May 16, 2021
FinLync Brings API Bank Connectivity to an ERP-Native App That Spans Editions and Instances
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Digital payment processor Square describes the details and nuances of its $220 million bitcoin investment.Square, the digital payments company, has generated headlines by investing significant sums in bitcoin—along with crypto heavyweights like MicroStrategy and Tesla (which on Wednesday said it will stop accepting bitcoin for purchases but isn’t selling its stockpile). Allison Rossi, Square’s global treasury lead, recently described details of the company’s $220 million investment—about 5% of its cash— to members of NeuGroup for Cash Investment 1. Square allows…
As cryptocurrency takes flight, market maker B2C2 teams with NeuGroup to shine a light on this new world.More than half (52%) of the members at a recent NeuGroup meeting said they expect cryptocurrency to become a regular part of day-to-day treasury activity. To help get members up to speed, NeuGroup teamed with sponsor B2C2, a leading crypto liquidity provider, and other industry leaders. Rob Catalanello, CEO of B2C2 USA, said, “There is a pretty big groundswell of interest from the…
One corporate in search of simplicity opted for developing a solution in-house vs. using third-party vendors.An indispensable lesson from the pandemic is that revenues can drop unexpectedly and precipitously, and so cash forecasts must consider multiple scenarios and learn from the past. An assistant treasurer (AT) from a global industrial company explained at a recent NeuGroup meeting how his company is improving cash forecasting with machine learning and other new technologies. A precise forecast was not the goal, but rather…
April 29, 2021
What the Crypto Craze Means for Corporates Seeking Use Cases
Treasurers eye the value of Bitcoin and other digital assets as payment methods, investments and tech tools.The fast-paced, volatile and increasingly popular world of cryptocurrencies like Bitcoin and other digital assets is sparking interest, questions and a few concerns among finance and treasury professionals. Discussion at a recent NeuGroup meeting of assistant treasurers pointed up how some corporates are approaching the decision about what role, if any, digital assets should play in their futures.Other members are grappling with more granular…
Treasurers at mid-cap corporates looking to use large-scale data analysis to enhance cash flow forecasting are finding colleagues hesitant.The advantages of using sophisticated data analysis in cash flow forecasting are clear to a growing number of treasurers intent on improving accuracy and eliminating human error. But implementing and executing a data-driven approach often requires collaboration with teams outside treasury, such as AR and credit collections—and some NeuGroup members are meeting resistance. Solid support from leadership and showing the benefits of…
Critics say traditional tools are inadequate for illustrating risk; one ERM member has found success modernizing them.Pity the poor risk heat map. This well-worn tool, traditionally used by ERM teams to provide a visual representation of the range of risks a corporate faces, is now an object of scorn for some risk managers, including NeuGroup members. “Heat maps must die,” one member said at a recent NeuGroup meeting for ERM heads, a sentiment echoed by a number of his peers.Also…
Member question 1 (payment platforms): “We are having discovery calls with FIS, TIS and Fides to understand their value propositions. “Our main pain points are having all sorts of e-banking portals, and arise when we onboard new entities (recently acquired) and penetrate new countries.“Anybody having any experiences with the vendors listed? And suggestions how to best select (did you RFP this business?).” Peer answer 1: “We have used TIS for some years now and are quite happy. They have a…
March 25, 2021
A Push in the Right Direction to Simplify Bank Fee Analysis
As bank fee statements slowly standardize, corporates and banks can work together to make the analysis process simpler.Analyzing bank fees to uncover outliers remains a thorn in the side of treasury teams—in no small part because the banks code their fees and transmit the files to corporates in many different ways. And while standardization is improving, companies should keep the pressure on banks to bring more clarity to the opaque world of bank fees. That was among the takeaways at…
March 25, 2021
A Goldman Risk Management Tool Flying Under the Radar
FX risk managers talk up a Goldman Sachs solution called Capital Markets Atlas to measure value at risk.To no one’s surprise, a recent meeting of NeuGroup FX risk managers included plenty of talk about well-known vendors of exposure identification solutions like FireApps and AtlasFX, FX trading platforms including FxAll and 360T, and a variety of ERPs and TMSs. But not everyone in the large virtual room had heard of a self-service tool from Goldman Sachs that some members are using…
Insight Feature
A New Money Market Platform Leverages JPMorgan’s Depth in Technology and Innovation
The abrupt stampede to safety in financial markets unleashed by COVID-19 in March 2020 created chaos and concern for investors, financial institutions and regulators. And it put extra scrutiny on the ability of digital solutions, systems and tools that underpin global trading, execution and settlement to serve and satisfy millions of financial professionals trying to do their jobs from home.
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