Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 9
INTERVIEW
"I am always impressed with how
much our corporate clients achieve
with relatively few people in
Treasury," says Dick Oskam, Global
Head of Sales for Transaction
Services at ING.
Dick joined ING at the start of 2015 as the
Global Head of Sales for Transaction Services.
Based in Amsterdam, Dick has over 21
years of banking experience and has built
a longstanding, international career within
commercial banking. His most recent role was
Head of GTS Netherlands for RBS. Prior to his
role at RBS, he spent 17 years at ABN AMRO
where he held various senior roles in Latin
America, Asia, Europe and the Middle East.
the first significant innovation made by
a bank in a very long time in the cash
management and payment landscape,"
he notes
Our clients who have been testing the
VCM solution in recent months are
quick to agree. According to Gilles Lagers, Manager Accounting at Seatrade,
"The biggest win with VCM is to have
your cash centralised into a master account. This enables 100% insight across
the company, and all of your banking
networks, as to when cash is coming in
and going out. Plus, on a daily basis, we
now have access to the complete cash
of the entire group."
Similarly, for Nils Stenger, VP Tax &
International Finance and Treasurer
at Signode industrial Group, the driver
for getting on board with VCM was to
Improving quality and accuracy
Meanwhile, Roland Burgers, Director
of Finance and Administration Europe
at Troy Chemical Company BV, was
keen to find a solution that would help
automate the matching of incoming
payments with outstanding invoices.
"We've been testing VCM and we are
very hopeful that this system will really
achieve what we are looking for," he
confirms. "You simply load your invoices
into VCM and incoming payments are
then automatically matched to those
The future is virtual
For those who are yet to be convinced
about the power of virtual solutions
in bringing sustainable and justifiable
operational efficiencies, Burger says:
"I believe that VCM is a very important
piece in the puzzle for delivering deeper
automation and efficiency benefits for
treasurers and their liquidity management."
Companies and banks, he says, "have
worked hard over the last decade to
make everything more efficient. We
have all embraced national and zero
balancing cash pools, but now we must
look for the next level of solution. In my
view, that next level is virtual."
The solution is built in such a way
that they client can pick and choose
precisely how they want to gain
JAN 2018
- NOV / DEC /
N°99
Seatrade's Lagers is also looking to
reduce his team's workload around
reconciliations, by up to 50%, using
VCM. "This will mean they can spend
more time on reporting and controlling,
making sure they have the complete
picture of where the company's cash is
- and how it is being used," he notes.
-
Through his experiences of VCM thus
far, Stenger believes
that the solution
will "eliminate the
restrictions of cash
sitting in one country in not being able
to be fully utilised in another country."
He says it also gives the company more
flexibility in its cash management,
whilst taking into account compliance
and KYC requirements.
invoices. Not only does matching take
place automatically, but at the same
time a journal entry can be created that
can be automatically posted into your
ERP environment."
LE MAGAZINE DU TRESORIER / TREASURER MAGAZINE
ensure that the
company was able
to use its liquidity in
the most efficient
manner. This was
previously a challenge due to having
"around 450 bank
accounts and being
provided with limited
daily insight into
cash and liquidity
positions," Stenger
explains.
operational efficiencies.
9
Table des matières de la publication Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018
COUVERTURE
SOMMAIRE
EDITORIAL
FINANCIAL HIGHLIGHTS Luxembourg Tax News
INTERVIEW with Dick Oskam, Head of Sales for Transaction at ING
FOCUS
Value generation - How to create (more) value for the company with a better capital allocation
Managing bank accounts, the Cinderella of treasury management
Treasury on the Digital Front Line
FORUM
Implementation of EU Tax Rules
Innovative payments solution
Construction de portefeuille : combiner gestion active et passive
Decision Time: Investing in Money Funds after EU Reforms
Payments as a Strategy
Are asia’s corporates ready to repo?
The evolving role of treasurers
THE FINANCIAL RISK OBSERVATORY
NEWS
LIFE BEYOND NUMBERS
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - COUVERTURE
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 2
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - SOMMAIRE
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 4
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - EDITORIAL
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - FINANCIAL HIGHLIGHTS Luxembourg Tax News
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 7
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - INTERVIEW with Dick Oskam, Head of Sales for Transaction at ING
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 9
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - Value generation - How to create (more) value for the company with a better capital allocation
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 11
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 12
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 13
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - Managing bank accounts, the Cinderella of treasury management
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 15
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 16
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 17
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 18
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - Treasury on the Digital Front Line
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 20
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 21
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - Implementation of EU Tax Rules
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 23
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - Innovative payments solution
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 25
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - Construction de portefeuille : combiner gestion active et passive
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 27
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - Decision Time: Investing in Money Funds after EU Reforms
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 29
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - Payments as a Strategy
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 31
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - Are asia’s corporates ready to repo?
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 33
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - The evolving role of treasurers
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 35
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 36
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - THE FINANCIAL RISK OBSERVATORY
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 38
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 39
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 40
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - NEWS
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 42
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 43
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 44
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 45
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 46
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 47
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 48
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 49
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 50
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 51
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 52
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - LIFE BEYOND NUMBERS
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 54
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 55
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 56
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