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

Related Articles

Video: Treasurers must be bold with digital transformation

Technology Video: Treasurers must be bold with digital transformation

3m Tom Lemmon
Corporate treasury journeys into new technology

Corporate Treasury Corporate treasury journeys into new technology

3m Bloomberg
Treasurers witnessing the coming together of man and machine

Cash Management Treasurers witnessing the coming together of man and machine

7m Jay Ashar

Whitepapers & Resources

Transaction Banking Survey 2019

Transaction Banking Survey 2019

5m
TIS Sanction Screening Survey Report

Payments TIS Sanction Screening Survey Report

8m
Enhancing your strategic position: Digitalization in Treasury

Payments Enhancing your strategic position: Digitalization in Treasury

9m
Netting: An Immersive Guide to Global Reconciliation

Netting: An Immersive Guide to Global Reconciliation

1y