President Obama gave treasury and financial professionals some assistance in their fight against cyberattacks when he signed an executive order establishing the first sanctions program to impose penalties on individuals and organizations outside the U.S. involved in cyberattacks and commercial espionage online.
An interview with Hein Wulf, Head of Philips Healthcare’s Healthcare FP&A Center of Excellence in Eindhoven, Netherlands. Wulf was tapped to serve on the 2015 AFP Financial Planning & Analysis Leadership Summit Task Force.
A key problem for treasury departments making electronic payments is that the remittance information does not travel with the actual payment. There are options available for matching payments and remittance information, however, these carry their own complications and shortcomings.
An American Management Association survey found that nearly 43 percent of treasury and finance professionals believe the biggest external hurdle in achieving their business goals this year is the introduction of new regulations.
Cyberinsurance may be the most important commercial general liability insurance policy of this century. As a corporate treasury or finance professional, you are probably thinking about changing your insurance budget to include cyberinsurance. But where should you start?
Wire fraud is on the rise due to business email compromise (BEC) scams. In an exclusive video interview, David Neshat, treasurer for Akamai Technologies Inc., explains how treasury teams can recognize these scams and avoid making mistakes that could cost their organizations millions of dollars.
3G is likely to apply zero-based budgeting to help cut costs in the merger between Heinz and Kraft. But the technique is impractical for most companies, according to financial planning and analysis (FP&A) experts.
This month, Futures in Finance turns its attention toward communication across the organization. We look at how effective communication is critical for treasury and finance professionals as they become involved in strategic planning, and more.
Here are 15 crucial career tips and pointers that allow jobseeking treasury and finance professionals to compete on a level playing field and pull ahead of the competition. Following these guidelines should allow you to be judged on the basis of factors that you can win on.
U.S. multinationals are struggling to protect their net income from the increased volatility in the currency markets. A new CTC Executive Perspective offers a detailed outline of five ways treasurers can protect company earnings from FX swings.
CFOs and treasurers are now charged with driving strategic planning and often serve as the glue across functions and business units. But employees are not mind readers. Strategy communication is indispensable to execution and performance.
Treasury and finance professionals are confident that EMV technology will greatly aid their efforts in the fight against credit and debit card fraud, according to a new survey by AFP. However, respondents favor chip-and-PIN cards over chip-and-signature, given the added layer of security.
Target has agreed to pay up to $10 million to settle a class-action lawsuit over its 2013 data breach. This latest development should serve as a cautionary tale for corporate treasurers whose companies handle customer information.
Have planned money market fund (MMF) reforms affected your approach to investing? Should you consider moving assets into separately managed accounts (SMAs)?
As CFOs attempt to deliver a wide range of expectations, such as improved forecast accuracy and faster data, transforming financial planning and analysis (FP&A) is often essential.
NACHA has posted the results of its request for comment (RFC) on its Same Day ACH initiative. An overwhelming majority of respondents, including corporate treasurers, support NACHA’s approach.
The Federal Reserve has opened registration for two task forces intended to help create a faster and more secure U.S. payments system, and treasury and finance professionals are encouraged to get involved. Also this month, we take an in-depth look at two significant Apple Pay costs that retail treasurers should be paying attention to.
In AFP’s new Guide to Shortening the Budgeting Cycle, sponsored by Workiva, FP&A practitioners and experts had plenty to say. Here are some of the best ideas on shortening and improving the budgeting process.
Email scams requesting fraudulent wire transfers, as well as phishing emails, continue to be a major issue for many treasury organizations. These issues came up during last week’s meeting of AFP’s Treasury Advisory Group (TAG), and members discussed the methods they have employed to overcome them.
AFP's new guide, The Missing Links in Investment Analysis, developed by Oliver Wyman, examines how treasury executives can build a portfolio management strategy that makes major investments and acquisitions actually work.
The Federal Reserve has opened registration for two task forces that will help the Fed in its efforts to speed up and secure the U.S. payments system. This initiative is a great opportunity for treasurers to help shape of the future of payments in the U.S.
Cox Communications doubled its e-bill adoption rate in the last six months of 2014. To achieve this success, Cox built a core “mission statement” focused on driving paperless, while also bringing together its paperless and recurring ACH/debit strategies.
Risk acumen can help treasurers expand their role into broader operations and gain a holistic view of the organization. Here are four things treasurers are good at that make them more adept at measuring risk and, thus, good candidates to be their organizations' ERM champions.
Communications is critical in financial planning and analysis (FP&A). Simply put, to be effective, you must be a good storyteller. Here are the five guiding principles FP&A professionals should follow to be effective communicators.
In the latest video from AFP's In-Depth series, Bjarte Bogsnes, Vice President, Performance Management at Statoil and Chairman of the Beyond Budgeting Institute, discusses the biggest mistakes organizations make when it comes to budgeting and how Beyond Budgeting can direct them.
There are three building blocks of any successful FP&A end-to-end work process design: the creation of the future state process, alignment with C-level leaders to ownership over key steps in the process, and eventual rollout and implementation of the new work process to the broader organization.
This issue argues that no finance executive is better positioned to oversee enterprise risk management than corporate treasurers. Meanwhile, John Drzik, President, Global Risk and Specialties, Marsh, underscores the need to prepare for global risks. Finally, there's tips on fighting cybercrime.
The SEC's money market fund regulations don’t take effect until October 2016, but investment firms already are preparing new products. Meanwhile, investment managers tell AFP, few treasurers have begun to ponder the ramifications for their firms.
Culture is the company’s personality; it describes how work gets done, and is transmitted in the stories told by the team, the processes established, and the tone set by the top of the organization. Seen in this way, culture is a control on financial and operational processes.
The latest installment in AFP's Treasury in Practice series, underwritten by KeyBank, explores strategies that treasurers should consider as they make the shift from paper to electronic payments.
How often does your organization go back to evaluate how capital expenditures are performing? FP&A professionals can find multiple benefits in conducting PACE analyses (Project Assessment and Cash flow Evaluations).
Payments providers say they are concentrating their efforts on improving real-time retail payments and security. What’s driving this twin focus, and what should treasurers do in response?
Chicagoland FP&A professionals gathered for the AFP FP&A Roundtable, sponsored by Peloton Group, to discuss some of their biggest challenges in financial planning and analysis. FP&A professionals were most concerned with rolling forecasts, FP&A business partnering and talent acquisition, management and retention.
Most firms understand that financial planning and analysis is more critical than ever before. But how do you leverage FP&A in a strategic manner? And how do you find and train good FP&A staff? This issue looks at leadership and FP&A – and it offers insights on how to best combine the two.
In an era where so many processes have migrated to new, more efficient digitally driven alternatives, checks remain an analog anachronism. But now a new solution is emerging—the B2B Payments Directory from the Remittance Coalition.
Bad or missing reference data can cause payment failures that waste time and money and damage customer relationships. As such, corporate treasurers are demanding high-quality reference data.
Global risks are critical for treasury and finance professionals to understand. These risks can have a significant impact on the earnings potential of existing business activities and change the lens through which new investment opportunities are evaluated.
Need more proof that these are challenging times for FP&A professionals? On the day that AFP spoke with Zurich-based Andreas Schertzinger, Head Reinsurance FP&A, Managing Director, Swiss Re, the Swiss central bank abandoned its currency cap, and the resulting Francogeddon saw the CHF rise more than against the euro and dollar in one day.
Apple Pay has been the hottest topic in payments for months, but there are hidden costs that retail treasurers must weigh before jumping on the bandwagon.
In the latest video from AFP's In-Depth series, Rue Jenkins, assistant treasurer at Costco, discusses why EMV technology is really only effective in card-present transactions. He also weighs in on the things treasurers should think about when trying to improve cyberpayment security.