With corporate bond markets currently awash with billions in dollar and euro issuances for big tech companies funding the AI arms race, and magnificent 7 valuations frothy, according to some analysts, many companies are taking a strategic review of their capital structure and debt and equity positions. Treasurers are increasingly involved in strategic conversations with the CFO and senior finance colleagues on financing the business, including bond issuance and loan financing. In wider capital structuring reviews, discussions around debt to equity ratios, rights issues, share buybacks, dividends and equity can also involve treasury where cash and balance sheet assets are reviewed. As debt reaches maturity and refinancing and revolvers step up in the 2026 rate environment, the impacts to liquidity and working capital in the business is under scrutiny. In this session treasurers discuss their roles and activities in the capital structuring review process, their relationships with the CFO and finance teams, and the strategic role that treasury plays in critical decisions around corporate financing to support the business. In the context of AI issuance, treasurers also reflect on the high-rate, high-valuation environment.
and the broader implications for market liquidity, valuations, and long-term capital allocation trends.

Automation of treasury processes has long been a priority for treasurers, and in the new era of AI, the drive to automate is accelerating exponentially. Treasurers are presented with a myriad of automated technology choices from banking partners, software vendors, fintechs, and technology consultants, all promising greater efficiencies and enhanced operability across systems. Process automation in FX hedging and settlement, payables and receivables systems, cash management, as well as in house banking functions including netting are increasingly embedded across treasury systems. Yet every treasury is unique, requiring fine tuning of automated systems with interoperability and integration to ensure quality data in strategic reporting. In this session treasurers share practical insights on their automation projects, whilst keeping in sight the process challenges that automation solves, and focusing on the next level of automation in the age of AI.

Trade, tariffs and taxes have ascended to the top of corporate agendas, as economic and geopolitical factors continue to cause disruption in markets. For treasurers, the impacts are several. Increased costs and inflationary pressures reflect in working capital, forecasting and liquidity planning. Strategically, businesses that need to ensure security and certainty of supply, are keen to onboard suppliers into beneficial supply chain finance programmes to provide liquidity, with potential strategic acquisition of suppliers. In trade too, businesses are developing funding sources to improve optionality and accessibility to finance where required. In this session treasurers talk through how they are reviewing their supply chain finance and trade finance programs and platforms, the impact of taxes and tariffs on how they approach and negotiate financing arrangements with suppliers, and how these changes have impacted cash conversion cycles and working capital ratios in the business.

Treasurers often describe a banking utopia where all accounts are connected to the ERP/TMS and visible, where APIs seamlessly integrate banking portals, and where there is no hidden cash, in dormant accounts. Treasurers are often involved in bank account consolidation and rationalization exercises, reducing the number of accounts, whilst at the same time involved in KYC approvals to open new accounts and expand liquidity capacity. Some treasurers have activated virtual accounts in the quest for enhanced control and visibility, whilst others are in the processes of reviewing funding panels to enable more efficient capital provision. The drivers for bank account rationalisation include improved visibility, reducing transaction costs, improving cash concentration, enabling netting structures and freeing up trapped cash, improving working capital and enhancing liquidity planning. No wonder then, given all the potential benefits, that treasures give the process of bank relationship management a lot of attention. In this season treasurers discuss the challenges of bank account management, KYC processes, and reviewing banking and liquidity partners, to create the optimal treasury services mix for their treasury and business needs.