TMI Audio

Are You Sitting (Too) Comfortably?

My Life in Treasury. Matt Grundy, Head of UK Treasury at Capital One Europe talks to TMI about the pressures, prospects, and possibilities he encounters within the UK subsidiary of this US financial giant.

Budget Offers UK Breathing Room But Questions Persist

Explore the impact of the latest central bank rate projections with Northern Trust Asset Management’s crucial insights for treasurers.

A Treasurer’s Privilege: My Life in Treasury

In September 2025, John Gilsenan retired from his full-time role as Head of Compliance at investment firm Quilter Cheviot Europe, having forged a great depth of experience in the international financial services industry over his long career. A qualified Chartered Certified Accountant, Chartered Tax Accountant, and Licentiate of the Compliance Officers of Ireland, he spoke […]

Making Tokenised Payments a Treasury Reality

The opportunities and potential for tokenisation to support global liquidity management alongside traditional payments are there for the taking. Lewis Sun, Global Head of Domestic and Emerging Payments, Global Payments Solutions, HSBC, talks to TMI about the options for treasurers.

Perfect Chemistry: Gedeon Richter’s Formula for Cash Control

By pooling cash across 12 Western European countries, Gedeon Richter has centralised half its liquidity. This has sharpened governance, lowered costs, and created a platform for regional and digital ambitions.

Essity’s One Treasury Ethos Powers Progress

Through deep integration, automation, and a culture of collaboration, global hygiene and health company Essity has achieved 99% STP and reshaped how it manages risk, payments, and intercompany flows. The outcome is a treasury model ‘that reaches for the stars’ and one that others can learn from.

A Decade in Dialogue: Celebrating 10 Years of Journeys to Treasury

As the Journeys to Treasury (JTT) collaboration marks its 10th anniversary, the project stands not only as a record of evolving treasury priorities but as a reflection of the profession’s ability to learn and adapt – under pressure and often without fanfare. Here, we examine how the JTT report (and now event and podcast series) […]

The Making of Treasury’s Chief Education Officer

Jason Murphy is Co-Founder and Executive Director  of Corporate Finance Advisory Group, Centrus. He is also currently the President of the IACT. A Fellow of the Association of Chartered Certified Accountants (ACCA) and a past Chair of ACCA Ireland, with more than 25 years’ investment banking and financial advisory experience. Murphy also lectures on Treasury […]

Political Uncertainty Weighs on Central Bank Decisions

Explore the impact of the latest central bank rate projections with Northern Trust Asset Management’s crucial insights for treasurers.

JTT 2025 – Conclusion – THE PILLARS OF JOURNEYS TO TREASURY

Please see all 12 episodes of JTT 2025 below, in this final chapter we say thanks to the contributors. The strength of Journeys to Treasury (JTT) has always extended beyond the report itself. Its unparalleled value lies in harnessing the collective expertise of four leading institutions—BNP Paribas, PwC, SAP, and EACT—and their global networks of specialists. For […]

JTT – Chapter Twelve – REWIRING TREASURY AT ZOETIS

Twelve years after spinning out from Pfizer, Zoetis has built a lean, centralised treasury that is digitally enabled and strategically engaged. Assistant Treasurer Michel Verholen reflects on the tools and tactics behind the transformation and how visibility, automation, and AI are setting the stage for what is ahead.

JTT – Chapter Eleven – AI’S TREASURY MOMENT

AI is no longer a distant promise. Step by step, treasury teams are using it to rethink how they work by combining data, technology, and human judgment. From virtual assistants to predictive models, real-world use cases are beginning to deliver results.

JTT – Chapter Ten – RACING THE CLOCK AND WINNING!

Faced with a product recall and €1bn in excess inventory in quick succession, Accell Group’s treasury team found themselves facing a steep uphill climb. Their response: a full pivot from traditional cash pooling to an integrated in-house bank, all of which was designed, constructed, and implemented in record time.

JTT – Chapter Nine – VIRTUAL ACCOUNTS AND THE RACE FOR REAL-TIME LIQUIDITY

Treasurers are intensifying their efforts to achieve instant cash visibility and control. Virtual accounts, APIs, and real-time data offer the potential for faster decision-making and more streamlined operations, as long as integration, regulation, and cultural change are managed carefully.

JTT – Chapter Eight – VERIFICATION OF PAYEE

As the EU prepares to mandate Verification of Payee across the SEPA region, its implications are already under scrutiny. For corporates, the road may be bumpy, but with stronger identifiers, clearer implementation rules, and deeper collaboration, the destination is still within reach.

JTT – Chapter Seven – TACKLING PRACTICAL QUESTIONS IN VERIFICATION OF PAYEE’S ROLLOUT

Corporates are preparing for the EU’s instant payments regulation, but the path to adopting Verification of Payee is proving complex. Treasury teams are exploring practical ways forward while calling for closer collaboration between banks, regulators and technology providers.

JTT – Chapter Six – BANKING ON CHANGE

At Comcast, what began as an ambitious clean-up of legacy accounts has evolved into a multi-year transformation that continues to reshape how treasury operates and how it’s perceived. The treasury team hasn’t just streamlined systems. It has rebuilt trust, unlocked cash, and earned a seat at the strategic table.

JTT – Chapter Five – THE FUTURE OF PAYMENTS

Incoming and outgoing payments are central to a corporate treasurer’s responsibilities because they directly impact liquidity, risk management, and operational efficiency. Today, treasurers face a wave of changes, from instant payments and ISO 20022 to digital currencies and e-invoicing, each of which hasimplications beyond simple regulatory tick-box exercises.

JTT – Chapter Four – TREASURY AUTOMATION IN ACTION AT EVONIK

Evonik’s treasury team has embedded automation at the core of its operations, from near-total payment straight-through processing to real-time liquidity dashboards. With integration, visibility, and control as guiding principles, the team is redefining how digital tools support risk management, compliance, andstrategic decision-making.

JTT – Chapter Three – FROM COMPLEXITY TO CLARITY

DEME’s treasury has evolved from decentralised roots to a strategic, centralised function. This sees the team tackling everything from forecasting blind spots, embedding ESG in financing, and navigating the promise and pitfalls of AI.

JTT – Chapter Two – DIALLING UP CASH FLOW AT VODAFONE

Vodafone is turning cash flow into a companywide mission. From payments to network build-outs, teams weigh the cash impact of everyday choices so the business can fund growth from within.

JTT – Chapter One – ASSEMBLING THE BUILDING BLOCKS FOR CHANGE

Treasurers are going back to fundamentals, according to the Treasury Survey 2025 from the European Association of Corporate Treasurers. Cash flow forecasting has returned to the top of the agenda, and while digital transformation is a focus, the work begins with systems, data, and skills rather than quick fixes.

Journeys to Treasury 2025 – Introduction

This year marks the tenth edition of Journeys to Treasury, representing a full decade of collaboration, reflection, andforward-looking insights. Since its launch in 2016, the project has charted treasury’s evolution inaspects such as cash pooling and centralisation, as well as the latest trends in automation, ESG, and AI. Over the years, much has changed. But one constant remains: the need for treasurers to master the […]