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Intra-day or Real-time cash movements will feature heavily (again) this year, with several sessions scheduled. Thinking about the main stakeholders
Customers still want it because they need to be more certain about where they stand
Shareholders thought their banks already had it and post GFC are even more certain they already have it
We will be interested to see what progress has been made (if any) and what the drivers are.
SEPA end dates and migration. One for the banks...
E-
May 10, 2012
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Reconciliations are a basic business control. Despite them being commonplace, fundamental errors in their application continue.
When you are reconciling one balance to another, you must make sure that you are using the correct balance. It may sound obvious, but when you are performing a bank reconciliation you need to ensure that you are using the balance provided by the bank to reconcile to.
If you don’t, this can happen:
An error is made because the bank balance hasn’t actually bee
March 26, 2012
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I recently spent some time with a few of the team reviewing recent projects to understand what had gone well and what had not gone well in order to hopefully learn something useful for next time. The projects we were reviewing were long and complex software implementations with impacts across a number of areas of the client’s business.
As we worked our way through the project review we came up with a list of things we could have done better. Lessons learnt first hand are always better in m
March 6, 2012
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“Data is a precious thing and will last longer than the systems themselves.”
Sir Tim Berners-Lee, inventor, world-wide-web
It's always nice to be able to share a joke with your customer so the other day when I was asked by IT infrastructure staff at a customer about any ‘inconveniences’ our solution would ‘force upon them’. This is my slightly tongue in cheek reply:
Customer: So where do you manage your authentication information?
I don't know, where do you manage yours?
February 17, 2012
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The 2012 AFP Risk Management Survey asked CFOs, corporate treasurers and other senior finance executives about risks that worry them now, those most likely to cause uncertainty in the next three years, and actions they are taking to mitigate those risks
Here is my view on the major points:
Financial Uncertainty Risk. Over 70% of respondents identified this as the primary area of concern. Financial uncertainty risk is made up of:
Liquidity risk, the ability to turn assets you hold into
February 9, 2012
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In 2011 Gresham started a graduate recruitment program as part of a long-term investment in our people and strategic direction. Our initial focus has been in the UK but we expect this program to spread across our international business as we grow.
Four graduates were recruited, three into our Bristol office and one into our London office. They are now six months into their first year and I asked each of them to describe their experiences of life at Gresham.
Antonina
My
January 26, 2012
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“There are known knowns. These are things we know that we know. There are known unknowns. That is to say, there are things that we know we don't know. But there are also unknown unknowns. There are things we don't know we don't know.” Donald Rumsfeld
Taking a lead from Donald Rumsfeld, we know what today’s FX rate is. We know that we don’t know what future FX rates will be. We know that we need to do something about it. We don’t know what we don’t know about the FX deal the
January 23, 2012
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JP Morgan has released the latest 2011 global liquidity survey. See it here http://www.treasurers.org/node/7564
Here is my take on the headline points...
The appetite for yield is returning. I sense we have moved from a focus on just staying in business back to one of return on cash. Since 2008, many companies have just been happy to actually have spare cash to earn a return in the first place, as I am sure are their shareholders. Now that period of grace is over the shareholders
January 13, 2012
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It wasn't that long ago, perhaps a year, when certain banks were really not interested in a company's Liabilities / Credit balances. Let's be clear, from a corporate's point of view we mean Assets and Debit balances but I'll never win that battle.
Things are changing... we've just been offered 150 bps (that's 1.5 percent to most of us) by a Tier 1 bank that is not government owned! Not world beating against some other UK contenders (2% no strings attached) but compares favourably with t
January 12, 2012
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Matthew Dragiff’s blog, The Remittance Data Transport Conundrum for Banks, on Finextra was great and prompted me to record some more thoughts on remittance data from a corporate perspective - Matthew's Blog
He raises some great points about what happens to remittance data when it enters the bank payment system in a standard message type, one capable of holding the extended remittance information generated by the corporates accounting system.
If the bank has adopted such a remittance base
September 30, 2011
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