The Transaction Banking Paradox

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Navigating Tax Complexity: How to Master Cash Flow in a Shifting Global Landscape


If you ask any corporate treasury professional what keeps them up at night, chances are “tax uncertainty” will be high on the list. Over the past few years, global tax regimes have shifted rapidly, think OECD Pillar Two, new digital taxes, and evolving transfer pricing rules. For multinational companies, these changes don’t just create compliance headaches; they have a direct, sometimes dramatic, impact on cash flow, liquidity, and the timing of vital business decisions.


Chief Revenue Officer  | Melina Moussali

Chief Revenue Officer

Melina Moussali


Trusted by partners

trusted by partners
Melina MoussaliTax complexity isn’t going away. But with the right partner, you can turn it from a risk into a source of resilience and opportunity. If your team is ready to take control of cash flow, compliance, and strategy, no matter what the regulators throw your way , Fennech is here to help.

Melina Moussali

Chief Revenue Officer

"Tax complexity isn’t going away. But with the right partner, you can turn it from a risk into a source of resilience and opportunity. If your team is ready to take control of cash flow, compliance, and strategy, no matter what the regulators throw your way , Fennech is here to help."

Financial Automation: An Introduction

The world is undergoing a technological revolution, with the Fourth Industrial Revolution blurring the lines between the physical, digital, and biological spheres. The advent of AI and machine learning has led to a significant increase in financial automation. From robo-advisors to automated trading platforms, technology is reshaping the way we manage our money. But what exactly is financial automation, and how is it changing the landscape of personal finance?


The world is undergoing a technological revolution, with the Fourth Industrial Revolution blurring the lines between the physical, digital, and biological spheres. The advent of AI and machine learning has led to a significant increase in financial automation. From robo-advisors to automated trading platforms, technology is reshaping the way we manage our money. But what exactly is financial automation, and how is it changing the landscape of personal finance?
Virtual Bank Accounts: Why Businesses Should Own Them

Managing multiple physical bank accounts is cumbersome and costly, requiring daily reconciliation. V-accounts simplify this by creating virtual cash ledgers for corporate entities, offering a detailed view of transactions and liquidity. They allow for granular analysis of cash positions across different business units, legal entities or geographies and streamline financial operations with predefined rules that automate payment allocation, reducing both complexity and costs.


Managing multiple physical bank accounts is cumbersome and costly, requiring daily reconciliation. V-accounts simplify this by creating virtual cash ledgers for corporate entities, offering a detailed view of transactions and liquidity.  They allow for granular analysis of cash positions across different business units, legal entities or geographies and streamline financial operations with predefined rules that automate payment allocation, reducing both complexity and costs.

The Real-World Challenge: Tax Policy Isn’t Just a Headline, It’s a Daily Obstacle!


Let's take, for example, a European manufacturing group with subsidiaries in ten countries.

Last year, their treasury team faced a classic cash-flow crunch: a sudden change in local tax law meant a major VAT refund was delayed by months, tying up millions in working capital. Meanwhile, new withholding tax rules forced them to rework intercompany loan structures on the fly, all while keeping auditors satisfied and the CFO informed.

This isn’t an isolated story. Across industries, companies are grappling with:

Timing mismatches between when tax is due and when cash is available

Complex compliance requirements for transfer pricing, withholding, and local tax treaties

Operational friction from manual processes and limited real-time visibility

Strategic paralysis as teams wait for clarity on regulatory changes

So where do you go from there and how can you set up an operational framework that alleviates these challenges?

Fennech: A Treasury Ally for the Age of Tax Complexity

Fennech Financial steps into this environment not just as a technology provider, but as a partner that understands the real pressures treasury teams face. Here’s how Fennech is helping corporates regain control:

1.Real-Time, Global Cash and Tax Visibility:

With Fennech, treasury teams can finally see the full picture. The platform integrates directly with banks, ERPs, and even local tax authorities, creating a live dashboard of cash positions and tax liabilities across every entity and currency. For our manufacturing client, this meant spotting a looming tax payment in Brazil before it became a crisis—and reallocating funds in time to avoid costly borrowing.

2. Automation That Frees Up Human Talent:

Manual spreadsheets and email chains are a recipe for errors and missed deadlines. Fennech automates routine tasks like tax instalments, VAT submissions, and cross-border remittances. Built-in business rules flag anomalies, for example a payment that might trigger a higher withholding tax, so teams can act fast, with a full audit trail for compliance.

3. Smarter Intercompany and Transfer Pricing Management:

Transfer pricing isn’t just a compliance issue; it’s a cash-flow lever. Fennech’s platform makes it easy to manage intercompany flows, applying the right tax logic for each jurisdiction and tracking every transaction. Virtual accounts for each entity mean you get centralised control without the need for complex legal restructuring.

4. Scenario Planning for What’s Next:

What if the UK changes capital allowances again? How would a global minimum tax affect your liquidity in Asia? Fennech’s scenario tools let treasury teams model the impact of policy changes before they happen, supporting smarter, faster decision-making.

5. Compliance and Governance, Built In:

Audits are stressful enough without scrambling for paperwork. Fennech automatically generates the reports and documentation you need, with role-based controls and approval workflows that align with SOX and internal policies.

Why Fennech? The Human Difference

What sets Fennech apart isn’t just technology: it’s a deep understanding of the treasury function’s evolving role. By automating the mundane and surfacing actionable insights, Fennech helps treasury teams become strategic advisors, not just compliance gatekeepers.

For our manufacturing client, the result was tangible: fewer late payments, more working capital unlocked, and a treasury team that could finally focus on growth, not firefighting.

Conclusion: Ready for the Next Tax Challenge?

Tax complexity isn’t going away. But with the right partner, you can turn it from a risk into a source of resilience and opportunity. If your team is ready to take control of cash flow, compliance, and strategy, no matter what the regulators throw your way , Fennech is here to help.

Curious how Fennech could work for your business? Let’s start a conversation.

### Let's take, for example, a European manufacturing group with subsidiaries in ten countries. 

Last year, their treasury team faced a classic cash-flow crunch: a sudden change in local tax law meant a major VAT refund was delayed by months, tying up millions in working capital. 
Meanwhile, new withholding tax rules forced them to **rework intercompany loan structures** on the fly, all while keeping auditors satisfied and the CFO informed.

**This isn’t an isolated story.**  Across industries, companies are grappling with:

**Timing mismatches** between when tax is due and when cash is available

**Complex compliance requirements** for transfer pricing, withholding, and local tax treaties

**Operational friction** from manual processes and limited real-time visibility

**Strategic paralysis** as teams wait for clarity on regulatory changes

So where do you go from there and how can you set up an operational framework that alleviates these challenges?

## Fennech: A Treasury Ally for the Age of Tax Complexity

Fennech Financial steps into this environment **not just as a technology provider**, but as a partner that understands the real pressures treasury teams face. Here’s how Fennech is helping corporates regain control:

**1.Real-Time, Global Cash and Tax Visibility:**

With Fennech, treasury teams can finally **see the full picture**. The platform integrates directly with banks, ERPs, and even local tax authorities, creating a live dashboard of cash positions and tax liabilities across every entity and currency. For our manufacturing client, this meant spotting a looming tax payment in Brazil before it became a crisis—and reallocating funds in time to avoid costly borrowing.

**2. Automation That Frees Up Human Talent:**

Manual spreadsheets and email chains are a recipe for errors and missed deadlines. Fennech **automates routine tasks** like tax instalments, VAT submissions, and cross-border remittances. Built-in business rules flag anomalies, for example a payment that might trigger a higher withholding tax, so teams can act fast, with a full audit trail for compliance.

**3. Smarter Intercompany and Transfer Pricing Management:**

Transfer pricing isn’t just a compliance issue; it’s a cash-flow lever. Fennech’s platform makes it **easy to manage intercompany flows**, applying the right tax logic for each jurisdiction and tracking every transaction. Virtual accounts for each entity mean you get centralised control without the need for complex legal restructuring.

**4. Scenario Planning for What’s Next:**

What if the UK changes capital allowances again? How would a global minimum tax affect your liquidity in Asia? Fennech’s scenario tools let treasury teams **model the impact of policy changes** before they happen, supporting smarter, faster decision-making.

**5. Compliance and Governance, Built In:**

Audits are stressful enough without scrambling for paperwork. Fennech automatically **generates the reports and documentation** you need, with role-based controls and approval workflows that align with SOX and internal policies.

### **Why Fennech? The Human Difference**
What sets Fennech apart isn’t just technology: it’s a **deep understanding of the treasury function’s evolving role**. By automating the mundane and surfacing actionable insights, Fennech helps treasury teams become strategic advisors, not just compliance gatekeepers.

For our manufacturing client, the result was tangible: fewer late payments, more working capital unlocked, and a treasury team that could finally focus on growth, not firefighting.

**Conclusion: Ready for the Next Tax Challenge?**

**Tax complexity isn’t going away**. But with the right partner, you can turn it from a risk into a source of resilience and opportunity. 
If your team is ready to take control of cash flow, compliance, and strategy, **no matter what the regulators throw your way** , Fennech is here to help.

Curious how Fennech could work for your business? Let’s start a conversation.

SEE MORE ON CASHFLOW



Tax complexity isn’t going away. But with the right partner, you can turn it from a risk into a source of resilience and opportunity. If your team is ready to take control of cash flow, compliance, and strategy, no matter what the regulators throw your way , Fennech is here to help.

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Get your cashflow guide

Learn more about how API connectivity can streamline your finance operations with our free fact sheet

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What Others Say


★★★★★

Fennech’s F³ platform excels in flexibility, customisability, and scalability, crucial for transforming treasury and finance through hyper-automation. Their affordable services cater to medium-sized companies, emphasising the need for real-time data and robust, secure processes, a lesson underscored by the COVID crisis.


ATEL, Francois Masquelier Chairman and CEO
Fennech’s F³ platform excels in flexibility, customisability, and scalability, crucial for transforming treasury and finance through hyper-automation. Their affordable services cater to medium-sized companies, emphasising the need for real-time data and robust, secure processes, a lesson underscored by the COVID crisis.
★★★★★

By combining the wide capabilities of Fennech Next-Gen Banking technology with AccessPay market leading bank integration platform, we were able to quickly and with minimal development effort, create a seamless experience for the Fennech client to provide a completely new cash network for the French market.


AccessPay, Anish Kapoor CEO
By combining the wide capabilities of Fennech Next-Gen Banking technology with AccessPay market leading bank integration platform, we were able to quickly and with minimal development effort, create a seamless experience for the Fennech client to provide a completely new cash network for the French market.
★★★★★

Fennech delivered a complex e-commerce trading network on time and on budget. The modularity and strength of their platform allows us to quickly add functionalities to exactly meet specific client demands.


Brinks, Mark Favero CEO
Fennech delivered a complex e-commerce trading network on time and on budget. The modularity and strength of their platform allows us to quickly add functionalities to exactly meet specific client demands.

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Ready to Move Beyond Traditional Treasury Management?
Questions
What is the Fennech Financial Framework (F³), and how does it work?

F³ is a cloud-based platform that blends the best of core banking systems, enterprise resource planning and treasury management systems. It's robust, scalable and tailored for your unique IT environment, offering custom solutions to manage payments, cash, risk, and financing more quickly, cost-effectively, and efficiently.

What are Virtual Accounts?

Fennech Financial's Virtual Accounts are digital cash ledgers linked to a primary bank account, enabling businesses to create multiple sub-accounts without the need for additional physical bank accounts. This approach simplifies financial management by providing detailed insights into transactions and liquidity across various segments of an organization, such as departments, subsidiaries, or projects. By implementing Fennech's Virtual Accounts, businesses can streamline financial operations, reduce banking fees, and gain comprehensive insights into their cash flows, leading to more efficient and effective financial management. Want to know more? get in touch!

What is Fennech Financial and what services do you provide?

Fennech Financial is a Next-Gen Corporate Banking Platform as a Service. We deliver Hyper-automation of Finance, Treasury, and Payment solutions in real time on One Platform, The Fennech Financial Framework (F³). Our ultimate goal is to help you automate and optimise financial workflows to enhance efficiency, accuracy, and compliance in treasury and financial operations. You can use as many or as little of our solutions to suit perfectly your requirements. Find out more by exploring our solutions.

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