Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 17

FOCUS

When selling the project, what you need to stress is the
features of stronger internal controls, of a lower risk of
fraud perpetrated by disgruntled former employees, and of
greater efficiency in managing and rationalising the number
of accounts. You need to start from quantified assumptions.
Surely just one single fraud every ten years is justification
for putting a control system in place? Surely just one single
bank overcharging for bank fees is justification for setting up
controls over bank fees? How you will be able to economise
on resources with eBAM, during year end audits for example.
It has become difficult to open accounts, and also to operate
them. Having your annual financial statements qualified by
an auditor because you are not compliant is also harmful,
surely?
	
  
Types	
  of	
  Proxies

Power  of  Signature  Validation  Process
Commitment  Authorities                                Power  of  Signature

Dpt	
  i n	
  charge

Legal

E.R.P.	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  Pyments	
  +	
  TMS	
  +	
  	
  	
  transmission	
  to	
  banks	
  

Treasury

JAN 2018

	
  	
  	
  	
  	
  	
  	
  	
  

	
  	
  	
  Validation
A.A.L.	
  (Approver	
  Audit	
  List)	
  issuance

Audit

Annual	
  External/Internal	
  Audit	
  Reviews

	
  

N°99

I.T.  team

- NOV / DEC /

I.T.  System  input

Issuance	
  of	
  Doc./Amendments/Validation	
  by	
  Board

	
  

LE MAGAZINE DU TRESORIER / TREASURER MAGAZINE

-

Multidisciplinary project
eBAM is a method of communication, a protocol
Projects such as this are strategically important as a solid
foundation for treasury management. eBAM is a method of
to be introduced, even though at first it may look
communication, a protocol to be introduced, even though
more like BAM that eBAM. Setting up a common
at first it may look more like BAM that eBAM. Setting up a
and complete register of all your bank accounts
common and complete register of all your bank accounts
worldwide is key.
worldwide is key. You can add other solutions such as SEPA
mail to it later to prevent the now classic IBAN frauds. At
a time when the word "fraud" makes people quake in their
boots, it would be a good idea to close ranks and prevent
this risk, together with the risk of non-compliance. This is a
multidisciplinary project which involves several departments
and several IT solutions (possibly). This is undoubtedly the
  
most manual part of treasury management, or at the very
  
least
the least automated part of it. Adding the management
of bank charges to this project can lead to substantial sa  
vings and help justify the project from a financial standpoint.
Multidisciplinary  project	
  
   to install an all-in-one solution,
The
ultimate goal would be
providing all modules in one single application (for example
Projects	
  such	
  as	
  this	
  are	
  strategically	
  important	
  as	
  a	
  solid	
  foundation	
  for	
  treasury	
  management.	
  eBAM	
  is	
  
SAP Hana, Sungard, or Hanse Orga), but this is not essential.
a	
  method	
  of	
  communication,	
  a	
  protocol	
  to	
  be	
  introduced,	
  even	
  though	
  at	
  first	
  it	
  may	
  look	
  more	
  like	
  
This is perhaps not the most value generating of projects, but
BAM	
  that	
  eBAM.	
  Setting	
  up	
  a	
  common	
  and	
  complete	
  register	
  of	
  all	
  your	
  bank	
  accounts	
  worldwide	
  is	
  key.	
  
nevertheless it is the essential cement that binds together
You	
  can	
  add	
  other	
  solutions	
  such	
  as	
  SEPA	
  mail	
  to	
  it	
  later	
  to	
  prevent	
  the	
  now	
  classic	
  IBAN	
  frauds.	
  At	
  a	
  
the foundations of state-of-the-art treasury management.
time	
  when	
  the	
  word	
  "fraud"	
  makes	
  people	
  quake	
  in	
  their	
  boots,	
  it	
  would	
  be	
  a	
  good	
  idea	
  to	
  close	
  ranks	
  
and	
  prevent	
  this	
  risk,	
  together	
  with	
  the	
  risk	
  of	
  non--‐compliance.	
  This	
  is	
  a	
  multidisciplinary	
  project	
  which	
  
François Masquelier,
involves	
  several	
  departments	
  and	
  several	
  IT	
  solutions	
  (possibly).	
  This	
  is	
  undoubtedly	
  the	
  most	
  manual	
  
Chairman ATEL
part	
  of	
  treasury	
  management,	
  or	
  at	
  the	
  very	
  least	
  the	
  least	
  automated	
  part	
  of	
  it.	
  Adding	
  the	
  
management	
  of	
  bank	
  charges	
  to	
  this	
  project	
  can	
  lead	
  to	
  substantial	
  savings	
  and	
  help	
  justify	
  the	
  project	
  
from	
  a	
  financial	
  standpoint.	
  The	
  ultimate	
  goal	
  would	
  be	
  to	
  install	
  an	
  all--‐in--‐one	
  solution,	
  providing	
  all	
  
modules	
  in	
  one	
  single	
  application	
  (for	
  example	
  SAP	
  Hana,	
  Sungard,	
  or	
  Hanse	
  Orga),	
  but	
  this	
  is	
  not	
  

17



Table des matières de la publication Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018

COUVERTURE
SOMMAIRE
EDITORIAL
FINANCIAL HIGHLIGHTS Luxembourg Tax News
INTERVIEW with Dick Oskam, Head of Sales for Transaction at ING
FOCUS
Value generation - How to create (more) value for the company with a better capital allocation
Managing bank accounts, the Cinderella of treasury management
Treasury on the Digital Front Line
FORUM
Implementation of EU Tax Rules
Innovative payments solution
Construction de portefeuille : combiner gestion active et passive
Decision Time: Investing in Money Funds after EU Reforms
Payments as a Strategy
Are asia’s corporates ready to repo?
The evolving role of treasurers
THE FINANCIAL RISK OBSERVATORY
NEWS
LIFE BEYOND NUMBERS
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - COUVERTURE
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 2
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - SOMMAIRE
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 4
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - EDITORIAL
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - FINANCIAL HIGHLIGHTS Luxembourg Tax News
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 7
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - INTERVIEW with Dick Oskam, Head of Sales for Transaction at ING
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 9
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - Value generation - How to create (more) value for the company with a better capital allocation
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 11
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 12
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 13
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - Managing bank accounts, the Cinderella of treasury management
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 15
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 16
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 17
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 18
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - Treasury on the Digital Front Line
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 20
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 21
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - Implementation of EU Tax Rules
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 23
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - Innovative payments solution
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 25
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - Construction de portefeuille : combiner gestion active et passive
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 27
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - Decision Time: Investing in Money Funds after EU Reforms
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 29
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - Payments as a Strategy
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 31
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - Are asia’s corporates ready to repo?
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 33
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - The evolving role of treasurers
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 35
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 36
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - THE FINANCIAL RISK OBSERVATORY
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 38
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 39
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 40
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - NEWS
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 42
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 43
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 44
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 45
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 46
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 47
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 48
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 49
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 50
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 51
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 52
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - LIFE BEYOND NUMBERS
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 54
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 55
Trésorier/Treasurer magazine - N°99 - Nov/Dec/Jan 2018 - 56
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