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Covid-19 proved that good practices are good

The pandemic came to prove that solid best-practice cash management platforms, allowing full visibility of the cash across the group, are vital. These panelists in Thursday’s Treasury 360° Oslo shared their conclusions on what kinds of work they want to double down on as they move forward. Watch the half-hour discussion.

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“I just see how much we benefit from being a digital company, with a central platform,” said Kristin Qvale, treasury manager of Norwegian renewable energy provider Scatec.

On Thursday she took part in a panel discussion on foreign exchange and cash management, together with …
Abraham Geldenhuys, vice president of group treasury at Kongsberg Automotive, and
Ramon Tolk, senior treasury director at Avery Dennison.
The session was moderated by Jose Manuel Franco, head of FX at Transaction Banking EMEA, BNP Paribas.

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The speakers seemed to agree that the covid-19 pandemic throughout 2020 and 2021 has not been a reason to slow down the pace of improvement work and implementations in treasuries, but rather to speed it up. Having good processes in place – including systems that provide transparency on what cash is where – turned out more important than ever.

Abraham Geldenhuys described how interruptions to deliveries, such as with semiconductors, triggered increased activity in spot markets. This meant payments to many more unknown suppliers, carrying new risks, so assessing them carefully was high on the agenda.

Hedging strategies were discussed. Last year, also at PostTrade 360° Oslo, Ramon Tolk shared a detailed case story on his company’s implementation of a “value-at-risk”-based hedging optimization model, and his full half-hour presentation video from then can be watched here.

Also in last year’s Treasury 360° Oslo, Abraham Geldenhuys gave a detailed interior of his company’s treasury process makeover and how it helped as the crisis arrived.


News from Treasury 360° Oslo on 27 May is gathered here.
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