TOMATO CATCH-UP - Newsletter Issue 203 – August/September 2017
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:
How can you make the second half of 2017 a success for yourself and your company? These are points you already know. Still! Do what’s important over what’s urgent. Be up to date on regulations. Give priority to the most important project over lots of little improvements. Delegate! Understand/work with your boss, peers and subordinates to avoid ambiguities. Do they understand the situation the way you do or how do they interpret it? Take your days off to recharge your batteries any way that works best for you. And remember, you can call on us if you need someone who can look at your situation from an outsider perspective and who has experience from various similar situations. We can help you in the decision-making process. Feel free to contact martin.schneider@tomato.ch or call 044 814 2001.
Regula Spottl and the Tomato Team
Topics
- Issues You May Face during 2nd Half of 2017
- FinfraG News
- Wie das EU-Datenschutz Schweizer Firmen betrifft
- Neuer Leasing Standard IFRS 16: Was CFOs wissen sollten
- SEPA Credit Transfer Instant ab 21.11.2017
- Wie sehen Schweizer Unternehmen die Industrie 4.0?
- PSD2: Opportunities for Treasury Innovation
- Developments toward Real-Time International Payments
- Technology Use at Work: Strategies to Prevent Burnout
- How to Survive a Bully at Work
Issues You May Face during 2nd Half of 2017
- Treasury Manuals: Do you need to replace/update yours or create a new Treasury Policy?
- Are payment gateways and global corporate group-wide payments an issue as it is for many of our clients?
- Is TMS evaluation and/or proof of adding payment modules an issue? How about the implementation of payment gateways between the ERP such as SAP and TMS. Check our website for Decentralized Payment Factory (E) or Dezentrale Payment Factory (D) for details.
- Is the replacement of local e-banking with one central e-banking solution where all corporate entities have access and all bank signatures are held in one system an issue?
Details to these issues from the January newsletter…
- Are you current on the EMIR and FinfraG reporting? Also upcoming SEPA transfers in non-Euro countries (in SE, PL, CZ, HU etc.) and SEPA Instant Payments? See below our article on SCT INST.
Contact Martin for any of these or other issues! martin.schneider@tomato.ch or call 044 814 2001
Seit 1. August ist die revidierte Finanzmarktinfrastrukturverordnung (FinfraV) in Kraft. Die schweizerischen Vorschriften zum Austausch von Sicherheiten sind an die nunmehr feststehenden Regelungen der EU angeglichen.
“Die Verordnung enthält unter anderem Ausführungsbestimmungen zur im Finanzmarktinfrastrukturgesetz (FinfraG) geregelten Pflicht, für OTC-Derivatgeschäfte, die nicht über eine zentrale Gegenpartei abgerechnet werden, Sicherheiten auszutauschen.”
Medienmitteilung des Bundesrates vom 5.7.2017
Do you prefer English?
Swiss Federal Council brings Financial Market Infrastructure Ordinance amendment into force
Wie die EU-Datenschutzgrundverordnung Schweizer Firmen betrifft
Letztes Jahr verabschiedete die EU die neue Datenschutzgrundverordnung (DS-GVO). Dieses neugestaltete und vor allem striktere Datenschutzgesetz betrifft weltweit internationale Unternehmen, die Daten von EU-Bürgern verarbeiten. Bereits implementierte Datenschutzprogramme müssen bis zum 25.5.2018 umgestellt werden.
KMPG’s Matthias Bossardt und Jutta Sonja Oberlin erklären, wer betroffen ist, was neu ist, mit welchen Auswirkungen Unternehmen rechnen und wie sie sich für die Änderungen vorbereiten müssen. Details…
Computerworld publizierte eine Zusammenfassung.
See also GTNews published in the Tomato July newsletter: EU Data Legislation Reform: Expected Changes
Neuer Leasing Standard IFRS 16: Was CFOs wissen sollten
IFRS 16 Leases, an accounting standard issued by the IASB in January 2016, will go in effect for annual reporting periods beginning on January 1, 2019. The core concept of the new standard is a uniform accounting model that covers all assets and liabilities from leasing agreements.
In her expert blog, Patricia Bielmann, KPMG, illustrates various options for businesses and their potential impact. Details…
Ziehen Sie deutsch vor?
Deloitte: IFRS 16: Noch ist Zeit – aber die Uhr tickt. Was CFOs und Finanzvorstände jetzt wissen sollten!
SEPA Credit Transfer Instant ab 21.11.2017
Nationale Systeme für Instant-Zahlungen werden in mehreren Ländern entwickelt oder sind bereits im Markt. Weltweit in Australien, Brasilien, Chile, China, Indien, Japan, Kanada, Korea, Mexico, Singapur und Südafrika.
In Europa haben folgende Länder nationale Lösungen entwickelt: Dänemark, Grossbritannien, Polen und Schweden.
SCT Instant Transfer (SCT INST), ist ab 21. November 2017 das SEPA-Überweisungsverfahren für die Abwicklung von Überweisungen in Echtzeit im SEPA-Raum. Das Projekt des EPC definiert für SEPA Instant Payments:
- Währung: nur Euro
- End-to-End-Verarbeitung innerhalb von 10 Sekunden
- Höchstgrenze: 15'000 Euro
- Verfügbarkeit: 24/7/365
- In allen 34 SEPA Ländern
Ab 21. November 2017 können Sie Instant Transfers durchführen.
Tomato: Wir testen diesen neuen Sofort-Zahlungsverkehr und halten Sie auf dem Laufenden. Lesen Sie dazu das Wiki auf iso-20222.ch
Wie sehen Schweizer Unternehmen die Industrie 4.0?
Die Industrie-4.0 Studie, für die DMX 100 Industrie-Manager in der Schweiz zu den Chancen und Risiken der smarten Fabrik der Zukunft befragte, ergab:
- 70 Prozent der Schweizer Industrie-Manager halten die Transformation zur Industrie-4.0 für wichtig.
- Unternehmen halten jedoch stark an traditionellen Denkmustern fest und zögern, neue Geschäftsmodelle zu entwickeln.
- Dabei ist für 65% der Befragten die Kostenoptimierung das Wichtigste für den internen Einsatz digitaler Technologien.
Martin Schneider:
Immer wieder bespreche ich mit CFOs and Treasury, dass Industriefirmen hochintelligente und durchdachte Prozesse in ihren Industrieanlagen haben. Wenn wir auf Prozessoptimierung in Financial Flow Management zu sprechen kommen, erkennen wir ein enormes Optimierungs-Potenzial. Fragen Sie uns, wie „Industrie 4.0 in ihren Finanzprozessen“ aussehen könnte. martin.schneider@tomato.ch or call 044 814 2001
PSD2: Opportunities for Treasury Innovation
The European Union’s new Payment Services Directive PSD2 will go into law on Jan. 13, 2018. PSD2 is a regulatory framework addressing the ambiguity in the current PSD1 and also covering newer services.
In the Tomato January 2017 newsletter, we pointed to the Fintechnews.ch article EU’s Payment Services Directive (PSD2): What It Is And Why It Matters.
A recent GTNews article suggests how corporate treasuries will be able to take advantage of the directive. For example, corporate treasuries could insist on using direct PSD2 access to their EU bank’s core system to establish efficient and cost effective account information and cash management services. Details with more opportunities…
Developments toward Real-Time International Payments
At the Money 20/20 conference in Copenhagen, over 400 speakers introduced the various regulations, systems and services that promise to make cross-border transactions faster and more convenient. (Highlights of the three days events, (3 short videos at 5 mins or less)
In her GTnews article, Lee McDarby of Moneycorp, who attended Money 20/20, described developments such as SEPA instant credit transfers (SCT Inst), the second Payment Services Directive (PSD2), a new ISO2002 standard, the SWIFT global payment innovation (gpi) service and Blockchain.
The fintech arena is vibrant. However, the key will be collaboration within the finance sector as well as among new players, suggests Ms McDarby. Details…
Technology Use at Work: Strategies to Prevent Burnout
At work, many people pick up emails within less than a minute after receiving them. Some have little choice since they are expected to be available almost around the clock. However, some companies and countries in Western Europe have taken measures to curb emails to avoid employee burnout.
In his book Irresistible: The Rise of Addictive Technology and the Business of Keeping Us Hooked, Adam Alter, a social psychologist and Associate Professor of Marketing at New York University’s Stern School of Business, illustrates some countries’ and companies’ email strategies. Examples include:
- Daimler Chrysler "Mail on Holiday" issues a reply to the sender that the person is out of the office and that the email will be deleted, and if it’s a pressing matter, it can be forwarded to another employee. Details…
- Some companies batch emails, releasing them three times a day only with a response to the sender to that effect. They do this to avoid constant interruptions.
- Since the beginning of 2017, a French law establishing workers’ “right to disconnect” requires companies with more than 50 employees to establish hours when staff should not send or answer emails. Details…
How to Survive a Bully at Work
Work in itself is hard so having do work with bosses or colleagues that are rude or abusive makes it even harder.
Robert Sutton, a professor of management science at Stanford University and author of “The Asshole Survival Guide: How to Deal With People Who Treat You Like Dirt,” to be published in September, offers various techniques for avoiding, outwitting, and disarming assholes. Find a step-by-step guide on Bob Sutton’s blog titled Latest Tips for Surviving Workplace Assholes.
From the Desk of Regula Spottl, Greensboro, NC, USA
For us in North Carolina and much of the U.S., by far the most exciting recent event was the total solar eclipse. We in Greensboro were about 100 miles north of total exposure, so really close. Stores and organizations ran out of glasses well before the big day. Many schools were closed. Companies complained about the loss of productivity that day.
Anyway, we were all ready for it. Well, exactly when the solar eclipse happened, we had a downpour and saw nothing. This after we have not had a drop of rain for 3 weeks.
However, every TV station followed the eclipse from the west coast past North Carolina ending in Charleston SC. We sat riveted in front of the TV; it was incredible!
Here are some photos of the event… and download some if you wish. However, some interesting photos have been already removed.