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Making a Compelling Case to Join SWIFT

by Helen Sanders, Editor

On Day One of the SWIFT Corporate Forum at Sibos, the key theme was the value proposition of SWIFT for corporates and how to move from decision to implementation. In this summary, we outline the key points from one of the panel sessions.

Panel:

Hervé Postic, Director at Utsit and Founder of Universwiftnet

Wim Raymaekers, Senior Market Manager, SWIFT

Dave Robertson, Partner, Treasury Strategies

Brian Wedge, VP Treasury Services, JP Morgan Chase

Dave Robertson, Treasury Strategies

Dave emphasised the increasingly cross-functional role which treasury plays within the company. In particular, relationships both inside and outside the organisation are becoming more significant and complex, which requires a more collaborative approach than treasury has had in the past. He outlined some of the key responsibilities which treasury departments needed to manage:

• Treasury has an obligation to safeguard dollars in every transaction, not just treasury payments;

• Treasury increasingly has close connections with Tax and Legal departments, particularly as the company becomes more global, with new payment and banking requirements;

• As global risk becomes more complex, treasury is becoming involved in managing a broader array of risks, including commodities and non-insurable risk;

• Treasury is expanding its scope into new areas such as payments and financial supply chain management as these become more strategic.

However, with most treasuries employing fewer than 10 FTEs, treasury can only evolve its role by automating its day-to-day processes. Key to success in these expanding responsibilities is transparent, accurate information. Consequently, there is new technology spend amongst corporates, not only investing in treasury management systems but also in risk and liquidity management tools.

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