Is this you? As a journalist, you can create a free Muck Rack account to customize your profile, list your contact preferences, and upload a portfolio of your best work.
Claim your profile
Articles by Ben Poole
Are the Days of the TMS Finally Numbered? | Treasury Management International
Once the new kid on the treasury technology block, the TMS concept is now in its fourth decade. While, for some, it remains the pinnacle of technology and treasury process in perfect harmony, certain TMS offerings sit on legacy stacks that cannot capture the full potential of AI and automation. This is compounded by alternative options for treasurers that could be more cost-effective and simpler to implement.
C’est Magnifique!
Revolutionising French Social Security with a TMS Managing an entire country’s social security contributions is a major responsibility and a complicated task. France’s URSSAF Caisse Nationale has overhauled its tech infrastructure to implement a new TMS to remove complexities from its cash management and drive greater efficiencies in its payment processes.
Connecting the Globe
A New Era for B2B Cross-Border Payments While an array of real-time, data-rich domestic payment schemes have been launched globally in recent years, cross-border payments have remained frustratingly inconsistent. Payments pioneer Visa aims to change that through the growth of its Visa B2B Connect network. In the intricate web of global commerce, cross-border payments serve as the lifeblood of multinational corporations, facilitating trade and fostering economic growth.
Embracing Diversification with MMFs | Treasury Management International
Money market funds (MMFs) are a vital element of a treasurer’s short-term investment toolkit. The security, liquidity, and yield offered by MMFs enable treasurers to look beyond bank deposits, while ESG MMFs can help support broader sustainability goals. MMFs have long been a popular instrument for corporate treasurers to invest surplus cash. A critical reason for this is that the funds offer diversification and daily liquidity without notice.
A Curious Mind and an Indelible Legacy
My Life in Treasury: Francis De Roeck Francis De Roeck has played a vital role in the European payments story, helping to create SEPA’s ISO 20022 messaging standard, the European Payments Council rule books, and BNP Paribas’ direct debit mandate management system, among many other initiatives. As he prepares to retire from the bank, De Roeck looks back on his career, discusses how curiosity is vital for innovation, and reveals his future plans to TMI.
Risky Business - Treasury Management International
Following a year of economic growth concerns, sticky core inflation, increasing interest rates, and a rash of bank failures, treasurers have been acting as corporate risk firefighters, mitigating the impact of tumultuous events on their organisations’ bottom lines. The past 18 months have seen the global economy enter an environment of stagflation, high inflation, low growth, and high interest rates.
All Change?
Innovation in Trade Finance With the fallout from the global pandemic, geopolitical tensions, and soaring inflation and interest rates, the international trade and SCF ecosystem has faced a torrid few years. The good news is that certain new technologies and innovations from fintechs and banks, combined with legal progress, promise more efficient and cost-effective trade finance for corporates and their suppliers.
Instant Growth - Treasury Management International
Having launched almost six years ago, the SEPA Instant Credit Transfer is starting to hit its stride with an increased transaction limit helping to encourage usage. For corporates operating in the SEPA zone, the scheme is not without flaws, but initiatives from regulators and banks point to a more functional and secure future.
AI in Treasury
Welcoming the New Co-Worker This article forms part of TMI’s new Guide to AI in Treasury. Sign up here to receive your complimentary copy once it is published. AI is transforming corporate treasury and enabling data-driven decision-making. From cash forecasting to risk management, AI-powered solutions are reshaping treasury practices, empowering organisations to drive growth, and optimise working capital.
FX and International Payments | Treasury Management International
Solving the Conundrum With more and more businesses operating internationally, FX risk management continues to be one of the most vital treasury tasks. After all, failure to correctly monitor and mitigate potential currency-related pitfalls may cause significant headaches for treasurers, senior management, and shareholders.
Tapping Today’s Hottest Payments Innovations to Reap Business and Treasury Benefits | Treasury Management International
Technology, shifting consumer behaviour, new business models, and regulatory initiatives are propelling dramatic changes across the entire payments ecosystem. For corporate treasurers, successfully adapting to this changing world – whether it be embracing variable recurring payments, leveraging APIs, or harnessing the power of open banking – provides a wealth of business opportunities.
Let’s Get Digital! | Treasury Management International
Get Prepared for Mandatory E-Invoicing With countries across Europe rolling out mandatory e-invoicing legislation, several of which are aimed at B2B payments, treasurers and finance transformation teams must be ready for a significant transition in how they make and receive payments. E-invoicing offers many benefits for corporate buyers and their suppliers.
Dream Big! - Treasury Management International
Transforming Treasury at C. H. Robinson The treasury team at global logistics giant C. H. Robinson set out to reinvent its cash and liquidity management structure within Europe. To do so, they enlisted BNP Paribas for a strategy focused on automation and process efficiencies across key European treasury activities. C.H. Robinson Worldwide is one of the largest global logistics companies, providing multimodal transportation and logistics solutions using technology tools it develops in-house.
The Critical SCF Trends Shaping Corporate Supply Chains | Treasury Management International
Following a deluge of shocks to global supply chains, treasurers are searching for ways to build greater resiliency into their supplier relationships. SCF, enabled by progressive regulation and digital tools, offers benefits to both corporate buyers and their supplier base.
Cloud and Proud! | Treasury Management International
Time to Dream Big on TMSs Cloud-based treasury systems can offer a flexible, scalable, and affordable option for treasurers to drive digitalisation of the function irrespective of businesses size. To take advantage of this innovation, being able to differentiate the various offerings is crucial. Perhaps the biggest democratisation of treasury technology has been driven by cloud services.
Time Flies so be the Pilot | Treasury Management International
Automating Centralised Treasury Processes Banking software giant Temenos tasked Cobase with devising a better system for the management of its global bank relationships, cash, and FX. The results have slashed manual processes and reliance on spreadsheets, saving the treasury team vital hours in the day. Temenos offers banking software solutions to financial institutions across the industry from Tier 1 banks to the smallest institutions worldwide.
All Systems Go! - Treasury Management International
How to Ace Treasury Technology Selection and Implementation Treasury technology has come on leaps and bounds in recent years with flexible and affordable options putting greater levels of automation, efficiency, and control into the hands of treasurers. To take full advantage of these developments, treasurers should create a robust project plan for choosing and implementing a system. Today’s treasury technology landscape is brimming with innovation – especially in the payments space.
Reasons to Be Cheerful: Treasury Short-Term Investments in 2023 | Treasury Management International
This year has seen the short-term investment norms of the past decade being ripped up with surging inflation and soaring interest rates taking centre stage. While this has caused particular challenges for treasurers, new opportunities to maximise results from excess cash have emerged as 2023 approaches. The short-term investment space has witnessed both volatility and an upward momentum over the past year.
Closing in on Payments Nirvana | Treasury Management International
Instant Cross-border Treasury Transactions While domestic faster payments schemes have seen excellent traction over the past decade, obtaining the same visibility and control of cash flows in the cross-border world has been far more challenging. This is now changing, however, as consumer pressure, regulation, and technology propel the prospect of a real-time cross-border payments ecosystem closer to reality.
Turning Cross-Border Payments from a Burden to a Benefit | Treasury Management International
Foreign exchange and cross-border payments can struggle to meet the needs of businesses and payments providers in today’s rapidly-changing and highly competitive global market. Livia Benisty, Chief Business Officer, Banking Circle explores the current offering and limitations, and what steps PSPs and banks can take to deliver cross-border payments as an added value service.
Roche’s Breakthrough for Cash Pooling in Saudi Arabia | Treasury Management International
Keen to support a recently opened affiliate in Saudi Arabia, Roche’s group treasury worked with BNP Paribas and the local regulator to successfully implement a first-of-its-kind cash pooling solution in the country. Headquartered in Switzerland, Roche is the world’s largest biotechnology company and an in vitro diagnostics (IVDs) market leader. The company’s corporate treasury is fully centralised in Basel, supporting the enterprise’s global business activities.
Unleashing automation to unlock visibility, control, and efficiency in liquidity management
Celebrating its 150th anniversary this year, Zurich Insurance Group (Zurich) is a global multiline insurer with around 55,000 employees. It provides a suite of insurance products and services to a range of customers in more than 215 countries and territories. With a market capitalization of CHF60.0bn (US$65.38bn) in 2021 and a recently announced 2021 business operating profit of US$5.7bn, Zurich is entering its next 150 years on a solid footing.
NFTs in Treasury?: Establishing Use Cases in Trade Finance and Beyond | Treasury Management International
Home Trade Finance Trade Finance The world’s first trade finance-based non-fungible token transaction in 2021 highlights the need for treasurers to understand the technology behind tokenisation and the practical implications that it could have for corporate finance. Non-fungible tokens (NFTs) have gained quite the reputation in the past year.
How Suitable are Crypto Assets as a Treasury Investment?
Corporates have started putting Bitcoin on the balance sheet. Central banks are pursuing their own digital currencies. The rise of cryptocurrencies is happening at a startling pace and will have a variety of impacts. Now is the time for treasurers to educate themselves and their businesses about the complex changes ahead, something explored in a recent TMI and Diginex webinar.
Generating treasury transformation from within
Significant additional budget is not always necessary when implementing a treasury transformation plan. HP’s treasury provides a good example of how to create efficiencies and savings by addressing treasury structure and processes simultaneously. These efforts are now delivering proven financial results as a result of HP’s treasury transformation project.
Reinventing the banking business model for the digital world
With rapidly changing consumer spending trends, the rise of e-commerce, and the growth and success of both fintechs and big technology companies in the financial services space, the banking industry needs to innovate and adapt quickly to remain relevant. Digital demand soars Perhaps the biggest trend in financial services, is the digitisation of the economy. As more digital services are offered, consumers and users of those services are increasingly driving the uptake of such services.
The evolving European payments landscape
Transaction speeds are increasing. Faster payments rails and instant transaction policies are being rolled out across the world, particularly so in Europe. Key to this change in the payments landscape is the change in consumer behaviour, driven by mobile and digital channels and the growth of e-commerce.
Reassessing cash flow forecasting in a crisis
Reassessing cash flow forecasting in a crisis The pandemic exerted a variety of pressure on corporate cash forecasting processes. Some firms required a complete forecasting overhaul to cope, while others that were less affected could fine tune their operations. by Ben Poole Published: 24 November 2020 The Covid-19 pandemic forced treasurers in some sectors into battle mode in order to slow the cash burn that many organisations experienced.
Covid refund wave floods payments systems
Payments Covid refund wave floods payments systems What do you do when millions of dollars in payments made to your company need to be refunded en masse? That was the unprecedented challenge that corporate treasurers in the travel sector faced this year as a result of Covid-19. by Ben Poole Published: 27 October 2020 One of the major financial side effects of the Covid-19 global pandemic has been the extraordinary reversal of payment flows faced by all areas of the travel sector.
The eye of the storm
The eye of the storm A new elite of battle-tested treasurer has been forged in the sectors worst hit by the pandemic. by Ben Poole Published: 13 October 2020 Treasurers in industries particularly impacted by Covid-19 – such as the aviation, travel, and oil sectors – have overcome significant adversity to secure the very survival of their businesses. When securing precious liquidity from skittish bank counterparties, boldness is everything.
As Easy As KYC: SWIFT and Seamless Corporate Banking
As Easy As KYC: SWIFT and Seamless Corporate Banking Jimmy Zhang, Corporate Banking Manager, Pepper Financial Services Group As Easy As KYC: SWIFT and Seamless Corporate Banking By Ben Poole, Columnist, TMI Complying with the know your customer (KYC) aspect of bank account opening and management has long been a burden for corporate treasurers. For Pepper Group, early access to SWIFT’s KYC Registry has helped bring a number of efficiencies to this process.
A Bounce in Treasury’s Step
A Bounce in Treasury’s Step Ryan Wiener, Global Head of Strategic Marketing, Corrie MacColl Capitalising on a proven commitment to esg, rubber industry giant Corrie MacColl recently obtained a unique sustainability-linked loan. Ryan Wiener, the company’s Global Head of Strategic Marketing, explains how the criteria of the loan were agreed, and how the choice of banking partner was made.
Smart forecasting in the spotlight
Smart forecasting in the spotlight With Covid-19 shuttering workplaces and tanking economies, the core treasury skill of cash flow forecasting has been under intense scrutiny. Corporates have faced different industry-specific challenges in their forecasting, with different tools at their disposal to help manage this.
A sting in the tail
A sting in the tail Tail risk has emerged as an overlooked pain in corporate FX management during the current crisis. by Ben Poole Published: 10 August 2020 Before the Covid-19 pandemic disrupted economies and supply chains across the world, treasurers judged that hedging emerging market FX exposure was often not worth the expense. Now, tail risk is back with a vengeance and corporates that had up to now not hedged these currencies are reevaluating their risk models accordingly.
When the going gets tough
When the going gets tough After the pandemic sent shockwaves through funding markets in March, corporates scrambled to secure liquidity, while some partner banks proved to be fair-weather friends. Treasurers survived by deft tactical footwork, while learning to craft a longer-term narrative that reassured investors, unlocking a spigot of cash.
Flying High with Sustainable Finance
Flying High with Sustainable Finance Ben Poole, Columnist Flying High with Sustainable Finance By Ben Poole, Columnist, TMI A desire to expand its Abu Dhabi-based Eco-Residence for cabin crew led Etihad to become the first airline globally, and the first business in the United Arab Emirates (UAE), to raise funding tied to the UN Sustainable Development Goals (SDGs).
Expect the unexpected
The fallout from the Covid-19 global pandemic is being felt across the breadth of treasury operations, in both expected and unexpected ways. Facing potential hits to revenues, treasurers have compressed forecasting timescales to maintain working capital, and have been reviewing short-term investments to ensure they don’t lose access to liquidity. As with the last crisis, money market funds that invest in riskier assets have seen rapid outflows as treasurers become more risk-averse.
Testing the limits of FX risk management
Faced with a number of volatile markets across the continent, FX risk management in Africa requires treasurers to be proactive and flexible. “We’ve got quite a robust hedging model, where we effectively analyse the cost of hedging in our markets, look at what instruments are available, and establish how that aligns with our business plan” says Jan Beukes, Group Treasurer of subscription TV company MultiChoice.
Wrestling with the future
Tackling treasury conservatism Treasurers naturally have an aversion to risk. This is understandable when it comes to preserving a company’s capital, but can also sometimes colour judgement when assessing new digital vendors and non-traditional third parties for technology needs.
Making debt pay - EuroFinance | The global treasury community
For investment grade corporations, low or negative interest rates represent a boon for debt issuance. Even companies that never issued debt because they were cash rich, such as California-based, A+ rated semiconductor manufacturer Intel Corporation, were tempted to issue debt.
BNP Paribas | Treasury Management International
Pumping Cash to the Centre Ben Poole, Columnist DAB Group's treasury department turned to Banca Nazionale del Lavoro (BNL), part of BNP Paribas Group, to refresh its cash management structure, providing a host of visibility benefits and handing control back to the business.
Bringing it all back home
Treasurers rely on cash management structures for visibility and control over corporate cash the world over. Sometimes, however, regulatory developments or changes to the company’s own structure can render a previously viable structure unfit for purpose. Before the 2017 US tax reform, for example, the majority of online travel giant Booking Holdings’ $10.9 billion of cash and investments was offshore. Douglas Tropp, Corporate Treasurer, Booking Holdings Inc.
Discovering Precise Temporal Patterns in Large-Scale Neural Recordings through Robust and Interpretable Time Warping
Highlights • Trial-to-trial variability in spike timing is correlated across co-recorded neurons • Unsupervised time warping reveals precise spike patterns from neural data alone • Simple and interpretable warping functions (piecewise linear) are often sufficient • Spike time precision may be systematically underestimated without warping Summary Though the temporal precision of neural computation has been studied intensively, a data-driven determination of this precision remains a fundamental...
Capturing Digital Transformation to Deliver Smarter Treasury in Ireland
Capturing Digital Transformation to Deliver Smarter Treasury in Ireland Ben Poole, Writer, TMI HSBCs GLCM forum held in Dublin, highlighted the ways in which treasurers are transforming their departments to conform to the efficiencies presented by Treasury 4.0. Capturing Digital Transformation to Deliver Smarter Treasury in Ireland By Ben Poole, Writer, TMI Global digital transformation has kickstarted the Fourth Industrial Revolution, also known as Industry 4.0. For corporate treasurers,...
Facing the Argentine challenge
While no stranger to financial crises over the past 30 years, the 35% devaluation of the Argentine peso versus the US dollar over the year to date is having serious ramifications for businesses across Latin America. BCRA, Argentina’s central bank, introduced a raft of currency controls on 1 September. These included the stipulation that all firms, banks and corporates alike, require BCRA approval to sell pesos for foreign currency.
Getting a consolidated cash flow picture
For Hoffmann-La Roche and L’Occitane, improved visibility is a positive side effect of cash consolidation. Ben Poole reports. Generating cash in a number of countries and currencies can present a headache for treasury as they strive to get clear visibility over cash positions, according to presentations at the International Treasury Management conference in Geneva. Stefan Windisch, Hoffmann La Roche Stefan Windisch, senior cash manager – treasury operations at F.
Treasurers prepare for global disruption, new risks
In a year in which populist outrage against globalisation and fears of slowing growth have dominated headlines, treasurers have sought to build in resilience against such threats while not missing opportunities. Holding cash may be the obvious defensive strategy going into a downturn but treasurers should accept some risk in order to earn decent returns, pointed out Philip Maton, head of risk at telecommunications conglomerate Liberty Global.
How Agrocorp transported trade to a distributed ledger
“The value of an average container shipment costs around $300,000, some $2,000 of which comes from the physical movement of documents, which for us is a huge cost”, says Nitin Jain, Head of Treasury & Capital Markets at Agrocorp International, speaking at the EuroFinance International Treasury Forum in May.
Treasury goes green
Pressure for companies to operate in a sustainable manner is increasing. At Xylem, the $5.2 billion US-headquartered global water technology company, awareness around this issue is heightened by the fact that all of its products address a variety of water issues. Against this backdrop, the company’s treasury team had to find a way to embed ESG goals into finance.
Navigating a successful treasury technology upgrade
Adding new treasury-specific technology is a challenge for a department frequently charged to ‘do more with less’. Discussions at the recent EuroFinance Strategic International Treasury conference in Miami highlighted the many challenges faced on a systems project, and to negotiate these. Finding the budget and the right system Annette Tedesco, Treasury Systems Manager, Arrow Electronics Before a treasury technology project can start, the business case for funding must be made.
Show More
loading
Actions
Is this you?
As a journalist, you can create a free Muck Rack account to customize your profile, list your contact preferences, and upload a portfolio of your best work.Get in touch with Ben
Contact Ben, search articles and posts on X, monitor coverage, and track replies from one place.
Learn more about Muck Rack