TOMATO CATCH-UP: Newsletter Issue 163 – August 2013
Your monthly resource on working capital, process optimization and issues relating to the world of corporate treasurers, IT professionals and bankers!
We at Tomato hope that you’re enjoying the summer months despite the erratic weather. We’ve been as busy as ever, embracing our clients’ challenges and learning from new developments. If you’re faced with an unprecedented issue that requires attention, don’t hesitate to call us. We most likely have come across a similar issue before and can guide you toward a solution that works for your particular setup.
Enjoy the variety of topics covered in this newsletter!
Regula Spottl
In Today's Issue:
TOMATO UPDATES
Finance, Banking And IT
- Restrukturierungsmassnahme: Aufhebung des Cashpool
- Use of Mobile Payments Is Increasing
- What CFOs Should Do about Data
MANAGEMENT AND CAREER
- Publication: A “Lean” Approach to Performing Work
- CIO’s heutige und künftige Herausforderungen
- Eye Contact from Boss May Signal Praise
- Silicon Valley Developers’ Work-Life Management Strategies
MISCELLANEOUS
What We at Tomato Are Doing this Summer
Contrary to usual summers with vacations in Southern Europe, Martin and his family are spending their time at home. Martin’s goal is to work four days a week with some exceptions when necessary. Early in the year, Andreas Carl spent 20% of his time as a flight instructor. He is at the office during the summer managing the team, work and customer contacts. Andreas Häberlin, our IT specialist, is spending a month studying at a university and traveling in the U.S.; and I’m working from home much of July and August with just one trip to New York to see a Broadway Show, and visit friends and a long weekend at the beach.
Restrukturierungsmassnahme: Aufhebung des Cashpools
Der Immobilienkonzern IVG ist hochverschuldet und hat in einem neuen Geschäftsplan verschiedene Massnahmen vorgelegt, die den Konzern wieder cashpositiv machen sollen. Eine der Massnahmen involviert die Suspension des Cashpools.
Details im Artikel „IVG-Restrukturierung: Cashpool suspendiert“ im Der Treasurer Ausgabe 14/201.
Martin
Schneider’s Kommentar:
Nach
einigen schlechten Erfahrungen aus dem vergangenen Jahrzehnt zeigt dieser Fall
auf, dass Cashpool ein Schönwetter Produkt ist, das ideal einsetzbar ist, wenn
eine Firma gut läuft.
Wenn ein Corporate in Liquiditäts-Schwierigkeiten gerät, darf der Cashpool jedoch nicht für die Liquiditätsversorgung der Muttergesellschaft herhalten.
Im IVG Beispiel wird ein Cashpool aus Sicherheitsgründen unterbrochen bis die Gruppenliquidität wieder adäquat ist.
Use of Mobile Payments Is Increasing
The 2013 gtnews Payments Survey indicates that a mere 7% of companies use some form or mobile payments technology. However, research suggests that this number will increase to almost 20% in three years.
Using mobile payments technology involves any type of mobile devices that perform such treasury activities as “payment initiation, authorisation, bank account balance and transaction views, analytics and market research”, says David Kelin, a contributing editor for gtnews.
Mr. Kelin explains situations in which this type of payment is useful. He also highlights “a few basic points” related to security.
Full story: Moving Beyond the Desktop: The Future's Bright, the Future's ... Mobile? (registration required, free)
Martin’s
Comment:
We at
Tomato are still not in favor of using mobile payments especially for security
reasons such as the difficulty of tracking such payments for audit purposes,
but we also see it as an unavoidable reality.
What CFOs Should Do about Data
Treating structured and unstructured data differently based on the value of each in business is a key in IT spending and if not done properly, it can be a major headache for the CFO.
Structured data exists within a database, unstructured data has no identifiable structure and includes for example “Microsoft Word, Excel and PowerPoint, PDF files, pictures, audio, video and social media” etc. Most of the data growth happens with unstructured data and is located in corporate IT. Therefore, the company is responsible for storing, backing it up and protecting it.
In the cfo-insight.com article ”What Should CFOs Do About Data?”, Steve O’Neill, CFO EMEA Strategic Operations at EMC Europe, explains the two different types of data, how to sort data, and the concept “Infinite storage.” He further explains that “IT needs to make sure that prime storage assets are for prime data only in order to gain maximum benefits from IT efficiency and the lowest cost per gigabyte.” He also lists the benefit this provides for the business. Full story…
Publication: A Lean Approach to Performing Work
In June 2013, PWC published the brochure “Finance transformation: A Lean approach to increase value.” They suggest that Lean is the response for dealing with the numerous pressures finance and accounting leaders face.
PWC promotes this approach as a philosophy that focuses on “doing more of the right tasks with less.” They promise improved workflows, sustained process excellence and continuous improvement of results, as well as the transformation of finance and treasury into a customer-focused organization.
Sounds too good to be true? Get an impression by downloading the 10 page pdf.
CIO’s heutige und künftige Herausforderungen
Computerworld hat mit Jörg Winkelmann von IBMs Center for CIO Leadership über die Führungsrolle von IT-Leitern gesprochen. Themen:
- Kompetenzen die ein moderner CIO braucht
- Drei Schlüsselkompetenzen
- Die grösste Herausforderung für den CIO von morgen
- Themen, die für Schweizer CIOs aktuell anstehen
- Zukunft von NSA-Problematik und Public Cloud
- Change Management: Was leisten die CIOs?
- Ist ein Informatik Studium für den modernen CIO unerlässich?
Computerworld: CIOs: Führungsetage statt Rechenzentrum…
Eye Contact from Boss May Signal Praise
Nonverbal signals in business interactions are often more important than the words spoken. Also important is the amount of eye contact someone receives from coworkers and supervisors. “If the boss looks at you longer than at your co-workers during conversations or meetings, it may be a sign your star is rising,” suggests Sue Shellenbarger in the the Wall St. Journal blog “Is the Boss Looking at You? You’d Better Hope So.”
Ms Schellenbarger refers to research showing that “eye contact signals status and influence in both one-on-one conversations and group meetings.” In her article, she lists a significant body of research highlighting the importance of nonverbal communication in business. Full story…
Silicon Valley Developers’ Work-Life Management Strategies
As too many employees struggle with work overload and on-the-clock connectivity, some companies are reviving the Agile development process, which is based on the original "Agile Manifesto," composed by 17 software developers in 2001.
The Agile Manifesto consists of the 12 principles of management, “including a focus on face-to-face over digital interaction, simplicity ("maximizing the amount of work not done"), and sustainable development.” When followed religiously, the process enforces work-life balance.
In the Huffington Post article “What Silicon Valley Developers Can Teach Us About Happiness at Work,” Carolyne Gregoire lists and elaborates on “Agile principles that anyone can use to boost productivity -- and happiness -- at work.” Full story…
Many condemn social networking as productivity killers and “weapons of mass distraction.” Interestingly, in the 1600s in England, similar alarms were raised about the coffeehouse, which was the new media-sharing environment at the time. Young people who were networking at coffee shops seemed to lose their ability to concentrate on their studies and work.
In the New York Times opinion piece “Social Networking in the 1600s”, Tom Standage lists the various activities and exchanges people conducted at these coffeehouses. He further explores the actual impact coffeehouses had on productivity, education and innovation. They were not enemies of industry at all; they “were in fact crucibles of creativity, because of the way in which they facilitated the mixing of both people and ideas”, Mr. Standage proclaims. They also set the stage for innovation for businesses as merchants met and discussed business.
The article illustrates how we can learn from the past as we tackle the issues raised by new technologies. Full story…
Based on Elizabeth Dunn and Michael Norton’s book Happy Money: The Science of Smarter Spending, Shannon Ables, Founder & Editor of The Simply Luxurious Life, put together a list of “9 Ways Money Can Buy Happiness.” These ways include:
- Buy Time: Hire a housecleaner, babysitter, any chore that you can “outsource”.
- Buy Experiences: Spend money on vacations, classes, events: any opportunities for growth and connecting with others etc.
- Buy Quality
- Buy Knowledge: books, classes, new travel destinations
- Invest in Yourself and Others: to ensure your financial future and that of someone who needs help
- Bring People Together: Creating healthy and gratifying connections
- Buy Good Health: Quality food and preventing problems improves your quality of life
- Buy Now, Enjoy Later: Plan and organize vacations for example. Educate yourself once the logistics are in place
- Appreciate Simple Pleasures: flowers, fresh berries, local wine, hike in the mountains etc.
Making smart decision on how we spend our money helps reduce stress, be healthier and enjoy life more fully.
From the Desk of Regula Spottl, Greensboro, North Carolina
The article proclaiming that Social Networking is not new, that it happened in British coffee houses in the 1600s and raised concerns similar to those raised about Facebook, Twitter etc. intrigued me. Coffeehouses as places to exchange ideas happened in most cities much earlier. The most vivid examples for me are the Wiener Kaffeehaus and how important it was in shaping Viennese culture. English coffeehouses, in the 17th and 18th centuries, were public social places where patrons discussed politics, scandals, daily gossip, current events, as well debates on philosophy and the natural sciences. Then the Cafés in early 20th century in Paris where the American expats and the existentialists met! Zurich and the Dada movement come to mind as well.
Historically, the coffee house was a place where writers, artists, scientists, and politicians met. I think that still happens. For example, I mentioned before that on weekends, Marty and I usually go to a coffee shop near the university to read the papers and meet regulars, many of whom are retired professors or jazz musicians. It’s one of the rituals in our life that a miss if I’m not in town!