In this episode of Corporate Treasury 101, we sit down with Daniel Kalish, CEO and Co-Founder of Nilus, the AI-native cash management and treasury platform redefining how modern companies manage liquidity, forecasting, and financial control. With treasury complexity accelerating far faster than company growth, Daniel breaks down why today’s teams are under unprecedented pressure, and how agentic AI is reshaping what’s possible.

Drawing from real-world implementations and insights across fast-growing and global companies, Daniel explains why traditional treasury stacks can’t keep up, why cash visibility remains the No. 1 pain point, and how AI can move treasury from reporting to true strategic impact. He also shares how Nilus’s agentic architecture is transforming liquidity planning, enriching data at scale, identifying risks in real time, and delivering ROI within weeks, not months.

Whether you’re leading a treasury function, evaluating your next TMS, or preparing your organization for an AI-driven future, this conversation offers a practical and actionable look at the next era of treasury. Daniel’s perspectives on implementation, data reliability, and the future role of treasury leaders provide a blueprint for teams looking to increase control, reduce manual work, and unlock strategic value in 2025 and beyond.

What You’ll Learn in This Episode

• Treasury Pain Points Today: Why companies that grow 2X often face 10X more treasury complexity, and how lean teams are struggling with visibility, control, and manual work.

• Cash Visibility & Data Challenges: The hidden cost of poor data, why teams still rely on spreadsheets, and how enriched transaction-level data unlocks real forecasting accuracy.

• Agentic AI vs. AI-Enabled Tools: The difference between legacy TMS platforms that “bolt on” AI and AI-native systems built to automate, analyze, and act in real time.

• Implementation, Speed & ROI: How Nilus connects banks and ERPs in days, and how treasury teams gain immediate productivity, control, and financial returns.

• The Future of Treasury Leadership: Why treasurers remain essential decision-makers, and the skills leaders need as AI shifts the function toward strategy, oversight, and proactive decision-making.

Episode Breakdown with Timestamps

[00:00] – Introduction

[02:02] – The most common symptoms that signal a treasury stack is breaking down

[08:30] – Cash visibility: why companies still struggle and the real cost of not knowing where cash sits

[10:43] – AI-enabled TMS vs. AI-native platforms: what legacy tools can’t do

[14:39] – How agentic AI works: data enrichment, pattern recognition, policy engines & decision support

[17:59] – Solving the data accuracy problem and how AI improves forecast reliability

[21:54] – Real examples where AI surfaced risks and opportunities treasury teams previously missed

[23:55] – Implementation speed: connecting banks & ERPs in days, not months

[27:26] – ROI drivers: productivity, control, liquidity optimization & trapped cash

[33:41] – How treasurers can become strategic leaders and expand their impact across the organization

Follow our guest Daniel Kalish:

LinkedIn: https://www.linkedin.com/in/daniel-kalish-74194768/

Nilus: https://www.nilus.com/

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In this episode of Corporate Treasury 101, we sit down with Stephen Randall, Global Head of Liquidity Management Services at Citi, to dive into the evolving landscape of treasury management and the future of liquidity solutions. With extensive experience in the treasury function, Stephen provides invaluable insights into how businesses are navigating volatility, the increasing need for real-time liquidity, and the role of technology, including AI, in transforming treasury operations.

Stephen discusses the key challenges treasury teams face today, from managing liquidity in real-time to leveraging AI for better decision-making and risk management. He also explores the significant shifts in treasury operations over the past few years, the role of data in modern treasury functions, and what future treasury teams must do to stay ahead in a rapidly changing financial landscape.

Whether you're leading a finance function, navigating the complex treasury landscape, or preparing for your first CFO seat, this conversation offers practical advice on managing liquidity, leveraging technology for efficiency, and future-proofing your treasury operations. Stephen’s insights into adapting to rapid technological advancements, data strategy, and embracing real-time liquidity management are crucial for professionals looking to stay ahead in today’s fast-evolving financial world.

• The Future of Liquidity Management: How companies are preparing for volatility while ensuring they have enough liquidity to capitalize on new opportunities in 2025 and beyond.
• The Speed of Change in Treasury: The shift towards real-time liquidity management and how treasury teams must adapt to faster data flows and transaction speeds.
• AI in Treasury: How AI is shaping the treasury function by enhancing forecasting, anomaly detection, and automating routine tasks for better efficiency.
• The Importance of Data: Why having clean, standardized data is crucial for modern treasury teams to make informed decisions and optimize liquidity.
• Treasury’s Evolving Role: How the relationship between treasury teams and their banking partners is changing and what that means for the future of liquidity management.

[00:00] – Introduction to Stephen Randall and the future of liquidity management

[03:30] – The biggest shifts in treasury operations over the last five years

[07:00] – Managing liquidity during uncertain times and volatile markets

[12:00] – The role of AI in treasury management and its impact on decision-making

[15:30] – Real-time liquidity and the rise of 24/7 treasury functions

[21:00] – Overcoming data challenges in treasury and how clean data drives better decisions

[26:00] – Key strategies for treasury teams to implement AI and automate operations

[30:00] – The future of treasury technology and the need for end-to-end connectivity

[34:30] – How Citi supports treasury teams in navigating these challenges and embracing new technology

Follow our guest Stephen Randall:

• LinkedIn: https://www.linkedin.com/in/stephen-randall-b97997207/
• Citi: https://www.citigroup.com/global
• Treasury Leadership: An Antidote to Market Stress:

In this episode of Corporate Treasury 101, we are joined by Sue Caras, Head of Global Commercial Banking for Global Payments Solutions at Bank of America, to explore the challenges and best practices treasury teams must consider when expanding internationally. With over two decades of experience in corporate treasury and global banking, Sue provides expert insights into managing cash flows, foreign exchange (FX) strategies, and navigating local regulations during international expansion.

Sue discusses the foundational decisions treasury teams need to make when entering new markets, the role of technology in streamlining operations, and the evolving regulatory landscapes across different jurisdictions. Whether you’re part of a growing middle-market company or supporting a multinational enterprise, this conversation offers practical advice on the strategic and operational aspects of corporate treasury during global expansion.

What You’ll Learn in This Episode:

• International Expansion Strategy: Key treasury decisions when scaling internationally, from starting with cross-border transactions to setting up full operations abroad.
• Cash Management Best Practices: How to establish an effective global cash management structure, including choosing banking partners, setting up accounts, and handling liquidity.
• Managing FX Risks: Approaches to mitigating FX exposure when invoicing in local currencies and handling fluctuating exchange rates.
• Navigating Regulatory Complexity: How to manage the regulatory challenges of different countries and understand the role of central banks in financial transactions.
• The Role of Treasury in M&A: How treasury teams support international business development through mergers and acquisitions (M&A).
• AI in Treasury Operations: How generative AI is transforming treasury functions, from forecasting cash flows to automating invoicing and reconciliation.

Episode Breakdown with Timestamps:

[00:00] – Meet Sue Caras from Bank of America

[02:35] – Key Treasury Decisions When Expanding Internationally

[03:51] – Building Best-in-Class Cash Management Infrastructure

[07:57] – Managing Currency Exposure and Natural Hedging

[13:18] – Best Practices for Organic International Expansion

[17:30] – Treasury’s Role in Mergers and Acquisitions (M&A)

[21:17] – The Impact of Tariffs and Global Market Volatility

[24:00] – How Bank of America Uses AI in Treasury

[31:29] – Real Client Case Studies of AI in Treasury Operations

[43:36] – Final Advice: Why Global Expansion Should Be Fun

Follow our guest, Sue Caras:

LinkedIn: https://www.linkedin.com/in/sue-caras-0a08ab169/

Bank of America: https://www.linkedin.com/company/bank-of-america-business/

• Website: https://corporate-treasury-101.com/
• LinkedIn: https://www.linkedin.com/company/86645197/admin/dashboard/

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• Hussam on LinkedIn:

In this episode of Corporate Treasury 101, we sit down with Philip Costa Hibberd and Jan-Willem Attevelt from Automation Boutique to explore how Robotic Process Automation (RPA) and Artificial Intelligence (AI) are transforming treasury and finance teams. From eliminating manual workflows to building scalable automation ecosystems, Philip and Jan-Willem explain how modern tech can unlock efficiency and empower treasury teams to focus on value-driving activities. Whether you're new to automation or considering a rollout in your organization, this is a treasury-forward deep dive worth tuning into.

Philip Costa Hibberd is the founder of Automation Boutique and a seasoned automation manager specializing in finance and treasury. Jan-Willem Attevelt is a technical expert in RPA, APIs, and AI, and brings extensive treasury experience to his work. Together, they help global organizations streamline operations through practical, no-nonsense automation strategies.

• What RPA is and how it fits into broader treasury automation efforts
• Why attended vs unattended bots matter—and where AI fits into the mix
• Practical use cases: from FX rate retrieval to multi-bank PDF parsing
• Why RPA is “macros on steroids”—and what it can do that Excel can’t
• The risks of automating broken processes and why simplicity wins

[00:00] – Introduction and AFP partnership ($100 off CTP certification)

[01:29] – Meet Philip and Jan-Willem from Automation Boutique

[03:02] – What is automation in Treasury, and why does it matter

[06:02] – What is RPA and how it works in a Treasury context

[08:04] – Security, attended vs unattended bots, and credential handling

[11:25] – How RPA and AI can work together in automation flows

[15:23] – Simple RPA use case: extracting data from PDF confirmations

[19:52] – Why RPA isn’t always the best solution – when to say no

[24:17] – RPA vs Excel macros: key differences and advantages

[30:22] – How bots interact with applications and system UIs

[36:05] – Is RPA suitable for small businesses? Cost and scalability

[39:40] – Using Excel and Power Query as a starting point for automation

[43:48] – Skills needed to start with RPA (free training and tools)

[46:53] – How to maintain RPA implementations without deep tech skills

[51:19] – Drawbacks of RPA: automating messy processes creates bigger problems

[54:41] – Common Treasury RPA use cases: reporting & master data uploads

[56:51] – Real success story: automating bank deal confirmation processing

[01:09:13] – Future of Treasury: combining RPA with AI for decision-making

[01:10:51] – Where to learn more: UiPath, Microsoft, and Automation Boutique

Website: https://www.automationboutique.com/

Philip Costa Hibberd on LinkedIn: https://www.linkedin.com/in/philip-costa-hibberd/

Jan-Willem Attevelt on Linkedin: https://www.linkedin.com/in/attevelt/

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In this episode of Corporate Treasury 101, we explore how corporate treasurers can enhance collaboration with Procurement and Accounts Payable (AP) teams to optimize working capital, reduce the cost of capital, and improve cash flow visibility. Tamir Shafer and Rajiv Ramachandran from Coupa share insights on the interdependencies between Treasury, Procurement, and AP, and how technology platforms can break down silos and streamline these critical financial functions. With growing complexity in supply chains and supplier payment management, treasurers need new strategies and tools to drive efficiency and financial health across the organization.

Tamir Shafer, Area Vice President at Coupa and a former Treasury practitioner, offers a unique perspective on how Treasury can better engage with Procurement and AP. Rajiv Ramachandran, Senior Vice President of Product Strategy at Coupa Pay, explains how integrated spend management platforms empower companies to gain early visibility into payments and cash flow forecasts while enabling innovative solutions like dynamic discounting. Together, they unpack how Treasury can become a strategic leader by working closely with these departments.

• The roles Procurement and AP play and their impact on Treasury operations
• How Treasury, Procurement, and AP interconnect to manage supplier contracts, payments, and liquidity risk
• Ways data analytics and technology platforms like Coupa improve spend visibility and cash flow forecasting
• Practical insights on dynamic discounting and working capital optimization across the supply chain
• Tips for breaking down organizational silos and fostering cross-department collaboration for financial transformation

[00:00] – Introduction and $100 AFP Certification Discount

[00:37] – Meet Tamir Shafer and Rajiv Ramachandran from Coupa

[02:17] – What Does a Procurement Department Typically Do?

[06:11] – Supplier Contracts, Risk, and Treasury’s Role

[08:54] – Understanding the Accounts Payable Process

[13:17] – Optimizing Working Capital through Dynamic Discounting

[20:01] – Simplifying Payment and Financing with Technology

[25:27] – Integration Challenges and Supplier Onboarding

[30:10] – Interdependencies Between Procurement, AP, and Treasury

[37:03] – How Coupa Enables Collaboration Through Unified Platform

[42:54] – Learning Across Departments and Breaking Silos

[48:00] – Why Coupa Linked Procurement, AP, and Treasury

[56:00] – Final Advice: Treasurers as Superheroes and Change Agents

[58:00] – Closing and How to Learn More About Coupa and Our Guests

Tamir Shafer

• LinkedIn: https://www.linkedin.com/in/tamir-shafer-0722434/
• Website: https://www.coupa.com/
• Coupa (LinkedIn): https://www.linkedin.com/company/coupa-software/

Rajiv Ramachandran

• LinkedIn:

In this episode of Corporate Treasury 101, we dive into how corporate treasurers can better manage their short-term investments and gain clearer visibility over their cash using money market funds and digital investment portals with Sebastian Ramos and Zachary Brown from Institutional Cash Distributors (ICD). With rising interest rates and tighter scrutiny around liquidity, treasury teams are looking for tools that make it easier to invest wisely and manage risk. This episode explores how these funds work, why they’re becoming more popular, and how technology can help treasurers make faster, smarter decisions.

Sebastian Ramos and Zachary Brown from ICD join us to explain it all. Sebastian, who leads global trading and product strategy, walks us through the basics of money market funds and how they’re structured, the benefits they offer, and how they compare to other investment options. Zach, who oversees product development, introduces ICD’s new Portfolio Analytics tool. It’s built to help treasurers pull data from different sources and see their exposure in real time, so they can act quickly when markets shift. Together, they break down how treasury teams can reduce risk and stay in control.

• How money market funds work and why they’re ideal for liquidity and diversification
• Why independent investment portals offer advantages over bank platforms
• How to simplify the complexity of short-term investing with daily digital execution
• What ICD’s new Portfolio Analytics tool does and how it supports better risk management
• How AI and machine learning are transforming treasury reporting and data integration

• [00:00] – Introduction and $100 AFP Certification Discount
• [01:12] – Meet Sebastian Ramos and Zachary Brown from ICD
• [02:41] – What Are Money Market Funds and How They Work
• [06:33] – MMFs vs. Bank Deposits: Credit, Liquidity, and Diversification
• [11:12] – MMFs in a Rising Rate Environment
• [18:12] – Regional Differences: U.S. vs Europe MMF Regulations
• [25:18] – How Treasurers Access and Trade MMFs
• [26:58] – Investment Portals Explained and ICD’s Independent Platform
• [39:53] – Launching ICD Portfolio Analytics: Problem, Solution, and Use Case
• [43:47] – Exposure Tracking, Counterparty Risk, and Predictive Scenarios
• [48:29] – Data Integrations, File Challenges, and Use of AI
• [59:36] – How Portfolio Analytics Connects with TMS and Bank Systems
• [01:04:26] – Final Thoughts: Why Treasury Needs Real-Time Data Tools

Sebastian Ramos

• LinkedIn: https://www.linkedin.com/in/sebastian-ramos-4299247/
• Website: https://icdportal.com/

Zachary Brown

• LinkedIn: https://www.linkedin.com/in/zachary-brown1984/
• Website: https://icdportal.com/

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In this episode of Corporate Treasury 101, we explore how treasury teams can improve their operations by focusing on practical steps in cash forecasting, in-house banking, and treasury reporting. Our guest, Alexander Fleischmann, Market Development Executive at Nomentia, shares examples from companies like Lufthansa, GLS Logistics, and Eaton Corporation to explain how treasury departments can solve real challenges using the right tools and strategies. From building cash visibility to managing internal bank structures, the episode highlights the importance of agility and structured planning in a changing financial landscape.

Alexander brings over 15 years of experience helping companies improve their treasury operations. He explains how to start small, make quick wins, and build scalable solutions over time. We discuss why forecasting remains a top priority, how historical data plays a key role in accurate planning, and what makes reporting more useful and accessible to teams. Whether you’re new to treasury systems or looking to optimize your existing setup, this episode offers practical advice and real examples from leading organizations.

• Why cash flow forecasting remains a top priority for treasurers and CFOs
• How Lufthansa rebuilt its forecasting system in just 6 working days during the pandemic
• Why starting small helps with treasury transformation
• What an in-house bank is and how it saves on intercompany payment costs
• How GLS Logistics started implementing in-house banking from the ground up
• How Eaton Corporation manages bank accounts and user permissions with clear dashboards
• What a data cube is and how it supports treasury reporting
• The importance of using the tools you already know, like Excel and Power BI
• Why having the right data matters more than new technology hype

[00:00] – Introduction and AFP partnership ($100 off CTP certification)

[01:35] – Meet Alexander Fleischmann and an overview of today’s discussion

[02:52] – Why liquidity and forecasting matter more than ever

[05:26] – Lufthansa case: how they changed their forecast model in six days

[09:19] – Importance of being flexible in difficult times

[11:10] – How Nomentia supports team development and talent retention

[15:37] – When and how forecasting tools can be used properly

[20:50] – In-house banks: what they are and how they reduce costs

[25:46] – GLS Logistics: building internal systems step by step

[30:17] – Benefits of using separate tools for different needs

[33:53] – How to plan and prioritize treasury transformation

[37:16] – What is Microsoft Azure, and why does Nomentia use it

[42:03] – Moving away from pie charts and improving reporting

[44:40] – Eaton Corporation: reporting and permission workflows

[49:56] – Using Excel and Power BI without being an expert

[53:16] – How to use reporting tools for forecasting and exposure tracking

[56:36] – Why some companies start with reporting and later move to full solutions

[58:54] – Final thoughts and advice from Alexander

[1:00:15] – Where to learn more about Nomentia

• LinkedIn:

In this episode of Corporate Treasury 101, we dive into the rapidly evolving world of corporate fraud and explore how businesses can protect themselves against increasingly sophisticated cyber threats. Our guest, Baptiste Collot, Co-Founder and CEO of Trustpair, shares actionable insights on how treasury and finance teams can move beyond traditional manual controls and adopt modern solutions to safeguard corporate payments. We explore the explosion of sophisticated fraud schemes, the dangers of deepfakes, and why companies must rethink their fraud prevention strategies to protect enterprise value. From understanding the new cyber era of fraud to implementing real-time vendor validation and efficient risk management practices, this episode is packed with critical advice for any treasury professional looking to stay ahead of modern fraud trends.

Baptiste Collot draws from extensive experience leading one of the world's top fraud prevention SaaS platforms to explain how companies can rebuild trust in their payment processes. He breaks down the key risks facing treasury today, how cybercrime has gone global, and why thorough information verification at every step of the procure-to-pay process is crucial. We also discuss real-world fraud examples, the rise of highly convincing phishing attacks, how to build a strong business case for fraud prevention tools, and why integrating these solutions into ERP and treasury systems is essential for future-proofing your organization.

• How AI and streamlined processes have supercharged fraud attacks in 2024
• Why fraudsters target vendors and exploit email chains, and how to stop them
• What deepfake fraud looks like in the corporate world
• How to create a multi-layered fraud prevention framework
• Real-world cases of fraud detection using Trustpair's technology
• Why internal training alone isn’t enough to fight cyber-enabled fraud
• How to make a strong business case for fraud prevention to your CFO and board

• [00:00] – Introduction & AFP Partnership ($100 Off CTP Certification)
• [01:40] – Meet Baptiste Collot and Introduction to Fraud Trends
• [03:13] – How AI Has Fueled the Explosion of Fraud
• [05:17] – Why Defense Mechanisms Are Still Lagging Behind
• [07:19] – The Globalization of Fraud: No Borders Anymore
• [10:20] – Regional Differences in Fraud Tactics
• [12:13] – Common Fraud Schemes Explained (Vendor Impersonation, Deepfakes, etc.)
• [16:54] – How Deepfakes Are Being Used to Commit Fraud
• [21:46] – How Trustpair Automates Vendor and Bank Account Validation
• [32:00] – ChatGPT and AI Tools: New Weapons for Fraudsters
• [36:09] – The Domino Effect: How Fraud Damages Beyond Money
• [48:16] – Building a Business Case for Fraud Prevention
• [51:40] – Real-World Examples: How Trustpair Helped Clients Prevent Fraud
• [56:33] – Final Thoughts & How to Connect with Baptiste

• LinkedIn: https://www.linkedin.com/in/bcollot/
• Website: https://www.linkedin.com/company/trustpair/

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