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Yet, a new report from the Association for Financial Professionals (AFP) warned of only minuscule adoption of these tools so far, a trend that analysts described as “troubling.” “These technologies are disrupting every organization, especially the finance function.
Kicking off the first day of AFP, the conference for finance and treasury professionals held in Nashville, Tennessee this year, Mike Watercott, CTP, working capital consultant, US Bank, led a discussion on striking the balance in payments with Andy Sullivan, vice president of channel sales, Bottomline and Cynthia MacGeagh, treasurymanager, Clayton (..)
In its report, TD Bank found that 58 percent of treasurers said they were optimistic about tax reform’s ability to positively impact their companies; more than a third said they expect the legislation to positively impact their companies’ finances in particular. The AFP again highlighted these tensions in its Q3 2017 report.
In part,” said T he Asset , “this may be because smaller companies tend to face tighter financing conditions and higher interest rates than mid-caps or large corporates, making the credit relationship more important.”. The AFP, along with Marsh & McLennan Cos.,
The findings were detailed in the latest 2016 AFP Liquidity Survey , underwritten by State Street Global Advisors (SSGA). Researchers found that 90 percent of treasurers and corporate finance professionals cite their relationship with the bank as the top factor behind their decision to choose where to invest corporate funds.
In their Strategic Role of Treasury Survey , the AFP and Marsh & McLennan identified the forces pressing companies to shift the treasury department into a more strategic position. As corporates and the treasurers themselves examine the issue, a new report from Marsh & McLennan Cos.,
Corporate treasury is now more strategic for the enterprise, meaning chief financial officers and treasurers must be close-knit with their organizations’ boards of directors. ” Their concerns aren’t baseless, either. ” Not all of these silos are easy to overcome, however.
. “While adoption for consumer accounts is enhanced through regulatory drivers, adoption for business accounts is based on market interest,” she stated in her presentation at the Association for Financial Professionals’ AFP 2019 event.
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