There have always been ‘free’ offers e.g. buy three get the fourth free. With the COVID-19 crisis we are seeing all sorts of corporate treasury suppliers offering, so-called, free packages/services:
- BELLIN is offering the modules that cover cash management, forecasting/liquidity planning and recording and managing financial instruments, which are pivotal topics during the current COVID-19 global pandemic. Users will be able to have full visibility and control of cash and liquidity, see
- TreasuryXpress are offering a Treasury Technology Relief Program which will offer free subscriptions during this crisis to a new self-service treasury management tool they have developed, see
- Cashforce – crisis package. (More details later.)
The driving forces behind these offers are to:
- provide real support in the short term
- generate new business and new clients in the longer term.
But corporate treasury departments need to ask:
- how flexible is the new offer?
- can I customise it to my company’s/group’s specific needs?
- are there any support charges?
- what happens at the end of the ‘free’ period?
How IBM and Honeywell are helping
Multi-national corporations such as IBM and Honeywell work on a different scale and in a different way from these three companies.
IBM’s responses to COVID-19 is very different. It has the resources to share —supercomputing power, virus tracking and an AI assistant to answer citizens’ questions. IBM’s initiatives include:
- The COVID-19 High-Performance Computing Consortium which is bringing together the Federal government, industry, and academic leaders to provide access to the world’s most powerful high-performance computing resources in support of COVID-19 research. It delivers over 402 petaflops, 105,334 nodes, 3,539,044 CPU cores, 41,286 GPUs, and counting.
- Trusted information and business intelligence
- Business solutions to help the development of COVID-19 solutions.
Honeywell’s main initiative is to make N95 face mask - a respirator that protects the individual who’s wearing it with 95 per cent efficiency. An N95 mask is specifically built with materials that filter out particles in the air.
CTMfile take: The question with all ‘free’ offers is: What are the consequences of taking the offer?
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