Navigating a New World at Eurofinance 2023
By 5 minute read• Published September 29, 2023 •
This year’s Eurofinance brought the energy, insight, and networking we were looking for in Barcelona. It’s truly been inspiring to be with our partners, peers, and potential customers in person.
Keeping up to date on the geopolitical atmosphere of our European associates, along with plugging into the latest trends and challenges in treasury has been invaluable. Here are some of the event highlights that really made an impression on our TEAM:
Geopolitics & Macroeconomics
The early sessions on the first day were a great analysis into how today’s challenges – influenced by crises of the past – are affecting both individual government decisions and trade relationships internationally.
The last few years have proven that global relations are constantly evolving, making it hard to anticipate where, when, or how disruptions will affect business. This was emphasized during the “Economy: global growth outlook positive as risks linger” conversation. Christian Odendahl, with The Economist, said there were “4 major challenges: macroeconomics, geopolitical shifts, climate change, and weaker finances” affecting businesses today. It was easy to appreciate Alexander Lehmann and Jose-Luis Peydro’s added insight on the matter.
From bank failures to war, everyone’s in a position they were not anticipating. But the sentiment at the event was that there is a light at the end of the tunnel – starting with stagnating interest rates.
The Reality Behind Treasury Roles, Strategies, and Challenges
Many of the streams taking place this year gave a behind the scenes look of what it really takes to operate a successful treasury team for corporations both large and small.
During “Treasury strategy: powering competitiveness”, with insights from our partner, Mack Makode, VP, Treasurer at Under Armour, we learned the importance of building an adaptive team with valuable skills. The treasury department has to be adept and coordinated for the health of the company.
We learned how the perceived role of Treasurer no longer aligns with the evolving position. Today, a treasurer is in charge of liquidity management, international risk awareness, insurance management, and more. They must be adaptive, risk-minded, and tactical. In times of economic disruption, volatility can truly rock an organization’s cash flow, risking liquidity. But building credibility for your brand can enable you to pivot and make the changes necessary to recover.
Balancing risk mitigation with growth opportunities is all about investing in the right strategies. The right tools make all the difference. Technology allows you to be strategic, offering cash flow visibility, simplified management systems, and supply chain finance solutions – tools PrimeRevenue is intimately familiar with.
Liquidity, Forecasting, and Working Capital
Our other favorite conversations surrounded how to make working capital work for you – whether that be via partnerships or solutions. Carol Thurnheer, Manager of International Treasury at Haleon shared how building positive partnerships has impacted her operations in “SCF & sustainability: creating authentic relationships”.
Mark Douglas, our own Managing Director of Strategic Accounts, joined her and elaborated on how building a program with buyers as a team can set the stage for success. It doesn’t matter how quickly you set up a program if it doesn’t have clear purpose and direction. It’s important to “be empathetic”, according to Mark. Doing so has helped his relationship with Haleon prepare to grow in new markets together.
Many other speakers shared their wins – or at least support – like receivables financing solutions, cash forecasting strategies, and their abilities to manage liquidity in today’s inflationary environment.
Braving the New World Together
There’s no debate that we’re all playing on a different board than we’re used to. But it has been encouraging to hear how others are rising to today’s challenges. Being among our peers has reinvigorated our TEAM. We’re excited to bring what we’ve learned back home and apply it in new ways to support our customers.