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The No 1 Research Facility in Treasury Management

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TMI 182 Available for Free Download

We are delighted to bring you the latest edition of TMI, in which a wealth of bankers, corporate treasurers and other industry experts share their experiences and thoughts.

This month's TMI includes a study by PricewaterhouseCoopers detailing recent trends in working capital management, and a report on RMB cross-border trade settlement by TMI's Editor.

TMI 182 also includes a number of best practice articles, such as 'Treasury Transformation through Troubled Times', in which Webasto AG's Group Treasurer relates the experiences and challenges that they faced when realising their new treasury vision.

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The Treasurer's 10 Point Checklist

1. "Cash is king" when liquidity is scarce, so focus on the fundamentals of working capital and cash flow optimisation: get paid; know you've been paid; optimise payments; make surplus cash work harder
2. Focus on operational efficiencies wherever possible, such as the centralisation of processes and information, in addition to treasury, payments and collections
3. Check regularly for additional security, efficiency and portability opportunities through SWIFT
4. Closely monitor and manage FX exposures
5. Monitor counterparty risk by checking cash positions, credit default swaps and establishing counterparty limits
6. Ensure the financial supply chain does not become too vulnerable by getting the fundamentals right, such as avoiding late payment to suppliers
7. Begin preparations now to exploit the benefits of SEPA Direct Debits and the Payments Service Directive (PSD)
8. Keep up to date with IFRS changes, such as in Hedge Accounting and lobby the authorities where proposed changes would be detrimental to the business
9. Consider opportunities for improving cash and treasury management in countries of rapid growth, such as in Asia and the Gulf region, but retain a systematic approach to risk and ensure the visibility of cash flow
10. Focus on the company's balance sheet and P&L when making decisions, as well as when assessing treasury results

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NEWS: Will Corporates be the Victims of Financial Regulation?

Both in the US and in Europe, politicians are going out of their way to prove to their electorate that they have learnt the lessons from the financial crisis and that it will never happen again.

A number of important figures throughout Europe (including leading members of the EACT) are, however, questioning the wisdom of the measures that are being proposed. Many believe that the majority of these measures are being carried out as a kneejerk reaction and will do nothing to prevent another financial crisis in years to come.

Olivier Brissaud is one person who is speaking out against the poor decisions being made by politicians, and you can read the full article in PDF format by following the link below:

READ THE FULL ARTICLE BY CLICKING HERE

This article was reproduced in the EACT News section of TMI 181.

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This weeks top 5 downloads ...

Working Capital as a Lever of Profitability

Martin Böhme, Manager, Finance & Treasury Solutions Group, PricewaterhouseCoopers, Belgium, and Didier Vandenhaute, PricewaterhouseCoopers, Belgium

Treasury Transformation through Troubled Times

Andreas Weindel, Group Treasurer, Webasto AG

What Matters Today - #4 Creating a Sustainable Liquidity Strategy

Tristan Attenborough, Managing Director, Liquidity & Investment Products Executive, EMEA, and Margaret Yao, Managing Director, Asia Pacific Head of Liqudity Management & Investment Products, J.P. Morgan Treasury & Securities Services

Creating Competitive Advantage through Cash Management

Turkay Tatar, Finance Director, Arçelik

Fair Valuation Takes Centre Stage

Jiro Okochi, Chief Executive Officer

Online Directory

To list your company contact TMI

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Thought Leadership Articles

TMS Transformation at STMicroelectronics

by Giuseppe Amodio, Head of Financial Risk Management, STMicroelectronics

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IAS and Weather Risks: Now is the Time

Jean-Louis Bertrand, Professor of Finance, ESSCA

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TMS Implementation at Fiberweb

by Christof Nelischer, former Group Treasurer, Fiberweb

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An Integrated Approach to Cash Management in Poland

by Peter Pollaert, Global Head of Cash Management, and Jaroslaw Murawski, SFS Business Manager/ Head of Cash Management Poland, Fortis

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Cost Savings, Audit Trail, Best Execution and STP at Lufthansa Group Treasury

TMI discusses the impact of e-trading and STP within the treasury team with Roland Kern, Head of Treasury at Deutsche Lufthansa AG

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Weathering the Storm

Jonathan Curry, Head of Cash Management, EMEA and James Finch, Head of Cash Sales, EMEA, Barclays Global Investors (BGI) Ltd

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The JPMorgan Asset Management 2007 Global Cash Management Survey

JP Morgan Asset Management

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Ask the Treasury Doctor

Submit your Treasury questions to our resident Treasury Dr.

Sebastian di Paola, Partner at PWC's Eurofirm Treasury Advisors

We will publish a selection of questions and answers online.

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