- Tel of whatsapp
- 0031 6 36 48 95 48
- info@treasuryabonnement.nl
Is cash still king ?
DO TREASURERS REALLY NEED INSTANT PAYMENTS? SOME IMPLICATIONS
februari 5, 2018
All treasurers and most financials know the statement “cash is king”. I do not have to explain the meaning; it is best for a company to have cash above any other forms of (accounting) income. Not talking about the problems of not having any cash. Having cash makes a company stronger and opens possibilities to use this cash (dividends, M&A) and cash is also needed to pay the bills.
However, since several years we are living in a world where interest rates are negative. So it costs money to own cash. It is suddenly costly to be a bigger king. This has some implications for companies and treasuries.
ACTIVE CASH MANAGEMENT
Because it is expensive to have and hold cash it is important for treasurers to know where all the cash is and what the position is. Only holding the cash and doing nothing means that the cash balance will decrease because of negative interest. It therefore makes sense to look into options to reduce the cash level. This does not necessarily mean spending the money!
Several options include:
Compensating negative cash balances with positive cash balances, also between different currencies (fx swaps)
Repaying loans
Paying dividends
Paying suppliers earlier to receive a discount
Of course above options are examples and depend on the specific company. Most important aspect in doing above actions are the cash flow forecast. The actions you are taking now have an impact on your future cash position so if some actions are good for now they should also be beneficial in the future situation. Simulations and forecasting software can help with this. For example a simulation on your credit lines, changing interest rates and changing payment terms can be very interesting.
FLOORS AND TERM
If you are with your bank for a long time there is probably nothing agreed about negative interest rates on your cash as this was not foreseen by banks 10 years ago. This gives you an opportunity to negotiate with the bank on your term for having cash. Some possibilities I have seen with my clients:
Floors in the interest rates. This does not necessarily have to be 0% floor
Thresholds: for example the first 10 mln no negative interest charge
Combinations of above
Spread between credit and debit amounts; a lower spread is often better.
INVEST
Another option to reduce the interest charge on your cash is to invest the money. This is a sensible topic as most treasurers are risk averse. The more return is expected the higher the risk associated to the investment. Cash at a bank is considered fairly safe (given the cash is divided over several banks with a good credit rating and depending on the amounts). Furthermore the liquidity of the investment is important. Cash is readily available. If you invest the money it first has to exchanged or transferred to cash which can take time or can have an impact on the return. Most treasurers are prudent on investments and/or internal rules do not allow these.
CASH IS STILL KING
Overall looking at above cash is still king. For every company it is better to have cash then to be short on cash. However, having too much cash can hurt a company too as the return on cash balances is very low and in most cases negative. In these times the value of a treasurer looking at the cash balances and optimizing it uses (and return) is big. So does your company not have a dedicated person looking at the (excess) cash and the optimization of the cash now and in the future (cash forecasting) then it might be the time to a assign somebody on this task. In most cases the return on this person if positive (even though the interest rate is negative).
An external treasurer or flex treasurer can be of help too.
106 Comments
Ирригатор (также известен как оральный ирригатор, ирригатор полости рта или дентальная водяная нить) – это устройство, используемое для очистки полости рта. Оно представляет собой насадку с форсункой, которая использует воду или жидкость для очистки полости рта. Ирригаторы применяются для удаления зубного камня, бактерий и насадок из полости рта, а также для смягчения любых застывших остатков пищи и органических отходов. Ирригаторы применяются для профилактики и лечения различных патологий полости рта. Наиболее распространенные ирригаторы используются для удаления зубного камня, лечения десны, профилактики и лечения воспалений десен, а также для лечения пародонтита. Кроме того, ирригаторы используются для анестезии полости рта, а также для применения антибактериальных препаратов.. Click Here:👉 https://www.irrigator.ru/irrigatory-cat.html
CLAIM SPACE ID AIRDROP 2023 | EARN MORE THAN 1.007ETH | LAST CHANCE https://t.co/5I6J1BLRko
промокод 1хбет при регистрации на сегодня https://rhoadesdds.com/news/promokod_260.html
промокод 1xbet при регистрации https://toolsmach.com/img/pgs/promokod_260.html
1xbet промокод при регистрации https://comptables.ru/images/pages/1hbet_promokod_pri_registracii__bonus_do_32500_rub_.html
промокод 1xbet http://tpor.ru/news/1hbet_promokod_pri_registracii__bonus_do_32500_rub_.html
промокод 1xbet при регистрации https://reklamalubercy.ru/sites/pgs/besplatnuy_promokod_pri_registracii.html
https://ceramicinspirations.co.uk/articles/promokod_191.html 1xbet промокод
Thank you for sharing with us, I think this website truly stands out : D.
This website online is known as a walk-via for all of the information you wished about this and didn’t know who to ask. Glimpse here, and you’ll definitely discover it.
Renew is not just another sleep aid; it’s a comprehensive nutritional formula
Java Burn: What is it? Java Burn is marketed as a natural weight loss product that can increase the speed and efficiency of a person’s natural metabolism, thereby supporting their weight loss efforts
Dentitox Pro is marketed as a natural oral health supplement designed to support dental health and hygiene.
Nagano Lean Body Tonic: An IntroductionNagano Lean Body Tonic is a dietary supplement designed to help lose unhealthy weight.
I like what you guys are up too. Such clever work and reporting! Keep up the excellent works guys I have incorporated you guys to my blogroll. I think it will improve the value of my website 🙂
I got what you mean ,saved to my bookmarks, very nice site.
Keep functioning ,terrific job!
Thanks so much for giving everyone an extremely brilliant chance to check tips from this blog. It’s always very good and jam-packed with a good time for me personally and my office co-workers to search the blog more than three times per week to see the fresh secrets you have got. And of course, I’m actually astounded for the breathtaking pointers you give. Selected 4 facts on this page are unquestionably the finest we have all had.
I just couldn’t depart your site before suggesting that I actually enjoyed the standard info a person provide for your visitors? Is gonna be back often in order to check up on new posts
It’s best to take part in a contest for among the finest blogs on the web. I’ll advocate this web site!
Hello there! This is my 1st comment here so I just wanted to give a quick shout out and say I genuinely enjoy reading through your posts. Can you recommend any other blogs/websites/forums that go over the same subjects? Many thanks!
It¦s really a great and helpful piece of info. I¦m satisfied that you just shared this useful information with us. Please keep us up to date like this. Thank you for sharing.
wonderful points altogether, you simply gained a new reader. What would you suggest in regards to your put up that you simply made some days ago? Any certain?
Tonic Greens: An Overview. Introducing Tonic Greens, an innovative immune support supplement
Heya i’m for the first time here. I found this board and I in finding It really helpful & it helped me out much. I hope to offer one thing back and help others such as you aided me.
Hello! I know this is kinda off topic but I was wondering which blog platform are you using for this site? I’m getting sick and tired of WordPress because I’ve had issues with hackers and I’m looking at alternatives for another platform. I would be awesome if you could point me in the direction of a good platform.
I am typically to blogging and i actually admire your content. The article has actually peaks my interest. I’m going to bookmark your website and maintain checking for brand new information.
Some genuinely nice and utilitarian information on this site, likewise I think the design has great features.
CVzen is de ultieme CV schrijfservice en carrièrecoach voor miljoenen werkzoekenden over de hele wereld. Ons team van experts is toegewijd aan uw succes en zal u ondersteunen tijdens uw hele carrièrepad, van het schrijven van uw professionele CV en sollicitatiebrief met branchespecifieke informatie tot het optimaliseren van uw LinkedIn-profiel en het bieden van professionele carrièrecoaching. Ontsluit nieuwe kansen met een cv waarin je potentieel tot zijn recht komt.
Very interesting topic, appreciate it for putting up.
Greetings I am so glad I found your blog page, I really found you by mistake, while I was looking on Digg for something else, Regardless I am here now and would just like to say kudos for a fantastic post and a all round thrilling blog (I also love the theme/design), I don’t have time to browse it all at the moment but I have book-marked it and also added in your RSS feeds, so when I have time I will be back to read more, Please do keep up the awesome work.
Saved as a favorite, I really like your blog!
I like this blog very much, Its a real nice situation to read and find information. “Misogynist A man who hates women as much as women hate one another.” by H.L. Mencken.
Hello! I could have sworn I’ve been to this blog before but after browsing through some of the post I realized it’s new to me. Anyways, I’m definitely happy I found it and I’ll be book-marking and checking back frequently!
Hello there! I could have sworn I’ve been to this blog before but after reading through some of the post I realized it’s new to me. Nonetheless, I’m definitely happy I found it and I’ll be bookmarking and checking back frequently!
I do agree with all of the ideas you’ve presented in your post. They’re very convincing and will definitely work. Still, the posts are too short for starters. Could you please extend them a bit from next time? Thanks for the post.
I simply had to appreciate you once more. I do not know the things that I might have carried out without these methods shared by you regarding this area. This has been the traumatic concern for me, but observing your specialized fashion you managed that forced me to leap over contentment. Now i’m thankful for the advice and expect you comprehend what an amazing job that you’re getting into instructing people via your web blog. I know that you haven’t come across any of us.
Thank you, I’ve recently been looking for information about this topic for a while and yours is the best I’ve found out till now. But, what in regards to the conclusion? Are you positive in regards to the source?
I like the helpful info you provide in your articles. I’ll bookmark your blog and check again here frequently. I’m quite sure I will learn plenty of new stuff right here! Good luck for the next!
As soon as I observed this site I went on reddit to share some of the love with them.
I like what you guys are up too. Such smart work and reporting! Carry on the superb works guys I¦ve incorporated you guys to my blogroll. I think it’ll improve the value of my web site 🙂
Nice read, I just passed this onto a friend who was doing some research on that. And he just bought me lunch because I found it for him smile So let me rephrase that: Thanks for lunch!
Everything is very open and very clear explanation of issues. was truly information. Your website is very useful. Thanks for sharing.
Please let me know if you’re looking for a article writer for your blog. You have some really good articles and I think I would be a good asset. If you ever want to take some of the load off, I’d really like to write some material for your blog in exchange for a link back to mine. Please blast me an email if interested. Cheers!
I simply wanted to jot down a brief remark in order to say thanks to you for these awesome tips you are writing on this website. My extended internet look up has finally been compensated with wonderful insight to share with my best friends. I would declare that we website visitors actually are definitely endowed to dwell in a good network with many awesome professionals with great hints. I feel pretty fortunate to have discovered your web pages and look forward to so many more excellent minutes reading here. Thank you again for a lot of things.
One such software that has been generating buzz these days is the Lottery Defeater
One such software that has been generating buzz these days is the Lottery Defeater
I discovered your blog site on google and check a few of your early posts. Continue to keep up the very good operate. I just additional up your RSS feed to my MSN News Reader. Seeking forward to reading more from you later on!…
Hello there! I could have sworn I’ve been to this website before but after reading through some of the post I realized it’s new to me. Nonetheless, I’m definitely happy I found it and I’ll be bookmarking and checking back frequently!
An impressive share, I just given this onto a colleague who was doing a little analysis on this. And he in fact bought me breakfast because I found it for him.. smile. So let me reword that: Thnx for the treat! But yeah Thnkx for spending the time to discuss this, I feel strongly about it and love reading more on this topic. If possible, as you become expertise, would you mind updating your blog with more details? It is highly helpful for me. Big thumb up for this blog post!
Thanks for every other informative site. Where else may I get that type of information written in such an ideal approach? I’ve a undertaking that I am just now running on, and I’ve been at the glance out for such information.
Very interesting details you have noted, appreciate it for posting. “Jive Lady Just hang loose blood. She gonna handa your rebound on the med side.” by Airplane.
There are certainly a whole lot of particulars like that to take into consideration. That could be a nice level to carry up. I supply the ideas above as common inspiration but clearly there are questions like the one you deliver up where the most important factor can be working in trustworthy good faith. I don?t know if greatest practices have emerged round issues like that, however I’m sure that your job is clearly identified as a fair game. Both girls and boys really feel the affect of only a moment’s pleasure, for the rest of their lives.
Very fantastic info can be found on weblog. “You don’t get harmony when everybody sings the same note.” by Doug Floyd.
What¦s Going down i’m new to this, I stumbled upon this I’ve found It absolutely useful and it has helped me out loads. I’m hoping to contribute & assist different users like its aided me. Good job.
Wow, superb blog structure! How lengthy have you ever been blogging for? you made blogging glance easy. The entire look of your website is great, as neatly as the content material!
It’s perfect time to make some plans for the future and it is time to be happy. I have read this post and if I could I wish to suggest you few interesting things or tips. Maybe you could write next articles referring to this article. I desire to read even more things about it!
Greetings from Ohio! I’m bored to tears at work so I decided to check out your website on my iphone during lunch break. I love the knowledge you present here and can’t wait to take a look when I get home. I’m surprised at how quick your blog loaded on my mobile .. I’m not even using WIFI, just 3G .. Anyhow, awesome blog!
Wow! This could be one particular of the most helpful blogs We’ve ever arrive across on this subject. Actually Fantastic. I’m also a specialist in this topic so I can understand your hard work.
Thank you for sharing with us, I believe this website truly stands out : D.
I really like reading and I believe this website got some truly useful stuff on it! .
You made some clear points there. I did a search on the topic and found most guys will agree with your site.
What does the Lottery Defeater Software offer? The Lottery Defeater Software is a unique predictive tool crafted to empower individuals seeking to boost their chances of winning the lottery.
Your place is valueble for me. Thanks!…
What Is Wealth Signal? the Wealth Signal isn’t just a financial tool; it’s a new way of thinking about and achieving wealth. Unlike traditional methods that focus on external strategies, Wealth Signal emphasizes changing your internal mindset.
Way cool, some valid points! I appreciate you making this article available, the rest of the site is also high quality. Have a fun.
Great wordpress blog here.. It’s hard to find quality writing like yours these days. I really appreciate people like you! take care
I got what you intend, thankyou for posting.Woh I am thankful to find this website through google.
I believe this internet site has some very great information for everyone :D. “The public will believe anything, so long as it is not founded on truth.” by Edith Sitwell.
I have been browsing online more than 3 hours as of late, yet I never discovered any interesting article like yours. It is beautiful value sufficient for me. Personally, if all site owners and bloggers made good content as you did, the net will probably be much more helpful than ever before.
I truly enjoy reading on this web site, it holds wonderful articles. “Violence commands both literature and life, and violence is always crude and distorted.” by Ellen Glasgow.
Some really nice and useful info on this internet site, likewise I believe the layout contains wonderful features.
You are my breathing in, I own few web logs and rarely run out from to brand.
I like the helpful info you provide in your articles. I’ll bookmark your blog and check again here frequently. I am quite certain I will learn many new stuff right here! Good luck for the next!
Someone essentially assist to make significantly articles I would state. That is the first time I frequented your website page and up to now? I amazed with the analysis you made to create this particular publish extraordinary. Magnificent activity!
I wish to express my appreciation to the writer just for bailing me out of this scenario. Just after scouting throughout the the web and obtaining recommendations which were not powerful, I assumed my life was over. Living minus the answers to the difficulties you’ve sorted out all through your entire blog post is a critical case, as well as the kind that might have badly damaged my entire career if I had not come across your web blog. Your actual competence and kindness in touching all the details was useful. I don’t know what I would’ve done if I hadn’t come upon such a step like this. I can at this time look forward to my future. Thanks a lot so much for your specialized and sensible help. I won’t be reluctant to refer the blog to any individual who desires guide about this topic.
Hello there, You have performed an excellent job. I will definitely digg it and for my part recommend to my friends. I am confident they will be benefited from this website.
Thanks for another informative web site. Where else could I get that kind of info written in such an ideal way? I have a project that I am just now working on, and I’ve been on the look out for such info.
I was reading some of your articles on this website and I believe this internet site is very instructive! Keep putting up.
I discovered your blog site on google and check a few of your early posts. Continue to keep up the very good operate. I just additional up your RSS feed to my MSN News Reader. Seeking forward to reading more from you later on!…
I truly wanted to post a remark to be able to say thanks to you for all the precious suggestions you are writing at this website. My incredibly long internet search has now been rewarded with extremely good insight to exchange with my companions. I ‘d say that most of us site visitors actually are quite endowed to exist in a decent site with many wonderful individuals with insightful opinions. I feel truly grateful to have encountered your entire web page and look forward to many more excellent moments reading here. Thanks a lot once more for everything.
I¦ve recently started a web site, the info you offer on this site has helped me tremendously. Thank you for all of your time & work.
Pretty nice post. I just stumbled upon your blog and wanted to mention that I have really loved browsing your blog posts. In any case I will be subscribing in your rss feed and I’m hoping you write once more soon!
What Is Java Burn? Java Burn is a natural health supplement that is formulated using clinically backed ingredients that promote healthy weight loss.
Real excellent info can be found on web site.
This is a very good tips especially to those new to blogosphere, brief and accurate information… Thanks for sharing this one. A must read article.
so much superb information on here, : D.
There are definitely a whole lot of particulars like that to take into consideration. That could be a nice point to convey up. I provide the ideas above as common inspiration but clearly there are questions just like the one you carry up where crucial factor will likely be working in trustworthy good faith. I don?t know if best practices have emerged around things like that, but I am positive that your job is clearly recognized as a fair game. Both girls and boys really feel the impression of only a moment’s pleasure, for the rest of their lives.
Aw, this was a really nice post. In thought I want to put in writing like this additionally – taking time and actual effort to make a very good article… however what can I say… I procrastinate alot and certainly not seem to get something done.
I am often to blogging and i really appreciate your content. The article has really peaks my interest. I am going to bookmark your site and keep checking for new information.
I went over this site and I conceive you have a lot of fantastic info , bookmarked (:.
Excellent read, I just passed this onto a colleague who was doing some research on that. And he just bought me lunch because I found it for him smile Thus let me rephrase that: Thanks for lunch!
This web page can be a stroll-through for the entire data you wished about this and didn’t know who to ask. Glimpse here, and also you’ll positively uncover it.
Nice post. I be taught something tougher on completely different blogs everyday. It’ll at all times be stimulating to read content from other writers and apply a bit one thing from their store. I’d desire to use some with the content material on my blog whether you don’t mind. Natually I’ll offer you a link in your net blog. Thanks for sharing.
I love your blog.. very nice colors & theme. Did you create this website yourself? Plz reply back as I’m looking to create my own blog and would like to know wheere u got this from. thanks
Do you have a spam issue on this blog; I also am a blogger, and I was wanting to know your situation; we have created some nice practices and we are looking to trade techniques with other folks, why not shoot me an e-mail if interested.
I got good info from your blog
Thanks for the post, can I set it up so I receive an alert email whenever you make a fresh update?
Outstanding post, I believe blog owners should larn a lot from this weblog its really user genial.
Hello, i read your blog from time to time and i own a similar one and i was just curious if you get a lot of spam remarks? If so how do you reduce it, any plugin or anything you can recommend? I get so much lately it’s driving me crazy so any support is very much appreciated.
Unquestionably consider that which you said. Your favorite reason appeared to be at the internet the easiest factor to be mindful of. I say to you, I certainly get irked while folks consider worries that they plainly do not know about. You controlled to hit the nail upon the highest as neatly as defined out the entire thing with no need side-effects , people can take a signal. Will likely be again to get more. Thank you
so much fantastic information on here, : D.
Good V I should definitely pronounce, impressed with your site. I had no trouble navigating through all the tabs and related information ended up being truly easy to do to access. I recently found what I hoped for before you know it at all. Reasonably unusual. Is likely to appreciate it for those who add forums or something, site theme . a tones way for your client to communicate. Excellent task..
Virtually all of whatever you say is supprisingly appropriate and it makes me wonder the reason why I had not looked at this in this light previously. Your article truly did switch the light on for me personally as far as this particular issue goes. Nonetheless there is one factor I am not too comfy with and while I attempt to reconcile that with the central theme of the issue, allow me see what the rest of the visitors have to say.Very well done.
This is a topic close to my heart cheers, where are your contact details though?
Thanks for ones marvelous posting! I actually enjoyed reading it, you are a great author.I will remember to bookmark your blog and will often come back in the future. I want to encourage yourself to continue your great writing, have a nice day!