Assistant Group Treasurer of Diageo, Prabha Viswanathan has called on treasurers to be “bold” when undertaking a digital transformation of the finance function.
Viswanathan was speaking at the Treasury Leaders Summit where he said dramatic changes were necessary if finance teams were to stay competitive in the future.
“You have to be incredibly bold with some of these changes,” he said. “You cannot take this lightly, you cannot tiptoe through this, you have to take a big, big bet.”
While Viswanathan acknowledged there were inevitably going to be risks involved in any transformation as finance teams were investing a lot of money and resources into their projects, he felt that there was no other option.
“We believe, this will define the company of the future,” Viswanathan said. “If you don’t do it, you are going to be left behind – business-wise, competitive-wise – because you will not be able to attract the talent.
“It has become a ‘must do’ rather than a ‘nice to have’, and so it has become a real part of our core strategy across the business,” he added.