Katharina Schön
Social Distancing and the associated home office lead to an increased demand for online identification of users and gives a push towards digital signatures. The providers with secure and user-friendly solutions that existed before Corona are now increasingly expanded by FinTechs. As a result, the tedious and time-consuming KYC process, e.g. when opening bank accounts,…
Did you know that from the end of November 2020 public authorities in Germany will only accept electronic invoices in a specified format? This puts public institutions ahead of private companies, where invoicing is still very diverse. Here, electronic invoices are mostly PDF documents whose further processing is not guaranteed electronically. Paper invoices will also…
Is your liquidity declining drastically? Is the turnover collapsing? What about your credit rating? Are you threatened with insolvency? Do you still have an overview of your payment obligations and incoming payments in the face of a suddenly changing situation? How long is your company’s liquidity still secure? The times when you could derive your…
Do you have real crisis managers in your team who remain calm and adapt quickly to new and changing situations? Do you know the impact of the corona crisis on your supply chains and on your personnel and financial needs? Which are your expected scenarios? Are your financial status and liquidity planning both up to date?…
The Deutsche Kreditwirtschaft published statistics about payment methods in Germany.[1] There are 4,5 billion transactions by Girocard (debit cards) per year with an average payment amount of 46,86€. What does it mean for retail? The development of payment procedures of the retail sector was analysed by the newsletter of „Finanz-scene.de“. In total, the share of…
How are you after 14 September 2019? On this day more clauses of the EU Payment Services Directive 2 (the so-called PSD2) came into force. What was its impact on your company? Have your house banks informed you in due time about their solution to implement the two-factor authentication? The directive is an important step…
Lately, a founder asked me if I also consider production and logistics processes when dealing with cash flow optimization. An interesting question which also shows the wide-spread misunderstanding that financial management and accounting are only back-office functions. In a way, just a tedious burden far away from operations. But this is not the case, not…
Ihr Cash Flow, der sich aus den Ein- und Auszahlungen für eine bestimmte Periode ergibt, sollte positiv sein. Ein positiver Cash Flow verbessert Ihre Zahlungsfähigkeit und folglich die Einstufung Ihrer Bonität, Ihr Rating Ihre Kreditwürdigkeit den Wert Ihres Unternehmens. Bei einem negativen Cash Flow wird nicht umsonst von Geldvernichtung gesprochen. Deshalb ist ein Cash Flow…
Modules for the Money Transfer, the electronic statements (Balance Reporting) and for a Planning tool (Treasury) are components of a Cash Management Systems. A number of regulations apply for Cash Management systems like for all financial systems. The framework relates essentially to functionalities of journals and supporting documents, changes made to them and to period…
The daily transfers of balances and the adjustments of negative balances on bank accounts to and from a main account are called Cash Pooling. Such concentration of liquid funds is not recommended for some currencies to avoid penalty interest. To carry out Cash-Pooling on a group level, you need intercompany contracts about the intercompany interest…
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