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ATEL/ BGL BNP Paribas Cash Management workshops – Second edition

On 27th June 2017, BGL BNP Paribas hosted the Luxembourg Association of Corporate Treasurers (ATEL) and 50 of its members for a set of three workshops on the theme ‘How to boost your payments’, covering the most important topics on Treasurers’ agendas.

The event was opened by François Masquelier, the Chairman of ATEL and Olivier Praneuf, Head of Cash Management and Trade Solutions at BGL BNP Paribas, both of whom spoke about a number of opportunities and initiatives currently impacting the payment function of Corporate Treasury Departments.

This was followed by three workshops and intense peer-to-peer discussions.

The first workshop on ‘Payments centralisation’ was given by Krisztina Filo, Treasury Project Manager at Guardian Industries and Jan Dirk van Beusekom from Client Advisory at BNP Paribas Cash Management. Guardian is one of the largest producers of value added glass. Krisztina presented the advanced payment centralisation solution managed from Luxembourg and implemented by Guardian across the EMEA region. Jan Dirk focussed on the most important objectives of a treasury: Visibility and control, Security and speed of processes, and Costs and Liquidity.

The main conclusions drawn from the workshop and the peer-to-peer discussion that followed were:

• A majority of corporates centralise Accounts Payables

ATEL/BGL BNP PARIBAS Cash Management workshops – Second editionOn 27th June 2017, BGL BNP Paribas hosted the Luxembourg Association of Corporate Treasurers (ATEL) and 50 of its members for a set of three workshops on the theme ‘How to boost your payments’, covering the most important topics on Treasurers’ agendas.The event was opened by François Masquelier, the Chairman of ATEL and Olivier Praneuf, Head of Cash Management and Trade Solutions at BGL BNP Paribas, both of whom spoke about a number of opportunities and initiatives currently impacting the payment function of Corporate Treasury De-partments. This was followed by three workshops and intense peer-to-peer discussions.

The first workshop on ‘Payments centralisation’ was given by Krisztina Filo, Treasury Project Manager at Guardian Industries and Jan Dirk van Beusekom from Client Advisory at BNP Paribas Cash Management. Guardian is one of the largest producers of value added glass. Krisztina presented the advanced payment centralisation solution managed from Luxembourg and implemented by Guardian across the EMEA region. Jan Dirk focussed on the most important objectives of a treasury: Visibility and control, Security and speed of processes, and Costs and Liquidity.

The main conclusions drawn from the workshop and the peer-to-peer discussion that followed were:

• A majority of corporates centralise Accounts Payables

• Control and visibility remain key elements

• Automation, innovation and centralisation will lead to more efficiency and less costs. This will also minimise the possi-bilities of paper payment fraud

The second workshop on ‘The risk and the solutions to pre-vent fraud’ was given by Jean Everard, Head of Operational Risk and Control at BGL BNP Paribas, who spoke about the various methods of fraud, from forged paper instructions to how fraudsters gather information used to defraud busi-nesses through highly sophisticated Social Engineering sche-mes. Jean also discussed how BGL BNP Paribas prevents, detects and investigates fraud attempts. The main conclusions drawn from the workshop and the peer-to-peer discussion that followed were:

• Forged paper instructions are the most common form of fraud

• Complex social engineering frauds have the biggest financial impact

• Corporates and Banks need to find the right balance between vigilance and speed of execution

The third workshop on ‘Innovation with SWIFT gpi’ was given by Alexander Klinke, the Global Head of Treasury at Den-nemeyer a company that maintains millions of patents and trademarks for its clients and Damien Godderis from BNP Paribas Cash Management. Damien and Alexander respecti-vely explained the complex world of international payments from the side of a bank and that of a corporate and as to how innovation in this field is long overdue. Damien went on to explain the key principles of the Global Payments Initiative from SWIFT and how it promises to revolutionise the world of international payments.The main conclusions drawn from the workshop and the peer-to-peer discussion that followed were:

• Swift gpi speaks to corporates as it brings concrete impro-vements in the execution of International payments

• Two profiles for the use of Swift gpi information: - Online tool to retrieve data on specific transaction - Feed of ERP system for consolidated view

• Tracking emerges as the key feature

• Corporates are interested in the future releases of Swift gpi with functionalities like the Stop and Recall

The concluding remarks of the event were delivered by Jan Dirk van Beusekom from BNP Paribas Cash Management. This was followed by a wine tasting reception.

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