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Receivables Finance in the Context of Working Capital Management by Igor Zax

Wednesday Sep 10, 2014

Igor Zax, Managing Director of Tenzor Ltd, published a new article, Receivables Finance in Context of Working Capital Management in TEF News (Trade and receivable Finance News, a major publication by BCR).

Editorial comment states “Igor Zax’s article in today’s trfnews, ‘Receivables Finance in the Context of Working Capital Management’, reminds us of the value of looking back at the history of modern supply chains and how working capital management, and hence factoring and supply chain finance, has developed from this. It also reflects on the potential frailty and dangers that over exposure to some supply chain structures can bring.

On late payments he says: “just a couple of weeks delay on 30 day terms increases working capital consumption by one-and-a-half times.” I wonder how many factors use such direct terms in their advertising material. If they do not, perhaps they should consider it, particularly as the trend is for larger companies to use receivables finance, and it is those companies in particular that tend respond well to the use of such analytic sound bites.”

Reprinted with permission.


Igor Zax to present at Annual Restructuringand Turnaround conference by IIR

Saturday Apr 19, 2014

Igor Zax, Managing Director of Tenzor ltd., is going to present at 4-th Annual Restructuring & Turnaround 2014 conference by IIR 2-nd of July 2014 in London. He will be joining a panel “Strategies for an Effective Turnaround” discussing:
• Formulating and executing a successful turnaround strategy
• Negotiating with lenders
• The importance of due diligence
• Financial restructuring tools
• Operational restructuring tools

Other speakers on the panel incude:
Gareth Davies, Managing Director,GREENHILL
Henry Jackson, Chief Executive, OPCAPITA
David Bryan, Founding Principal, BRYAN, MANSELL & TILLEY
and Mike Jervis, Partner, PwC


CORPORATE M&A: FROM DUE DILIGENCE TO INTEGRATION- masterclass by Igor Zax in Moscow

Saturday Apr 19, 2014

Igor Zax, Managing Director of Tenzor Ltd., is going to present a masterclass “Corporate M&A-From Due Diligence to Integration” dusring the conference on M&A by Regent Capital in Moscow, Russia, 24-25 June 2014.

The topics covered would include:

Why shall company consider M&A- “right” and
“wrong” reasons
• Operational due diligence – key to acquisition
success
• Synergies- reality and fictions
• Managing Post-merger Integration
– Financial aspects
– Supply Chains
– Processes
– Culture and HR management


Igor Zax to moderate a panel “Developing Value in an Invoice Financing Business”

Sunday Mar 16, 2014

Igor Zax, CFA, Managing Director of Tenzor ltd., is going to moderate a panel “Developing Value in an Invoice Financing Business: What Makes it Ripe for Investment?” at Receivables Finance 12th Annual Convention in Warsaw, Poland, 1-2 April 2014. He will be joined at the panel by Joanna Nader, Partner/CIO, JRJ Group (major financial services focused PE house) and Margrith Lutsch-Emmenegger President, Fimbank and Chairman, International Factors Group.
Igor Zax is alos going to present at a panel “Understanding the Supply Chain Finance Ecosystem” at the same conference togheter with heads of Supply Chain Finance from HSBC, ING and RBS.


Distribution FInance article by Igor Zax and James Berry in Supply Chain Finance yearbook

Tuesday Jan 28, 2014

Igor Zax, managing director of Tenzor Ltd, and James C. Berry, II, Executive Director, 5I Group LLC, published a new article, Distribution Finance – A time for change in World Supply Chain Finance Yearbook 2013/2014, a major publication by BCR/Factorscan.
The article addresses industry landscape and fundamentals, new products and approaches to make the industry more competitive and better serve client needs, and opportunities for new entrants (such as leasing companies and banks) in this market.


Igor Zax, MD of Tenzor Ltd. published new article on Credit Insurance

Thursday Mar 21, 2013

A new article, Credit Insurance Lessons From the Crisis by Igor Zax, managing director of Tenzor Ltd., published in Insurance Insight, leading insurance publication.

Reprinted with permission.


Operational Turnaround –Focus on Working Capital and Supply Chain

Tuesday May 15, 2012

Guest lecture Operational Turnaround –Focus on Working Capital and Supply Chain by Igor Zax CFA, founder of Tenzor Ltd as part of a course “Mergers, MBOs and Other Corporate Reorganisations” by professor Paolo Volpin at London Business School 23 March 2012.

The lecture covers principles of distressed investments, corporate turnaround and operational due diligence. It also focuses on supply chain and working capital implications, use of asset backed lending, vertical integration and business model re-design.

Slides for the presentation can be seen by clicking the link below:
Operational Turnaround –Focus on Working Capital and Supply Chain


Supply Chain Finance – a Strategic View-article by Igor Zax for Supply Chain Yearbook 2011/2012

Wednesday Feb 1, 2012

Igor Zax, managing director of Tenzor Ltd, published a new article, Supply Chain Finance – a Strategic View in Supply Chain Yearbook 2011/2012, a publication by BCR Publishing/Factorscan.

The article focuses on both buyer-centric and seller centric (such as distribution finance) models from risk, route to market, impact on the supply chain structure and systems/process points of view.


Special Situations and Distress-driven M&A- masterclass by Igor Zax in Moscow

Wednesday Feb 1, 2012

Igor Zax, founder of Tenzor Ltd, delivered a masterclass on “Special Situations and Distress-Driven M&A: What Does it Take to Conduct a Successful Accelerated M&A Process” 28 September 2011 in Moscow, as part of C5 conference on M&A in Russia and CIS.

The masterclass was attended by senior M&A professionals of major Russian and CIS banks and industrial groups.

For link to English version of the presentation please click the title above.


Igor Zax lectured at LBS on operational due diligence

Tuesday Jun 28, 2011

Igor Zax, CFA founder of Tenzor Ltd, presented a guest lecture Operational Due Diligence -Key to M&A Success as part of a course “Mergers, MBOs and Other Corporate Reorganisations” by professor Paolo Volpin at London Business School 11 June 2011.