Managing cryptocurrency is not the same as managing traditional currencies, such as the U.S. dollar or the euro. While traditional currency is held in and processed via bank accounts, cryptocurrency is managed via cryptocurrency wallets. Treasurers need to pay close attention to understanding the risks as they develop crypto strategies for their organizations.
It can be easy to overlook the importance of staffing in a regular business continuity plan. The focus is often on the “what, where and how” — what needs to be done, where the decisions will be made, and how processes and procedures can be followed. The “who” is more difficult to plan for, as each staff member is an individual, with particular, and changing, skills, knowledge and experience, complicating the task of ensuring the people side of the business continuity plan is kept up to date.
In a meeting with treasury professionals from the Asia-Pacific (APAC) region, Tom Hunt, AFP’s director of treasury and payment services, gathered some interesting takeaways about their current challenges and strategic focuses around foreign exchange and working capital management.
The momentum toward a digital-first strategy continues to accelerate, as companies look to stay competitive and relevant in the current business environment. At the same time, the technology landscape continues to grow with innovative technologies that are available now or just on the horizon.
While there is no one right way to visualize data, pairing a method that complements your message is key to effective delivery. As a fun exercise leading into Thanksgiving in the United States, we invited four data visualization experts to create charts related to the holiday and explain the choices they made in their visualization.
Like the rest of the globe, the Middle East and Africa (MEA) region is facing economic challenges in the form of increased interest rates, absence or scarcity of credit and working capital, and trying to build an accurate forecast in the midst of it all. To better understand the effects of the current economic environment on the MEA region, we spoke with treasury professionals in the region, via a discussion led by Tom Hunt, AFP’s director of treasury services and payments.
It was an internship with the Nestlé Regional Treasury Center in Singapore, as part of their FX and Risk Department, that first introduced Shawn Xu, CTP, to the world of corporate treasury. “The team was very forthcoming and gave me a good overview of the role a corporate treasury department plays in an organization,” said Xu.
The AFP FP&A Mini Case Study series is designed to help you build up key FP&A capabilities and skills by sharing examples of how leading practitioners have tackled challenges in their work and the lessons learned. In this case study, a senior-level FP&A practitioner at a leading global provider of insurance shares how creating one source of truth for metrics, from one data source, using one platform, allows the company’s managers to compare themselves against their peers, making change management occur at a much faster rate.
The career path of Scott Corvey, FPAC, is a compelling lesson in the value of continuous learning throughout a career. Scott, a member of AFP’s North American FP&A Advisory Council, shared with AFP the story of the rise of his career in accounting, his decision to transition to FP&A, and how accounting and FP&A skill sets work so well together.
For most treasurers, having to manage cryptocurrency is a question of timing. While only a small proportion of companies already accept cryptocurrency, most recognize that this will change, perhaps in the very near future. And when it does, companies that are crypto-ready may have a competitive advantage over those that are not.
It has been almost two decades since we were introduced to the phrase, “data is the new oil.” And while data permeates every facet of life and work, many of our AFP members tell us they still struggle to get their data right.
What does a career in treasury and finance look like to students or people who are just starting out in the workforce? If they’ve never been exposed to that world, it is a complete unknown. In fact, it’s likely not even on their radar.
Developing and updating business continuity plans is an important part of risk management. It allows companies, and individual departments, to think through various scenarios and set out procedures to cover those eventualities. One such scenario is staff shortage, which can occur due to planned absence or longer-term reasons, such as multiple resignations.
The struggle to find and secure FP&A talent is real. How do employers identify the FP&A talent they want — and improve their chances of hiring them? How can applicants identify quality employers — and increase their chances of landing a great role?
AFP is proud to introduce the new chair and vice chairs of the Board of Directors, as well as some new directors.
As part of our series profiling individual council members, AFP’s Director of FP&A Practice Bryan Lapidus, FPAC, recently sat down with Sultan Mujallid, FPAC, to talk about his 16+ year career journey in FP&A, how the FPAC certification empowered his career, and what he is looking forward to as a member of the AFP Middle East and Africa FP&A Advisory Council.
Check usage continues to decline for business-to-business (B2B) payments in U.S. and Canada (North America), falling to an all-time low of 33% since AFP began tracking this data in 2004, according to the 2022 AFP Digital Payments Survey, underwritten by J.P. Morgan.
Marsh McLennan was announced the winner of the AFP 2022 Pinnacle Awards Grand Prize for excellence in treasury and finance. The Pinnacle Grand Prize, sponsored by MUFG, was presented during AFP 2022 in Philadelphia, Pa.
The AFP FP&A Mini Case Study series is designed to help you build up key FP&A capabilities and skills by sharing examples of how leading practitioners have tackled challenges in their work and the lessons learned. In this case study, the regional head of FP&A at a global pharmaceuticals manufacturer shares how robotic process automation (RPA) saved the FP&A team time to work on tasks that added value to the company.
Asif Masani is a familiar face in the FP&A world, helping over 40,000 LinkedIn followers develop essential FP&A skills. He maintains a full-time job at Coursera as a financial planning and analysis manager, and he is a speaker at AFP’s FP&A Series: Get Your Talent Right. AFP’s Director of FP&A Practice Bryan Lapidus, FPAC, recently sat down with Masani to discuss how he began writing content for fellow practitioners, the challenge of maintaining agility while growing as a company, and the importance of having the right mindset to become a finance business partner.
In a recent webinar, we explored the three keys to treasury optimization, which contributes significantly to a team’s effectiveness as a strategic business partner to its organization, C-suite and board of directors. Here we provide you with some basic tenets of each key, as well as some practical examples of how these keys were implemented.
The Covid-19 pandemic has clearly accelerated the global migration to digital payments. There is now unmistakable evidence of a gradual shift toward their adoption. You can expect ‘new’ payment methods, such as digital wallets and QR codes, to grow in popularity globally in future years. However, that is for the future and regional differences remain.
Any increased use of real-time payments will likely mean a shift away from another type of payment, with an established set of procedures and, consequently, a different exposure to risk.
AFP and Amazon have partnered to provide college students and young professionals with resources to help launch and develop their careers in treasury and finance, as part of AFP’s Diversity, Equity and Inclusion (DEI) Awareness Initiative for Treasury and Finance.
FP&A has an opportunity to lead the charge as a real-time data analyst, trusted advisor and skilled communicator. To get there, however, FP&A will need to upgrade its tools and create new capabilities for finance, ultimately forming new operating models for how FP&A delivers its services to the company.
Improving payment processes and working capital improvements are the two most challenging tasks facing treasury professionals today, according to the 2022 AFP Strategic Role of Treasury Survey, supported by Marsh McLennan.
Catherine Jirak is an industry veteran at the intersection of finance and technology, having worked on one of the first major transitions to finance automation at a Fortune 500 company and continuing as the founding partner of QueBIT consulting, an enterprise performance management implementer. AFP’s director of FP&A practice, Bryan Lapidus, recently caught up with Jirak to talk about the evolving relationship between finance and technology, the biggest challenge with data today and the future of emerging technologies in finance.
‘Just being proactive in taking on new responsibilities’ is what Kevin Ng might say about the opportunity that led to his career in treasury. He started out by volunteering to forecast global procurement cashflow and paying the global suppliers for SVP Worldwide. The global CFO at that time was heavily involved in day-to-day treasury operations, and the complex cashflow forecast model helped get Kevin noticed in the organization.
All organizations know the importance of managing cash and working capital; without them, organizations simply cannot exist. Yet, when targeting growth, too many organizations focus on trying to increase sales or reduce supplier costs, while ignoring the potential benefits of efficient working capital management.
In a recent webinar hosted by AFP, Moody’s, a global integrated risk assessment firm, provided in-depth insight into how corporate credit fundamentals are evolving at a high macro level, the crossover zone, and which areas are most vulnerable to adverse developments in the credit cycle.
Morgan Stanley has joined AFP’s Diversity, Equity and Inclusion (DEI) Awareness Initiative for Treasury and Finance, which helps college students and young professionals from underrepresented communities pursue careers in treasury and finance.
AFP announced the formation of its new Middle East and Africa (MEA) Financial Planning & Analysis (FP&A) Advisory Council. The objective of the Council is to provide subject matter expertise and guidance to ensure that AFP delivers products and services that meet the needs of the corporate finance community in the MEA region.
The transition in recent years to a virtual/remote environment has changed the way we work and communicate. Workplace trends indicate that a remote or hybrid work environment is here to stay, at least for the foreseeable future.
Real-time payments represent a step-change in the evolution of payment instruments. Although they are often viewed as just another type of faster payment, they have some distinct characteristics that stand them apart from others, such as Same-Day ACH.
The AFP FP&A Mini Case Study series is designed to help you build up key FP&A capabilities and skills by sharing examples of how leading practitioners have tackled challenges in their work and the lessons learned. In this side-by-side comparison of two cases, a senior-level FP&A practitioner tells the story of working on two very different acquisitions.
As part of our APAC FP&A Advisory Council series profiling individual council members, AFP’s Director of FP&A Practice Bryan Lapidus, FPAC, spoke with Sai "Giri" Giridhar, Finance Director at Shell Energy India.
AFP is thrilled to announce that J.P. Morgan is joining our Diversity, Equity and Inclusion (DEI) Awareness Initiative for Treasury and Finance, which introduces corporate treasury and finance careers to underrepresented communities.
The power of statistics is the ability to understand the world and make meaning from the increasing piles of data that accumulate around us. Statistics is a critical tool to work with data, interpret key messages, make predictions and take action upon that wealth of data.
Most job interviews are going to occur online for the foreseeable future. Even after the pandemic ends, many companies will continue to work remotely and you should get used to interviewing in front of a computer screen. The following tips will help you on your next interview, whether it’s virtual or in-person.
As a member of AFP’s FP&A Advisory Council, Hector Rubalcava, FPAC, is able to gain a clear understanding of the needs and challenges other FP&A professionals are dealing with, and he is then able to take their advice and insight and apply it to his own organization. “If you were to ask me for a list of everything I've been able to roll out, it's a very long one with many success stories.”