Editorial
The main feature of the October edition is that it marks the start of our Deals of the Year coverage. Now in its fourth year, we aim to show which of the deals completed in the period 1 October 2001 to 30 September 2002 are most praiseworthy from a treasurer’s point of view. That is what distinguishes our Deals of the Year from similar offerings from other magazines – the treasurer’s perspective. Banks are, understandably, keen to promote ‘biggest’ or ‘most…..’ but that does not necessarily always mean best from the other side of the fence.
Our criteria are sound treasury management, efficient pricing, optimal or innovative structuring, and (importantly in the current environment) relative success in prevailing market conditions.
We have selected some 30 deals which we feel have stood out over the past 12 months, and are asking readers to tell us which ones you feel are most noteworthy. This is not an exclusive list, and if your favourite deal, or indeed a deal which you worked on, is missing from the list, please feel free to nominate it. I would encourage all readers to vote – the more votes we get, the better the validation and the higher profile will be achieved by the Deals of the Year feature, The Treasurer and in turn the ACT.
Once we have everybody’s votes in (deadline Monday 21 October), the Panel will reconvene to consider which eight deals will make the final selection. The criteria mentioned above and the weight of voting for a particular deal will be considered. There are no categories, and the Panel will be selecting the best eight, although we will be looking to achieve a balanced selection. The final selection will be announced at the ACT’s Annual Dinner and there will be detailed analysis and profile of the Deals in the December issue.
Not to be ignored are our other features this month: the second part of the series of articles on Euro Cash Pooling, starting on page 28, which includes an interesting insight from BT; and the Spotlight on Treasury Operations, Systems and Payments, boots on page 42, and includes a case study from Shell.
We have had a changing of the guard with The Treasurer team at Ocean House. Zoe Shoesmith will now be working with us as Editorial Assistant, replacing Nicola Harvey who has left. Chantal Feduchin Pate has left as Advertising Sales Executive and we are looking to replace her as soon as possible. Denis Murphy, our Media Sales Manager, will certainly have his hands full managing The Treasurer, The Treasurer’s Handbook and sponsorship opportunities.
MIKE HENIGAN
Managing Editor
The Association has responded formally to Derek Higgs’ recent consultation paper, taking a strong line on independent board representation.
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Falling foul of bad debt can be disastrous for UK firms. But Nicholas Johnson of Glaisyers says if they take the necessary legal steps being stung by poor credit control management can be easily avoided.
Bob Lyddon’s second article accompanying the ACT’s work on Euro cash pooling, provides a guide for treasurers at the analysis stage.
David Sams and Richard Humphreys of BT Group Treasury track their group’s progress in developing, selecting and implementing a successful Euro cash management system.
The loans market has had more than its fair share of woes these past 18 months, as Declan McGrath of Royal Bank of Scotland discovers.
Jan Hussmann of Shell, and Ricky Kaura and Simon Jones of JP Morgan outline how oil giant Shell overcame the complexities of setting up a successful regional treasury centre in Asia.
Many companies are installing enterprise planning and resource systems (ERPs), sourcing them from key suppliers such as SAP, PeopleSoft, JD Edwards and Oracle. But installing them and integrating them into all the existing systems within the company is a time-consuming and expensive process. Therefore, many firms look to leverage off this investment. In the finance area shared service centres, or ‘payment factories’ are often the natural areas to consider.
Jackie Chia-Lindahl and Magnus Hacker on developing an it strategy that will enhance your business no end.
Are you still struggling with data that’s 24 hours old, when what you’d really like is up to date information? Now Alan Macfarlane and Bob Dant of Centric Strategies have the answer.
Gary Williams explores some of the pitfalls in implementing a treasury management system, and reveals what actions can be taken to manage the risks.
Outsourcing your treasury management system and cutting down on the costs sounds the perfect set up, but it isn’t always so, says Peter Barnes of KPMG.
John Salter and Saw Hooi Him analyse the opportunities presented by electronic bill presentment and payment, stemming from the introduction of browser-based technology and the evolving role of the treasurer.
Marrakech CEO Kelly Murphy explains why corporate treasurers and finance directors should take a closer look at e-procurement in the drive for operational efficiency and working capital management.
