STREAM3 Chaired by: Robert Novaria, Partner, Treasury Alliance Group,US 2:20 ISYOURTREASURYFITFORCHANGE? 11:40 CENTRALIZEANDCENTRALIZEANDCENTRALIZEAGAIN Centralfinancefunctions havenottraditionally been notedfor theirflexibility and So you think you’ve centralized? So your TMS has been implemented for 100% of agility. Itis truethat as corporatetreasuries have been slimmeddown, the // DAY 1 the business? All instances of TMSs and ERPs, if different, can seamlessly exchange tight-knit teams that result have become inherently more nimble and potentially all the data you need? And your proprietary solutions – including Excel – can able to respond more quickly to changing circumstances. In smaller, high-growth TUESDAY MAY15 integrate too? In fact, treasury centralization is an ongoing project that is never companies, this treasury flexibility and agility is critical: growth is change, and finished. Old problems are solved, but new ones emerge – from new businesses, growth today involves the rapid integration of new geographies and technologies. acquisitions, technology. The key is to identify where decentralized processes are But in larger firms, even if teams are small and open to change, treasury, ERP and HOW TREASURY constraining the business and to deal with the most significant pain points quickly. MISsystemsareoftennot.Sohowcancompanieskeeptheflexibility inforecasting, CAN SUPPORT AND Whichstructures arebecomingoutdatedandneedtobereplaced? Whichprocesses planning, fundingandriskmanagementtheydevelop whentheyaresmall?Dosmall can benefit from proven technological innovation? And are you sure you’ve teams really create agility or are they just overworked and unable to change? And PROMOTEBUSINESS addressed the fundamentalissues? howcanagilitybebuiltuponlegacy technologyframeworksandprocesses? GROWTH Noel Marsden, VP &Corporate Treasurer, Brightstar Corporation, US Jeffrey Williams, Senior Director, Treasury Operations, American Tower,US 12:20 GETTINGTHEBESTFROMYOURBANKS,KEEPINGYOUROPTIONSOPEN 3:00 FX RISKMANAGEMENT Akey treasury objective is In ten years, we’re told, we will all be buying micro-services from a teeming The foundations of any risk management process are first, an understanding of the the creation of a scalable ecosystem of FinTechs. The whole concept of a bank will have changed. But until exposures the company faces; second, the consequent a board-sanctioned risk treasury organization to then treasurers need a strategy for bank relationships and the purchase of core management policy; and third buy-in from business units that they either pay for support rapid growth in banking services. How this works depends on how developed the treasury is. In a risk mitigation or own any risk that they don’t want to pay for. In practice, those the underlying business. fast-growing firm with a handful of banks, there is an opportunity to build an foundationsarenotstraightforward tobuild.Andtheyarecomplicatedtodaybythe optimum structure from scratch, incorporating best-of-breed technologies, bank rapidly changing nature of FX market liquidity provision, risk management Technology is important, agnostic platforms and solutions such as virtual account management to drive technology and the possibilities for outsourcing. So what are the critical points but so are thebasics. simplicity, efficiency and visibility. Larger firms, with the tangled complexity that treasurers must get right in setting up and maintaining a scalable FX risk process? results fromlongerevolution,first need toaudittheircurrent arrangements,identify What is must-have and what is just nice-to-have? And how is technology changing unnecessary complexity and remove it. All companies still need to ensure they have the internal corporate FX process, the FX market and the interplay between the sufficient strong relationships to guarantee access to core services. Wise ones will two? keep abreast of new providers. Rationalize or expand? Old banks or new providers? Charlie Herche, Director, Treasury Capital Markets, Expedia,US It’s more complicated thanthat. John Zavaglia, Senior Director, Treasury Capital Markets, Expedia,US 1:00 LUNCH 3:40 REFRESHMENTBREAK 4:00 ADJOURNTOTHEEXHIBITIONFLOORFORASPECIALCONVERSATIONON INNOVATION ANDFINTECH (See page6.) “Great event, which provides perfect exchange possibilities based on the appropriate size.” —Christopher Schöffel, Boehringer Ingelheim 14