TechnologyChange of ‘mindset’ needed for treasury transformation
Change of ‘mindset’ needed for treasury transformation
In this video, Christof Nelischer, Group Treasurer at International Personal Finance, talks to The Global Treasurer’s editor, Austin Clark about how treasurers need to think when starting their digital transformation journey.
Treasurers need to adopt a mindset which recognises digital transformation as an ongoing process, not a one-off investment according to Christof Nelischer, Group Treasurer at International Personal Finance.
Nelischer was speaking at the Treasury Leaders Summit where he added that this was crucial if treasurers were to add value to the business.
“I would recommend to any treasury leader to adopt a certain mindset that is, as a treasurer you are not doing a job, you are always on a journey towards operational excellence,” he said. “As a treasurer, you do not add value by processing transactions and maintaining what you have got, you add value by guiding the business on the road towards digital transformation.”
In addition, Nelischer said that the speed of innovation in treasury transformation has been so fast, the route to choosing the right transformation had become increasingly unclear as the sheer number of transformation options swelled. He added that it was crucial for firms to realise what was the right option for their specific needs.
“The pace of change has vastly accelerated so the road to operational excellence has become a little less clear and there are various options you can take. It is up to every organisation to assess the relative merits of the various avenues that one could choose.”
In the video, Nelischer and Clark also discuss:
The key areas of treasury that could be automated
How regulation and banking is driving the need to change
The importance of solving a problem rather than fitting a solution into an organisation