Payment and Collection Factories

Payment and Collection Factories

Editor's Letter

14 October 2014

Payment and Collection Factories

Dear gtnews member,

What do treasurers want? In a nutshell, to gain greater visibility and control over their cash, reduce risk and strengthen internal controls – key reasons why many treasuries are setting up payments and collection factories. While many treasuries are still hesitant to reduce their number of banking partners, recent studies show that third-party providers nevertheless are gaining on their more established counterparts. Payment factories have recently received an even further boost with the launch of the single euro payments area (SEPA). This week, gtnews examines what treasurers must do to maximise the efficiencies of payment factories.

We lead off with a look at how treasurers can obtain the 'ultimate' bank account structure. BNP Paribas’ Filipe Simão reviews three key developments that could be ‘game changers’ in the quest for the ultimate bank account model in Europe. Next, Citi’s Basak Toprak discusses how shared service centres (SSCs) present companies with the opportunity to centralise their receivables activities by bringing them under one roof. Furthermore, she explains, companies can expand their payment factories by setting up collections factories in the process.

Elsewhere this week, we provide readers with key tips on how to keep their employees from falling victim to hackers, and examine the three crucial skills companies need to look for when hiring financial planning and analysis (FP&A) professionals. Also, don't miss the results of the 2014 gtnews Investment Strategy Survey, sponsored by State Street Global Advisors (SSgA).

Best wishes,
Andrew Deichler
, Deputy Editor, gtnews

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