One of the biggest struggles we face as an industry is getting everyone in an organization to innovate in harmony. Competing priorities, budgets, perspectives and cultures can stymie attempts to drive meaningful change – and not everyone is ready to adapt, evolve or embrace new technology.
When we start a new engagement with a client, we try to bring together key stakeholders from throughout their financial institutions: from mobile, digital, ATM ops, strategy, logistics, branch management, etc., so we can hear everyone’s pain points and get a better understanding of the overall “current state” of the bank.
Recently, my colleagues and I performed a similar exercise: we conducted a roundtable on one of my passions, cash cycle management.
This is a topic that is vital to driving future success in our industry. Optimizing the cash cycle can cut major costs out of an FI’s bottom line, and simultaneously enhance the customer experience. There are many opportunities to drive change. During the lively discussion, we touched on hardware, software and service solutions, and shared our experiences talking with customers about their current and long-term challenges and priorities.
In the resulting guide, The Seven Deadly Sins of Cash Cycle Management, we’ve compiled the most common obstacles to an optimized cash cycle, along with expert insights from our cross-functional team. Is your organization guilty of harboring one (or more!) of these sins?
We encourage our customers to look at cash cycle management holistically – I hope that our combined insights and end-to-end approach inspire a renewed passion for driving cash cycle management optimization within your organization. My colleagues and I are ready for your questions. Let’s start a conversation.