Michiel P. Ranke, Alexander Huiskes, Anthony Birts, Carlo de Meijer, Petra Plompen  

A Practical Guide to Managing Cash Flows, Liquidity, Working Capital and Short-term Financial Risks


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Modern cash management is no longer restricted to the management of business cash flows and account balances. Often, a cash manager works closely with the treasurer and ears responsibility for the management of short-term interest rate and foreign exchange risks as well as some of the company’s corporate finance operations and a number of core tasks. A cash manager plays an important supporting role in the company’s working capital management. Since the credit crunch, the environment has changed and the strategic aspects of a cash manager’s function have become much more important. However, the significance and relevance of their overall activities remains unchanged.

This fourth edition of the book again provides a fully updated overview of the position and duties of the modern cash manager in an international company. It deals with the most important instruments used in contemporary cash management. And of course, attention is paid to new techniques relevant for cash management, such as blockchain technology.  

It covers a cash manager’s regular duties, including the daily management of account balances and the conclusion of transactions in the financial markets. Examples are presented of several types of cash flow forecasts and an overview is given of all relevant financial products. Furthermore, extensive attention is devoted to the establishment of a proper cash management infrastructure for the company. This includes setting up an (international) account structure, cash pools (international or otherwise), payment and collection factories and a netting system. Finally, a description is provided of the cash man- ager’s role as a company adviser in relation to the management of its working capital. There is also new content concerning best practices in specific regions.

The book is intended primarily for current and future professionals in the corporate treasury and banking sectors who wish to gain practical knowledge of the subject. It is also suitable for students who need a broad general overview of cash management as part of their business economics and administration studies.


november 2018


This fourth edition is a revised version of previous editions and was authored by an editorial board of outstanding international treasury experts. Michiel P. Ranke, who held managerial positions at several cash management banks, is currently responsible for the liquidity services of ING Bank. After many years of banking experience, Alexander Huiskes contributes to this book from his role as executive cash management consultant at EY.  Anthony Birts has a lot of teaching and research experience in the foundations of cash management given his positions as a senior lecturer at the University of Bath and the VU postgraduate programme in Amsterdam, as well as his position as chief examiner of the ACT Cash Management Programme in London. Carlo R. W. de Meijer holds various positions within financial services, including those of senior economist and private investment adviser. Petra Plompen has been working in transaction banking many years and is currently senior manager at EBA CLEARING in Brussels. Gary Throup has gained substantial experience in all fields of corporate treasury and is now head of treasury at Philips Lightning.


1 The Treasury Organisation

2 Core Cash Management Responsibilities

3 Treasury Transformation

4 Working Capital Management

5 Supplier and Receivables Finance to support trade and working capital

6 Trade Finance

7 Cash-Flow Management

8 Transaction Types

9 Delivery Channels

10 Treasury Management Systems

11 The Payment, Clearing And Settlement Process

12 Cash Balances Management

13 Cash Pooling Techniques

14 Cash Flow Forecasting

15 Investment and Funding Management

16 Foreign Exchange Risk Management

17 Cross Currency Liquidity Management

18 Short-Term Interest Risk Management

19 Tax Consequences of Cash Management

20 Legal Considerations,

21 Treasury Accounting and Control

22 Regulatory Implications

23 Key developments

24 Cash Management structures – a roadmap for centralisation

Chapter 25 Case studies, Appendix - Overview of Clearing and Settlement Systems

Authors’ Profiles


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