Date: May 30, 2018

Achieving Cash Visibility and Security (I)

Session Description

This session will explore the increasing trend toward security for corporates when determining cash visibility and forecasting.   In a recent survey by Strategic Treasurer and Bottomline Technologies on Cash Forecasting and Visibility it indicated that enterprise security was 65% more important to survey respondents than last year. Despite the recent trend of increasing awareness for the for fraud detection and prevention, the risk of losses and reputational risk have continued to put pressure on companies to  develop better fraud protection controls in their payment systems when determining cash visibility and forecasting future liquidity needs. 


Cash reporting continues to see a TMS increase with 49% of firms in the survey currently using a TMS for cash reporting.  A large majority of firms (81%) are still relying on Excel or other spreadsheets for cash reporting. Spreadsheets are prone to error ad insufficient audit trails. They also lack signatory controls, separation of responsibilities and a secure process.


The rise of fraud and cybercrime has made CFO’s more responsible for assuring that there are adequate financial technology controls in place at their organization.  It will become more important for Treasury along with their IT department to reduce operational risk by have the proper technology in place to sufficiently control the security risks associated with Cash Visibility and forecasting.



Speaker Information

Craig Jeffery formed Strategic Treasurer in 2004 to provide corporate, educational, and government entities direct access to comprehensive and current assistance with their treasury and financial process needs. His 25+ years of financial and treasury experience 

as a practitioner and a consultant have uniquely qualified him to help organizations craft realistic goals and achieve significant benefits quickly. 


Craig was previously a Senior Vice President and Practice Leader for Wachovia Treasury & Financial Consulting. Prior to Wachovia, he worked with a major regional bank as Vice President and worked in the Information Management, Investment, and Treasury Divisions at The Hartford. 


Craig graduated from the University of Connecticut with a B.S. in Accounting. He is a permanently Certified Cash Manager, an Accredited ACH Professional and a Fellow of the Life Management Institute with distinction.

Art Lorenz was most recently Treasurer & Sr. Director of Finance at Hunter Douglas, a global market leader in custom window coverings. Art had the dual role overseeing the treasury and FP&A functions for the organization. He was responsible for the treasury, credit, banking, retirement plans, risk management, planning, budgeting, forecasting, management reporting and analysis functions.

Art has led improvements in financial operations, processes and cost management. Including; establishing an online receivables process saving $1.0m; several software implementations; obtained $1.7m in card rebates; executed numerous cost reduction initiatives saving $6.0m and implemented supply chain improvements saving $8.0m.

Prior to joining Hunter Douglas, Art held various financial and audit positions at a diverse group of companies including, Reuters America, Philip Morris International, Continental Grain and KPMG.

Art holds a BS Degree from the State University of New York in Accounting and an MBA in Finance & International Business from New York University. He is both a Certified Public Accountant (CPA) and a Certified Treasury Professional (CTP).

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