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EuroFinance's 29th International Treasury & Cash Management Summit Miami

May 28th-30th 2025 | InterContinental Miami

Agenda

Approved for up to 10.9 FP&A and 12.7 CTP/CCM recertification credits by the Association for Financial Professionals at the rate of one credit for each 50 minutes of attendance.

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8.00am -8.55am

Registration and light breakfast

8.55am -9.00am

Welcome

9.00am -9.45am

Of trade and war: geopolitical outlook for the US in 2025

Arguably what matters most in geopolitics is trade, or more specifically for multinational corporations, the opportunity and cost of trade between nations. Currently, the outlook for US trade hinges on the development of US and foreign trade tariffs, most notably with China. Ongoing conflicts in the Middle East have increased shipping costs as Asia cargo reroutes away from the Red Sea around Africa, inflating imports. In response to supply and shipping issues, nearshoring, especially in Mexico, has accelerated. As US protectionist policies develop, the new administration is set on imposing tariffs on foreign imports that might potentially stoke US domestic inflation. In this session we explore the ongoing impacts of US foreign policy, trade and tariffs, and the instability of markets, that are shaping US business decision-making.

  • Shannon K. O’Neil

    Senior vice president, director of studies, and Maurice R. Greenberg chair
    Council on Foreign Relations (CFR)

    X
9.45am -10.30am

The US economy has seen a dramatic decline in inflation from the 9.1 percent high of June 2022 to the below 3 percent rate today, and is now trending lower than the historical average. US rate cuts are already priced into markets as the Federal Reserve tapes rates downwards, easing up the cost of capital and borrowing for corporate America. Yet growth is forecast to decline in 2025 to an annualised rate of 1.8 percent, down from 2.6 percent in 2024. The outlook for inflation still remains uncertain. Whilst headline inflation is trending down, inflationary pressures still remain in potentially higher trade tariffs increasing the cost of goods, and wage inflation pressing on the economy. In this session we run through potential economic forecasts and scenarios, modelling the potential economic trends over the next year, around the statistically probable parameters for growth, inflation, and rates in US markets.

10.30am -11.15am

Networking

The networking breaks, held in the exhibition area, are your opportunity to dive deeper into new ideas sparked by the sessions with peers, industry leaders, and solution providers in a more informal setting. Maximise your time by booking one-on-one meetings in advance through the app.

11.15am -12.00pm

Next level AI cash forecasting techniques and technologies

Cash forecasting has been front and centre of AI applications in treasury with machine learning and predictive analytics applications designed to improve accuracy, especially in the receivables column. With new and evolving AI driven cash forecasting models, treasurers are keen to understand the effectiveness of new implementations. Here we look at some of the most recent iterations of new forecasting practices, how they align with direct and indirect cash flow modelling and short and long range projections. Treasurers also describe the challenges of implementing new AI software applications alongside traditional spreadsheets and the learning curve in delivering forecasting using new methodologies.

12.00pm -12.45pm

Roundtables

Operations focus: roundtable discussions sharing the latest applications and recent experiences of treasurers in specific treasury functions:

  1. Treasury teams and talent development
  2. Cash management: pooling and netting 
  3. Rates, financing, working capital and liquidity management
  4. Payments systems for treasury
  5. Forecasting and data visibility
  6. AI applications for treasury
  7. ESG and sustainability in treasury
  8. Foreign exchange automation & hedging
  9. Technology transitioning from spreadsheets to TMS
  10. SCF, trade finance and commodities hedging
12.45pm -2.00pm

Lunch

2.00pm -2.45pm

LatAm economy outlook 2025

Economies in Latin America are experiencing varying levels of inflation, rates and growth in 2025. Argentina’s headline inflation is running in excess of two hundred percent and expected to rise further into 2025. Despite the economy shrinking 2.5 percent in 2023, GDP is set to rise to 2.7 in 2024 according to the IMF forecast. After an election year that saw right-wing populist, Javier Milei win the presidency, with a promise to dollarise the currency, companies with Argentina operations are closely monitoring regulatory changes to currency operations and foreign exchange regulations. In contrast, in the region’s largest economy, Brazil, GDP in 2024 is set to fall to 1.5 percent, yet the B in BRIC, will climb back to its pre-pandemic position as the world’s ninth largest economy with US$2.1 trillion in GDP output. The real Brazilian real dropped below 5 per USD level, driven by a strengthening US dollar, the central bank has introduced a series of rate cuts with inflation running close to 5 percent. In this session we discuss the challenges for treasurers on cross-border operations in Lat Am.

2.00pm -2.45pm

Working capital optimization best practice

Due largely to the elevated cost of borrowing in recent years and the higher rate environment, treasurers have sought to intensify liquidity management strategies to optimise working capital provision to the business, rather than resort to short term loan markets. The liquidity tools at the treasurers disposal are well defined and many are well practised in the art of balance sheet management, balancing inventory management, accounts receivables and payables optimization, cash management techniques, such as netting, to enhance cash flow and working capital efficiency. and financial performance. As interest rates gradually taper down, the imperative to leverage balance sheets may ease, but the best practices in working capital optimization are lessons well learned in the elevated rates era. Here treasurers reflect and share their most effective strategies for optimising cash conversion cycles and managing working capital and improving liquidity in the treasury and business.

  • Francisco Salinas

    Treasurer

    CEMEX USA

    X
2.00pm

Conference breaks into tracks

2.45pm -3.30pm

Trade and supply chain finance in US and Latin America

Against a backdrop of evolving trade tariffs and agreements, trade finance volumes between the US and Lat Am are growing as trade and supply proliferates in the region. To facilitate agreements, treasurers are increasingly utilising digital trade platforms to streamline operations, mitigate risks, reduce transaction costs, and enhance efficiency in transactions. In this session treasurers discuss their approaches to trade platforms to streamline document handling, facilitate seamless cross-border payments, and enhance supply chain visibility. In supply, disruptions amid rising demand remains a key inflationary risk. Businesses have responded by rationalising and realigning supply chains, in which supplier financing, or reverse factoring, is a core component. By agreeing preferential terms with suppliers, through early financing programmes, buyers are able to lock in supply in a competitive demand economy. Here we discuss the funding environment for trade finance, and how to work with external partners, including exporter credit agencies and liquidity providers to enable trade. Treasurers also discuss best practices in SFC including supplier onboarding, managing funding, balance sheet management, regulatory compliance and ESG deliverables, and how technologies and SCF platforms can help efficiently manage the process. We also look at trends in dynamic discounting and factoring as an alternative to SCF, as a means of optimising working capital. We also update on recent blockchain innovations in trade finance, supply chains, and smart contracts.

2.45pm -3.30pm

Liquidity management technologies for treasury

Uncertainty in markets, not least inflationary pressures and supply disruption, has underlined the need to ensure sufficient cash reserves to meet business obligations in a fluctuating market environment. In this context, treasurers are focussed on maintaining optimal liquidity levels and improving cash and liquidity forecasting to manage short term funding requirements and working capital needs. The alignment of liquidity to meet liabilities involves several moving parts, which are increasingly monitored and managed through automated data processes to gain real time visibility into liquidity positions and identify liquidity risks. In this session treasurers discuss how they are using data analytics and predictive forecasting to identify potential liquidity gaps and the strategies to meet liquidity shortfalls in the business.

3.30pm -4.00pm

Networking

The networking breaks, held in the exhibition area, are your opportunity to dive deeper into new ideas sparked by the sessions with peers, industry leaders, and solution providers in a more informal setting. Maximise your time by booking one-on-one meetings in advance through the app.

3.30pm -4.00pm

Networking

The networking breaks, held in the exhibition area, are your opportunity to dive deeper into new ideas sparked by the sessions with peers, industry leaders, and solution providers in a more informal setting. Maximise your time by booking one-on-one meetings in advance through the app.

4.00pm -4.45pm

Commodities hedging strategies in US and LatAm markets

Whilst inflation is trending downwards at 3.3 percent – close to the historical average, inflationary pressures persist in markets, not least supply disruption, demand risks, dollar strength and trade tariffs. Commodities prices have spiked in different markets, creating an environment of price volatility and uncertainty. To de-risk markets, treasurers and business partners are in a constant process of reviewing hedging strategies and derivative markets to stabilise and lock in price through forward contracts, to avoid spikes in spot prices. In this session treasurers discuss their commodities hedging strategies, examining the use of forwards, futures, options, and swaps to manage exposure to price volatility in key commodities for both US and Lat Am buyers and suppliers.

4.00pm -4.45pm

Cash investing in US money markets: balancing risk and yield

Managing surplus cash in treasury within risk tolerances is exercise in value preservation for treasurers rather than a yield play. Yet with rates gearing downwards, money market funds and government securities yields are sliding off recent highs and moving towards historical averages. Whilst short term investment strategies are unlikely to change significantly, treasurers and their investment colleagues might see rate cuts as an opportunity to reevaluate their approaches to a diversified cash portfolio. Here treasurers discuss the delicate art of managing US money market instruments whilst balancing cash preservation, liquidity needs, and yield optimization, while adhering to internal investment risk mandates and regulatory requirements.

4.45pm -5.30pm

Tax and compliance issues in US subsidiaries: managing complexity

Multinational companies are faced with significant regulatory, compliance and tax complexity in subsidiary operations overseas, not least in cash management and cash repatriation, intercompany transfers and transfer pricing, netting and pooling structures and withholding taxes. Treasurers also manage internal compliance procedures and protocols for subsidiaries in both domestic markets and foreign entities. Here treasurers and tax experts explore the tax and compliance challenges in managing cash, payments, receivables, and intercompany loans across complex corporate structures in the US and Lat Am, and offer practical insights for navigating regulatory complexities to enable tax efficient operations.

4.45pm -5.30pm

FX hedging and automation: swapping stories

With a strong US dollar, and some mooting dollar devaluation to boost exports, as well as currency volatility in LatAm markets, treasurers are constantly evaluating natural versus financial hedging strategies in specific currency pairs. Given the time consuming task of FX analysis, treasurers are inclined to implement systematic foreign exchange risk management controls, including automated hedging strategies, dynamic hedging techniques, and the use of AI-powered data analytics to minimise currency risk and exposures. Yet the creation of FX algorithms to perform automatic hedging within defined parameters, is part of the derisking process, the other part is the strategic judgement and oversight of the treasurer in uncertain markets. Here treasurers share how they approach FX risk now and the technologies that help.

5.30pm -7.00pm

Networking reception

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8.00am -8.55am

Registration and light breakfast

8.55am -9.00am

Welcome

9.00am -9.45am

Treasury technology transition: the TMS, ERP, APIs project challenge

Treasurers often say that they are in the middle of a transition project – some are migrating forecasting from spreadsheets to a TMS based system, others are in the process of building a business case for TMS transition. Some treasurers are busy building treasury functionality into the ERP, with plug in modules on cash forecasting and liquidity management. Others still are connecting to their banks portals through the ERP via banking APIs. For many treasurers, internal challenges still need to be met to make the transition journey successful – the business ROI case and budget challenge, the systems evaluation and technology partner challenge, the treasury skills and implementation challenge, and ultimately the operational benefits challenge. In this session treasurers discuss the key challenges in treasury technology transition at various stages of their implementation journey to provide a roadmap for those embarking on transition.

9.45am -10.30am

Bank panel discussion

Session description to be confirmed.

10.30am -11.15am

Networking

The networking breaks, held in the exhibition area, are your opportunity to dive deeper into new ideas sparked by the sessions with peers, industry leaders, and solution providers in a more informal setting. Maximise your time by booking one-on-one meetings in advance through the app.

11.15am -12.00pm

Centralization vs localisation of treasury operations in US and Lat Am

For multinational companies working across Latin America, the optimal organisation of treasury to support business in local markets is a question that is often under strategic review. Whilst some companies prefer to have an office and treasury function in every country in which they operate to support local currency operations and banking relationships, some companies opt for regional treasury hubs, whilst others have a completely centralised treasury model. Whilst there is no ‘one size fits all’ approach to treasury organisational models, the optimal alignment of treasury services is a strategic question to which there are several options, depending on the requirements of the business. External factors such as tax structures, applicable laws on foreign investment, foreign exchange controls in cash operations as well as the liquidity needs of local entities are all core considerations in determining treasury structures. In this session treasurers debate the optimal ways to support the treasury requirements of the business at both central and local level and discuss the challenges in operational alignment of local and regional treasury teams in supporting central treasury operations.

11.15am -12.00pm

Corporate loan and bond markets: rates and refinancing scenarios

As rates ease in both US and LatAm markets through 2025, and the cost of borrowing falls in loan and bond markets, access to credit and capital for both investment and non-investment grade companies is likely to increase, as yields decline. The loosening of credit markets across the corporate ratings as interest rates fall, will likely see a surge in refinancing and debt restructuring at lower rates, as loans mature over the next year. Maturing debt volumes in the US are likely to hit US$2.3 trillion in 2025, according to S&P analysis. Yet events might derail that scenario, if inflation proves stubborn and sticky, and rate cuts are halted or reversed, or if treasury yields invert and growth slows. Here treasurers currently navigating RCF and bond refinancing options, discuss their outlook and strategies for liquidity and capital in an uncertain rate environment.

11.15am -12.45pm

Conference breaks into tracks

12.00pm -12.45pm

Treasury and banking relationships in LatAm

Treasurers working with local banking partners providing treasury services in Latin America are met with different rate and liquidity environments across the region. Whilst Mexico and Brazil are seeing a decline in rates from double digit highs, significant challenges remain in liquidity markets in Argentina where interest rates are running at 40 percent. In this environment, treasurers seek to avoid local currency funding, even as local rates ease. In this session treasurers of both Lat Am companies operating in their local markets and treasurers of US subsidiaries, share their perspectives and experiences on liquidity operations with local banks as well as the provision of additional treasury services including payments, cash deposits and FX services. Treasurers discuss the advances and innovation in technology provided by local banks and their partnership in the development of bank products and services for corporate treasury clients in the region.

12.00pm -12.45pm

Payments innovation and interoperability in corporate treasury

Whilst batch payments and ACH are the mainstay treasury of payment systems, the payments ecosystem is evolving rapidly, with innovation across both B2C and B2B markets. Most notably, real-time payments, which enable direct account to account transfers in intraday transactions, whilst still comparatively small at 2 percent, are gaining in volumes, with the benefits of instant liquidity and working capital. Yet for treasurers dealing only in batch payments, API-driven payment platforms on B2B transactions linked to bank accounts, are enabling faster, more secure, and more efficient payments through centralised payment hubs in treasury. In cross-border payments, SWIFT is moving forward with ISO2022 interoperable systems and gsi messaging. Here treasurers discuss advances in innovation and interoperability in payments, the challenge and benefits of APIs, and the pros and cons around the adoption and integration of real time payments systems.

12.45pm -2.00pm

Lunch

12.45pm -2.00pm

Lunch

12.45pm -2.00pm

Lunch

2.00pm -2.45pm

Visible advances in cash management practices

Visibility is at the heart of innovation in cash management practices, say treasurers, with an ever increasing need to see real time cash positions, to determine liquidity needs. Pooling cash across business entities, including subsidiaries, and implementing effective intercompany netting practices to offset payables and reduce transaction fees, are key strategies toward cash efficiency across US corporate treasury structures. Here we deep dive into innovative cash management approaches, demonstrating how leading treasurers are fine tuning account data processes, to optimising liquidity, enhancing visibility, and maximising surplus cash flow to the business.

  • James Krikorian

    VP, treasurer

    Krispy Kreme

    X
2.45pm -3.30pm

The impact of AI on treasury technology: practical applications

Treasurers, like all business leaders, are fired up with the transformative power and potential of artificial intelligence in treasury technologies. AI powered applications for business and finance are in rapid development and in areas in treasury including cash forecasting, cash and liquidity operations, fx and risk management and data management and reporting and other key areas. Yet AI also demands data to analyse and calculate probabilities in predictive forecasting and reporting, and data management and security are key issues in the implementation of AI capabilities and functionality. In this session, treasurers discuss real world case studies and proven applications for AI in treasury, discussing the challenges in implementing and integrating AI solutions, as well as the future possibilities for AI technologies in a treasury context.

3.30pm -4.00pm

Networking

The networking breaks, held in the exhibition area, are your opportunity to dive deeper into new ideas sparked by the sessions with peers, industry leaders, and solution providers in a more informal setting. Maximise your time by booking one-on-one meetings in advance through the app.

4.00pm -5.00pm

Roundtables

Sector focus: roundtable discussions focusing on sharing the unique challenges and solutions for treasurers in specific market sectors:

  1. Food, agriculture and commodities sector treasury
  2. Retail and FMCG (B2C) sector treasury
  3. Technology and e-commerce sector treasury
  4. Manufacturing, construction & engineering sector treasury
  5. Energy, mining and transport sector treasury
  6. Health & pharma sector treasury
  7. Other B2B treasury sectors
5.00pm

Day 2 ends

8.00am -9.00am

Light breakfast

9.00am -10.30am

Workshops commence

Session description to be confirmed.

10.30am -11.00am

Networking

The networking breaks, held in the exhibition area, are your opportunity to dive deeper into new ideas sparked by the sessions with peers, industry leaders, and solution providers in a more informal setting. Maximise your time by booking one-on-one meetings in advance through the app.

11.00am -12.30pm

Workshops resume

Session description to be confirmed.

12.30pm -2.00pm

Lunch

2.00pm

End of conference