We have started this year by attending two interesting conferences: the Bellin user conference 1TC and the business conference Nordic Cash and Treasury. So has Johan Isaksson, Group Treasurer of Itab, one of Europe’s leading suppliers of shop concepts. We called him up to get his main takeaways from these events.
Bellin 1TC is a user conference attracting more than 400 users and treasury executives working with Bellins treasury system tm5. The conference focuses on updates and other news in the Bellin ecosystem of clients and of course their flagship the tm5 treasury system. Partners as Swift, banks and other interesting actors in the fintech business show how you can expand and optimise the use of tm5. Bellin also highlights companies and treasurers that have made successful implementations and solutions for the attendees to copy or be inspired of.
“You meet many like-minded that are in the same situation with the same kind of challenges as yourself. This is one of the great benefits of attending this conference”, Johan Isaksson says. “We help each other to find different solutions.”
1. Using Swift services with tm5
The most important outcome of the conference for Johan Isaksson is that he got updated on several new services and opportunities with tm5.
“Swift for corporates, that makes it possible to do your payments within tm5, is an interesting example. We use different banks around the world and they all use the same language, Swift. With this service you don’t have to use different online banks for every country or subsidiary. Instead you can use tm5 for all payments worldwide, with one central administration and authorization.”
Johan Isaksson also mentions the upcoming service for instant payments as an exciting update from Swift.
2. Cyber crime – a part of a treasurers’ workday
The Nordic Cash and Treasury conference is quite different from Bellin 1TC. Here treasurers from the Nordic countries with all kind of different systems meet up for two days of general business updates, macro analysis and focus on the Nordic treasury market. Except different updates on services and new fintech solutions, Johan Isaksson mentions cyber security as one interesting topic on the conference.
“It was interesting to listen to the representatives from the Swedish police and how they are fighting cyber crime. As a treasurer you clearly see how it is increasing, it is part of our workday.”
Johan Isaksson underlines the importance of having proper verifications and attest routines.
“It is all about following routines without exceptions and never to act on mails from superiors regarding payments.”
3. The latest updates within supply chain finance
Nordic Cash and Treasury is much about networking and establishing contacts. Johan Isaksson stresses that this is one of the main benefits of attending a business conference. He mentions his meeting with fintech provider Taulia as an opportunity to get the latest updates within supply chain finance.
“It is interesting to get paid by your clients as early as possibly and simultaneously have longer terms of payment towards your suppliers without they being affected, as they also may get paid earlier if we use a financing solution as Taulia’s. It is interesting for us to board their system as we have clients that use Taulia.”
4. Local cash pooling
Johan Isaksson also mentions a presentation of the Finnish IT service and software provider Tieto. They introduced an upcoming service that manages virtual accounts with local clearing, even in countries where the bank is not represented.
“This enables local cash pooling wherever you need it, without being dependent on where your bank has local accounts.”
5. Keep track on game changing technologies
It happens a lot right now in the field of treasury and working capital solutions, with machine learning and artificial intelligence gaining ground. Attending conferences and business exhibitions may be more important than ever to keep track on game changing technologies and solutions. Johan Isaksson returns home better prepared for future, important business decisions. In spite of the rapid digitalisation he is not stressed.
“Let’s wait and see what technologies will have a breakthrough. The next few years will be very exciting.”