Key role for treasurer when business models sprout
Under pressure from disruptive smaller firms, corporates take on new business models to stay relevant. Here’s how you help facilitate it without growing the hazards too.
A warehouse that adopts robotic process automation. A media house that surpasses traditional channels to stream content directly to consumers. The list of everyday industries that need to review the way they do business in the light of digitisation could be made long.
Open up
A Treasury Today article digs into the topic. It takes the perspective of the Asian market, but should be generally relevant.
The message is that treasurers have an important role to play when it comes to opening their groups for new business models – without simultaneously opening for financial threats to their companies’ value.
Avoid the strains
“When you add in issues like cybersecurity, data privacy and tax concerns, executing digital transformation can potentially create significant strains on revenue streams and internal governance controls,” says Kee Joo Wong, regional head of global liquidity and cash management with HSBC’s Asia Pacific region.