you:
pdk@de-kiewit.com
+ 31 (06) 1111 9783
Of course, you can also conctact me directly.
27/02/2017
treasuryXL
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' 27-2-2017 ' François de Witte '
As mentioned in my article "Treasury : proposed "to do" list for 2017", working capital management will remain a hot topic throughout the year. The first priority is to reduce the working capital needs and financial expenses by optimizing the Order to Cash cycle. In this article, we will develop a plan of approach and propose some concrete actions enabling to generate tangible savings.
The purpose of the Order to Cash optimization is to improve the whole cycle from the moment of the ordering of the goods or services, until the final payment, with the aim to:
When starting such a project, I recommend to have at first a quick scan of the overall Order to Cash process so as to identify the critical areas and to assess the business case. Based hereupon, one can then subdivide the project in a number of streams.
In such a project, typically the following processes should be covered:
Ordering processes:
It is important to have a client acceptance process (for me a must in the B2B) and a clear policy on the way orders are accepted. I recommend to only accept written orders. For nonstandard goods, we also need to examine if a prepayment is required before an order is accepted, so mitigate the risk in case that the client does not execute this obligations. It is also useful to check beforehand if the exposure on the client will not exceed the existing credit limits.
Current invoicing processes:
Ideally the sending of the invoice should coincides with the delivery of the goods or services. Furthermore it is important to have the invoices sent timely. These actions enable to reduce the "hidden DSO". Quite a lot of companies lose several days of easy working capital by neglecting this.
A good customer database is key, and in combination with the ERP, this enables an automation of the invoicing process. I recommend to use as much as possible e-invoicing, so as to reduce the costs and the postal delays.
Current credit management processes:
A formalized credit policy is a prerequisite. A number of solution providers offer solutions for the scorings of your clients, so as enable you to define the credit limits in function hereof. In some sectors this information can be enriched by market information. Of course, one need to ensure that sales staff comply with this and check beforehand that the credit terms have been duly approved. The credit manager needs to work hand in hand with the sales staff.
Current dispute management processes:
Prevention is important. For this reason, when ordering nonstandard goods, it is recommended to check beforehand the availability of the goods and the timing of the delivery, so as to manage the expectations of your clients. Throughout the process (from the order acceptance to the delivery and the invoicing) one should apply thee "first time right" so as to avoid disputes and litigation afterwards. Check also if some services and repairs are to be done under a maintenance contract or warranty, in which case they should be invoiced to other parties.
Current collection and credit control processes
It is important to have a well-organized credit control process enabling to send reminders quite soon after the due date (if possible the first reminder after 15 days). It can help to send to send to your clients some days before a gentle reminder of the forthcoming due invoices. Once the 2nd reminder has been sent, and provided that there is no dispute, it can be useful to block the delivery of goods and services to your client, so as to have an additional leverage, and to have the credit collectors should calling the clients to see why they do not pay, and agree with them on an action plan.
When the classic reminder and call actions do not succeed, involve also the sales department and consider first a final call by another person, before sending your clients to the debt recovery service or to the debt collection agency.
It is important to also ensure an automation of the processes, in particular if one has to address high volumes. If you cannot do it with your current systems, there exist good solutions in the market.
Reconciliation and allocation of incoming payments:
This is a big challenge for many companies. Make sure that your clients use the right payment instruments and payment messages, so as to facilitate the reconciliation process. Within the accounting department, incoming payments are not always allocated promptly, distorting the real accounts receivable outstanding. As a result, reminders can be sent unduly, leading to client dissatisfaction.
KPI's and Dashboards:
It is important to foresee KPI's for all the involved stakeholders, as well as incentives to ensure that everybody play the game. Dashboards should enable to remain in control and to monitor regularly a number of key indicators. An area of attention are the overdue receivables. A too high percentage of overdue receivables/total portfolio might be an indicator of possible uncollectable receivables and the need for write-offs.
An Order to Cash optimization program is complex and we need to address a number of issues such as :
By managing better the order to Cash Cycle, you can generate a lot of savings. This requires a global approach involving all the stakeholders. To be successful, an optimization requires a number of concrete process improvements, but also the buy-in of all parties involved. A good change management should ensure that the improvements are embedded in the organization, and smart dashboards will enable to monitor that one remains on track.
Technology can help to automate the processes, but do build first a business case and to not underestimate the effort.
It can be a long journey, but in the end, it is worth the effort.
François de Witte - Senior Consultant at FDW Consult
06/02/2017
treasuryXL
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' 6-2-2017 ' treasuryXL '
Op 19 januari hebben wij jullie op treasuryXL een nieuw concept gepresenteerd: de Flex Treasurer.
treasuryXL en Treasurer Search hebben de handen ineengeslagen om laagdrempelige en hoogwaardige expertise van ZZP'ers uit de treasury wereld te koppelen aan middelgrote en kleine ondernemingen die geen treasurer of cash manager in dienst hebben. Intussen kunnen wij jullie laten weten dat zich al een aantal experts hebben aangesloten bij dit nieuwe concept en er zijn een aantal nieuwe diensten bij gekomen. Graag presenteren wij de nieuwe diensten.
Heb je een goed overzicht van je liquiditeitspositie? Is er geen versnipperde cash- en kredietbenutting? Ben je onlangs geconfronteerd met liquiditeitsproblemen t.g.v. onverwachte uitgaven? Word je regelmatig geconfronteerd met manuele verwerking van betalingen? Ben je recent geconfronteerd met fraudegevallen? Is het aantrekken van de financiering een issue?
Een treasury expert kan je helpen in het vinden van de juiste antwoorden op deze vragen. Een Flex Treasurer kan ondersteuning bieden op tijdelijke basis, onder meer voor de volgende aspecten:
Heb je een goed zicht op de risico's die je bedrijf oploopt (o.m. valuta en renterisico) en op de impact hiervan op jouw bedrijf? Heb je een politiek in verband met de risicoafdekking? Heb je een zicht op de mogelijkheden om ze in te dekken? Koerswijzigingen in valuta en rente kunnen zeer vluchtig zijn en leiden tot onnodige extra kosten. Als je je wilt concentreren op je 'core business', zonder je zorgen te hoeven maken over bv. de EUR/USD wisselkoers of de Europese rente dan is het inhuren van een Flex Treasurer de ideale uitkomst. Hij kan de organisatie helpen eenvoudig en effectief de risico's af te dekken, alsmede te onderhandelen over betere spreidingen en lagere kosten bij uw bank.
Kamp je met een DSO (gemiddelde betalingstermijn klanten) die veel hoger is dan het sectorgemiddelde? Heb je een duidelijk afgelijnd acceptatieproces en een politiek voor de betaaltermijnen? Is je facturatieproces optimaal? Heb je een afgelijnde politiek voor de selectie en de betalingstermijnen aan je leveranciers? Heb je regelmatig incassoproblemen? Kamp je met wanbetalingen en afschrijvingen op je klantenportefeuille? Ondervind je regelmatig reconciliatieproblemen bij binnenkomende en uitgaande betalingen?
Een treasury & working capital management expert kan je helpen in het vinden van de juiste antwoorden op deze vragen en het optimaliseren van je werkkapitaalbeheer. Een Flex Treasurer kan ondersteuning bieden, onder meer voor de volgende aspecten:
In ons actieve netwerk zijn meerdere senior professionals te vinden die ondersteuning kunnen bieden bij deze drie nieuwe diensten en hier meer dan voldoende ervaring in hebben. Daarnaast kunnen zij ook ingezet worden als treasury coach, voor een treasury quickscan, of als iemand ondersteuning nodig heeft bij financiële instrumenten en derivaten. Overigens komen onze Flex Treasurers ook gedeeltelijk uit België, waardoor zij ook daar beschikbaar zijn.
Voor meer details over onze Flex Treasurers verwijzen wij jullie ook naar onze pagina 'Flex Treasurer'
Ga naar de Flex Treasurer
Alle Flex Treasurer zijn op korte termijn beschikbaar en kunnen ingehuurd worden voor specifieke projecten of op regelmatige basis. Neem voor meer informatie en mogelijkheden contact op met
Pieter de Kiewit via pdk@de-kiewit.com of + 31 (0) 6-11119783.
ShareShare Flex Treasurer - new concept developed by Treasurer Search in the NetherlandsArticle ' PSD2: The implementation of PSD2: a lot of opportunities but also bijg challenges - Part II
In Treasury XL (https://www.treasuryxl.com/news-articles/psd-2-a-lot-of-opportunities-but-also-big-challenges-part-1), you will find my contribution on this topic.
Article ' PSD2: The implementation of PSD2: a lot of opportunities but also bijg challenges - Part II
In Treasury XL (https://www.treasuryxl.com/news-articles/psd-2-a-lot-of-opportunities-but-also-big-challenges-part-1), you will find my contribution on this topic.
Article ' PSD2: The implementation of PSD2: a lot of opportunities but also bijg challenges - Part II
In Treasury XL (https://www.treasuryxl.com/news-articles/psd-2-a-lot-of-opportunities-but-also-big-challenges-part-1), you will find my contribution on this topic.
In Treasury XL, I published a contribution on this topic: https://www.treasuryxl.com/news-articles/working-capital-management-not-just-a-finance-issue/
We are glad to welcome you at our ATEL Christmas Conference sponsored by J.P. Morgan. This conference intends to review key questions and concerns corporations are facing these days. For more information please go to www.atel.lu
On 21/11/2016, I have given a half day session on International Treasury management to 45 studens of the Master in Financial Management Programme at the Vlerick Business School. There was a good interaction with the students. From my side, I realize some concepts, such as treasury, ERP and shared service centers, are not yet known in the audience.
On November 11, 2016, I attended the DACT Treasury Beurs. There were close to 500 participants sand over 30 exhibitors. During the morning, we had a very interesting workhop of Akzo Nobel, who recently implemented Visual Sign, the solution developed by Equity for the management of bank mandates. In the afternoon there were also interesting...
The first International Treasury Management Executive Masterclass took place at the Vlerick School from October 24 to October 26, 2016. There were 21 participants from different companies. There was a good mix of lectures and case studies. Although this was a pilot session, the overall evaluation was positive
