Like most treasurers, Royston Da Costa, group assistant treasurer, treasury systems and development, Wolseley Group Services, dreams of a one-stop-shop treasury management system that provides cash visibility, enhanced cash forecasting and counterparty risk information at the press of a button. He is some of the way towards fulfilling that dream as part of a major treasury systems project.

The amount of cash on hand for major corporations in Europe and the US has increased to the point where they are hoarding trillions, says Brian Shanahan, associate principal at REL Consultancy, part of the Hackett Group Company. But will this be enough to cushion them against a potential fallout from sovereign debt and a weakened banking sector in the eurozone?

Staying on the rails - Network Rail’s Finance Shared Services (FSS) was created in 2004 following a major company restructuring. Steve Swientozielskyj, head of FSS, says his team has generated in excess of GBP 30 million in working capital improvements and millions in annual cost savings. Its quest to be world class in all aspects continues, as his team strive to reduce billing errors, eliminate inefficiencies and unnecessary costs.

Continental Drift - Africa is a large continent made up of different markets with varying levels of sophistication. However, Andrew Daley, managing director, head of corporate banking, Europe and Middle East, Standard Bank, says the continent is rapidly evolving, and its relationship with Chinese bank, ICBC, is bringing greater financial muscle to bear in the mining and power sectors, as well as providing RMB-based solutions to facilitate trade between Africa and China. 

Flaunting your assets - Paul DeDomenico has worked in the accounts receivables industry for many years, and now as vice president and head of Global Corporate Receivables Programs at NYSE Euronext, he is working with The Receivables Exchange (TRE) to provide companies with an alternative form of financing based on auctioning their receivables to investors. DeDomenico tells financial-i why this new flexible structure offers so many benefits to companies.
 

When the recession first took hold, transaction banking developed a reputation for reliability and stability, but with the financial crisis biting deeper, cracks are beginning to show. Banks are now faced with a plethora of issues; regulation, low interest margins, the need to offer higher levels of customer service and to exploit opportunities in emerging markets. Heather McKenzie reports

The new ISO 20022 standards may promise to streamline payments, but the system is being hampered by slow takeup and a lack of cohesion and regulation. There needs to be a more defined global implementation process, reports Rebecca Brace.

Best practices for a company’s disbursements processes start with the acknowledgement that procurement, accounts payable and treasury are all integrally involved, says Nancy Atkinson.

Welcome to coverage of financial-i’s sixth annual Leaders in Innovation Awards, which recognise global transaction banks and financial hardware and software providers that have clearly differentiated themselves by innovating across more than 50 categories in wholesale transaction banking. Our awards categories encompass:

• Securities services
• Payments & cash management
• Trade & Supply Chain
• Business solutions