2025/26 Chapters
From Fundamentals to Frontiers
Assembling the Building Blocks for Change
The Future of Payments
Verification of Payee
Virtual Accounts and the Race for Real-Time Liquidity
AI’s Treasury Moment
Assembling the Building Blocks for Change
EACT Survey 2025
Cash flow forecasting has returned to pole position in treasurers' priorities, signalling a renewed focus on visibility amidst economic uncertainty. The latest EACT survey reveals that whilst many have invested heavily in automation, the perceived value of the next digitisation phase remains unclear for numerous organisations.
This chapter dissects the survey findings across cash management, working capital optimisation, technology infrastructure, and talent challenges. Treasurers are confronting fragmented systems, budget constraints, and the persistent gap between ambition and execution. The analysis explores why process standardisation remains the biggest obstacle to centralisation, and how real-time capabilities are shifting from aspiration to operational necessity.
Read the complete analysis to benchmark your treasury function against European peers.
The Future of Payments
Navigating Complexity, Unlocking Opportunity
The payments landscape is undergoing its most significant transformation in decades. The EU Instant Payments Regulation introduces new obligations for PSPs, with implications rippling through corporate treasury operations. By October 2025, Eurozone banks must send and receive instant payments, fundamentally altering how treasurers manage intraday liquidity.
This roundtable discussion examines the convergence of instant payments, ISO 20022, Verification of Payee, and emerging digital currencies. Contributors from BNP Paribas, PwC, SAP, and EACT assess practical challenges including fraud prevention, master data quality, and the disconnect between 24/7 payment rails and traditional funding markets. The chapter also explores tokenisation, programmable payments, and e-invoicing as complementary forces reshaping treasury workflows.
Access the full discussion to prepare your treasury for the payments revolution.
Verification of Payee
A Necessary Step Forward in European Payments
Verification of Payee represents a structural rethink of beneficiary validation across European payments. This chapter examines VoP's promise and practical complications, particularly for corporates using virtual accounts and collection-on-behalf-of structures.
Industry perspectives from EACT, BNP Paribas, SAP, and GLEIF explore the tension between regulatory ambition and operational reality. The analysis covers name-matching limitations, the case for global identifiers such as LEIs, and lessons from Brazil's taxpayer ID approach. Contributors emphasise that whilst implementation hurdles are substantial, VoP remains essential for building trust in instant payment rails.
Discover the full implications for your payment operations and compliance framework.
Virtual Accounts and the Race for Real-Time Liquidity
Corporate treasurers are intensifying efforts to achieve instant cash visibility and control. Virtual accounts have evolved from niche reconciliation tools into mainstream treasury infrastructure, enabling simplified account structures, faster reconciliation, and granular liquidity insights.
This roundtable brings together experts from BNP Paribas, PwC, SAP, and EACT to examine how virtual accounts, APIs, and real-time data combine to transform liquidity management. The discussion addresses integration challenges, regional differences in digital adoption, and the orchestration required to connect banks, ERPs, and treasury platforms. Contributors also explore how AI-enhanced forecasting, virtual sweeps, and multi-currency capabilities are unlocking new use cases for working capital optimisation.
Read the complete chapter to understand virtual accounts' strategic role in treasury modernisation.
AI’s Treasury Moment
From Hype to Hands On
Artificial intelligence is transitioning from conference topic to practical treasury tool. This chapter examines real-world applications emerging across cash flow forecasting, intercompany lending, fraud detection, and working capital optimisation.
Contributors from BNP Paribas, PwC, SAP, and EACT discuss the data foundations required for AI success, the distinction between machine learning and generative AI, and why orchestration matters more than individual algorithms. The analysis covers intelligent workflow design, agent-based models, and the governance frameworks necessary to build trust in AI outputs. Crucially, the chapter addresses how smaller treasury teams can adopt AI incrementally without wholesale transformation.
Download the report for actionable insights on implementing AI in your treasury function.
Got a treasury problem? Ask JTT!
Be it cash management, payments, trade/supply chain finance or factoring, experts from the Journeys to Treasury partners (BNP Paribas, PwC, SAP and EACT) will answer your questions on video.
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