by Pierre Fersztand, Global Head of Cash Management at BNP Paribas
“In this new world order and disorder, it is important to distinguish between the trend and the trendy. The former has real, long-term implications that affect the fundamentals of the way that we live and work; the latter may be glamorous and rapidly-moving, but is less important to our society. Over the past few years, it has become increasingly difficult to distinguish between the two.”
These were the words of Dr Dominique Moïsi, co-founder and senior advisor to the Institut Français des Relations Internationales (IFRI), Pierre Keller Visiting Professor at Harvard University and visiting professor King’s College London, speaking at BNP Paribas’ 7th Cash Management University.
In a fast-changing environment of geopolitical shifts, regulatory change, market volatility and technology innovation, it is often difficult to identify where treasury professionals should focus. Which are the initiatives that will help to create long-term value and which will have only a short-term impact? A regular treasury theme in recent years has been the growing importance of cash and liquidity management for multinational corporations. No longer is cash management considered simply an administrative activity, it is recognised as an essential treasury function on which the day-to-day existence, and long-term ability of the company to invest in growth, is founded.
To help cash and treasury management professionals navigate through complexity and change, BNP Paribas was once again proud to host the Cash Management University which took place in June 2014 in Paris, France with the theme of “Cash Management: More Valuable Than Ever”. Over 250 corporate delegates from around the world participated, supported by BNP Paribas and its partners, Ace, Bottomline Technologies, SWIFT, PricewaterhouseCoopers, SAP and Worldline. Since it was first launched in 2006, the Cash Management University has gone from strength to strength and attracts many of the world’s most respected treasurers and cash managers who share their expertise and insights on a wide range of cash management issues and priorities. This year, as a reflection of BNP Paribas’ focus on harnessing innovative technology to create solutions that address our customers’ needs, we used iPads for the first time at the Cash Management University to enable delegates to participate in interactive forums and polls throughout the Cash Management University, and provide real-time feedback, opinions and questions.
BNP Paribas is a stable, dependable partner for our customers through changing times in which cash management will continue to be key
The Cash Management University moved from December to June this year, coinciding with the visit of many world leaders to Paris to commemorate the D-Day landings of 1944, 75 years ago. Dr Dominique Moïsi, quoted above, who joined us on the first day of the Cash Management University and attended the Normandy commemorations on the following day, emphasised the nostalgia of a commemoration that many veterans attending this year will not attend again.