Latest Centralisation Articles
Corporates are beginning to look about them and consider exploiting a time of necessary change to develop a slimmed-down treasury function that is both efficient and effective.
Having insisted that the 1 February 2014 deadline for corporates to complete migration to the single euro payments area (SEPA) was non-negotiable, at the eleventh hour the European Commission agreed to a six-month extension and moved the date back to 1 August. The concession was granted as it became clear that many electronic payments in Europe would otherwise fail.
The reconciliation of incoming payments with open accounts receivables (ARs) is often a manual task with high manual intervention, performed by the company’s AR department.
As international economic activity continues to increase, many organisations actively seek opportunities to further expand their operations through global trading relationships. For treasurers, this expansion can be both exciting and terrifying. In fact, company growth presents as many challenges as it does opportunities. The pressures of international expansion have the very real tendency to magnify current shortcomings, even in core activities, as well as presenting new challenges for the treasury department. This article explores both the benefits and potential pitfalls.