How Midsize Enterprises Are Optimizing Treasury Operations
Date: Wednesday, July 20, 2022
Time: 11:00 a.m. ET | 8:00 a.m. PT
Credits: Approved for up to 1.2 CTP/FP&A recertification credits by the Association for Financial Professionals*
[Also available for free, on-demand viewing for all registrants starting on 7/21/2022]
The treasury function has a well-deserved reputation for running lean. There are certainly notable exceptions, but among most companies—even multi-billion-dollar enterprises—treasury usually has few dedicated team members. Five, three, one, or perhaps even zero individuals have a full-time focus on the complexities of managing cash flows, working capital and payments, financial risk, and all the other myriad areas of financial management that require a treasury professional’s input.
“Do more with less” is the mantra across most treasury teams—and that challenge is magnified in small to midsize businesses. Even though an organization might not have the staff resources of a Microsoft or Hewlett Packard, it will have the same need for effective treasury operations.
This year’s Alexander Hamilton Awards program is recognizing three companies with “Small Company Excellence” awards. Join this webcast to explore the process and technology improvements Goshawk Aviation, Lithko Contracting, and Exitus Credit implemented, and the benefits they achieved by doing so. Each company will present its winning initiative, with a focus on what made the project innovative, as well as any lessons the presenters learned over the course of the initiative. You will:
- Celebrate Lithko Contracting, Goshawk Aviation, and Exitus Credit as winners of the 2022 Alexander Hamilton Awards in the category Small Company Excellence.
- Understand how these companies leveraged their limited staff resources to substantially improve treasury processes.
- Learn strategies for successful treasury operations in a small to midsize organization.
Dublin-based Goshawk Aviation Limited leases aircraft to 62 airlines in 33 countries around the world. The company had developed a system for earning interest on excess cash, but the process required a great deal of manual intervention, not only demanding inordinate staff time, but also risking human error. Treasury leadership wanted to automate the cash flows and gain better visibility into them. They worked with their bank to set up a cash pooling project that incorporates more than 100 distinct legal entities.
Lithko Contracting, an Ohio-based construction company, works with a lot of small, family-owned suppliers. When these thinly capitalized businesses faced serious cash-flow challenges during the Covid-19 pandemic, the A/P team needed to find a way to support all the suppliers that were requesting early payment, but without seriously damaging Lithko’s own cash flows. They developed a purchasing card program that includes both physical and virtual cards, and began using them to accelerate between $4 million and $5 million in payments each month.
Exitus Credit is a financial institution in Mexico City that lends primarily to retirees. Its mission is to provide funds to borrowers within one hour, anytime 24 hours a day and 365 days a year. When Exitus needed to upgrade the security around the 10,000-plus financial transactions its customers initiate online every month, it launched an initiative to develop API-based connectivity between its core lending system and its bank. The solution needed to provide top-level security and instantaneous funding of loans once they’re approved. It accomplished both objectives.
REGISTER NOW! (Not able to attend? We recommend you STILL REGISTER – you will receive an email with how to access the recording of the event)
Ben Cutting | CFO | Lithko Contracting
*PROGRAM APPROVED BY AFP FOR 1.2 CTP / FP&A CREDITS
Approved for up to 1.2 FP&A recertification credits by the Association for Financial Professionals at the rate of one credit for each 50 minutes of attendance.
Approved for up to 1.2 CTP recertification credits by the Association for Financial Professionals at the rate of one credit for each 50 minutes of attendance.