www.AFPonline.org AFP Exchange I 1

CONTENTS

34 AFP ResearchResults from the inaugural FP&A Benchmarking SurveyAFP Research Department

38 Corporate FinanceMaking multi-participant budgeting workJoanne Brunn

42 Treasury ManagementMoney fund reform is here. Is your TMS ready?Thomas C. Knight, CCM

45 Corporate FinanceKeys to improving T&E compliance Robert Neveu

NOVEMBER 2016VOLUME 36 NUMBER 9

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48Global Treasury & FinanceA smarter way to global cash visibility Staff Writers

50 PaymentsInstant payments and blockchain: bedfellow or opposites?Pankaj Gindodia

53 PaymentsHow one firm overhauled its fraud securityDeborah Peace

56 PaymentsHow merchants are maximizing armored transport pickupElley Frost

60 FP&ABest practices for forecasting amid fast growthTom Russell

64 FP&ARunning FP&A at a private equity-owned firm is no easy taskNilly Essaides

68 FP&A Certification The latest class of Certified Corporate FP&A Professionals

2 I AFP Exchange November 2016

AFP, Association for Financial Professionals and the AFP logo are registered trademarks of the Association for Financial Professionals. ©5/16.

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2016 AFP Benchmarking Survey: FP&A, a Function in Transition

COLUMNS NOVEMBER 2016

4 From the President & CEO Jim Kaitz

10 Current Events Treasury departments mull shared service centers John Hintze

14 FP&A Foresights Introducing AFP’s FP&A maturity model Nilly Essaides

20 Treasury Essentials How do you create a reliable cash forecasting process? Ankur Bhandari

24 Risk Column What does the high-volatility era mean for CFOs? Mark O’Toole

28 FP&A Foresights How FP&A can cope when a crisis strikes Nilly Essaides

32 Payments Essentials What does faster ACH mean for businesses? Rick Burke

70 Highest Ranks CFO, VP and other executive appointments

72 The Bottom Line Wait Till Next Year Ira Apfel