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Download Digital Edition Transforming Treasury through Issue 280 Innovation Introducing Our 2020 Award Winners n A Treasurer’s Guide to Data Analytics n Building a Digital Armoury for 2021 CONTENTS REGULARS Leader 2 AWARDS Embracing Dynamic Supplier Finance to Support Corporate Introducing the Winners Eleanor Hill, Editor Supply Chains Colin Sharp, C2FO Banks and Vendors Take 6 In three articles the Editor describes how Treasury to New Heights the winners of our Awards for Excellence, Peope in Focus 52 2020, impressed the judges in the categories 12 Pandemic Powerhouses of Banks and Vendors, Corporates and – for Executive Interview 54 organisations putting ESG issues at the heart Come Together: Co-creation as a Celebrating a Sustainable 20 of their corporate treasury function – our Source of Practical Innovation Future Treasury4Good Awards. Pierre Fersztand, BNP Paribas SPECIAL REPORT INSIGHT Innovation: Delivering Real The Resilient Treasurer: Building a A Life-Changing Digital 23 Value in New Ways 26 Digital Armoury for 2021 42 Treasury Transformation: Eleanor Hill, Editor Diane S. Reyes, Karen Gilhooly, Carlos Supporting Gavi’s Mission Gonzalez Fillad, Brian McKenney and Tammy Petro, Global Lead for Wholesale Assietou Sylla Diouf, Gavi, Aniket Stefan Hardy, HSBC Kulkarni, PwC and Christian Payments Innovation and Fintech Mnich, SAP Engagement at J.P. Morgan, talks to the Activate Your Liquidity to Manage Editor about the real technology experience 32 Treasury Challenges in the New and the bank’s partnership with TMI’s A Treasurer’s Guide to Data Normal 46 Analytics: In and Beyond Innovation Hub. Jean Luc Robert, Boris Lipiainen and Samuel Guillon, Kyriba Treasury Dino Nicolaides and Guillaume Smart Treasury: 6 Steps to Building Roudeau, Redbridge Debt & Treasury Advisory and Joan Gelpi, Bank of 36 a Cutting-Edge Treasury, Today America and Michael Aandahl, Sunday Domingo and Byron Gardiner, Ingka Group Standard Chartered Giving L’Oréal’s Beneficiaries ISO 20022: What Is It and Why 50 39 Visibility on Incoming Payments Is It So Important? Stéphanie Niemi and Wim Grosemans, Stephen Lindsay, Platform Evolution BNP Paribas and Justine Dimovic, L’Oréal – Business Lead at SWIFT TMI280 Editor CEO & Publisher Treasury Management International Ltd, Transforming Waney Edge Barn, Foxhill Lane, Playhatch, Treasury through Eleanor Hill Robin Page Issue 280 Innovation Reading RG4 9QF, UK Tel: +44 (0)118 947 8057 Introducing Our 2020 Award Winners Deputy Editor Associate Publisher e-mail: [email protected] Tom Alford Sam Clarke Internet: www.treasury-management.com Commissioning Editor Design & Production EU Office: Treasury Management International Kft. & Operations Manager Glen Orford 2161 Csomád, Verebeshegy u. 11., Hungary Caroline Karwowska Digital Design TMI TREASURY MANAGEMENT INTERNATIONAL ISSN 0967-523X is Copy Editor Alex Tierney published eight times a year by P4 Publishing Ltd, Waney Edge Barn, Elizabeth Hennessy Foxhill Lane, Playhatch, Reading RG4 9QF, UK. The 2021 US annual Digital Content subscription price is $400.00. Airfreight and mailing in the USA by agent named WN Shipp ing USA, 156-15, 146th Avenue, 2nd Floor, Jamaica, Columnist Executive NY 11434, USA. Periodicals postage paid at Jamaica NY 11431. US n A Treasurer’s Guide to Ben Poole Will Hollands Data Analytics Postmaster: Send address changes to TMI-TREASURY MANAGEMENT n Building a Digital Armoury for 2021 INTERNATIONAL, WN Shipping USA, 156-15, 146th Avenue, 2nd Floor, Accounts Printed in England by Jamaica, NY 11434, USA Subscription records are maintained at Waney Karen Roberts Micropress Printers Edge Barn, Foxhill Lane, Playhatch, Reading RG4 9QF, UK. Air Business All paper used by TMI is from Ltd is acting as our mailing agent. While all reasonable care has been sustainably managed forests, taken to ensure the accuracy of the publication, the publishers cannot recycled and controlled sources © 2021 P4 Publishing Ltd ISSN No: 0967-523X - Issue 280 accept responsibility for any errors or omissions. BRIEFING For financial firms to offer their Stephen Lindsay, clients an instant and frictionless Platform Evolution TMI – Business Lead SUSTAINABILITY end-to-end payments at SWIFT experience, they must be able to ISO20022: What Is ACTIVITY communicate seamlessly. This is It and Why Is It So what ISO 20022 enables. Important?, P50 #1 Remote working for If cash is the lifeblood of the company, data all staff for exchange is like the circulatory system, coursing zero daily through the organisation. travel Karen Gilhooly, Managing Director, Global Head of Employee and Customer Engagement, HSBC # The Resilient Treasurer: Building a Digital Armoury for 202I, P26 2 Paper supplied from Increasingly, sustainable Active liquidity sources treasury is getting closer platforms are what’s to the leadership of in play in the current the company. economy. #3 Jean-Luc Robert, Christian Mnich, Head of Solution We have CEO, Kyriba Management for Treasury and replaced Working Capital Management, SAP Activate Your Liquidity polywrap to Manage Treasury A Life-Changing Digital Treasury with paper Challenges in the New Transformation, P42 envelopes Normal, P32 #4 The promise of technology is always so glorious Helping when first introduced, but we want to make sure our to plant clients are all well-positioned to understand what’s 1,000 trees per year hype and what’s real in terms of delivering value. Tammy Petro, Global Lead for Wholesale Payments TREE Innovation and Fintech Engagement, J.P. Morgan Delivering Real Value in New Ways, P23 TREE AID is a registered AID charity All rights reserved. No paragraph or other part of this publication may be reproduced or transmitted in any form by any means, including photocopying no. 1135156 and recording, without the written permission of P4 Publishing Ltd or in accordance with the provisions of the Copyright Act 1988 (as amended). Such written permission must also be obtained before any paragraph or other part of this publication is stored in a retrieval system of any kind. TMI | ISSUE 280 1 LEADER Embracing Dynamic Supplier Finance to Support Corporate Supply Chains By Colin Sharp, Senior Vice President EMEA, C2FO he Covid-19 pandemic The pandemic has shone a spotlight on to of funding options in 2020, including highlighted the importance of the topic of supply chain finance (SCF). traditional banking, asset-backed loans, T offering financial support to Demand for working capital has been at factoring and a steady uptake of SCF corporate supply chains, but the Global unprecedented levels for all companies, programmes. However, the cost of such Supply Chain Finance Forum has also but this is particularly true for small and short-term liquidity has been rising noted how the availability and the cost of medium-sized businesses (SMEs), where traditional payable finance programmes access to capital can be challenging and are still a challenge for many SMEs. expensive at the best of times. Ethical and inclusive supply chain The results from a recent C2FO finance is the only way to sustainably worldwide survey to more than 8,000 help supply chains for the long-term SMEs, highlighted a rush to a wide range good of all participants. 2 TMI | ISSUE 280 LEADER due to high demand and uncertain Participants in the auto industry were also payment terms persist. A solution such economic conditions, access for SMEs is able to reboot after the shutdown with as DCF solves this by enabling treasurers often challenging. liquidity via C2FO. to offer dynamic payment terms to their In addition, different sectors have We also see that DSF will be a force customers. In turn, this empowers them experienced varying levels of impact. for good to support the environmental, to avoid a structural or wholesale payment On the one hand, industries such as social and governance (ESG) initiatives terms extension, and instead provide their medical supplies, grocery retail, and of our customers. Inclusive finance can customers with what they need in terms of white goods have seen spikes in demand be used to correctly incentivise suppliers working capital. Consequently, this helps and have welcomed the ability of SCF to to adopt, and fund, change towards more them to support sales teams to win more support the increased working capital sustainable practices, and reduce the business, and to more effectively support needs of their supply chain in order to carbon footprint in their operations. A their channel/distribution customers. n support the increased business volumes. supplier scorecard measuring carbon But on the other hand, suppliers in reduction, for example, can be linked to industries with significant downturns the price of funding via SCF, meaning have been supported during tough times that suppliers know that when they due to the available cash flows from SCF. improve their performance against Again, this is particularly true in the SME sustainability targets then they can access segment where average cash reserves tend cheaper liquidity. to be less than 30 days. Customer financing Promoting ethical SCF Appetite for solutions such as Dynamic Appetite for The concept of altering payment terms in Customer Financing (DCF) is also return for access to lower-cost finance has growing exponentially. Treasurers have solutions such been around for some time and, where it the opportunity to lay down a foundation as Dynamic suits both parties, is an effective solution. for more dynamic business terms using However, when payment terms are providers such as C2FO. As a result, they Customer pushed
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