DBS Digital Transformation
Shortcuts to digital harmony
DBS Digital Transformation
Shortcuts to digital harmony
Harmony integral across treasury and commercial functions
Digital technology is key to engaging customers and differentiating the brand. But few today are achieving the results they were hoping for.
In an uncertain commercial landscape, almost all businesses are pursuing digital transformation to some extent, but just one in three describes their approach as effective.
All too often, their teams are out of sync, or even playing completely different tunes.
So, what determines the success or otherwise of digital transformation today?
DBS’s new research, which gathered the insight of 1,225 senior executives worldwide – and is one of the first studies to explore the finance/commercial dynamic at the heart of transformation – sought to find out.
By identifying a select group of transformation leaders, who are consistently outperforming the rest, we outline the priorities for successful, orchestrated change.
One notable characteristic of our leadership group is their willingness to give treasury and finance teams greater responsibility as they pursue their innovation goals. Their treasury and finance leaders are working in partnership with commercial to set the digital agenda and turn ambition into reality.
4 key principles of digital transformation
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| 1. Agree on a “north star” and accept failure along the way The transformation leaders in DBS’s research are typically fixed on a ‘north star’. This shared vision helps support a culture through which collaboration, experimentation, and rapid decision-making drive constant improvement through positive feedback loops. |
| 2. Harmonise the relationship between finance and commercial Transformation is more successful when your finance and commercial functions work in lockstep. Forward looking finance professionals no longer see themselves as passive observers of their businesses’ commercial performance, but as key players in enabling returns. |
 | 3. Give treasury a clear role in the finance/commercial partnership Treasurers make a specific and valuable contributions to digital transformation – and their importance is increasingly acknowledged thanks to greater visibility in recent years. By giving treasury a more influential role in transformation, you will drive better results. |
| 4. Build and borrow new skills and technologies within treasury While treasury has much to offer when it comes to digital transformation, it still has the potential to make an even greater contribution. By improving the skills base of your treasury teams, you will empower them to play a more forward-thinking and outward-looking role. |
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What’s the key to tomorrow’s treasury function?
Hear from Lim Soon Chong, Group Head of Global Transaction Services, DBS
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Can digital technology fix global supply chains?
Hear from Sriram Muthukrishnan, Group Head of Product Management, DBS
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Transformation takes harmony
In conversation with DBS Bank
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Harmony and change
The treasury and finance perspective on digital transformation
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The customer is king
The commercial perspective on digital transformation
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Transformation in sync
CTOs are breaking silos to inspire new customers
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East meets West
How Asian firms are taking a different approach to digital transformation
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Treasury innovation is driving the digital economy
Find out how
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