Jesper Nielsen-Terp argues that treasury teams need technical experts in the room when choosing systems, not just salespeople. He emphasizes bringing in external consultants and building collaboration within credit risk and treasury to make better decisions.
Make sure that you bring in the techie guys from the company and not only the sales guys because maybe it's not fair to say, but of course the sales guys is there to sell a system, but it's not always that you get the systems you, you actually need. So make sure that you bring in the tech guys and make them show how the system actually work. Make sure that you have made some tests, give them some test examp and tell them this is how I want to see it. Show me it. I think that was one of the failures I have made in the past. Have too much believe or confidence in the sales guys. I would say bring in. So as we talked about earlier in this podcast, bring in people with expertise. Make sure that you have money in your budget for some external consultants that can assist you. They have seen a lot of systems. Just because you have seen a number of systems then you have, then they have seen tenfolded of them. Yeah. And they know exactly what works for your company and what does not work. And they can also ask all the right questions to the sales guys and to the techies from the company because they have been in the process before. They know what questions need to ask. I would say that is at least as important as getting the system. Make sure that it's the right system. Use the experience you have in your surroundings because just because you have done treasury work or credit risk work for a number of years, there will be people that have some experience you can leverage on. So use that. And that is also what we did. I had a lot of good conversation with both the treasury and the credit side in Ecuinor on how to do things. And it also turned out that some of the things we did in Dansky Commodities was better compared to what they did in Ekinor. So they actually wanted to implement some of the workflows we had and vice versa. We also looked into what did they do better in Equinor treasury or credit risk compared to what we did in Dansky Commodities. And then of course we won to implement those workflows. So it was to make sure getting the best of everything instead of just keep on doing what you thought was the best. I believe that if people would like to walk in my footsteps and try to do something similar, one of the things I could have needed back in the days was maybe some more advice and maybe also look, if I look on myself, I maybe not have been too good asking questions or asking for advice. I most likely was something I did not understand then I most likely went home did some study to figure out, okay, how does things work? But it also takes time because there's people in the company that actually know what is happening. So ask them instead. And also, people actually would like to talk, and people would like to talk about their area. So don't be afraid of asking questions. As I also have said, at least in my world, there's no dumb questions.
