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Gain a holistic picture of treasury technology from a practitioner’s point of view and get the skills you need to design a technology strategy for the treasury function, or optimize the introduction of already chosen technologies. This intermediate level course is run by Nicholas Franck, a treasury professional with over 30 years’ global experience in treasury, banking and consulting.

SaaS, APIs, RPA, AI/ML and more. New technology is enabling treasury staff to minimize time on processing and concentrate on adding value instead. However, poorly understood, bought or implemented technology doesn’t deliver the results wanted. It is, therefore, vital to understand the solutions available, the environment and plan ahead to identify and solve company needs correctly.

Throughout this course, attendees will:

  • Get an overview of existing and new technologies relevant to the treasury department and some of the underlying enabling infrastructure
  • Gain awareness of the solutions available to address their companies’ pain points
  • Establish a framework for identifying technology needs and constraints
  • Learn how to structure a holistic approach to selection right through to implementation
  • Develop a strategy for their functions and companies on what to do, when and how
  • Understand how to implement effectively and assign roles
  • Build the tools to gain credibility with their non-treasury management and peers through the display of technology knowledge and fact-based proposals

Who should attend?

  • Mid- to senior-level executives who want/need to know about, at a high level, the different treasury technologies available and the benefits they bring. Also, how various technologies relate and integrate and the challenges to be overcome to implement and maintain them successfully over time.
  • Executives who want to understand the consequences to their units of new technologies already being rolled out enterprise-wide.
  • Executives at all levels who want to understand the current status and future directions in treasury technology
  • Executives at all levels working on a treasury technology policy
  • Professionals from IT and other functions who support treasury and need an overview of the treasury technology space and the changes happening in it
  • Nicholas Franck

    EuroFinance tutor

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8:30am -9:00am

Registration and refreshments

9:00am -9:15am

Introduction from the tutor and collection of the participants’ learning wishes

9:15am -9:45am

A general introduction to treasury technology

Treasury activities and where different technologies fit in

9:45am -10:15am

Vapourware and beneficial technology – The clients’ role

  • The importance of identifying pain points precisely
  • Having a clear strategy
  • Practical implementation methods and stakeholder buy-in
10:15am -10:45am

The pace of change in today’s technology landscape and how to handle it

Applying 80:20 and ‘No blame’ project shifts in all aspects of project planning

10:45am -11:00am

Morning break

11:00am -11:45am

Review of established treasury technologies and infrastructure requirements

  • On-premise TMSs
  • Market information providers
  • Some dealing platforms
  • Systems integration
  • Legacy reporting capabilities
11:45am -12:15pm

Historical issues with the above

  • No ‘perfect fit vs requirements
  • Lots of manual work
  • The difficulty of managing change
  • Silo-based technology
  • Extensive use of IT needed both upfront and over time
12:15pm -1:00pm

New technologies and how they address the issues

  • SaaS
  • Diversification of information providers
  • APIs in systems integration
  • Enterprise-wide provision of and access to data (data lakes and data warehouses)
  • Analytics platforms and dashboards (‘Super’ Excel, Power BI, Tableau and more)
  • Robotic process automation RPA
1:00pm -2:00pm

Lunch

2:00pm -2:45pm

Recap of the morning and participants’ comments

2:45pm -3:45pm

One framework for planning new technology introduction

  1. Avoiding the Tower of Babel – Importance of effective communication Bottom-Up and Diagonally [e.g., with other functions] as well as Top-Down to identify issues correctly and who needs to be involved, how, and during what steps
  2. Understanding XaaS and the acceleration of software development – Importance of keeping in touch with IT infrastructure and software-writing environmental changes
  3. Finalizing issues and their prioritization
  4. Creating a business case
  5. Shortlisting providers – Established providers and / versus  new challengers – Strengths and weaknesses of each
  6. Understanding resource availability for new project implementation and tailoring a change approach aligned with these and the expected useful life of the technology
    – Early-adopter versus laggard preferences
    – Enterprise-wide vs silo only change
    – Small-step / partial solution versus big step / complete solution change
    – Data cleansing/ wrangling requirements – upfront and ongoing
    – Order of implementation – front office or back office first
    – Implementation methods – agile vs waterfall; 80:20 and ‘No blame’ project shift planning
    – Planning for the discovery of  new, better technologies and budget constraints –Flexible 60:40 mix-and-match vs 80:20 planning
  7. Stakeholder buy-in, in writing
  8. Provider selection
  9. Stakeholder buy-in, in writing (gain!)
  10. Implementation
  11. Continuous review (bottom up, diagonally, top-down)
3:45pm -4:00pm

Afternoon break

4:00pm -4:45pm

Fintechs and the explosion of niche applications

  • Examples of Fintechs – new payment methods, dynamic supply chain financing and investing, KYC, RegTech, ESG and more
  • Stages of an entrepreneurial startup and increasing ease of application creation and funding – Relevance of this to Treasurers
  • Artificial Intelligence/Machine Learning and its immediate applications
  • Distributed Ledger Technology/Blockchain and immediate applications
  • Bitcoin, Digital currencies and Central Bank Digital Currencies
  • Decentralized Finance (DeFi)
4:45pm -5:15pm
  • More of all of the previous applications, improved, plus: Natural Language Processing (NLP)
  • Integrated multi-functional AI/ML
  • Citizen developers and low code/no code
  • New skills needed in Treasury
  • Lack of availability of ‘true’ data scientists – ‘Call to Arms’ – Train Your Own!
5:00pm -5:15pm

Summary and participant questions and comments

5:00pm

End of course

9:00am -9:10am

Welcome address

9:10am -9:50am

Surviving the economy

Suddenly it seems as if we are in a completely new era economically since this conference was last held in March 2022. Then, the pandemic was waning, inflation was low albeit rising, and rates were flat. Now, the economy has dramatically turned, with inflation running at a 40 year high, interest rates soaring and a recession looming. Global supply chains are disrupted by the lingering pandemic and energy and commodity prices are rocketing due to a tragic war in Europe. In this keynote session we analyze the forces shaping the global economy and their impacts on US growth companies, how long this all might last, and ask what interventions might be made by the Fed and central banks around the world to steady the rising tide of inflation and prices.

9:50am -10:30am

Treasury strategies to beat the downturn

With a recession on the horizon and inflation rising in consecutive months throughout 2022, the priorities of the treasurer have suddenly dramatically shifted to an intense focus on driving efficiencies in costs, freeing up cash, slowing down capital investments, optimizing working capital, reviewing hedging strategies, analyzing cash investments, and strengthening liquidity buffers. This urgent to-do list has suddenly emerged into an inflation risk crisis management project. Many treasurers have never seen anything like this unless they were around in the 1980s when inflation and rates were higher than today. Today’s treasurers have been used to a stable and steady environment and are now facing unprecedented challenges that they have never had to deal with in their careers. With the US facing negative growth, and the prospect of a huge slowdown in both business and consumer spending, recession looms. Having come through the pandemic with some optimism that markets would rebound, treasuries are now focusing on developing strategies to survive the future. In this session leading treasurers discuss their survival strategies to get to the other side of this volatile economic environment.

  • Cathy Fields

    Assistant treasurer, sr. director of global risk management, Hitachi Vantara

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  • Zac Nesper

    SVP, Global head of treasury, HP inc.

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  • Debbie Kaya

    Senior director of treasury, Cisco Systems, Inc.

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11:40am -12:20pm

Fighting the immediate impact of inflation on treasury

Inflation is already taking its toll on consumer spending with prices rising rapidly. The double whammy of higher interest rates is also making the cost of capital more expensive. Some treasurers are concerned that there is, at the extreme, potential for social unrest, and that the cost of living crisis is not going to be short-lived. With rising fuel prices and supply shortages across the globe, the rising cost of production and distribution, as well as higher prices, means that for treasury, the risk to cash and liquidity is all too real. Interest rate hedging across the treasury, including FX, cash investments, and other assets is now high on the agenda. In this session treasurers discuss the measures they are taking  to mitigate the immediate impacts of inflation, and the collaboration across the business to limit ongoing inflation risks.

12:20pm -1:00pm

Treasury technology investments: fast or slow?

The acceleration of investments in technologies through the pandemic period, driven by the remote working revolution, through the implementation of cloud based systems and services, has to a large extent, been achieved in large US companies. Whilst ongoing projects to improve cloud systems are always on, the ability to work remotely, communicate with colleagues and access company information, is done.  In the treasury, there is still full gas on automation and APIs, with all of the benefits that digitisation brings in terms of cost efficiencies and manual process reduction. For some companies however, the rate of investment may be slowing, and treasury transformation projects might be under review as costs and prices rise in technology and markets. In this session treasurers discuss whether now is the time to be accelerating investments in treasury technologies or, given increasing  project costs, whether it’s time to put advanced treasury transformation projects on pause for now.

1:00pm -2:00pm

Lunch

2:00pm -5:20pm

Conference breaks into tracks

Delegates can choose between three different tracks. Please see the track tabs at the top of this page.

2:00pm -2:40pm

It’s not over: managing the ongoing pandemic impacts

It is perhaps easy to forget that the global pandemic is not yet over. As Western nations have vaccinated populations and are gearing business operations at pre-pandemic levels, emerging markets are still battling their covid situations, especially in Africa, India and China, and that has led to global supply shortages and higher prices. Whilst supply chain constraints are just one lasting impact, the bigger operational risk questions are how the business is planning for a new variant or new virus that will create a second pandemic, or other potential future crises, such a financial crash, social meltdown and unrest, war and conflicts, or other real world scenarios that may continue to disrupt business operations and market functioning. In this session, treasurers discuss the planning that they have in place to continue treasury functions in the event of external crisis situations impacting business operations.

2:00pm -2:40pm

Next tech project: build versus buy versus best of breed?

In many companies now, and especially technology companies, there is a great deal of software engineering expertise internally to build useful financial and treasury applications.  Tech teams are able to harness technology that serves the business very well, with digital capabilities and capacities to program in database languages and write bespoke APIs that link to existing ERP systems. Treasurers that can create, design and build efficient internal systems are increasing in number. Treasury digitisation for companies that don’t have in-house software engineering expertise, or the capacity to develop bespoke solutions, the simple option is to buy a TMS system, or alternatively invest in several specific software solutions that are focused on core tasks such as payments and forecasting. In this session, we run the build versus buy debate and ask in the current environment which is the smartest choice.

2:00pm -2:40pm

Is it time to review your hedging strategies?

With a strong dollar and rising rates, FX markets are becoming a little more unpredictable than in the recent past. The business objective is to reduce volatility as a result of foreign exchange, so hedging exposures in foreign currencies is a strategy that treasurers are now actively engaging, where previously there was no requirement for FX hedging. Yet the cost of hedging can sometimes be prohibitive especially in exotic currencies, or where exposures are not significant, but for major currencies there can be advantages in locking in rates against market fluctuations. In this session, treasurers discuss their decision making around hedging strategies, the process by which they review hedging and the tools they use to measure the effectiveness of FX hedging. We also look at automatic hedging and ask how this is best utilized in FX transactions.

2:40pm -3:20pm

Supply or die: strategies for keeping the supply lines open

Global supply shortages and broken supply chains are causing companies to seek immediate alternative solutions to get products to market. Some are turning to local sources of supply where possible, others are financing or acquiring suppliers that have liquidity constraints, and some buyers are investing in improving logistical infrastructure, or relocating factories. Yet these fixes are beyond the scope of the treasury. With a recession looming and demand falling, whilst prices and rates are rising has created a unique and unprecedented economic storm in global supply. The financial solutions to supply shortages include invoice factoring, supply chain financing solutions or reverse factoring, purchase order financing, inventory financing and acquisitions. In this session treasurers and their banking partners discuss solutions in financing global supply chains and the actions the treasurer and their business partners can take in order to help maintain the security and continuity of supply.

2:40pm -3:20pm

Is now the time to hire more technologists in the treasury?

When we think of treasury we think of financial experts, yet increasingly treasury is populated with technical experts and software engineers that can build out optimal systems internally and can develop, maintain, evolve and change the treasury systems to meet changing business needs and treasury practices as the company grows. So should treasurers be hiring more treasury technologists in the team? In this session, we invite treasurers who have done just that to discuss how they identified technical talent to meet their needs , and discuss the benefits that tech savvy treasury professionals have brought to treasury management and business growth.

  • Matt Martin

    Senior treasury manager, Shopify

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2:40pm -3:20pm

The impacts of higher prices on cash forecasting

With inflationary pressures and prices rising rapidly in domestic and international markets, the cash flowing in and out of the business in terms of increased costs and higher prices is changing the fundamentals and dynamics in cash forecasting formulae. The opportunity to review cash forecasting models given the inflationary environment is now. In this session treasurer’s talk through the changes that are occurring in cash forecasting due to the inflationary environment, the tools they are developing to ensure visibility and accuracy, and how this is reflected in revised cash forecasting and in consolidated reporting.

3:20pm -4:00pm

Networking break

3:20pm -4:00pm

Networking break

3:20pm -4:00pm

Networking break

4:00pm -4:40pm

Liquidity options for high-yield companies

The funding environment for high yield companies is tightening with rates increasing and credit spreads narrowing. Options for new borrowing are limited, with alternative financing strategies including asset based financing and inventory financing, now on the rise in non-investment grade corporate markets. In this session, treasurers discuss options for higher yield, lower rated and non investment grade companies, to achieve their financing objectives and liquidity targets through this current inflationary period.

4:00pm -4:40pm

Safeguarding against cyber risks and financial crime in treasury

The recent unprecedented joint statement by the US FBI and UK MI5 on economic security threats from China, in the form of economic espionage and hacking, has elevated the urgency to secure cyber security risks in corporations, including financial and treasury operations. With the war in Europe, potential cyber threats from Russia to destabilize western economic activity are also high on the corporate cyber risk radar. These risks,  together with security and compliance regulation, such as KYC and AML checks, have brought the spectrum of technology risks and financial crime risks into sharp focus for treasurers, banking partners, suppliers and customers.  In this session, treasurers talk through their strategies around cyber security and financial crime, and the new measures they are taking in the current elevated risk environment.

4:00pm -4:40pm

Data lakes: enter the technicians

Data is key to improving the quality and accuracy of cash forecasting, and the creation of data lakes to gather information from internal and external sources to analyze cash cycles and create real time cash visibility is a project many treasury leaders are undertaking. Yet the technologies that power data intelligence are ever evolving and require a level of technical expertise beyond traditional treasury. So now treasury teams, focused on date technologies, are re-tooling and reskilling to understand, operate and analyze information in data lakes. Such reskilling includes the learning of database languages including structured query language (SQL), mastering APIs and ERP systems. In this session treasury professionals discuss the challenges in developing data lakes and the reskilling of teams in data expertise to improve liquidity and cash management operations.

4:40pm -5:20pm

Reasons to review debt restructuring

Record amounts of capital was borrowed by corporates during the pandemic period in the form of bonds and revolver loans, and whilst much of the debt has been cleared and paid down from corporate balance sheets over the past year, rising rates is hastening the need for debt management reviews. For treasurers that have bond financing or term loans, the time is now to review the optimal restructuring of debt to reduce interest payments and to preserve capital and ratings. In this session, we ask treasurers how to they approach the restructuring of corporate debt in the light of rate rises to maximize liquidity for the business.

4:40pm -5:20pm

Remote vs hybrid vs office: the work/ life debate

Hybrid working is now the norm in many companies and the shift in working patterns and practices is the lasting legacy of the pandemic on the global workforce. Yet as the pandemic recedes and working life normalizes, the question for many companies and employees is what is the optimal balance between office, hybrid, and remote working now? Whilst the cloud technologies are in place to enable effective treasury operations in remote situations, there is also the view that colleagues might more effectively collaborate on new treasury projects through in-person meetings. In this session, treasurer’s talk about their team structures and the processes they have developed around hybrid and remote working. A key consideration in this is the decentralization of operations, and the commercial office space that the treasury does or does not require. For new talent too, the liberation from the office, and the city, means the treasury can recruit from a wider geographical talent pool. We compare different treasury models of work to see what has been effective and what the future might look like in terms of how treasury teams work together.

  • David Watt

    Head of treasury, Sonder Inc.

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  • Robert Lau

    Treasurer and head of real estate and workplace, Informatica

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5:20pm -6:00pm

Networking reception

8:00am -8:10am

Exhibition opens

8:10am -9:00am

Diversity and inclusion breakfast panel

Take this opportunity to come and hear from some of the individuals who are passionately paving the way to make the world of finance a more diverse and inclusive space. Do you think that your company could do more when it comes to diversity of hiring; specifically women and members of the LGBTQ+ community? What is the best way to approach the issues of inequality you see within your organization in a sensitive manner, and consequently be able to affect change? As a female in finance or a LGBTQ+ ally do you think there are areas that the world of finance, in which you find yourselves, that need to take steps forward and actively create initiatives for progression? Please join us at this networking breakfast to hear some top tips from our panelists on what strategies for change they have found to be most successful and what areas they are conscientiously working to improve.

9:00am -9:10am

Welcome address

9:10am -9:50am

Can ESG still be a priority now?

With managing inflation and rates at the top of the treasurer’s agenda, is ESG any less of a priority now? ESG auditing in investments, financing and supply has been rising in priority in recent years, with many companies keen to highlight their ESG credentials to investors and customers. The embedding of ESG principles and practices has emerged as a priority project, with ESG audits and KPIs firmly established in many leading companies. Regulators are also stepping in to ensure that ESG metrics for investments and securities are met to avoid greenwashing. So what is the treasurer’s role in ESG now, and how does ESG come into focus in the current environment?  In this session treasurer’s discuss their ESG strategies and the actions they are taking to ensure the focus on ESG is not lost in other priorities.

 

9:50am -10:30am

Opening bank panel: Treasury and transaction services in today’s economy

10:30am -11:40am

Networking break

11:40am -12:20pm

Interactive roundtables 1

Open forum format around a table with an expert moderator to discuss ideas together. Choose your topic of choice from:

  1. Future of Money: Crypto, NFTs & CBDCs
  2. ESG & sustainability
  3. FX & hedging risk
  4. Payments & partnerships
  5. APIs and technology investment
  6. Recruitment & building treasury teams
12:20pm -1:00pm

Risk management tools to navigate uncertainty

Systems and processes within the treasury to manage and mitigate risk scenarios are in sharp focus in the current economic environment. Whilst we have discussed risk mitigation strategies, the focus is on how to set up warning systems and dashboards so that treasury and the business can see any threats to cash and liquidity positions in developing real-time scenarios. Understanding where liquidity risks might come from and what to do to mitigate risk, is critical and at the treasury’s raison d’etre. The risk management framework is a project which is under constant review, where the treasurer works closely with business partners to constantly evolve and develop processes to limit liabilities. In this session, we discuss how the business and treasury work together to develop such frameworks to create bulletproof risk management systems.

 

12:20pm -1:00pm

Interactive roundtables 2

Open forum format around a table with an expert moderator to discuss ideas together. Choose your topic of choice from:

  1. Future of Money: Crypto, NFTs & CBDCs
  2. ESG & sustainability
  3. FX & hedging risk
  4. Payments & partnerships
  5. APIs and technology investment
  6. Recruitment & building treasury teams
1:00pm -2:00pm

Lunch

1:00pm -2:00pm

Lunch

1:00pm -2:00pm

Lunch

2:00pm -3:20pm

Conference breaks into tracks

Delegates can choose between three different tracks. Please see the track tabs at the top of this page.

2:00pm -2:40pm

Digital transformation case study: Health Care Service Corporation

A case study from Health Care Service Corporation, winners in the Digital Transformation category of this year’s EuroFinance Treasury Excellence Award.

The scale of HCSC’s US$50.2bn operation is enormous and involves a complex system of multiple independent financial platforms. This led the treasury team to begin an enterprise-wide digital transformation project to improve decision making and re-architect the team’s capacity to be prepared for any future crises or to take advantage of an opportunity with agility and confidence.

The modernised treasury technology stack delivered critical productivity enhancements, such as centrally organised data management and improved treasury decision making functionality that has driven treasury performance, and created significant business value.

2:00pm -2:40pm

Crypto crash: but is there a phoenix coin in the ashes?

The great crypto crash of the summer of 2022 saw bitcoin lose 70% of its value, and has left many decentralized finance advocates in the industry in a corner, holding uncertain crypto assets of volatile value. Some think that the market will rebound and surpass previous highs, whilst others, who have maintained a degree of skepticism around the asset class, feel that it is just yet another signal that the fundamentals are weak. The development of central bank digital currencies (CBDCs), with Fed-backed stablecoins, might be a gamechanger in the development of digital dollars, with US regulators supporting the Fed to develop CBDCs for current markets. How this will all fall out is still yet unknown, but we can seek to know how companies and their treasurers will position around any US CBDC, or other stablecoins. In this session treasurers discuss their thinking and strategy around cryptocurrencies, stablecoins, and other digital assets as both investments and stores of value, and as instruments of payment.

2:00pm -2:40pm

Cash repatriation: is the moment now?

The revised tax environment for offshore funds has meant that many US companies are transferring their foreign capital pools back into US accounts. Now however, with a strong dollar the price of repatriation of funds is increasing as FX rates rise. So is now the right time to repatriate foreign cash and securities? For some treasurers in need of liquidity in US businesses, the answer to that question will be yes. In this session treasurer’s discuss their strategies and processes for cash repatriation to achieve greater pools of accessible working capital for the business and stronger liquidity buffers as rates rise in US markets. 

2:40pm -3:20pm

The case for digitization of debt capital markets

In August 2018, the World Bank issued bond-I, the world’s first bond to be created, allocated, transferred, and managed through its life cycle using distributed ledger technology (DLT). In the years, since, other issuers have joined the fray. Continued improvements in technology and the exploration by central banks of digital currencies (CBDC) hold the potential to transform payments and debt capital markets. Furthermore, these changes can serve as a template for emerging markets to leapfrog developments in capital markets infrastructure and broaden access to finance for the masses. So why is it taking so long to move from POC to BAU? What opportunities and risks do they introduce for users of capital markets and payment rails? And what do treasurers and other financial professionals need to know about them to use them?

  • Akinchan Jain

    Head of asset and liability operations, World Bank Treasury

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3:20pm -4:00pm

Networking break

4:00pm -4:40pm

Alternative investments: what next?

Is there room in the treasurers portfolio for ‘alternative’ investments, or is now the time to exit such investments? For many, the question is focused around yield versus risk management, for example is it still worth investing in crypto currencies, or is the risk too great for the potential yield reward? Is there a role for the treasury in playing the markets and attempting to make a profit or on investments? What does a smart alternative investment portfolio look like now? In this session treasurers and investment colleagues and partners discuss some of the strategies around the development of alternative investment portfolios and what the future holds for such portfolios in a rising rate and higher yield environment.

4:40pm -5:20pm

Safeguarding liquidity in inflationary environments

Cash rich companies that have sufficient liquidity to manage current economic headwinds and downturn in trading environments are less vulnerable to adverse events than companies that hold debt on the balance sheet: yet all treasurers are alert to safeguarding liquidity and the risks of liquidity events that could impact short term working capital in the business. Modeling risks to liquidity with scenario stress testing, and developing liquidity sources for such scenarios is critical to liquidity management. In this session, treasurers and liquidity providers discuss their strategies for safeguarding liquidity as inflation expands in markets.

4:40pm -5:20pm

Closing keynote

5:20pm

Conference end