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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.” “The world of treasury and finance has a unique opportunity to not just keep pace with new trends, but to be a driving force behind them.”
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 (..)
. “The Tax Cuts and Jobs Act implementation could cause businesses to have extra capital to deploy, but it is even more encouraging that organizations expect to have cash on hand through the normal course of business in the coming year,” said TD Bank’s manager of treasurymanagement sales, Tom Gregory, in a statement at the time.
Between omnichannel procurement, multi-rail payment tools and cross-border trade, treasurymanagement systems (TMS) seem like an obvious necessity for modern conglomerates. Nearly half of the companies surveyed by the Association for Financial Professionals (AFP) and Bloomberg aren’t using a treasurymanagement system.
A new report from treasurymanagement technology firm Kyriba and CFO Research Services offered CFOs a chance to lay out their wish lists for their treasurer peers, with chief financial officers pushing the treasury function to embrace a more prominent role.
New research from the Association for Financial Professionals (AFP) released Monday (May 22) found 80 percent of corporate treasurers agree the role has become more strategic in the last three years. The same amount of survey respondents also said the role of the treasury department will continue to devolve and become even more strategic.
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. Capital allocation, financial risk management, and treasury and payment technologies are also key areas of focus, researchers found.
Separate research released last year by the Association for Financial Professionals (AFP) highlighted corporate treasurers’ and CFOs’ shifting roles within the enterprise. The AFP, along with Marsh & McLennan Cos.,
The world of corporate treasurymanagement has of late had to focus especially hard on the management portion of the job description. The average number of investment vehicles held by corporate treasury departments grew from 2.8 Regulatory frameworks for the above mandates are never one-size-fits-all. two years ago to 3.2
The findings were detailed in the latest 2016 AFP Liquidity Survey , underwritten by State Street Global Advisors (SSGA). “Bank relationships continue to grow in level of strategic importance for organizations,” said AFP CEO and President Jim Kaitz in a statement. The report was published on Tuesday (July 12).
the data shows, and most are written by corporates, lenders and other enterprises via supplier payments, payroll, expenses and other types of transactions. According to Ingo Money CEO Drew Edwards, paper checks are simply an easier way for an organization to make a one-time payment to another organization with which it has no relationship.
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.
. “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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