During this session, Paul Erdmann, Dealing Manager, discusses the most important macro-economic developments of the past 12 months and what this means for internationally operating companies. Next, Michiel Nieuwenhuijse, Head of Sales, will discuss the cash conversion cycle and show the challenges and opportunities in practice. He discusses how companies can strengthen their position by dealing smartly with, for example, currency risks, international payments and collections, and alternative forms of financing.