TOMATO CATCH-UP - Newsletter Issue 195 – October 2016
Your monthly resource on working capital, process optimization and issues relating to the world of corporate treasurers, IT professionals and bankers!
This newsletter is bilingual, English or German according to the source.
Introduction:
Everything you do is the result of decision making. Most of the time, you have only so much information and not all of it is straightforward and complete. Your job is choosing the best possible solution based on importance, budget, manpower etc at the time. Having to make a decision that has far-reaching consequences is daunting. That’s why so many of us tend to procrastinate. We at Tomato can look at your situation from an outsider perspective with experience from various similar situations. Run yours by us so we can help you in the decision-making process. Feel free to contact martin.schneider@tomato.ch or call 044 814 2001.
Enjoy the variety of topics in this newsletter!
Regula Spottl
Topics
- Typical Project: Revamping the Treasury Department
- Structured Finance Kongress in Stuttgart am 23. / 24. Nov. Besuchen Sie uns!
- Rückblick KMU-Forum- Finanzielle Steuerung und Kontrolle in KMU
- Reform der Firmensteuern
- SAP-User Gruppe fordert eine Änderung des Preismodells von SAP
- Paul Krugman sprach an der Uni Zürich über die Zukunft der Europäischen Währungsunion
- Disparity between Corporate Requirements and Banking Objectives
- Managing Liquidity in a Drastically Changed World
- Managing Risk Stemming from Technology
- Advice for Leaders on Problem Solving Decision Making
Typical Project: Revamping the Treasury Department
By Martin Schneider
A recommendation in Linkedin.com is more convincing than me explaining a typical project and its success. Here’s an example:
“Go as far as you can see; when you get there, you'll be able to see farther.
In 2010, [the company] recruited Martin Schneider to support me as project manager for revamping the treasury department from scratch and based on an existing treasury policy. The decision to hire Martin, Head of Tomato AG in Kloten, as consultant hugely paid off. After a thorough analysis, he initiated the search for the best suitable TMS for [the company's] infrastructure and requirements.
Parallel ongoing was the project for a new group-wide SAP solution. After the RfP for the TMS, the decision led to SAP-TRM-Module together with SAP-BCM to monitor our group-wide account payables and receivables at the headquarter. Two EBICS gateways where chosen and built and connected to wo mayor house banks. Within four years we achieved the goal of choosing and installing a Netting, two cash pools, reducing the many existing bank relations with saving bank fees; and last, we also decided for a the EPROX Liquidity Manager to plan and forecast cash from day one for three years ahead. In [our] industry, three years planning ahead is of major importance. The roll-out included the definition of structures and training of the finance staff of our local entities. All our processes and documents were defined jointly by Martin and me. For [the company] and for me, hiring Martin is a great success story.“
See the recommendation in my Linkedin account, scroll down to “Recommendations”
I’ll will be happy to discuss any project as it applies to your environment. Contact me via martin.schneider@tomato.ch or call 044 814 2001.
Structured Finance Kongress in Stuttgart am 23. / 24. Nov. Besuchen Sie uns!
Wie im letzten Newsletter angekündigt, werden wir auch dieses Jahr am Structured Finance Kongress vom 23. / 24. November in Stuttgart teilnehmen. Programm…
Falls Sie einen Besuch planen, jedoch noch keinen Termin mit Martin Schneider gemacht haben, reservieren Sie sich einen Zeitslot via martin.schneider@tomato.ch oder +41 44 814 2001. Er wird gerne mit Ihnen Fragen besprechen, die Ihre Firma speziell betreffen. Z.B. währungsgetrennte Liquiditätsplanung, strukturierte Bankrelationen, vereinfachte Zahlungskanäle mit Ihren Partnerbanken, das Optimieren des Konzern Geldfluss mit Einbezug von TMS und Hausbanken, Treasury Manuale oder Berichtswesen, das Forderungsmanagement zentralisieren ins Treasury usw.
Nehmen Sie während Ihrem Besuch auch eine Tomato Tasse mit dem Slogan „Keep your liquidity high“ mit als ein Liquidität-Mahnmal für Sie und den Betrieb.
Rückblick aufs KMU-Forum: Finanzielle Steuerung und Kontrolle in KMU
Am 12. September 2016 fand am Institut für Finanzdienstleistungen Zug IFZ das KMU-Forum mit Thema “Finanzielle Steuerung und Kontrolle in KMU” statt.
Am Forum wurde erstmals die KMU-Benchmark vorgestellt. Dabei handelt es sich um eine Plattform, die KMUs ein online-basiertes Assessment des Status Quo Ihrer Steuerungs- und Kontrollmassnahmen bietet und das mit anderen Unternehmen vergleichen lässt.
Weitere Informationen zum KMU-Benchmark finden Sie in der Medienmitteilung der Hochschule Luzern.
Im Blog Rückblick KMU-Forum finden Sie Details über die verschiedenen Referenten und deren Beiträge.
Bei der Unternehmenssteuerreform III (USR III) geht es ums Weiterentwickeln des schweizerischen Steuersystems und gleichzeitig um die Wettbewerbsfähigkeit Schweizer Firmen zu stärken.
Die Reform ist complex. Einen guten Überblick gibt der Beitrag von Hansruedi Schöchli in der NZZ vom 18. Juni 2016 "Reform der Firmensteuern: Was Stimmbürger wissen müssen".
Ein weiterer Bericht von Hansruedi Schöchli in der NZZ vom 21. August: Wenn 24 000 Schweizer Firmen ihre Steuerprivilegien verlieren
Weiterführende Informationen befinden sich auf der Website des Bundesparlamentes (15.049 - Unternehmenssteuerreform III).
SAP-User Gruppe fordert eine Änderung des Preismodells von SAP
Die SAP Anwendergruppe aus DACH (DE, AT, CH) traf sich zum Jahreskongress. Die Gruppe besprach Erwartungen an SAP. Lesen Sie hier das Interview mit dem Vorsitzenden Andreas Oczko.
Paul Krugman sprach an der Uni Zürich über die Zukunft der Europäischen Währungsunion
In einer öffentlichen Vorlesung an der Universität Zürich referierte der US-Ökonom Paul Krugman an der Universität Zürich über die Zukunft der Europäischen Währungsunion. Er resümierte: “Kann der Euro gerettet werden? Ja. Wird er gerettet werden? Ich habe meine Zweifel”. Finanz und Wirtschaft berichtete über Krugman’s Vorlesung. Details…
Krugman has elaborated on this topic for some time. For example, in 2015 Forbes Magazine published “Paul Krugman Is Right Again: It's The Euro Itself That Is The Problem; and on June 19, 2016 Forbes Magazine published Paul Krugman Is Entirely Right About The Disaster That Is The Euro Here.
Disparity between Corporate Requirements and Banking Objectives
The annual global transaction banking survey, conducted by CGI and published by GTNews assesses the view of both corporates and banks.
This year’s findings show a clear and significant drop in corporate satisfaction in the bank-to-corporate relationship. In fact, it revealed that corporates increasingly turn to non-bank providers for key products and the right banking partners.
Banks have a short window to address these findings. The question is will they be fast enough to respond and will non-bank providers show considerable increases in penetration? writes Madhvi Mavadiya of CGI.
Summary of the findings and link to free copy of the report…
Managing Liquidity in a Drastically Changed World
Various new drivers are affecting a changed financial environment. This requires that treasurers better understand the diverse changes in regulation, economics and the market environment and possibly revise the organization’s investment policies.
In the GTNews article, Adapt and survive: managing liquidity in a radically changed world, Lisa Rossi of Deutsche Bank summarizes the changed environment and offers suggestions for treasurers.
The article is based on a newly-published white paper from Deutsche Bank Global Transaction Banking, ‘Liquidity Management: Thriving in a new world’.
Managing Risk Stemming from Technology
Addressing technological risks is a critical part of enterprise risk management. CFOs are already familiar with attending to traditional financial and operational risk factors. Taking on cyber security management expands their role even further.
Data that could warn about potential risks are typically scattered across different departments. Therefore, the right tools and structure to connect data points are crucial to manage risk.
The newsletter article published by the Wharton School of Business includes apart from research and analysis a Risk Management To-do List. Details…
Advice for Leaders on Problem Solving and Decision Making
Dr. Nido Qubein, President of High Point University, a prestigious university close to where I live, responds to students’ questions on Facebook. Here’s good advice for anyone in the business world.
The student asked: What are the steps you use as a leader when solving problems and when making decisions?
Dr. Qubein responded: “Delegate responsibility and accountability. Empower those below you on the organizational chart. You’ll be surprised at the wisdom they display, and at the burden they’ll lift from your shoulders.”
From the Desk of Regula Spottl, Greensboro, NC, USA
Last week, I visited Vermont and upstate New York, Lake George and Lake Champlain. I’ve heard for years how beautiful the “Indian Summer” is. It’s period of unseasonably warm, dry weather that sometimes occurs in New England and other parts in the fall after a frost. Similar to Altweibersummer? I have never seen the fall colors this vibrant: the red maples and yellow oaks especially. See some photos here
Also interesting about eastern upstate New York is the slate industry which borders Vermont and is about 35 km long and 8 km wide. It boomed in the 1830s and is still going strong today. The Slate Valley Museum in Granville features Oral Histories and a 1 minute film about New York’s path of the slate industry through history. Life was tough but immigrants from Europe didn’t shy away from the harshest working conditions. We don’t know how easy life is for us in comparison!