The AFP 2021 Conference Planning Task Force is made up of experienced practitioners tasked with selecting the most relevant, timely and useful content to treasury and finance professionals. We recently caught up with the task force co-chairs, Kayla Davis, vice president and head of M&A at ABM Industries and member of the FP&A track, and John Nielsen, CTP, chief financial officer at FloraCraft Corporation and member of the Capital Markets and Investments and Risk Management track.
In a special edition of the AFP Conversations Podcast, Jim Kaitz, president and CEO of AFP, speaks with Amy Edmonson on the value of successful teaming in a crisis. Novartis Professor of Leadership and Management at the Harvard Business School and author of The Fearless Organization, Edmonson will appear at AFP 2021 as the Tuesday Keynote speaker. In this interview, she provides a preview of her upcoming session, providing concrete tools that leaders and their teams can use to innovate in the face of disruption.
Last year, AFP announced the formation of its APAC FP&A Advisory Council (FPAAC). The networking and advisory group meets three to four times a year to discuss best practices, common challenges and innovative initiatives in the Asia-Pacific region. We’ll be profiling individual members of the council every month. This month, Bryan Lapidus, FPAC, director of FP&A Practice at AFP, spoke with Hari Ramani, PT controller and reporting/analysis lead at Shell.
When it comes to implementing meaningful diversity, equity and inclusion (DEI) efforts, many organizations come up short. Organizations fall along a spectrum between those who are either afraid to act, or those who fall victim to action bias (blindly choosing action over inaction), which produces DEI efforts that amount to nothing more than lip service.
AFP's Tom Hunt, CTP, director of Treasury Services, met with the Treasury Advisory Group (TAG) in April to discuss legal entity identifiers (LEI) with the Global Legal Entity Identifier Foundation (GLEIF). Participants were most interested in the future of LEIs and streamlining the know your customer (KYC) portion of the process.
A global symbol of excellence, the Certified Treasury Professional (CTP) designation sets the standard in the treasury profession. AFP recently caught up with Alexander Seelmann-Eggebert, CTP, deputy regional treasurer at Nestlé in Singapore, to discuss his decision to earn the CTP, and how it has affected his life and career journey.
While everyone has the potential to become an intentional learner, it is an acquired skill that needs to be developed and practiced. A key driver in building employees who are intentional learners is gaining support from leaders of the organization. So why is it that most company learning programs fail?
AFP hosted a webinar, “LIBOR Transition: Preparing for the End Game,” with three corporate finance experts who spoke on the transition of Libor. The speakers included Peter Phelan, president of Phelan Advisory LLC and former (as of March) deputy assistant secretary for Capital Markets at the U.S. Department of the Treasury; Mack Makode, vice president and treasurer at Under Armor; and Matt Johnson, vice president and treasurer at Genesco.
Due to the state of the world, treasury is in a place it has never been before, and there are various challenges hitting at once. However, with challenges come the opportunity to explore new solutions. At AFP 2021, taking place Nov. 7-10 in Washington, D.C., attendees will have the opportunity to gain innovative solutions and to share ideas that address areas of concern within the industry.
The Association for Financial Professionals (AFP) and HOFT have announced a formal partnership to offer exam preparation courses for finance professionals based in the Middle East, Africa and Asia Pacific regions. The courses will equip financial professionals with the tools they need to earn the Certified Corporate FP&A Professional (FPAC) certification, sponsored by AFP.
An elusive goal for most finance organizations is for the chief financial officer (CFO) and financial planning and analysis (FP&A) practitioner to function as stewards of value creation and strategic business partners. Many organizations have spent years transforming their FP&A capabilities to become more valued business partners, but results have been slow or not met expectations.
The field of FP&A is transforming from the traditional landscape of a reactive position to a forward-looking state. We recently caught up with Hector Rubalcava, FPAC, FP&A manager and business partner at Amtrak and member of the AFP 2021 FP&A Task Force to discuss what the task force has planned for the FP&A track, and what he is personally most looking forward to about attending AFP 2021.
This quarter’s AchieveNext discussion focused on how to get the most from your IT investments. Attendees were separated into small-group breakout sessions, from which the discussion unfolded like a three-act play: strategy roadmap, getting approval for the investment, and not throwing it all away.
In a joint letter to the leadership of the House Subcommittee on Investor Protection, Entrepreneurship and Capital Markets, the Association for Financial Professionals, joined by the National Association of Corporate Treasurers, and the U.S. Chamber of Commerce’s Center for Capital Markets Competitiveness laid out their argument in support of legislation that would provide a benchmark replacement rate for contracts that currently reference the Libor.
AFP and PMsquare have announced a formal partnership to offer exam preparation courses for finance professionals based in Sri Lanka. The courses will equip financial professionals with the tools they need to earn the Certified Corporate FP&A Professional (FPAC) certification, sponsored by AFP.
As the world began to grapple with working remotely in 2020, the 2021 Association for Financial Professionals Payments Fraud and Control Survey, underwritten by J.P. Morgan, revealed that nearly two-thirds of treasury and finance professionals believe the coronavirus pandemic is to blame for some of the uptick in payments fraud at their companies.
Last year, AFP announced the formation of its APAC FP&A Advisory Council (FPAAC). The networking and advisory group meets three to four times a year to discuss best practices, common challenges and innovative initiatives in the Asia-Pacific region. We’ll be profiling individual members of the council every month. This month we spoke with Danny Shiu, FPAC, CTP, MOS.
For treasurers, attaining visibility to, and control of, cash is a critical objective. Although today’s technology makes achieving that objective easier than ever before, it does require companies to know how best to deploy the various solutions and innovations that are available.
The latest buzzword in many companies today is “intentional learning.” Any employee has the ability to be an intentional learner — someone who makes a deliberate effort to refresh and upgrade their skill sets. However, that investment in learning must start with leaders of an organization.
Why are intentional learners at a higher career advantage than most in the professional world? It is because intentional learners are continually in an unconscious, reflexive mindset — one at which they operate at all times to improve their skills. Anyone can unlock intentionality in their lives by simply adjusting two critical mindsets: growth and curiosity.
FP&A professionals are helping organisations better understand economic and business trends, identify opportunities, and anticipate obstacles and potential treats. This has led the finance function to spend less time on basic budgeting and reporting responsibilities and relying on its FP&A teams to focus more on data analysis and recommendations to drive future growth.
AFP recently caught up with Susan Glass, CTP, member of AFP 2021 Payments Task Force, to discuss what the task force has planned for the payments track, and what she is personally most looking forward to about attending AFP 2021.
The future of the FP&A profession is expanding around the world, particularly in the Asia-Pacific (APAC) region. The Association for Financial Professionals created AFP FinNext Asia – a complimentary conference event in partnership with FP&A Trends – to bring customized, exclusive content for FP&A practitioners in the APAC region.
The National Automated Clearing House Association (Nacha) approved to increase the Same Day ACH per-transaction limit to $1 million, effective March 18, 2022.
According to KPMG, while CFOs agree that data-driven insights are critical to better decision-making, 84% of CFOs do not trust their company’s data. As a result, 66% of CFOs admit to using their gut instincts over data-driven insights when making strategic decisions.
Almost all organizations hold property that technically belongs to someone else from time to time. Most of the time possession of that property, whether funds or goods, is usually transferred successfully to the owner in the normal course of business. Sometimes, however, checks remain uncashed or customer deposits are not translated into full sales, resulting in organizations holding unclaimed property.
CFOs and finance teams have recognized the need to transform FP&A for some time. Yet despite years of redesigning processes and investing in new technologies, many have not achieved their expected results. Our experience working with CFOs and finance groups reveals five challenges companies encounter when trying to transform their FP&A.
AFP recently caught up with Aziz Samji, CTP, senior consultant of Capital Markets and Corporate Liquidity at Financial National Information Services Inc., to discuss his decision to earn the CTP, and how it has affected his life and career journey.
The Alternative Reference Rates Committee (ARRC) recently hosted the first in a series of webinars regarding the Libor transition. The SOFR Symposium: The Final Year, focused on progress in transitioning away from Libor, and on areas such as the loan market where progress has been slower.
Kayla Davis’ new role as vice president of mergers and acquisitions at ABM Industries, a leader in the facility management space and a Fortune 500 company, has provided her with a fresh perspective. The newest member of AFP’s North American FP&A Advisory Council and the AFP 2021 Planning Task Force, read about Davis' background and how FP&A plays a role in planning.
People often trust precise forecasts more than vague forecasts because precision is associated with knowledge and expertise. But what if data science and analytics trap organizations in a deductive approach to planning and managing the business?
Last year, Gartner coined the term xP&A, proclaiming that it is the natural evolution of planning. The aim of xP&A is to apply FP&A tools to any department within the organization that produces business plans, and layer in automated forecasting, thereby increasing the velocity of forecasting and simultaneously deriving forecasts from teams that are close to information sources.
For intentional learners, learning is not work. It does not require extra effort. Instead, it is unconscious, reflexive – a mindset from which they operate all the time. In today’s world, where all professionals are expected to refresh and upgrade their skill set on an ongoing basis, intentional learners have the career advantage. Fortunately, we all have the ability to become intentional learners.
With organizations more focused on cash than ever before, finance is under pressure to operate as efficiently as possible. Making best use of the available technology is naturally seen as one way to do so. In an environment in which there is constant innovation, with different fintech companies promoting their individual solutions, it can be difficult for finance professionals to identify the best technology for their organization.
Anything with a number has a measure, but a metric drives a business decision. How do organizations use metrics to drive the right business decisions, and how do they manage the proliferation of metrics when we have the capacity to measure and store everything? In today’s shifting financial environment, companies need to ensure their metrics guide the best outcomes – outcomes that align with the organization’s goals.
Despite it being the top buzzword in technology today, there is still a lot of confusion about artificial intelligence (AI). In simple terms, artificial intelligence is an umbrella term for approximately a dozen related technologies all attempting to gain insights from analyzing data or performing tasks based on data that aren’t ideally suited to humans. They include machine learning, deep learning, and robotic process automation.
Market demand is pointing today’s payment rails toward immediate payments. Although The Clearing House’s RTP Network is furthest along that path and picking up speed, it faces a major challenge, as well as a future competitor.
A global symbol of excellence, the Certified Treasury Professional (CTP) designation sets the standard in the treasury profession. Earning the CTP signifies that you have demonstrated the knowledge and skills required to effectively execute critical functions related to corporate liquidity, capital and risk management. AFP recently caught up with Marcell Wiradinata, CTP, a manager of treasury in East Java, Indonesia, to discuss his decision to earn the CTP, and how it has affected his life and career journey.
AFP has launched the FP&A Indicator, a quarterly survey designed to take the pulse of the business community as seen from the point of view of the FP&A department. The survey was developed by members of the AFP FP&A Advisory Council.
Last year, AFP announced the formation of its APAC FP&A Advisory Council (FPAAC). The networking and advisory group meets three to four times a year to discuss best practices, common challenges and innovative initiatives in the Asia-Pacific region. We’ll be profiling individual members of the council every month. This month we spoke with Weng Hong Yong, FPAC, executive director, City Mental Health Alliance.