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33rd EuroFinance International Treasury Management

October 2nd-4th 2024 | Copenhagen

Agenda

Global events continue to shape a complex and uncertain world bringing an array of complex challenges for treasurers. Hear from experts in politics, finance and technology as well as treasury leaders from the world’s top multinationals on how to play a strategic role in supporting the business through turbulence.

Cash forecasting has come under intense focus in the current rate environment. Treasurers will discuss recent projects to improve and automate processes and enhance liquidity from eBam to building in-house banking facilities and collections. Sessions will also tackle advanced tools including pooling and intercompany netting and how to manage exchange controls and trapped cash to unlock working capital.

In this stream treasurers share insights on how to unlock optimal liquidity and funding strategies fit for today’s complex financial environment. Treasurers discuss the challenges of managing liquidity, from corporate loan refinancing, navigating the current capital markets for bond issuers, to charting sustainable finance paths. Next-level SCF technologies and trade finance also come into focus.

Risks are ever evolving in treasury, from navigating inflation and interest rate risks to hedging price swings in commodities and foreign exchange. This stream explores smart strategies and solutions to manage volatile markets and the outlook for 2025. Topics include derivatives and hedging as inflation peaks and falls, the benefits of investing in money market funds and we provide an compliance update on corporate tax rules and KYC requirements.

This strategic stream explores the vital role of treasury in building partnerships across the business. Treasurers share how collaborating with business partners – including FP&A, legal and compliance and technology teams – is key to supporting business risks and achieving greater competitiveness.

In this stream, treasurers share their experiences in treasury transformation and digitisation and explore the power of intelligent information and actionable data. We also look at the future evolution of blockchain, the evolving payments ecosystem and share visions of how technologies will build the future treasury.

At the heart of the high-performing treasury of today are professionals rising to multifaceted challenges. Leaders share their insights into building diverse, agile and intelligent teams, to navigate the changing complexities of treasury operations in multinational companies.

8.00am -8.50am

Registration and light breakfast

8.50am -9.00am

Conference welcome and opening remarks

9.00am -9.45am

Geopolitical risk and global trade: war and want

Wars in the Middle East and the Ukraine have heightened global tensions to a point where geopolitics overshadows economics in the minds of policy makers, economists and business leaders. The tensions between the US and China are fault lines at the forefront of global trade and supply chains, with the prospect of any conflict in Taiwan or North Korea, greatly destabilising. The arguably unifying forces of globalisation seem now ever more loose and fragmented as Russia, China and Iran draw deeper alliances against the US and the West. The impacts of conflicts on commodities, especially energy and food, continue to be felt in markets, as leaders seek solutions to food and energy security. In this US election year, many Americans support trade tariffs with China, as nearshoring supply and production gather pace and protectionist policies embed. On the positive side, emerging market trade agreements, such as Asia’s RCEP and Africa’s AfCFTA are achieving greater cohesion, as policymakers step up to enable trade to flow. In this opening session we focus on the geopolitical risks that pervade global trade and the work at national and multilateral level to develop policy and agreements to mitigate instability, uncertainty and conflict in global markets.

9.45am -10.30am

Higher for longer: interest rates and global growth

Global growth will continue to slow in 2024 at around 2.5 percent average, well below the historical levels that we have seen in the past two decades, due to high inflation and tightening monetary policy. Analysts predict interest rates will remain ‘higher for longer’, impacting market growth. In terms of economic recovery the emerging markets, Asia and Africa, lead the way at 3-6 percent growth. Slightly down on previous forecasts, the world’s largest economy in the United States will see growth at around 1-2 percent according to the Economist Intelligence Unit. Europe will grow just slightly above 1.4 percent, with Germany in recession in 2024. Behind the growth figures and predictions, inflation continues to slow the drag on growth and monetary policy easing slightly in 2025. In this session economists discuss the likely interventions of the European Central Bank and the Federal Reserve as well as central bank actions in emerging markets in the coming year to deliver a global analysis on rates and growth.

10.30am -11.30am

Networking break

11.30am -12.30pm

Risk: navigating uncertain markets

Risks to corporations operating globally are great in inflationary markets, demand side risks can break companies, as much as supply risks in production. Operational risks in specific countries such as political and regulatory changes, that increase the cost of business, as well as technological risks in lagging digital transformation, or increasingly environmental risks, can push companies out of the markets in which they operate. With US bankruptcies rising from 13 to 17 thousand companies in 2023, according to Trading Economics, analysts predict more corporate acquisitions and mergers in a period of market consolidation in 2025. In this session, we take a big picture view of the global corporate landscape, looking at the risks to companies in specific industries and markets, including manufacturing, food and energy. We ask how companies can develop greater operational risk strategies to avoid becoming corporate casualties in turbulent, volatile and uncertain global markets.

12.30pm -2.00pm

Lunch

2.00pm -2.40pm

What does the smart treasury team look like now?

Back by popular demand, this session is dedicated to discussion on the optimal composition of the modern treasury team, achieving the best balance of skills, experience, training, education and backgrounds for team members to deliver best in class performance. With consideration of the ever evolving financial and technical skills required, together with diversity of gender, ethnicity and experience to bring in different perspectives and thinking, the panel will discuss also how the team is optimally organised in terms of remote and office working and centrally or regionally located to support business operations. As no two treasury teams are quite the same, we look at treasury teams across different sectors and markets to identify similarities and differences in structures to deliver optimal treasury execution that makes a strategic advantage.

2.00pm -5.20pm

Conference breaks into streams

Delegates can choose between 6 streams. Please see the tabs at the top of this page.

2.00pm -2.40pm

Inflation and rates risk strategies in treasury

Whilst some markets are seeing the easing of inflation, central bank interest rates are being held or rising in economies around the world as growth slows. For treasurers, who hold loans and fixed-income securities, variable-rate debt can be adversely affected and refinancing at higher rates is expensive, committing cash to higher interest payments. Derivatives, such as interest rate swaps, can offset these risks and stabilise interest rate expenses. Hedging interest rate risks with fixed-for-floating swaps can lock in a fixed rate for a specified period of time protecting against the risk of rising rates. In this session, treasurers debate the pros and cons of interest rate swaps, interest rate derivative hedging and inflation linked securities, as risk tools for combating rising inflation and rates.

  • Sekar Sundaram

    Vice president, treasurer, Parexel

    X
2.00pm -2.40pm

Revolver roulette: risks in corporate loan refinancing

Some $11 trillion dollars of global corporate loan refinancing is due to come on stream in 2024/5 signalling the biggest refinancing exercise in corporate history, according to leading rating agencies. With many revolver loans taken out at lower rates in the covid period now reaching term maturity, a huge volume of debt will need to be financed at higher rates in the coming year. In this session we look at the challenges in refinancing and restructuring corporate debt in current markets and how treasurers and CFOs are working together to manage refinancing risks. Strategies include modelling the impact of refinancing loans across the business and managing maturities and covenants in line with the overall capital structure and risk tolerance of the business. Treasurers on the panel will speak from the perspectives of investment grade and non investment grade ratings status.

2.00pm -2.40pm

Partnering with FP&A teams for enhanced financial modelling

The strategic relationship between the corporate treasurer and the head of financial planning and analysis (FP&A) in respect of financial forecasting is essential for accurate and reliable cash forecasting in treasury. FP&A expertise in financial modelling and variance analysis, helps treasury develop financial forecasts that can be used to inform strategic decision-making. FP&A can develop financial models that include the treasurer’s view on cash positions and use these models to forecast the company’s financial performance. The head of FP&A can also analyse the results of the forecast and identify potential risks. In this session, treasurers and FP&A colleagues discuss how they work together to develop forecasting models that inform strategic financial decision-making and optimise cash and capital.

2.00pm -2.40pm

AI: practical applications in treasury, take two

In recent conversations with treasurers discussion on AI has focussed on the practical applications of AI in treasury, rather than on the potential of AI to transform business and society. When examining how AI can be practically applied today, treasurers begin to head scratch, because beyond predictive analytics in cash forecasting, AIs application is rather limited in treasury to date. Some point to AIs ability to write code as useful, others see that AI could help write and connect APIs. Others see generative AI as a great communication tool. In a recent webinar, treasurers expressed concern about the use of data in AI, especially in public large language models, such as Chat GPT. Treasury data cannot be given up to public AI platforms and so proprietary AI systems and tools need to be built inside companies to protect data. So beyond all the hype and noise and the vast investments currently being funnelled into AI start-ups, treasury has some way to go to reap the benefits of powerful AI applications. In this session, we take a second look, as treasurers again discuss where AI will best be practically applied in the treasury now and in the future.

2.00pm -2.40pm

Forecasting: the real intelligence

Cash forecasting has come under intense focus in the current rate environment with many treasurers citing the ability to accurately predict cash flows into the next business cycle as the most important priority that they currently face. Interestingly companies are still working with many different forms of cash forecasting tools, from spreadsheets to sophisticated and AI assisted forecasting. Yet essentially 

the accuracy of forecasting reflects the quality of the data and the visibility of cash, to the treasurer. For many, the process of improvement is progression to more accurate forecasting, narrowing the margin, rather than striving to achieve a perfect forecast, which many say isn’t practically possible. In the session treasurers discuss the challenges in creating ever more accurate forecasts and the solutions that they have found, working with strategic partners to make forecasts more relevant to the business.

2.40pm -3.20pm

Treasurers say that they are spending increasing amounts of time dealing with legal contracting issues for a range of different entities and counterparties, including supply contracts, hedging and derivative contracts, financial covenants and loan contracts and technical or technology contracts. As treasurers spend more time on contracting issues, this session will focus on the relationships between treasurers and internal legal and compliance teams in specific contracting scenarios, highlighting best practice in collaboration, the processes and technologies in legal and treasury workflow and the key activities for a successful internal strategic partnership.

2.40pm -3.20pm

Show me the data: visualisation for strategic intelligence

Data visualisation has become a preoccupation for treasurers seeking to produce ever more useful data rich treasury reporting on cash forecasting, FX flows and working capital positions, that are of strategic use to financial planning colleagues. The software applications that produce data visualisations, such as PowerBI, are becoming a key tool in the treasury kit, alongside the spreadsheets and TMS systems that feed them the data. Data management, data pools or lakes, SQL commands and programming, pivot tables and data visualisation tools are among the core components of smart treasury reporting. Treasurers who have mastered these tools are excited by their benefits, in that they help present data as strategic information in decision making and so help elevate treasury as strategic business partner. In this session treasurers discuss best practice in data management and visualisation and how to align data techniques with strategic objectives.

2.40pm -3.20pm

Diversity and inclusion in finance and treasury

Diving deeper into diversity and inclusion in finance and treasury teams, this diverse panel will discuss the corporate and market benefits of D&I strategies, in alignment with ESG and SDG initiatives. From diversification in the socio-economic base, to ethnicity variance and disability and neurodiversity accommodations, the panel will reflect on the benefits of a team that is reflective of the society and customers that the business serves. The panel will also explore the internal challenges and barriers to diversity and how to overcome them as well as the components and characteristics of what makes a great diverse treasury and finance team. 

2.40pm -3.20pm

Corporate treasurers, together with CFOs, play an essential role in capital markets funding and bond issuance, overseeing relationships with investment banks, underwriters and rating agencies and regulators, in the process of structuring and pricing bond issuance to investors. Treasurers can also be responsible for managing the debt portfolios and ensuring compliance with bond covenants. In this session treasurers talk through the process of capital raising in current markets, working closely with internal financial stakeholders and external lawyers, banks and rating agencies, to deliver debt securities and corporate paper to bond investors globally and the ongoing process of managing debt to maturity. 

  • Mikko Hepokari

    Group treasurer, Finnair

    X
2.40pm -3.20pm

Pooling for visibility: creating efficiency in cash concentration

Cash concentration and pooling has come into a heightened focus in treasury recently essentially because of the need to free cash from pools in areas of the business, to avoid additional borrowing and external financing at elevated rates. The focus on the development of centralised cash concentration, to zero balances and distribute working capital, or invest cash in funds, is now an essential treasury discipline. Creating the visibility to see where cash pools exist and the automated flows to ensure that cash is concentrated into a single viewpoint, including foreign currency accounts, are key priorities in cash management reporting. In this session treasurers discuss their challenges in the cash concentration and pooling process and the resources and technologies that they are using to enable greater strategic visibility in cash management across the business.

2.40pm -3.20pm

FX natural v financial hedging: key strategies and technologies

With a strong US dollar and declining values in exotic currencies in some markets foreign exchange hedging has become a key area of focus for many treasurers with multinational operations, particularly in emerging markets. The discussion around strategies to manage FX risk usually revolves around decisions concerning natural hedging versus financial hedging of specific currency pairs. For companies that do business in specific countries, local cash operations to match payables and receivables in local currencies is a key natural hedging solution, with a drive toward centralisation and lower costs of business. Financial hedging also is a key strategy, though expensive and forwards, futures and options contracts can be difficult to implement and complex in volatile markets. In this session treasures discuss natural v financial hedging and how automation and dynamic FX trading supports strategy.

3.20pm -4.00pm

Networking break

3.20pm -4.00pm

Networking break

3.20pm -4.00pm

Break

3.20pm -4.00pm

Networking break

3.20pm -4.00pm

Break

3.20pm -4.00pm

Networking break

4.00pm -4.40pm

What goes up: hedging price volatility in commodities markets

Given the recent volatility in currency markets driven by global events originating in the covid pandemic, through now to the Ukraine conflict and war in the Middle East, we can expect commodity prices to remain volatile in the medium term, impacting supply chains and markets. To combat volatility, treasurers are developing risk mitigation strategies around commodity exposures, especially in consideration of war, climate and event risks that can severely impact supply. In the session, treasurers discuss how they strategise around commodity risk with business partners and evaluate potential hedging strategies, such as forwards and options, to manage uncertainty in commodity prices and limit downside risks. Treasurers also consider the technologies that help in decision making and in the execution of hedging commodity derivatives.

4.00pm -4.40pm

Sustainable finance paths for corporate treasurers

Treasurers are playing a crucial role in the development of corporate ESG practices, in three key areas: through the development of sustainable financing initiatives, in investing in ESG fund portfolios and in ensuring environmentally responsible supply chains through financing incentives. In this session green treasurers discuss the components of the sustainable treasury, from sustainability backed loans, green bonds, investment products aligned with ESG principles and compliance practices for subsidiaries and suppliers in markets. We also look at the process of ESG reporting and the internal stakeholders involved in securing the company’s ESG rating for investors. 

4.00pm -4.40pm

Intercompany netting: smart moves for treasurers

Offsetting internal company receivables against payables is a core technique in the drive for efficient cash flows between group companies and subsidiaries; the uplift in cash and the reduction in transactions can lead to significant cost savings. In large organisations netting can be complex with a large number of transactions between subsidiaries, this is often best managed by specialised treasury management systems version and virtual accounts. In this session we discuss how corporate treasuries are working with their subsidiaries and banking partners to optimally engineer intercompany netting arrangements, through treasury technologies, to ensure accounting and tax efficiency across the business.

4.00pm -4.40pm

Recruiting and training the next generation of treasury talent

Whether recruiting from Massachusetts or Tsinghua, finance graduates from the world’s top ranked universities are in high demand in multinational corporations as the treasury seeks out new talent to train to lead for the future. As top finance graduates increasingly move towards the most innovative and dynamic companies that are at the forefront of technological and financial innovation in their markets, companies must keep pace with transformative technologies to retain talent. The discipline of treasury, as distinct from general finance and accounting, is also emerging in universities, including Amsterdam and the Sorbonne. In this session the panel will discuss the challenges of attracting top financial talent to treasury, the ascendency of treasury as a discipline and the education and training to support and deliver future treasury talent. The panel will also give some consideration to the emerging role of technology and AI in the hiring process to help eliminate unconscious bias in talent selection.

4.00pm -4.40pm

Creating value with investor relations and pensions teams

Treasurers can wear many hats and a frequent combination of the treasury function is in investor relations. In some cases this can involve responsibilities where the treasurer can sit on the investment committee and have oversight on pension investments too. So treasurers can play a key role in maintaining strong relationships with investors and managing pension obligations. Effective collaboration between treasurers, investor relations teams and pensions teams is crucial for ensuring investor confidence, navigating investment markets and funds to ensure the safeguarding of company schemes. Treasurers, investor relations teams and pensions teams can all work towards yielding significant benefits for the business, investors and employees. In this session, treasurers and investor relations colleagues discuss how they work together to make informed investment decisions, including pension funding strategies, based on strong market analysis, in view of market volatility, pension liabilities and investment risks.

4.00pm -4.40pm

Data in the cloud: secure strategies for treasury systems

Few treasuries in multinational companies are without treasury management systems in the cloud now, linked to company wide enterprise resource planning networks. These technology stacks, increasingly hosted and virtual, are vital to treasury operations and enable secure anywhere accessibility for treasury teams. Yet the cloud is not infallible, access can be lost, cyberattacks can occur, data can be compromised and business operations disrupted. Decisions as to what data can go in the cloud and data that is on secure company servers, are critical security concerns that can impact operations and a key consideration in any treasury transformation project. In this session, treasurers who have cloud based ERP/TMS, discuss their data strategies and the pros and cons of building treasury in the cloud and how they see their systems evolving over the next year or so. 

4.40pm -5.20pm

Payments interoperability: connecting new technologies

Payments are, for treasurers of multinational companies, a process with secure systems and internal controls, that mostly involves end of day batch processing, through ACH, with banking partners and SWIFT servicing payments for large enterprise B2B payments. Yet the payments ecosystem is proliferating with myriad new products: one in every four fintech dollars are in new payment technologies. With the development of real-time payments in the US and instant payments in the SEPA area, there is ever more choice for companies and customers in payment modalities. With the digitisation of payments, the challenge is the interoperability of payment systems to manage and connect new technologies with legacy systems. In this session we look at treasurers who have developed interoperable payment platforms to incorporate new technologies alongside traditional batch payments, taking a look under the hood at the underlying technology to enable the coexistence of payment rails and formats in treasury systems. 

4.40pm -5.20pm

Working capital optimisation: generating liquidity on demand

Working capital has taken centre stage in many corporate treasuries not least because treasurers and their CFOs would wish to avoid borrowing further in the current elevated rate environment. So the focus and priority for many treasurers and financial planning colleagues is on managing the company’s short-term assets for liquidity, whilst limiting liabilities. Even though inflation is stabilising in many markets, costs in supply chains for specific commodities are significantly elevated on previous prices. Having very detailed analysis on costs gives the treasurer greater visibility over the working capital needs of specific business units. Through strategic partnering with business managers, treasurers together can work on optimal working capital positions, identifying assets on the balance sheet to provide liquidity when and where needed in the business. In this session treasurers discuss the challenges in working capital optimisation in current markets and the techniques around bolstering working capital positions including the optimisation of cash conversion cycles and the use of payables, receivables and inventory financing in specific scenarios in the business.

4.40pm -5.20pm

Treasury and technology: creating strategic value with data teams

Nurturing an effective strategic partnership with heads of technology and data teams is essential for treasurers to optimise the benefits and capabilities of treasury technology, especially in ERP/TMS systems and to enhance data visibility. With an increasing number of technology professionals entering treasury, a strong and collaborative relationship between treasurers and data teams is yielding such as improved data accuracy for data driven decision making and the automation of treasury processes, including payments and FX, reducing errors, improving efficiency and lowering costs. In this session, treasurers and technology professionals discuss their symbiotic partnerships and ways of working to create optimal value in data analysis and reporting and in planning and implementing strategic technological transformation in treasury.

4.40pm -5.20pm

Mid v large cap treasury: same challenges, different risk strategies?

Mid-market corporate treasurers often say that their challenges are similar but different to large multinationals in that they have less resources, less headcount, less access to capital and less capacity to launch technology transformation projects. Mid-market treasurers also point to their need to manage and maintain good working capital ratios, healthy cash conversion cycles on DPO/DSO terms and strong supply relationships. Whilst these factors are also important in large multinational treasuries, mid-market treasurers say that they have little room for manoeuvre in tighter credit markets when prices are rising and capital is scant. In this session, we take a longer look at the specific treasury challenges in the mid-cap sector (for the purposes of this session defined by a market cap of between $500m-$2bn) and explore the elevated risks and mitigation strategies that treasurers engage to manage cash and capital and navigate current rates and markets.

4.40pm -5.20pm

Fintechs: building the ROI business case for treasury systems upgrade

Here we cite a familiar story: when the company invested big capex in a treasury management systems several years ago and spent a great deal of time and resources linking several ERP systems from businesses in the group, the transformation achieved in cash and liquidity management and reporting was then a significant improvement from the previous disparate and inefficient processes. Yet a déjà vu feeling has emerged, as TMS is no longer optimal. New fintech functionalities in cash forecasting and account management are providing greater capabilities and visibility in cash management. “The problem I have now”, said the treasurer, “is to prove to the CFO’s office that there will be significant ROI on this new fintech investment and to do that, I need to gather data and build a business case. Who can help me do that?”. This panel will help show you how.

4.40pm -5.20pm

The treasurer in transition: moving in, on, up, out, across, other…

Treasurers often speak about the strategic role of treasury and the multifaceted role of the treasurer, especially in liquidity management, financial planning and risk management. Treasurers also reflect on the transferability of treasury skills between companies and sectors. Discussion as to whether treasurers should be given job titles such as ‘Chief Treasury Officer’, or ‘Chief Liquidity Officer’ to better reflect their strategic role in the business can be heard on the sidelines of treasury events and in articles on treasury management. In this session treasurers discuss their treasury careers, the transferability of their skills between companies, the strategic rise of the treasury function, the directions for the treasurer transitioning from treasury to related roles in the business, including chief risk officer and chief financial officer and whether treasury is increasingly becoming a c-suite function. 

  • Marianna Polykrati

    Group treasurer, Avramar Group

    X
  • Ayca Arisoy-Kilic

    Head of treasury EMEA and Asia, Bunge

    X
5.20pm -7.00pm

Networking reception

Global events continue to shape a complex and uncertain world bringing an array of complex challenges for treasurers. Hear from experts in politics, finance and technology as well as treasury leaders from the world’s top multinationals on how to play a strategic role in supporting the business through turbulence.

Cash forecasting has come under intense focus in the current rate environment. Treasurers will discuss recent projects to improve and automate processes and enhance liquidity from eBam to building in-house banking facilities and collections. Sessions will also tackle advanced tools including pooling and intercompany netting and how to manage exchange controls and trapped cash to unlock working capital.

In this stream treasurers share insights on how to unlock optimal liquidity and funding strategies fit for today’s complex financial environment. Treasurers discuss the challenges of managing liquidity, from corporate loan refinancing, navigating the current capital markets for bond issuers, to charting sustainable finance paths. Next-level SCF technologies and trade finance also come into focus.

Risks are ever evolving in treasury, from navigating inflation and interest rate risks to hedging price swings in commodities and foreign exchange. This stream explores smart strategies and solutions to manage volatile markets and the outlook for 2025. Topics include derivatives and hedging as inflation peaks and falls, the benefits of investing in money market funds and we provide an compliance update on corporate tax rules and KYC requirements.

This strategic stream explores the vital role of treasury in building partnerships across the business. Treasurers share how collaborating with business partners – including FP&A, legal and compliance and technology teams – is key to supporting business risks and achieving greater competitiveness.

In this stream, treasurers share their experiences in treasury transformation and digitisation and explore the power of intelligent information and actionable data. We also look at the future evolution of blockchain, the evolving payments ecosystem and share visions of how technologies will build the future treasury.

At the heart of the high-performing treasury of today are professionals rising to multifaceted challenges. Leaders share their insights into building diverse, agile and intelligent teams, to navigate the changing complexities of treasury operations in multinational companies.

8.00am -8.50am

Registration and light breakfast

8.50am -9.00am

Welcome to day 2

9.00am -9.45am

Future of work: new worklife for all

Work is in rapid transformation, driven by technology, demographic shifts and changing relationships between employees and employers since the global pandemic. Remote work is now commonplace with over three quarters of employers enabling employees to work remotely. Automation is the greatest driver of change; according to a McKinsey report, whilst 800 million jobs could be lost to automation, 950 million new jobs could be created in this decade. The World Economic Forum predicts that half the global workforce will need to upskill or reskill by 2025 to meet skills demand. Expectations in work-life are changing. Employees are less loyal and with a huge rise in the gig economy, billions of workers in both developed and emerging economies are on temporary contracts. Demographics also point to the growth of older workers in developed economies and younger workforces in developing economies such as India and Nigeria. In this session we look at the future of work and how these changes will impact companies, people and jobs in the next decade.

9.45am -10.30am

Leadership in finance: creating new paths

Recent market events, such as the covid pandemic, the supply chain crisis, falling demand and rising prices and periods of monetary tightening, in response to inflation, has thrown the spotlight on the leadership to navigate the economy through these periods of tremendous turbulence. Financial leadership, especially in corporations and in central banks, has come into sharp focus as markets rise and fall in changing economic conditions. In this session we examine closely the qualities, narratives and examples around great financial leadership, encompassing decisions around funding, investments, governance and relationships with peers and colleagues and explore what it takes to lead in uncertain markets. CFOs and leading treasurers discuss how to work together to create new paths to opportunity in a low growth environment.

10.30am -11.30am

Networking break

11.10am -11.50am

Insuring against treasury risks in inflationary markets

Insuring financial and operational risks associated with treasury activity, is giving rise to ever closer collaboration between treasurers and risk insurance teams, as an essential relationship in developing treasury wide risk mitigation strategies. Treasurers and insurance teams share the common responsibility and objectives in identifying and assessing financial products to insure risks and developing effective risk transfer strategies to mitigate against potential loss, especially in FX and commodities, where derivative products may be required in volatile markets. In this session, treasurers and insurance teams, highlighting the benefits of collaboration and discussing key activities for fostering a successful partnership to manage risks.

11.10am -11.50am

APIs: standardisation, aggregation and integration

Application programming interfaces in treasury, just a few short years ago were few and far between, yet now many treasurers are engaged in API projects, to enable secure data exchange between different software applications. Most notably between banking portals and treasury management systems. The enhanced data visibility and interoperability that APIs bring to treasury are clear benefits, as treasurers seek to build ever more intelligent software systems for multi-channel banking, payments, as well as connectivity with cash management and forecasting tools. Yet treasurers are often challenged, even frustrated, at the differing protocols and lack of standardisation in banking APIs. This often means that not all banking partners or third party applications can be connected or integrated on the same platform, or not at least without time, resources and budget for another technology project and business case to demonstrate the benefits of investing in the API transformation. Whilst third party aggregation is a potential solution, treasurers express some concerns around data sharing and security. In this session treasurers on the API journey and those that have resolved APIs interoperability and standardisation conflicts share their experiences of their projects. 

11.10am -11.50am

Safeguarding cash and working capital amidst uncertain market conditions has caused many hours of lost sleep for corporate treasurers recently. Whilst derivatives for hedging are not a cure for insomnia, they can reduce volatility, at a cost. Derivatives can be a powerful strategy for mitigating risks and futures contracts that lock in prices and protect against market fluctuations and can benefit companies in rising markets. Options contracts to buy assets at agreed prices, offer flexibility against volatile movements. Yet with a spectrum of risks to hedge, from FX risks in several markets, commodities risks from fuel to raw materials, as well as inflation and rate risks, with swap contracts, derivative contracts can be complex to and expensive to manage. In this session treasurers who have recently reviewed their derivative hedging strategies, discuss the factors that influence which derivatives to utilise in specific markets and how they work with risk teams and align with the company’s overall risk management strategy.

  • Dimitrios Siokis

    Group treasurer,Coca-Cola Hellenic Bottling Company

    X
11.10am -11.50am

In or out? optimal strategies for treasury outsourcing and SSCs

Decisions as to which treasury functions to outsource to shared service centres, which to keep in-house, which to manage remotely in the cloud and which to cede to third party providers preoccupy treasury resource planning and are in constant review. For treasurers that embrace shared services, cost reduction and operational convenience are influencing factors. By consolidating treasury functions in SCCs across business and geographies, treasures can reduce costs, streamline and automate processes, optimise resources and improve operational efficiencies. As SSCs operations are scalable, treasurers can work flexibility as the business grows in markets. In this session treasurers who have deployed functions in shared services, discuss their pros and cons and optimal operational functionality in areas such as payments, collections and FX management. Treasurers also discuss strategic activities, including liquidity planning, treasury risk management and working capital allocation in the context of outsourcing and partnering v in-house treasury management, to come to a view of what elements of treasury need to be in and what can go out.

11.10am -11.50am

One step ahead: fighting fraud and cybercrime with intelligent systems

As payment technologies move faster and more frequently, fraud remains a persistent threat, posing significant risks to business. As technological advances, especially in payments proliferate, so does the complexity of fraudulent methods deployed by bad actors and criminals. Fraudulent activities are diverse, from traditional check tampering to sophisticated cyberattacks and ever more innovative scams. Whilst everyone in the company has a role to play in combating fraud, treasurers must be especially vigilant in identifying and mitigating fraud risks, especially in payments and collections. Technology plays a pivotal role in combating fraud, providing treasurers and risk colleagues tools to detect, prevent and investigate fraudulent activities. Advances in artificial intelligence, machine learning and big data analytics are revolutionising fraud detection, enabling treasurers to analyse vast amounts of data, identify anomalies and raise fraud red flags. AI and ML algorithms can analyse historical transaction data, financial patterns and behaviour profiles to identify unusual and potential fraudulent activity in real time. In this session treasurers discuss their role in fraud prevention and detection and the smart technologies they use to help defend the treasury from crime. 

11.10am -11.50am

Treasury strategies for improving liquidity

The strategic management of liquidity to the business is a chief concern for treasurers globally given the current interest rate environment. With a laser-like focus on reducing borrowing, given the elevated cost of capital, treasurers are deploying several lines of attack in liquidity management, from increasing cash reserves, extending debt maturities where possible, hedging against interest rate risks in derivative markets and perhaps most significantly enhancing cash flow forecasting to understand future liquidity requirements. In the session we will focus on the weapons in the armoury of liquidity management, especially for companies that are assessing liquidity risks and developing strategies to mitigate against potential liquidity gaps in assets and liabilities on the balance sheet. 

11.30am -5.20pm

Conference breaks into streams

Delegates can choose between 6 streams. Please see the tabs at the top of this page.

11.50am -12.30pm

Unlocking the trove: managing exchange controls and trapped cash

Corporate treasurers are in constant battle in the challenge of managing trapped cash in countries with restrictive foreign exchange controls. Controls that restrict capital and cash movement, making it difficult to repatriate corporate earnings or make cross-border payments create endless pain points for treasurers. Strategies to effectively manage trapped cash include local investment, intercompany transactions, structured trade finance, local partnerships, asset diversification and foreign exchange hedging, all of which require time consuming engagement with local entities and authorities. In this session treasurers discuss the workarounds in trapped cash management and the technologies that help in navigating the challenges of exchange controls in emerging markets.

11.50am -12.30pm

Payables and receivables: the essential treasury relationship

Rapidly evolving treasury technology is transforming the payables and receivables processes, making AP/AR more efficient, transparent and automated than ever. From automated invoice processing, which significantly reduces time to manage and track invoices, accelerating payables, to predictive analytics that provide insights into payment patterns and potential collection risks, that enhance the receivables view. For the treasurer, accelerated automation of payables and receivables enhances greater visibility of data for a more complete and accurate cash forecast. In working together in areas such as supplier onboarding and payment terms, treasurers can achieve greater certainty over collections and cash conversion cycles, enhancing working capital planning. In this session, treasurers and AP/AR colleagues discuss how they can collaborate to create ever more accuracy and automation in payables and receivable processes and the benefits to the treasury and the business in their partnership.

11.50am -12.30pm

Real time reality check

Real time treasury technologies involve synchronous automated functionalities across core operations, including real time cash forecasting, automatic cash pooling, sweeping and investing of excess cash, as well as dynamic FX hedging and real time liquidity management. In payments too, real-time transfers are available through SEPA Inst across the EU and in the US with FedNow and TCH. Whilst these real time technologies are available, either in-house or outsourced and constantly evolving and improving, many treasurers are yet to fully embrace the automated real time treasury. Yet the automation of treasury functions affords the treasurer the time to develop partnerships and focus on more strategic issues on how the treasury can best support the business. In this session we travel the road to real-time treasury, visiting the operational and technical challenges along the way and asking if the reality of real-time is as it appears to be.

11.50am -12.30pm

Centralisation, regionalisation and optimal organisational alignment

Centralisation of treasury services is an ongoing project for many treasurers focussed on delivering optimal operational efficiencies in core functions. As technology enables centralisation, with access anywhere portals, the treasurer can create a single view of cash and capital, enhancing strategic visibility. Yet for multinational business, with several subsidiaries operating across the globe in specific regions and countries, treasury is often regionalised, to support local business entities, suppliers, currency operations, investments and bank relationships. For some businesses, the drive to centralise services is challenged by devolved business structures and extensive in-country operations, especially where tax structures and foreign exchange controls apply to cash operations. In this session treasurers debate the optimal ways to support the cash 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. 

 

11.50am -12.30pm

Like clockwork: how to build a successful SCF program

Supply chain finance consists of many moving parts and creating a successful and finely tuned global operation at scale is a tough task for the treasury.  Given the recent history of SCF, with some notable negative market events, the challenge in creating successful programs includes lessons learned and a strategic review of risks to ensure a robust system. From reviewing funding panels and liquidity providers, to selecting the right platform to onboard and manage suppliers, as well as navigating regulatory and rating agency scrutiny of on/off balance sheet SCF accounting, treasurers tread a careful line to ensure compliance and manage counterparty risks.  In this session, we hear how two major multinational companies have built successful supply chain programmes across their businesses, negotiating payment terms and hedging interest rates with suppliers as well as embedding ESG and sustainability metrics in supply contracts. Treasurers discuss their strategic relationships with banks, platforms and suppliers, identifying the components and technologies critical to successful operations, as well as the strategies to mitigate against financial and operational risks, to enable programmes to run like clockwork.

11.50am -12.30pm

Investing in money market funds amid regulatory change

Money market funds serve as a key component of cash management strategies in treasury as well as an essential tool in day-to-day liquidity operations. Treasurers often comment that in the current rate environment, MMFs accounts can yield higher returns on cash than bank deposits and many treasurers use MMF as a cash deposit account, with instant, intraday liquidity. Yet whilst MMF are experiencing large inflows, recent events have prompted greater regulation of MMFs, with significant changes recently, both in the US and Europe. This session will cover both the trends in MMF use by corporate treasury as well as regulatory updates encompassing the recent changes in SEC rules as well as regulation in Europe to provide insights on how treasurers can stay compliant and optimise investments. The panel features treasurers responsible for managing corporate cash flows and investing in MMFs.

12.30pm -2.00pm

Lunch

12.30pm -2.00pm

Lunch

12.30pm -2.00pm

Lunch

12.30pm -2.00pm

Lunch

12.30pm -2.00pm

Lunch

12.30pm -2.00pm

Lunch

12.30pm -2.00pm

Lunch

2.00pm -2.40pm

Working with tax teams for optimal and efficient cash operations

Treasurers are concerned to manage cash and capital in the most tax efficient way to preserve value and maintain optimal flows to the business. Essential then is the close collaboration and partnership between treasurers and both internal tax teams and external tax consultants to ensure the preservation of cash as it is moved around the business between entities, or across borders between countries, especially when repatriated from countries with foreign capital controls. As international corporate tax laws evolve, including tax avoidance and tax harmonisation rules, treasurers need to work with tax experts in ensuring good practice in compliance and reporting of cash on account and on balance sheet, across all corporate entities where they operate. In this session, treasurers and tax partners discuss how they work together to develop optimal strategies to stay compliant, eliminate risk and optimise cash operations from a tax perspective.

2.00pm -2.40pm

Sanctions, AML and KYC: regulatory and technological compliance in practice

Treasurers can play a critical role in safeguarding financial assets from fraud and money laundering. Regulation for anti-money laundering (AML) is ever evolving and compliance practices need to keep pace. In this session we touch on the latest AML and KYC regulations including the Financial Crimes Enforcement Network (FinCEN) requirements in the US and explore emerging technologies that can help treasury detect and prevent money laundering. The session will look at how treasury work with compliance teams to ensure due diligence (CDD) procedures throughout the business, including subsidiaries and the supply chain. Treasurers on the panel will also consider how AI and big data analytics can gain insights into customer activity, how blockchain can be applied to enhance transparency and traceability of transactions, as well as the process involved in implementing ongoing monitoring and risk assessments. The panel will also discuss the challenges in complying with sanctions and ensuring cash stays out of specific markets.

2.00pm -2.40pm

Blockchain: what’s new for treasury?

When asked about blockchain applications, treasurers reflect, that whilst the technology was once discussed at every treasury conference, more recently they hear little about it. Yet many would still like to know more on how blockchain is evolvimng and being applied in treasury now. Whilst blockchain and distributed ledger technologies have been transformational in providing secure platforms for transactions, their use cases in a treasury context, has to date been largely in supply chains and trade finance contracts. Smart contracts on private blockchains are now a standard protocol to bring together multiple suppliers and banks in secure transactions and payments flows, with a secure view of data, offering transparency whilst reducing fraud risk. As digital currencies and tokenised assets develop, distributed ledger technologies are likely to proliferate as secure conduits for the transfer of value between counterparties. In this session treasurers who have kept pace with blockchain bring the rest of us up to speed with what’s new for the treasury.

2.00pm -2.40pm

Acquisitions: fusing, integrating and aligning treasuries

As the economic cycle turns, acquisition activity might yet see some uplift as companies recalibrate growth strategies, restructure operations and diversify in markets. As companies acquire competitors in M&A scenarios, or suppliers in strategic acquisitions, the treasury assimilates new people and technologies that come with the deal. Integrating new business lines, as well as plugging into additional treasury arms for reporting, requires some reengineering of systems and processes. As companies assimilate, efficiencies will be found in operations as processes migrate to central treasury systems. In this session we discuss the process of fusing treasury functions after mergers and acquisitions and the reengineering required in processes and technologies to ensure successful integration.

2.00pm -2.40pm

Project eBAM: virtual accounts and bank account consolidation

Anecdotally, every other treasurer that EuroFinance speaks to says that they are engaged in, or have recently completed, a bank account consolidation and rationalisation exercise, often reducing the number of accounts from several hundred to a handful of key business accounts. At the same time, especially coming out of the pandemic period, interest in electronic bank account management and virtual accounts peaked. The benefits of fewer and virtual accounts are clear, mostly in cash visibility, reducing transaction costs, improving cash concentration and simplifying pooling and netting activities. Less is more also in terms of the clarity bank account consolidation offers for cash forecasting, improving working capital and liquidity planning. In this session, treasurers talk through the bank account rationalisation process, pain points and challenges, the benefits of virtual accounts for  visibility in forecasting and in-house banking operations.

2.00pm -2.40pm

SCF technologies: next level automation for buyers and suppliers

Supply chain finance is expanding throughout markets as buyers and suppliers align in the mutual benefits of working capital uplift. Collaboration between buyers, suppliers and financial institutions to optimise working capital across the supply chain has gathered pace in the current rate environment, injecting much needed liquidity across markets. In leveraging technology platforms and data-driven insights, treasurers involved in supply chain finance programmes can automate invoice processing, reduce payment delays and mitigate financial risks. Payment technologies, such as predictive analysis and supplier onboarding, have revolutionised the payables financing landscape, making it more efficient, transparent and accessible than ever before. Artificial Intelligence (AI) algorithms are transforming the payables process, enabling treasurers to make more informed decisions and deliver working capital solutions for specific business needs. Treasurers play a key role in implementing effective payables supply chain financing strategies, operating advanced techniques and technologies to optimise working capital and enhance liquidity to businesses. In this session treasurers share their insights into SCF programmes, processes and technologies and demonstrate the benefits to participants.

2.40pm -3.20pm

Taxing times: impact of evolving corporate tax rules for treasury

Recent changes in global corporate tax reforms, originating from the G20 Inclusive Framework on Base Erosion and Profit Shifting (BEPS), as well as the G7 group’s minimum global corporation tax initiative to bring harmonisation in tax policies, have been significant for treasurers. OECD group countries are signed to a 15 percent minimum rate and in many developed nations, corporation tax stands at around percent. These changes to the global tax system are important in that they impact the treasury on tax on domestic earnings and in terms of tax on cash repatriation and so influence decisioning on FX and local currency management. In this session tax analysts and experts assess the impact of corporate tax reform on treasury and how tax risks can be best managed to optimise liquidity.

2.40pm -3.20pm

Optimising the order-to-cash cycle

Optimising the order-to-cash cycle is a strategic project for corporate treasurers and business colleagues in the tri-drive to accelerate cash flow, reduce costs and improve the company’s liquidity position. Yet the process is multifaceted, with many moving parts: streamlining order processing, implementing agreed credit policies and payment terms, leveraging electronic invoicing, enabling payment options, optimising collection processes and utilising technology solutions, all add to efficient cash conversion cycles. Optimising the O2C cycle leads to significant benefits, including reduced working capital costs, improved cash flow, enhanced customer satisfaction and reduced risk of bad debt. In this session, treasurers share their insights into fine tuning the process and how incremental gains can make a significant contribution to the business and elevate the strategic impact of treasury.

2.40pm -3.20pm

Automation case studies: cash, FX and payments

Perhaps the most mentioned ongoing activity by treasurers, is the continual project of automating treasury functions, essentially by enabling RPA applications in treasury processes. Robots are increasingly commonplace in leading treasuries as the acceleration to business process automation gathers pace in many areas of operations in multinational companies. In treasury, RPAs, effectively and efficiently process payments including invoice management and reconciliation, FX transactions and cash operations such as sweeping and pooling accounts. In this session, we present a trio of RPA case studies that demonstrate business process automation in practice and reflect on how RPA processes will evolve and improve, especially with the advent of AI to manage automation.

2.40pm -3.20pm

Business continuity in treasury operations: preparing for event risks

Event shocks, notably the global pandemic, wars in Europe and the Middle East and subsequent supply chain disruptions, have focussed minds on maintaining operations when the metaphorical balloon goes up. There is now a heightened awareness amongst treasurers and business leaders that disruption can occur without warning and that operations and systems must be resilient and prepared for unexpected events. Whilst cloud technologies have enabled work to continue from anywhere safe, with satellite connectivity available when infrastructure is down, the continuity of treasury services extends beyond systems. Near-shoring operations and near-sourcing supply has also emerged as core strategies to mitigate the risks of event driven disruption. An additional risk to business continuity is financial disruption, where liquidity provision is disrupted due to banking failures, most recently in the US and Europe. In this session treasurers discuss the development of the business continuity planning strategies in various event scenarios, to ensure the resilience of treasury systems and operations. 

  • Winny Li

    Group treasurer, PPD

    X
2.40pm -3.20pm

Treasury collaboration in ESG reporting and compliance

The extent of the treasurer’s involvement in corporate ESG initiatives is mainly focussed on four key areas: sustainable financing, sustainable investing, ESG KPIs in supply and SCF and carbon reduction in operations. As investors, shareholders, regulators, rating agencies, funds and customers now all demand greater transparency on ESG performance, treasurers need to meet ESG KPIs and work closely with compliance teams in the reporting process. Strong data gathering processes for ESG reporting and the publication of ESG data in reports to shareholders as well as disclosures to regulators is now required and expected and treasury compliance is essential. In this session, treasurers discuss their role and activities in ESG data gathering, monitoring and measurement, the technological tools that assist the process and how they work with internal ESG teams and external consultants to bring transparency and visibility in reporting.

2.40pm -3.20pm

Enhancing payables financing technologies for working capital management

Payables financing performs a critical part in efficient working capital management in many businesses and is a central focus for treasurers looking to optimise cash and capital. Payables financing techniques and technologies offer innovative solutions to optimise cash flow, improve supplier relationships and enhance liquidity provision.

Buyer initiatives to reduce payable terms such as dynamic discounting, offer suppliers shorter DSOs and buyers shorter DPOs, improving overall cash conversion cycles. Payables financing technologies can execute discounting, offering process automation in payables operations. This session will delve into the practice of payables financing, exploring the techniques, technological advancements and practical applications for corporate treasurers looking to leverage working capital.

3.20pm -4.00pm

Break

3.20pm -4.00pm

Break

3.20pm -4.00pm

Networking break

3.20pm -4.00pm

Networking break

3.20pm -4.00pm

Networking break

3.20pm -4.00pm

Networking break

4.00pm -4.40pm

Harnessing receivables financing for enhanced liquidity

In the constant quest to improve cash flow and optimise working capital, receivables financing offer innovative solutions to accelerate cash receipts, reduce outstanding invoices and enhance cash flexibility. Receivables financing essentially is the process of monetising outstanding invoices, accelerating cash conversion cycles, tailored to specific business needs and risk profiles. Factoring involves selling outstanding invoices to a third-party, receiving immediate payment and outsourcing the collection process. Invoice discounting involves selling invoices to a financial institution, where the supplier is responsible for collecting payments. Both techniques provide short-term liquidity without disrupting customer relationships. Treasurers must carefully evaluate working capital needs and risk tolerance when implementing receivables financing programmes. This session will explore receivables financing options, recent receivables technologies that automate processes and practical use cases for treasurers, that ultimately support liquidity and working capital positions. 

4.00pm -4.40pm

Investments: identifying risks across the spectrum of treasury assets

Whilst the stated aim of treasury is cash preservation over yield, it is the case that the upside to elevated rates is higher investment returns, especially in cash deposits and short term fixed income. Investment in treasury will always necessarily reflect the company’s liquidity position and risk tolerance and investment mandate and objectives. In this session treasurers discuss risk across the spectrum of treasury investment, from relatively low risk cash and cash equivalents such as money market funds, treasury bills and commercial paper to short-term fixed income, such as treasury bonds, corporate bonds and municipal bonds, which offer the potential for higher returns, as well as longer darted securities. Treasurers will discuss their investment risk strategies in the current rate environment and the process of investment decision making to drive yield whilst managing liquidity and safeguarding cash.

4.00pm -4.40pm

Aligning priorities: strategic partnerships with heads of business units

Increasingly treasurers play a strategic role, alongside the CFO’s office, in leveraging the company’s financial assets, capital and cash to support the strategic objectives of its business units as they evolve in markets. Treasurers are developing strong and collaborative relationships with heads of business units to align financial liquidity and cash management strategies with operational goals to achieve business growth. Whilst operating in distinct spheres, treasurers and business heads share a common goal in driving the company’s financial performance and creating value for shareholders. Whilst treasurers provide insight into cash and liquidity operations, business heads lead the execution of business strategies to drive greater revenues in markets. In this session, treasurers and heads of business units discuss their strategic partnership and the benefits of collaboration including enhanced visibility and business planning around operations, cash flow, capital requirements and financial risks, to drive value creation in the company and competitiveness in markets.

4.00pm -4.40pm

Treasury management models and the science of treasury

Is there an optimal management model for treasury? Can the operation of treasury be broken down into its constituent parts and reassembled in an ideal, holistic model? Treasury management models exist in the charts and infographics of treasury consultants, in the schemas of finance academics and the blueprints of treasurers themselves. Cohesive models focussing on operational rationalisation, technical optimisation and strategic reporting, encompassing the spectrum of treasury activity from cash management to liquidity planning, can be found for those that seek them. In this session treasurers and consultants discuss treasury management models, how they have been applied in treasury and whilst one size will not fit all, whether there is an optimal management model that might be described as the science of treasury. 

4.00pm -4.40pm

Building the in-house bank: enhancing internal liquidity

The development of in-house banking capabilities and liquidity platforms and facilities for the business and its subsidiaries is a key activity of treasuries in multinational companies. The growth of in-house banks in companies is now gathering significant pace, as internal liquidity is prioritised in the current rate environment. The requirements of in-house banking facilities are such that treasurers need to work closely with both internal strategic business partners to ensure the success of the essential project, especially in payments and collections on behalf of subsidiaries and intercompany loans. In this session treasurers who have built and are in the process of building in-house banking facilities share their current experiences and reveal what is new in EPR/TMS technologies that enable internal liquidity platforms.

4.00pm -4.40pm

CBDCs and corporate digital wallets: treasury preparedness

‘Every treasury will need a corporate digital wallet soon, if they haven’t already got one’ was the view of a leading European treasurer, speaking on the subject of digital currencies. Central bank digital currency consultations, projects and pilots are underway in 130 countries, with 64 in advanced development phases and 11 launched, most notably in Nigeria. The US and the EU all have advanced CBDC projects, whilst China is currently testing the electronic renminbi in hundreds of transaction scenarios. As the debate continues about CBDC use cases and necessity, it certainly appears to be the case that CBDCs are coming soon to the treasury. So how should the treasury best prepare for the arrival of CBDCs and what impact will digital currencies have on treasury cash and liquidity operations? How will CBDCs sit alongside cryptocurrencies, if at all, in digital wallets and ledgers? And how can the treasury achieve payments interoperability, integrating CBDCs alongside traditional payment rails? In this session, treasurers and CBDC experts explore the impacts of CBDCs on treasury and what the treasury needs to do now to prepare for future digital money.

4.40pm -5.20pm

Exploring the treasurer's strategic role in private equity backed companies

Treasurers play a strategic role in developing the capital and cash structures for PE backed companies. In current elevated debt markets, the potential to develop equity funding can be critical to the growth of business and treasurers can provide strategic guidance and analysis to ensure the efficient use of capital. Treasurers are critical in developing cash flow projections and capital structures to identify potential risks or opportunities. The treasurer ensures that PE investment is structured in a way that maximises financial efficiency and aligns with the company’s strategic goals. As the company evolves, the treasurer provides strategic financial guidance on capital allocation, debt financing and financial planning. The treasurer’s role involves collaboration with various stakeholders, including investors, board members and lenders, to provide financial updates and ensure transparency in the company’s financial operations. In this session treasurers in PE backed companies share their experiences in developing equity funding in current markets.

4.40pm -5.20pm

Achieving visibility to better support business risk

“Treasury cannot operate in a silo”, is a frequent refrain echoed by treasurers in both complex multinational companies and small companies alike. In a very practical sense the treasury team needs to work with internal finance operations to gather the required data for forecasting. Treasury is a multifaceted operation that requires a collaborative approach in several areas of the cash management and investment cycle, liquidity provision and working capital allocation process. Treasurers say that the key to not operating in a silo, is being connected and in communication with internal strategic business partners to ensure that the business understands the process of treasury and the treasury understands the process of business. To some, this looks like a simple but effective risk management framework where back, middle and front office operations have visibility in each other’s activities and processes in the holistic order-to-cash cycle. In this session, we explore how the treasurer can work effectively across the business, to increase visibility and data points, to produce more accurate forecasts and greater liquidity and working capital management support business operations.

4.40pm -5.20pm

Treasury-as-a-service (TaaS): a test drive for treasurers

With the growth of ‘banking-as-a-service’ (BaaS) and ‘payments-as-a-service’ (PaaS) models, essentially embedding cloud enabled solutions in business operations, we have recently seen the arrival of ‘Treasury-as-a-Service’ models too, which promise plug and play functionality with a suite of treasury management tools and services in the cloud. Benefits include reduced costs in operating treasury infrastructure, increased efficiency in automating treasury tasks, such as payments, collections and reconciliations and scalability as business and treasury operations expand. Yet treasury is a complex, multifaceted operation and no one size approach fits all. So can treasury-as-a-service models adapt and model to the complexity of treasury structures, encompassing global operations across group companies in many countries? Or is TaaS best suited to specific treasury operations? In this session, treasurers who have test driven TaaS services give their verdict and reflect on the evolution of TaaS models. 

4.40pm -5.20pm

Payments revolution: A2A B2C B2B?

Consumers have been experiencing a phenomenal and rapid revolution in payments in recent years, from virtual cards, to embedded finance and BNPL, to faster instant payments, payments as a service and open banking, all of which has created an explosion of choice in the B2C payments world. Payments professionals say that technologies in the consumer market are now gaining traction in the business market and that B2B payments are too undergoing a revolution. Open banking and the aggregation of accounts into a single view is one example, alongside account-to- account payments (A2A), with push payments and request to pay protocols now on stream in the EU. Real-time payments in the US are now available for higher value transactions of $1m. Initiatives to offer business merchants greater choice in cross border payments, such OCT Inst and the EPI are also on stream. In this session treasurers from both consumer and business markets discuss how new payment modalities and technologies are influencing their payments infrastructure and operations.

4.40pm -5.20pm

Collections: improving and automating the process for enhanced cash flow

Treasurers say that improving and automating the collection process can be a highly effective and efficient way of enhancing cash flow to the treasury and improving the working capital position of business units. Whilst treasury relies to a large extent on accounts receivables colleagues in this process, the treasurer can be involved in the project to improve collections and reduce days sales outstanding (DSO) accelerating cash conversion and working capital. From invoice generation to receipt of payment, reconciliation and entry in the receivables ledger, the automation of the process through straight-through-processing (STP) technologies can assist the treasurer in forecasting cash flow and predict the status of cash balances. In optimising the collection process through automated systems, receivables can be viewed in near real time, reducing the potential for late payments and need for factoring arrangements. In this session treasurers discuss their role in the receivables process and how automation benefits cash flow.

5.20pm

Day 2 ends

Global events continue to shape a complex and uncertain world bringing an array of complex challenges for treasurers. Hear from experts in politics, finance and technology as well as treasury leaders from the world’s top multinationals on how to play a strategic role in supporting the business through turbulence.

8.00am -9.00am

Registration and light breakfast

9.00am -9.10am

Welcome to day 3

9.10am -9.50am

As corporations are increasingly defined by their technological competitiveness and technology is evolving exponentially in all spheres, this session will explore some of the key trends and developments, parallel with AI, that are shaping future tech for companies, markets and society. Taking in great advances in the “internet of things” which is connecting billions of devices and wearable tech that keeps us connected anywhere and everywhere, whilst generating a massive amount of data, enabling companies to optimise operations and create new customer experiences. Whilst the metaverse has yet to materialise in any popular way and the immersive digital reality experience is attracting less investment than when Meta was created, many believe in the future for immersive technologies. The rise in cloud computing and the sharing of information and resources across workplaces and communities through cloud platforms is enabling digital economies to flourish. Blockchain too is finding new and niche applications in business. On the negative side, cybersecurity is a big concern for companies, creating challenges around the storing and sharing of information and data. Here we ask the big questions of big tech and signpost future directions in digital trends for corporates and consumers alike.

9.50am -10.30am

AI IA: here to help?

The AI Safety Summit, held at Bletchley Park in 2023, attended by leading scientists and governments from over 30 countries, resolved to “sustain an inclusive global dialogue… and to continue research on frontier AI safety to ensure that the benefits of the technology can be harnessed responsibly for good and for all”. Whilst AI is rapidly advancing, with immense potential to transform society, concerns about the potential risks of AI, the Bletchley declaration was the first step towards the regulation of AI development. Fears around AI development are widespread, such as job destruction and displacement, bias in algorithms and decision making, influence in media with fake news and deep fake images influencing elections and weaponisation that might pose an existential threat. Yet the positive power of AI is also transformational, with intelligent agents (IA) being developed by big tech, ready to help and assist humans in every aspect of life, in a technological revolution that will be more transformative than the invention of the internet, or even the wheel. In this session we set deep minds on the question of AI and the benefits and challenges it will bring to us all.

10.30am -11.00am

Networking break

11.00am -11.45am

Net zero: climate change and corporate action

With 2023 the hottest year on record, climate change is already upon us. The global movement towards net zero carbon emissions is gaining momentum, with a growing number of corporations making ambitious commitments to reduce or eliminate their greenhouse gas emissions. Over 14,000 companies have joined the United Nations Race to Zero campaign, pledging to halve their emissions by 2030 and achieve net zero by 2050. These companies represent around three quarters of global GDP, demonstrating the corporate imperative to address climate change. Yet calls for even faster action are gaining attention at COP28, to accelerate decarbonisation to achieve the 1.5°C target set by the Paris Agreement. In this session we look at the corporate movement on climate change and the impact on business and trade in the years to 2050.

11.45am -12.30pm

The future of money

Aside from the humble banknote, money just doesn’t look the same as it used to. Today, there are more digital transactions than physical transactions and whilst physical currency will likely always be here, digital money dominates. The drive towards central bank digital currencies is gathering pace throughout the world, with many central banks developing CBDCs in pilot projects. Already concerns around use cases, the desirability of programmable money, the role of commercial banks in distribution, the fears of centralised control of personal finance and government digital wallets controlling tax collection, for example, are hotly debated. In parallel, the advent of tokenization and the storing of asset value within digital wallets which can be traded, is a technology which is gathering some momentum. At the same time the future for unregulated cryptocurrencies is uncertain, not least after the FTX collapse. So what really then is the future of money? Will we see the wide scale adoption of central bank digital currencies and possibly greater regional currency unions, especially in emerging markets? Will the dollar ultimately be challenged as the global currency by the renminbi, or will we see a bifurcation or trifurcation of currency alignment in dollar, euro and yuan? How will the role of commercial banks evolve in the digital currency era? In this session we look into the future of money and searching questions on what money will look like a decade and more from now.

12.30pm -2.00pm

Lunch

2.00pm

Conference closes