According to the Association of Financial Professionals (AFP), this year’s national conference was the largest AFP event in its 15 years, attracting more than 6,200 attendees to the fine city of Chicago. In addition to the record attendance, a wealth of new ideas and best practices were shared, arming practitioners with new treasury perspectives to employ the moment they return to the office.
Bob Stark's blog
Bob Stark, vice president of strategy
Bob has 18 years’ experience in treasury technology, working for many of the best known technology providers in the industry. As VP of Strategy at Kyriba, Bob is responsible for global product strategy and market development, and works with clients, partners, and industry influencers to ensure Kyriba is at the forefront of treasury technology. Bob has provided treasury management strategy to some of the world’s largest companies, and is a frequent speaker and author on treasury, risk management, and the cloud. If it’s worth knowing about in the treasury, you can assume he knows it.
Natural disasters are unpredictable and costly. When hurricanes strike, the damage can be devastating, especially if you are not prepared.
Adoption of lease accounting standards such as IFRS16 is less than a year away, with regulations effective as of January 2019. Yet, with over two years to prepare already, most corporates report not being ready for the transition. In fact, most treasurers are either unaware of or not involved with their organization’s lease accounting project planning. This is a serious problem as lease accounting experts are finding that uncovering the full magnitude of lease contracts takes at least 12 months to complete.
Why is lease accounting so difficult?
With global trade volumes continuing to rise, cross-border payments are increasing too. Indeed, research by Accenture forecast that the overall value of cross-border payments would rise by 5.6 percent per year between 2016 and 2022.
Treasury professionals who manage cash are faced with many challenges, especially if they have not invested in a modern solution to help centralize their payments operations. These challenges are amplified when considering the recent escalation in payments fraud.
AFP released its 2018 Payments Fraud Survey this week and it reports that payments fraud attempts have risen, again. Fraud attempts were found at 78 percent of organizations, up from 74 percent the year before.