Consequences of Failing Finance Digitisation with Fernando Pacheco from Mashreq

We are thrilled to share the latest episode of our podcast series, FinTalk, where we dive into the dynamic world of Finance Transformation. In this episode, our Co-Founder and CEO, Ivan Jesus, converses with Fernando Pacheco, the Global Head of Cash Management Product at Mashreq, to explore the complexities and necessities of digital finance transformation.

Key Highlights:

Importance of Real-Time Visibility and Liquidity

A significant theme in the podcast is the critical need for real-time visibility and liquidity. Fernand emphasizes that liquidity and cash flow management are vital for business survival, especially during financial crises. This focus is essential for both large enterprises and SMEs to navigate economic uncertainties effectively.

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Key Pillars of Digital Finance Transformation: People, Processes, Platforms

Fernando introduces the three fundamental pillars of digital finance transformation: People, Processes, and Platforms. He discusses how each element plays a crucial role in modernising finance functions and ensuring seamless integration across the organization.

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Challenges in Accounts Receivable and Treasury Management

One of the standout moments in the podcast is Fernand’s deep dive into the persistent challenges in accounts receivable and treasury management. He provides practical examples of how these issues impact overall business efficiency and offers strategies to overcome them.

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Governance and Risk Management in Transformation

Fernando highlights the importance of robust governance and risk management frameworks in any transformation project. He explains how proper governance structures can help identify and mitigate risks early in the process, ensuring smoother implementation and better outcomes.

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Future Trends: Open Data and AI

Looking to the future, Fernando shares his excitement about the potential of open data and AI in transforming finance functions. He discusses how these technologies can provide real-time insights and automation, significantly enhancing financial decision-making and operational efficiency.

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Practical Advice for SMEs on Treasury Management

Fernando offers valuable advice for SMEs embarking on their treasury management journey. He stresses the importance of starting small, leveraging scalable solutions, and integrating advanced tools to achieve greater efficiency and control over financial processes.

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Leadership's Role in Financial Transformation

A recurring theme in the podcast is the crucial role of leadership in driving successful financial transformations. Fernando emphasizes that leaders must take an active role in guiding their teams through these changes, fostering a culture of collaboration and continuous improvement. As the conversation wraps up, Fernando provides actionable advice for leaders looking to start their digital finance transformation journey. He encourages them to engage with industry experts, embrace continuous learning, and leverage both internal and external resources to navigate the complexities of transformation.

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Tune In Now!

Our discussion with Fernando offers deep insights into the world of digital finance transformation. By focusing on real-time visibility, addressing challenges head-on, and leveraging cutting-edge technologies, finance teams can evolve into strategic partners that drive business growth. We hope you enjoy this episode as much as we did. Stay tuned for more insightful discussions in our upcoming podcasts!

Listen to the podcast on Spotify and YouTube. Stay tuned for more exciting episodes as we continue to bring you the latest trends and expert opinions in the world of finance.