CS Lucas was awarded Excellence in Treasury Management Transformation at the 6th Annual CFO Innovation Awards on the implementation project with SMRT Corporation Ltd. I like to share the following email extract from CIO Innovation for their reasons behind the award.
Building your own TMS from scratch is a serious undertaking. Before you make a decision either way, it’s important to be clear on what you’re really getting yourself into – and whether it will reap the benefits you’re looking for. Read this article to help you decide whether this is right for your company or not.
Effective cash management is a vital component – perhaps the vital component – of a high performing treasury. We’re all looking for the perfect system to help reduce financial risk without ratcheting up costs…but using the right tools in the right way for your business is a delicate art.
Want to know the number one threat to the health of your organisation? Human errors. Yes, that’s right. When it comes to all kinds of potential threats, from online security to compliance, it’s less the hackers, thieves or cheats you have to worry about than the little accidents and mistakes that we all make from time to time.
The ever-expanding scope of treasury operations and risk management activities means that treasurers need to make multiple complex calculations, quickly and accurately, on a daily basis. In this blog post, we’ll talk you through the principles and methodology behind fee amortization. We’ll also give you some useful tools and resources to simplify the task and ease the burden in your company.
In any profession, keeping on top of the latest technologies, tools, skills and ideas is crucial for anyone looking to climb the ladder and scoop the best roles. But with corporate treasury job descriptions changing all the time, learning the top treasury management courses to take is more important than ever.
Webinar: Faster, Better, More Productive - How Best Practices in Bank Connectivity Streamline Your Business
Bank account reconciliation and payment processing have come on leaps and bounds in recent years. Treasurers have greater visibility, agility and control than ever before, helping them to manage liquidity, spot discrepancies, and free up time to focus on bigger, strategic projects. But - are you up to speed?
Treasury management technology has been exponentially advancing for decades. Your top priority now may be obsolete in the near future. Learn what's current and stay ahead of the game.
Presenting to the boss can be daunting for the rest of us, but for treasurers, there’s that extra pressure to explain the treasury operation thoroughly without boring them with technical details.
Knowing how much cash is in the organisation, where it is and how it needs to be managed to cover upcoming payments and upcoming financial and funding requirements is absolutely fundamental to any business.
Today’s treasurers have to keep up with seemingly endless change. 2015 alone saw 50,000 amends to regulations around the globe. Combine this with constantly evolving ways of doing business, the impact of growth and mergers, the need to integrate your activities across the organisation as well as with external obligations and partners and you have a seriously complicated job on your hands.
By the time you hand over the subscription fee for your TMS, you have to be sure it’s the right solution for you. That you can find your way around. That it works as promised. That you could genuinely roll it out company-wide in the timeframes you’ve agreed with your CFO. Choosing the right system can feel like a leap of faith, especially when you’re dealing with vendors that demand huge upfront costs or minimum commitments of 3-5 years.
TMS technology has come a long way. Gone are the days when set-up costs ruled out all but the Fortune 500. When you had to splash out on pricey in-house infrastructure to make it work. When you’d be waiting around for years before you started to see results. Today, a TMS can be implemented at incredible speed - and that’s crucial. Because when you bring your plans to the table, the question you’re guaranteed to hear is: how long will this take to get off the ground? It’s easy to see why.
Want to know the single most important factor in getting a new TMS off the ground without a hitch? It’s simple. Of course, defining your objectives, mapping out timelines, assigning responsibility, scheduling tests, analysing performance, troubleshooting teething problems… all of these things are essential.
SWIFT, the acronym for Society for Worldwide Interbank Financial Telecommunications, is no stranger to today's corporate finance practitioners. As the world's leading provider of secure financial messaging services, SWIFT is gaining popularity amongst corporates as a solution towards bank-agnosticism.
Webinar: Managing your Relationship with your Technology Supplier- Maximizing the value of your technology investment
Technology is crucial for the smooth and efficient running of your business. Managing the relationship with your technology supplier, from pre-contractual stage up to going live, is something corporates would want to get right- considering the significant cost and manpower involved in successfully implementing technology.
Treasury Management systems, no doubt, enable companies to manage treasury operations globally, efficiently. When correctly used, the benefits are immense. However, there is a risk that the system turns obsolete, if there is no complete buy-in from users.
Looking at the ubiquity of smart-phones and the high level of functionality available through apps, we are exploring how enterprise-systems may evolve.
Asia is booming, and it is not just Asian companies but also global companies with operations in Asia. Regular readers of Singapore’s leading daily business publication, The Business Times, will recall an article published earlier in July discussing survey results from PricewaterhouseCoopers’ inaugural Asian-focused treasury survey.
Recently, I had come across a 2011 article published by McKinsey and Company titled “Five steps to a more effective global treasury”. It found that nearly half of the companies surveyed with less than $10 billion in revenue still used spreadsheets as their primary treasury system.