Fanny Niu, Senior Finance Manager, Microsoft GTFS

For a company that does as much business globally as Microsoft does, minimizing foreign exchange risk and bank fees can have a significant impact. That's why Fanny Niu, a Beijing-based senior finance manager for Microsoft's Global Treasury & Financial Services division, initiated a project to net the company's accounts receivable (A/R) and accounts payable (A/P) balances with a major supplier.

The supplier, which is based in Taiwan, produces specific hardware devices for Microsoft. Each company runs both A/R and A/P balances with the other. Microsoft purchases $4 billion to $6 billion of raw materials annually, provides those parts and other manufacturing inputs to the device supplier, and then purchases finished goods from that same supplier. Every month, Microsoft owes the device supplier for the finished goods, and the supplier owes Microsoft for the materials provided.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including and

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Meg Waters

Meg Waters is the editor in chief of Treasury & Risk. She is the former editor in chief of BPM Magazine and the former managing editor of Business Finance.