TOMATO CATCH-UP: Newsletter Issue 176 - September 2014
Your monthly resource on working capital, process optimization and issues relating to the world of corporate treasurers, IT professionals and bankers!
Introduction:
I’m writing this newsletter in our office in Kloten. The view is breathtaking; I’m also getting a better sense of how we work here. This month, Martin, Pietro, Andreas, Esra and I are reviewing how we can improve these news: What topics you, the reader, want us to cover and how you prefer it to be presented. One criterion I like involves using those tweets that got the most views and responses on Twitter. Of course, you’d be the best to advise us, so please share your preferences with us. Thanks in advance. Here our evening celebration.
Enjoy this month’s variety of topics!
Your Tomato
Regula Spottl and the Tomato Team
Topics
- EBICS Versus SWIFT: Country-specific Requirements
- ‘fit for treasury’ Event, 18.9.2014 in Salzburg
- SEPA 2014: Mission Accomplished - What Now?
- Opportunities to Improve Cash Management Efficiency
- How Can CIOs Thrive in a Changing Environment?
- CIOs 5 Most Persistent Issues
- Reverse Mentoring (Twitter hit)
- 5 Steps to a Strong IT Culture (Twitter hit)
- Habits of Best Organized People
- Switzerland Remains the most Competitive Country
EBICS Versus SWIFT: Country-specific Requirements
In our latest podcast, Martin Schneider discussed Bank Account Access in Central Europe, including new and upcoming standards and requirements that determine how corporates access their bank accounts in Switzerland and its surrounding countries. Listen to podcast #4… (5:10 minutes)
The video overview in a few lines:
- Germany/Austria are status: EBICS and VEU (verteilte elektronische Unterschrift)
- Switzerland: EBICS today only via UBS/CS/Postfinance, No VEU, Transport-Signature only. The reason behind is explained in the video
- France: EBICS: Transport-signature which can be added with a manual personal authorization
- Spain/Portugal: EBICS planned?
If you have any questions about bank accounts access in Europe, feel free to call Martin at 044 814 2001.
‘fit for treasury’ Event, 18.9.2014 in Salzburg
Tomato und Reval führen die zweite“fit for treasury” Veranstaltung am 18. September 2014 in Salzburg durch. An dieser kostenlosen Veranstaltung können Sie Anwender und Experten vor Ort zum Erfahrungsaustausch treffen und die Themen beim Apéro vertiefen!
Datum: 18. September 2014 von 16:30 bis 19:00 Uhr, anschliesslich Apéro
Ort: Wyndham Grand Salzburg Conference Centre
Details und Anmeldung…
SEPA 2014: Mission Accomplished - What Now?
After years of preparations, SEPA went into effect on August 1. The European Central Bank (ECB) has called it "one of the largest financial integration projects in the world".
In SEPA 2014 and Beyond: Generate the Efficiencies and Stay Engaged in the Debate, Javier Santamaria, European Payment Council (EPC), explains that SEPA is a work in progress and describes the specifics of SEPA deadlines that will apply in 2016.
(GTNews requires registration which is free)
Visit our summaries on SEPA:
English: SEPA Schedule and SEPA – Time to Act
Deutsch: SEPA-Vorteile und SEPA im ZV
Opportunities to Improve Cash Management Efficiency
A treasurer’s job is to secure short- and long-term funding as well as to make sure that cash reserves are invested to obtain maximum return. While optimizing liquidity and cash flow is a huge challenge, treasurers need to look beyond challenges to make sure they don’t miss opportunities.
In the GTNews article Seizing the Opportunities to Improve Cash Management Efficiency, Frank-Oliver Wolf, Commerzbank, explains that innovations such as SEPA, emerging technologies as well as banking products and services offer opportunities in five areas: “reducing complexity, improving liquidity, overcoming borders, optimising interest and enhancing transparency.” Details… (registration required, free)
How Can CIOs Thrive in a Changing Environment?
In this CIO.com article Tom Kaneshige, a senior writer for CIO.com, suggests that CIOs must be able to effectively work together with various departments, connect corporate silos, ensure customer-focus, become agile and use the power of data analytics. Full story…
Everyone in business has some annoying issues that don’t go away. Michael Fimin, CEO for Netwrix, keeps hearing these issues on a regular basis:
- Security threats and how to handle risks
- Compliance regulations evolve and tighten all the time
- BYOD (Bring your own device): There are too many device types so CIOs need a universal solution from mobile industry players.
- Migration to the cloud. Many solutions are not fully developed yet.
- To get rid of existing legacy infrastructure and introducing new technologies requires management skills and aligning resource allocation. This can’t be solved by technology.
Our most viewed Twitter post in August was Tapping the Power of Reverse-Mentoring in I.T. Venko Rao, CIO of GE Digital Energy, told that he meets with a “Millennial mentor, a 22-year-old early-career IT professional” once a month to talk about what she thinks he will interested in learning more about.
The mentor prepares slides on the topic she chooses and walks her boss through the basics. This type of interaction between young talent and their boss is educative and enriching for both parties. Details…
5 Steps to a Strong IT Culture
How can a manager boost his/her team’s morale, support teamwork, and cultivate a healthier organization.In Informationweek.com, Sandy Salty, of Trace3 in Irvine, California, offers these suggestions:
- Deal with lingering management issues in good and bad times.
- Ensure that your management team discusses and deals with any simmering differences that may cause a lack of focus and divergent agendas.
- Ask for help, especially from people outsider your direct peer group. It will encourage others to deal with shortcomings.
- Make sure people get to know one another even across different departments and jobs.
- Make sure that everyone understand each side’s priorities and is on the same page.
Things Most Organized People Do
These six steps Eric Barker, author of Barking Up The Wrong Tree, has compiled apply to individuals in any position and at any age. Following them help you staying calm and “in the moment” even in chaotic situations.
- Write down all to-do’s instead of keeping some in your head
- Lock in your calendar and set alarms so you don’t have to think about what’s next
- Handle information and tasks in “batches”; deal with information only when you need it.
- Decide where “good enough” is sufficient and focus on the big decisions
- Regularly update your to-dos and priorities
- Keep what you need on and around your desk – nothing else.
Work on this list and customize it to develop it into a personal system that works for you. Details…
Switzerland Remains the most Competitive Country
The Global Competitiveness Report released by World Economic Forum revealed that Switzerland is the most economically competitive country in the world for the fourth year in a row.
Contributing factors include a strong performance across the board and most notable Swiss innovation, the labor market, a sophisticated business sector, the quality of research institutions, etc.
Following Switzerland, the highest ranked countries include: Switzerland, Singapore. Finland, Germany, United States, Sweden, Hong Kong, Netherlands, Japan, United Kingdom, Norway, Taiwan, China.
From the Desk of Regula Spottl, Greensboro, NC
Warren Bennis, the Father of Leadership passed away last week
Peter Drucker, known as the father of management, passed away in 2005. Warren Bennis, who is considered the father of leadership, passed away last week. Both are my gurus in their field.
Bennis was the first to characterize leadership as not a genetic trait but the result of the lifelong process of self-discovery. That process enables people to become fully integrated human beings who know themselves and bring out the best in others.”
Bennis’ classic On Becoming a Leader, describes the qualities of a leader: “driven, values-centered, passionate, and resilient."
Obituary in Harvard’s newsletter...