COVID-19

Treasury management for large companies

The coronavirus outbreak is first and foremost a human tragedy. At the same time, it has the potential to have significant impacts on company treasury. Ensuring the finances of your company is carefully managed is therefore crucial.

For this reason, Grant Thornton Luxembourg decided to launch a series of Webinars about different topics around this COVID-19 crisis, the implications for businesses and how to try to deal with it the best way.

 

Missed our second webinar on Treasury Management for large companies? 

Find below tips and best practices from our expert!

 

But before, a word about our special guest …

François Masquelier has founded “SimplyTREASURY”, a company that delivers advisory in treasury, corporate finance and ERM. Before and until December 2019, he was Head of Corporate Finance, Treasury and Enterprise Risk Management at RTL Group, leading European media company. He joined RTL in 1997. Before, he worked for Eridania Béghin-Say and ABN.AMRO.

He is Doctor in Tax Law, has degree in Economy and Administration from the University of Liège and is graduated from the Solvay Business School as Executive master’s in management. He is certified ICIS and ICIP. He is Chairman of Association of Corporate Treasurers of Luxembourg (ATEL), Honorary Chairman of European Association of Corporate Treasurers (EACT), member of the Financial Instrument Working Group created by the IAS Board in 2004. He has also been appointed as Specialist at The Institute of Risk Management (IRM) since November 2009.

 

Lessons learned from such a crisis

  • Smaller corporations are more at liquidity risk and have less back-ups.
  • BCP’s are often missing and people were not prepared for working from home in general.
  • Low-tech treasuries organisation are more exposed.
  • Cash-flow forecasting can always be improved ST & MT.
  • Reporting is often poor and not prospective.
  • Lack of investments in finance although there is also a « digital transformation ».
  • Companies remain too much XL (Excel) dependant.

 

It is time to modernise the finance function

If a company survives, it will change things, for sure to become more resilient. The digital transformation of treasury departments is inevitable - already started intensively... and fast. Most MNC’s on the road to digitalisation although long and complicated.

“Back to the future”: Treasury should be rethought to face the growing risk challenges.

CFO’s worried about best ways to adapt organisations to (better) react to increasing and new risks faster and more efficiently.

The most « IT-cized » department, however ergonomics can be improved – lack of stress testing benefits from tech’s / API’s (PSD2) – given central position, treasurers to become Financial Risk Officers (FRO’s).

 

Are you keen to know more about this topic?

View our Treasury Management Webinar recording

If you want to deepen this topic with us, please do not hesitate to contact Yves Steinbusch.