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You Need to Have a Conversation with Your Bank, TMI Magazine, TMI 187
Treasurers are making huge efforts to embrace digitisation, but they cannot do it alone. As such, they are turning to their relationship banks for smart solutions. In turn, banks are leveraging fintech collaborations and client co-creation sessions to deliver cutting-edge offerings. But is this enough to enable true digital transformation for treasury?
Zuellig Pharma receives a very high volume of customer remittances at month end, which was causing accounts receivable (AR) reconciliation delays. Zuellig responded by implementing HSBC’s dynamic virtual accounts (VA) solution together with robotic process automation (RPA), which has enhanced throughput, customer satisfaction and the company’s working capital position.
Despite the challenges, the UK’s departure from the EU is an opportunity for corporates to re-engineer treasury workflows, overhaul legacy processes, and revamp treasury models. Andrés Baltar and Daniela Eder, Barclays, share insights on best practice treasury post-Brexit and outline how leading corporates are positioning their organisations for growth in the “new Europe”.
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