This is a YouTube video titled "Investigating 21st-Century Treasury with Winny Li" containing a detailed monologue by Winny Li from May 21, 2019. The content focuses on treasury department practices across different cultures and organizations, emphasizing the importance of flexibility, technology adoption, and automation in modern treasury management. It highlights Winny Li's experience in customizing treasury functions and integrating technology to improve efficiency.
You need to have a very much open mind for yourself. And then also you need to be more flexible with your way of approaching things. So for one, I can, you know, illustrate examples. For example, if we actually making client recommendations in majority country, you talk to the CEO CFO in a private meeting. You go through all your findings and going through that. And then for example, in Japan we will find. You will find a classroom full of staff. Every single member you interviewed together. The CEO, CFO, you put an effort entire classroom feeds 100 people. You going through the findings. So that's a completely different experience. And then you have to deal with it. You actually present the issue. As long as you've done your homework right, you can illustrate examples and show them why your recommendation is what they are and what sort the risk you're trying to dealing with. As long as you got solid evidence and where the reason is coming from. And also what you're trying to illustrate is something to help them as soon as they understand that. I think that's a common language for all cultures. Looking outside the ppd, the Treasury Department looks completely different for different organization. I've spoken to many, many treasurers. In fact some the companies might have 2, 300 employees in Treasury Department where others may have won and outsource absolutely everything. And most organization obviously between three to 15 employees. And then really and also how they design is very different. And they seem to have a slightly different focus. So that's the time I actually really triggered me thinking more. I think I need to take inside look what PPD finance organization already look like, what the people strengths and their weakness are. Then at the end we actually customized treasury departments for PPD itself. We look through what we are doing well, where we actually can be enhanced. What is the gap, how to fill the gap. So hence actually I would say the Treasury Department in PPD is somewhat different to others, but suits us perfectly. The one amazing thing we did, apart from merger, acquisition and expanding the company worldwide is actually the automation we've been bringing into the organization. I'm actually very much a fond of technology. Yes, there are risk and there are potential issues on any technology you might be deploying. But the automation, the way we actually the modern technology, the benefit is huge. For example, all the things we build in terms host to host payments and how the treasury management system working within the organization. We actually throughout the years I brought in many, many different automations into the organization. Personally, I was the one negotiating with the technology department get them to move those automation project in the higher priority list. The benefit is vast because we transformed from nine years ago where we actually how we enter payments to banks, how to get release to today majority the payment 80% are host to host all the controls you know build in the ERP system that gone through is actually personally, I do think treasury being effective the treasurer needs to understand technology. Use the technology to bring your organization into 21st century.
