Leveraging Technology to Drive Career Success in Treasury

Webinar: Leveraging Technology to Drive Career Success in Treasury


Ernie Humphrey

Treasury Webinars


[0:02] Ernie Humphrey:

It’s a pleasure to be here. It’s a little bit of a journey. I’ve been trying to get here for three years now. So that’s another story. So welcome everyone to Radiance. So, we don’t have to be a huge crowd but we’re gonna make some noise everyone just make some noise. Well, that’s right, there we go. So, I think this is really important and I appreciate the fact that they’re letting me kick this off because I think it’s really important today as we go through the sessions that you think about the technology and how it’s going to impact your career and how you’re going to use it to make your job easier but also to help you collaborate. And so, the things that really are going to matter, as we redefine Treasury that we do every year, so here’s what I say, technology, collaboration, and innovation. And so we’ll go through a lot of content. So please stop me from going too quickly, you can have the slides. So thank you so much, everyone, for investing your time with me and more importantly, getting up so early in the morning.

[1:06] Ernie Humphrey:

Man, of course, this doesn’t work. All right. Good thing I do stand-up comedy, right? All right, so I think it’s really important we always talk about Treasury priorities right cash forecasting, whatever. Well, I’m stopping that, that stops with me. How do you achieve Treasury success? Right. First of all, you gotta define what that is, what is your career success. And how does that align with your company? What are your company’s strategic goals? How do your goals align with those? How do your actions impact the key drivers of the company’s success in more and more? What we’re seeing is that you’re going to have to connect that to customer impact deepening relationships customer satisfaction and you also have to take a more active role, especially if you’re a manager in impacting the productivity of your employees. What does that mean? How do I manage the dynamics of our team? So, I’ll give you kind of a two-dimensional thing. Let’s talk about your personal career success, but also how to drive the success of your team as well. Alright, so the first thing we have to define it right. Then we got to understand your skills. Right. You have to know these are the skills I need to be successful. Now, in the future, you have to take a look in the mirror. You know, you have to be honest with yourself. These are the skills I need do I have these skills or not. Oh, this is my skills gap. This is where I’m at. This is where I need to go. How am I going to get there? And so, if you’re a manager, I encourage you to have a diverse skill set. So someone might be the people person, so it might be the tech person, someone might have relationships across the company and have your folks cross-train each other. So get everyone up to a base level, but if you can start to get your folks to interact with each other and learn from each other. And, of course, hire people that are smarter than yourself, that’s easy for me.

[3:02] Ernie Humphrey:

Again anyone identifies and mitigates your skills gaps. And then this is kind of something that we really haven’t been good at Treasury. We need to assess our current relationships. So we need to network internally we need to have a professional brain, we need to assess our relationships within our department across the A/R and A/P but also with our service providers. So, I bet some of our bankers would say I wasn’t a good customer because that was me, but I’ve learned, right. So, you have to be a good customer, and you want to build and manage your professional brand. We’ll talk about that. You ever heard about that, how to build your professional brand network, that’s pretty neat, very much. Yes, it is. And then you can build your professional network not only within work but outside of work. And if any of you probably bombarded you with LinkedIn stuff, but it works for me. I’m in treasury dude. I have 16,000 followers. I’m pretty, pretty proud of that. What we’re seeing more technology so I’ve been talking a lot about AP automation, AR automation for the past three years. So, what I think we’ll see is AP and AR will go back up the Treasury. So if I was a treasurer, I would want a P&l to report to me, because I want to control that cash conversion cycle. So now what we’re seeing. I think AP is a little bit farther along. It’s been more like three or four or five years that I’ve been talking about it. So you get visibility into the processes into the relationships into the flows and now you start to see, oh my gosh, there’s a lot of stuff we’re doing wrong.

[4:35] Ernie Humphrey:

How much does it cost? How much does it cost me to process an invoice, if you never looked at that if you’re not an AP you will probably pass out how much you cost. And so there’s a lot of cost savings, but more importantly, there are productivity savings. How much time do your AP AR and Treasury staff waste? Every day on that value adds activities. So when you look at technology, You don’t want to fear it, you want to embrace it and say this is an opportunity to take part in my day back. If you’re a treasurer, wouldn’t you love to give your CFO part of his day back? He will love you.

So, what I’m trying to get folks to do is do more surveys. How much time do you spend doing non-value add activities? And let’s see, and we measure the ROI of technology, how much is that giving me back my day. And it’s not that you want to reduce headcount. You want to increase productivity. And then you want to again embrace technology and innovation, and then you have to be in Treasury we’re in a pretty good spot. You need to understand your company in the industry landscape. So, this is my little soapbox. Learning is not a chore, it’s a way of life. Dramatic processing. That’s good stuff. And so if we look at the pillars of the church we succeed as I see them. We have your technical skills, the industry landscape. So, this is my business activity. I know your industry know your business when I was in the Treasury. We had insurance and benefits and data so I had to interact with everyone. Now I wish I could do that again because I’m a lot less quickly than I used to be. So, I was one of those disruptive people. I still am. That’s why I wear an orange suit. So, then we got relationships, collaboration, and agility sure you’re starting to hear this business agility, all the time. what is important. How do you get this justice agility data, robust scenario analysis have time, right, if you’re sitting there spending all your time when I was a treasure I probably spent two hours a day doing my daily cash position.

[6:31] Ernie Humphrey:

Now you could push a button, and then I’m sitting there trying to figure out how much money do I have in Mexico, I don’t know, do I need to do a train, I don’t know, you know, took me two days so the visibility is the key to your career success. So the more visibility that you can get into what you’re doing, but also into what everybody else is doing in the company. That’s extremely valuable. So your skills assessment, I love this. So, you know, everyone likes their own things but this is from on the CGMA, I spoke at a CFO conference for them. And I think this is really good for the Office of the CFO so on the outside. You have ethics, integrity, and professionalism that goes for everything. Now, my professionalism, I don’t know that’s kind of sketchy sometimes but I do the best I can. So, those are kind of the basis, and then we have technical skills, business skills, leadership skills, people skills and then in the middle of your digital skills. So, that’s kind of the foundation in today’s world, I think, And so learning how to leverage your digital skills to increase your leadership skills build relationships, understand the business consume the information. And what do you want to do, communicate with impact? Right. That’s a good phrase, communicate with impact.

All right, here’s how, here’s how I’m gonna do I’m gonna tell you how to actually do stuff isn’t that a change from a presentation. What specific skills matter most for Treasury success that your company has. Think about it so hopefully by the time this session is over. I made you think that made you smile that made you take action. Take that so I want to five and hack and get to take an action I failed. So I want you to take action. Also, there’s a reason you got up at eight in the morning besides to see my orange suit. So, if you wanted to talk about something today. You want to know something today. And you don’t get that before you leave the room, that’s on you because I’ll stay here all day.

Ernie Humphrey:

So I want you to be sure that you get an ROI for getting up at eight in the morning and look and get an orange suit so I forgot to mention that. So you got your skills, how do you assess your skills, and then how do you train upright you’re like, Oh, well, we’re gonna, I need to get bone up on automation I don’t know what RPA is I don’t know what AI is and so, first of all, you can reach out to me I’m happy to help. But there’s so much free stuff on the internet like HighRadius awesome content, not leadership partners free webinars, and then you might have to go outside so if you’re not an AP person go to an AP webinar not necessarily mines like the AP association of air Association, or you want to really get into technical stuff go look at the CS stuff look at day I take a short course on digital currency so it’s free, so don’t feel like you’re, when I was in Treasury I felt like I was bound because I didn’t have access to information like when I wanted a research study it cost me $10,000 for any kind of bench-marking. So, these folks over here at QC they do awesome bench-marking, so they have a session later today, but then, the ability to benchmark is incredibly important when you’re looking at you’re defining your Treasury success so what are those metrics, how do we do apples to apples. And then also, how do we look at ourselves over time but more importantly, how do we compare against people in our industry that use the same ERP. And so we actually have the ability to do that.

So we’re going to take that look in there. And these are my personal opinions on skills that impact your professional value. So these are things that will help you succeed. Within Treasury beyond Treasury public speaking, wear an orange suit whatever you want to do with your life. Interpersonal skills relationship building. Now, this doesn’t come easy to some people. So you have to be authentic, so you don’t have to put on an orange suit. That’s not your personality, but I would encourage you to do so because it’s fun. Effective communication skills, emails, reports presentations like this. If you’ve never spoken at a conference, it’s fun, believe me, if you offer, they will accept you. So you know more than you think, you know, I’ve been leveraging my knowledge, I learned in probably five years for the last 20 years, and I’m still doing it I learned more but what I learned in Treasury in five years. I can still talk and you will know for hours and hours, and I love it. So learn how to leverage what you’re good at, right, and don’t think that you don’t add value to someone when you talk to someone if you reach out if you’re a treasury manager if you send something on LinkedIn address your manager. Nine times out of 10 they will love it, they’ll be like, I’m happy to help you. So don’t be afraid to ask finance blocking and tackling analytical problem solving, talking about tech-savvy.

Ernie Humphrey:

Too much talk, don’t take a class on leadership, please don’t spend $10,000 have a phone call with you for 15 minutes, we’ll get you good. It’s not that hard. Treat people the way you want to be treated. I can’t feel the best in them. Treat them the right way you want to be treated. It’s not that hard. Emotional intelligence. Don’t be a jerk. It’s not that hard. You gotta be innovative, entrepreneurial so you have to look for things and so when I was in marketing way back I was at a start-up. So, LinkedIn came out, I was back then, I didn’t know anything about marketing, not, not a thing. So our marketing guy. He wasn’t the greatest. No, sorry, wherever you are these days but, so I just kind of took that over and I learned LinkedIn, and I was able to get people in seats and live events, which is really hard, that Mike did I was the only one doing it, so I could get 30 CFOs to a seminar I can’t do it anymore, but I used to be able to so I took that and I took that length that I took that marketing I took email I took the marketing dollar for that company, our community grew from 500 to 30,000 people in two years.

We did 100 webinars. I left, speaking for charging five fingers for webinars for ours. And so I don’t know about marketing. It was just interesting. So, I was a treasury person. So, I know how to market the Treasury people. So if you guys ever want to think about a career shift, marketing, who knows how to engage Treasury better than you guys, I’m gonna you guys are gonna take my job but that’s so you got to think outside the box. Now, technology is your new best friend so you get a lot more of this later in the conference so I’ll keep it at a pretty high level. So you’ll hear a lot about automation and artificial intelligence and, and you’ll hear that some of the languages, what’s different. And we won’t do that because that’s too early for RPA and double learning whatever those are we don’t need that. So, really, when it’s about removing the daily burden of repetitive low-value tasks.

[13:21] Ernie Humphrey:

Think about how much time you spend every day. Think about how much time your colleague spends every day. Learn how to mitigate your time spent but also learn how you can help so if you’re not in AP or AR. I want to be more on my AP or AR webinars as they want you to go over to AP and say hey you guys, what are you doing with automation. I was on this webinar, this crazy guy was telling me all about the stuff we do in that. And then you got to bend on the person saying yes it’s pretty cool. Why don’t you Why don’t we, you know, I want to work with you on that. We can add value to AP and also the cash conversion cycle. Do you want to free up your employees? It frees us up to focus on business-building activities, and it just proves our efficiency. And so one of the things which are really cool about AI which you’ll hear a lot about later is it learns. So if you’re doing an invoice, say your company has a weird format, and every the first time that comes in, you have to make a change on it. Well, the next time the invoice comes in automatically corrects that there’s our efficiency. And so one of the. And so, what it does, it makes it easier for your suppliers to do business with you, it makes it easier for your customers to do business with you. So, it improves that flow it takes the friction, out of your business and that’s incredibly powerful.

[14:42] Ernie Humphrey:

A lot of these apps now have interactive chat features. So, if you’re doing like a forecast or a cash forecast you can send messages back and forth, you can drill down in this number, and you can say, hey john What’s this number 10, Jonathan a message you’ll go back in there. And so it’s really collaborative, and then hopefully it gives us the elusive one version of the truth. Right, so to speak, that’s possible. So just to get you thinking right. What are your relationships? How good are they internal within your department across your company? Are they good are they bad if they’re bad, why are they bad, right? Is it okay they’re bad? I don’t think so but you never know. So you gotta identify opportunities I think AP they are easy to see. FEMA. We have to stop having different gas forecasts from FEMA. That’s ridiculous. Right. So you’re sitting there in a meeting. FEMA is coming over here. Yeah, Can this number and you’re like we’re not worried that you get that thing. You have no visibility into the bank accounts or anything and you come up with that number on what you’re doing. And so we can actually help FEMA and FEMA is actually collaborating more Treasury the AFP as a FEMA track so I planning is valuable across the enterprise but Friday morning I’ll talk a little bit about forecasting and the problems inaccurate forecasting we’ll talk about budgeting and planning but that’s something that’s important to get on the same page. Right. There’s no reason for our company to be spending hours to get come up with two different numbers, and then having a fight about it now that’s politics but you can do it. So external. I’m just trying to get you to think, relationships, think about all the things.

[16:17] Ernie Humphrey:

What do you do? Well, what do you need to work on? Again, I’m serious when I was a treasury manager they call me Bulldog because I would jump on someone’s leg and chew on and I wouldn’t let go. Then I got that wasn’t good. So you need to look at your providers as partners. If they don’t want to be your partners, then move away to somebody else. You deserve better. So your suppliers, your customers, your peers and so the better relationships that you have internally within your department across your department outside, right? So, my bank partners are the one that got me speaking. AFP, and believe me I was not nice to them. And then I started working at AFP and here I am today. Just because someone chose to engage me, I was difficult. You can either engage difficult people, or you can dismiss them. I strongly encourage you to engage someone who needs it if you never know the value of getting somebody on board. That’s disruptive game-changing. So by the time I was doing for Columbia.

[17:21] Ernie Humphrey:

I was beta testing all their products. They were running customer service people through me for three months because I think it handled me they all got promoted. So you need to find the opportunities to take someone’s passion if they’re nitty-gritty and they want to get all over your figure out how to use it.

Okay John, what do you think about that, they are going to have some good ideas and let them have some accountability and know what you’re doing. Don’t criticize what you’re doing, bring them into what you’re doing, and help you, and then we’ll see what they have to say. Right. How to Build relationships learning how to impact AP and AR, maybe you become a data steward maybe you write the data policy, but you got to find your place and don’t feel like you’re stuck in Treasury. I am stuck in the Treasury manager. I want to be a treasure AFP. I let opportunities define my career. So don’t be afraid to let your opportunities define your career and direction to take the strength path. So, the more you’re on LinkedIn, the more you network, the more you talk to people at conferences, people will talk to you about things I met 100 by so you might want to hire you. and don’t say no. Just think about it. And then if someone gives you a promotion, think about what the cost is, how many times have you gotten a promotion and you’ve got like little money and you got 50,000 more things to do everybody I hope so. So think about that. What do you do, so don’t box yourself in. And then the more skills that you have, the more flexible, that you are. So, the more you’re out there and the more you build your professional brand internally, but also externally when you come to these conferences. It’s just going to be beneficial to you. You’ll start to get organic job requests, and you’ll be amazed once you put some effort into building your brand. You will see opportunities.

[19:39] Ernie Humphrey:

Alright leveraging technology and Treasury. So, I’m probably like five minutes left but I’m going to talk for like three hours. So, one of the things that we’re starting to see more of like when I was at AFP, effective bank relationship management was like the top thing we worked on leader bank Relationship Management Suite scorecard. And that just kind of went away. But now, the opportunity is coming, where it’s much easier to get visibility into the bank fees and, and there’s more. There’s more attention, the banks are being more transparent with their RERA model so you can understand the value that you add to them. So there is an opportunity to leverage them as partners. And so, you need visibility, of course, right into what you’re doing, what your balances are what you’re paying for. and some for many companies. To really understand your bank fees at least upfront, you’re going to need a consultant. I’m sorry. It’s just the way it is. I used to work at AFP and I worked on the service codes, and I don’t understand them at all that I own them for two years so it’s complicated so if you want to, there’s a couple of folks here at the conference and a really good, they don’t work for them, but I know them. So there’s a gentleman from strategic treasure Craig Jeffrey, he’s doing some good things and bank account analysis statements and so network and asked me. Are there people here that you know we’re looking at doing XYZ and Treasury or is there somebody who might be able to point me in the right direction? I don’t know everything I just act as I do, but if I don’t know something. I’ll let you know.

[21:01] Ernie Humphrey:

So you have a communication right we need to work on our communication.
Be a good customer. Proactively tell them what’s going on in your business if something’s going wrong. You have to tell them, let them know it’s coming. So what happened, no financial crisis when I was back at Treasury. We were cash-rich, my, my boss the treasurer didn’t want me with any banks were crawling all over each other all over Joe to get in our office. Well, what happened. Oops. Here comes 2008 I was gone. My boss calls me well. I’m really glad you went to lunch with those people, because a few of our banks just went in silence we couldn’t even tap into our revolving credit agreement. So, never, you know, if you think, don’t ever feel like you have the upper hand with your bank, it’ll come around on you. So, communication, collaboration, and then transparency, you got to set those expectations. So if you don’t have a yearly bank meeting, I would definitely suggest you do that or quarterly and even if it’s visual, you can do that. So, bank relationship management is done right just some of the ROI their bank fees, your productivity. You can mitigate your payments and counterparty risk. So, you can have access to the slides, and read off the slide.

[22:20] Ernie Humphrey:

So, automation and AI’s role on p2p. I do webinars on this you might not get a lot of this or you’ll get a lot of this on the AR side, but I have a lot of webinar recordings if you want to talk about that, but I’ve talked a little bit about supplier relationship management, it helps you manage contracts procurement expense management, it gives you the ability to control your payments. When I was in charge. We didn’t even measure our payment types, which checks, what’s wires what’s the credit card. And then I don’t think many people do it now, and I’m like, why didn’t we do that checks across the bazillion dollars. Why do you write checks, anyone who still writes Marjorie checks you guys, why am I doing that. Right. You can get the wrong reason I want to check this because I got the remittance detail from the lockbox right as the only reason I did it. Imagine that value proposition you’re here today. Hey automate your AR you reduce your lockbox fees, they got that for me, but it’s true. So just think about those things. And so this is just some of the areas of technology that can benefit you. Again, P2P did right, really three couple things. One, you reduce costs a lot in the process of invoice productivity. Right.

That’s the key. If you’ve never gotten the weeds of AP, how many departments, touch AP how many managers’ approval are there how many systems are there, it’s one. It’s one of the most complicated business processes, and it’s been ignored until probably the last three years. Same with T&E. It’s the same thing spent management and interest rate we should take more ownership of that P2P done right, talked about that.

MTC, you’ll get this all day long, just to touch on it. Everyone’s like, please don’t tell your cash application story, and I’m going to anyway. When I was in Treasury. We had a customer our biggest customer. We got a wire and it would take seven business days to apply the cash. And that was a good day. That was a good time so luckily those days have changed. And so there’s a lot of that someone I encourage you to go look at the AI presentation just look at how it works, it’s just cool. It really is. It’s really interesting, and then your credit management helps your credit score. The dispute management is really cool. And then the thing that’s really cool on the cash forecasting AR, is you can predict payment date, and it’s pretty darn close and so, in cash forecasting which I’ll talk about later this week. We really have the opportunity to have really good predictability in AP and AR and also those non-operational cash flows and nothing’s changing cash forecasting in 15 years let’s be honest, right, but has now. So, take, take, take advantage of that.

[24:59] Ernie Humphrey:

All right, we got we know those. All right. Professional brain talked about this already, so please ask me for the slides, get the slides. These things just make you think you know you’re like, Man, this is basic stuff. That’s what I do. I’m not that smart. I just make people think about things that can have a big impact on your value if you just take a minute to think about it. Know what, you know, right, appreciate what you don’t know. And find the person that can teach you to invest in knowing your colleagues I know it’s hard, we’re all busy, give someone food, they will come right, give them food, they will come. Let them get to know you. I mean I know it’s hard for some people, you have to be authentic. But if you let someone get to know you. So here’s a question that I, I see I say to people and it’s amazing now yeah someone. What’s the most annoying part of your job? Everyone likes to talk about that. Try it, at the conference just say I’m just curious. You know what it is, what’s the most annoying part of your job. You just think about that work and then they’ll tell you, then you can say, you know, it was just on this webinar, and they were talking about that I want you guys to think about that. That works. I’ve done it quite many times.

[26:11] Ernie Humphrey:

Communicate what you know, right? Communicate what you need to know. Don’t be afraid to tell your boss you don’t know something, if you do and your bosses don’t like it, you’re in the wrong job. Right. So, what you want to do as a boss is everyone needs to be aware of what their skill set is and what they need to do better at and what you are, they were all going to get to the same place. And once you do that, that honesty that people eat it up, I mean I’m talking to people that once I started doing that met people talk to me all the time. Hey, I want to learn more about XYZ. Don’t you ever tell someone you can’t afford it? Figure it out. It’s free, I guarantee I can find it for free. I challenge you to give me something that I can’t do on YouTube. I think I can do the surgery you are married. But seriously, I told my son, my son’s like I’m in college I’m taking this and I go, Okay, what are you trying to do? Give me 10 minutes, and then I had a job interview. But this was a long time ago and I said, you give me two weeks, any job in your company that will convince you, I’m an expert. Let’s try that they didn’t like that but that’s kind of arrogant but it’s true. I told my son book smarts. No. Google. Google is the book smarts.

[27:27] Ernie Humphrey:

So, what do you need to do, collaborate, write, communicate, wear orange shoes? All right, beyond the Treasury Department, the same thing, exact same slide just the same things. Top of Mind social events here we go. What’s your elevator pitch? Sorry, I wouldn’t do that to you, but I do a lot of mentoring for people so I go to produce. Go boilers, but so they have these interviews and I’m supposed to do a mock interview and I go I’m not doing an interview I want to know your elevator pitch. So it takes like five minutes I say so. When I call your references, what are the three things that they’re going to say about you? Then I take those things, and I help them write their elevator pitch. And that’s as easy as that. So for me, my dressing, my dancing, and my singing right. All those are good, but that’s just my elevator pitch. So, your elevator pitch can be entered well that you’re entertaining. Right, that’s your thing so I’m nice and outgoing and I scare people because I’m really energetic but that’s your thing to open the door, and when I tell people, You know if opportunity knocks on the door whenever I said, Make a door. Make your own door and kick it down. Right, networking events, professional events today man you guys are on the clock I’m gonna be watching you. I mean, what do you do, how many connectors did you make today? So I did post something on my LinkedIn about how to get the most ROI out of the conference. And so this is relevant to your career.

[28:58] Ernie Humphrey:

So, I love HighRadius, I love you to death. But if I’m a treasury person, it costs me a lot of money to be here, it costs me a lot of time to be here. So I need to make sure that I get ROI out of it, but that falls on you. Right. So what are you doing what connections did you make, did you sit with someone different person at every meal Did you go to sessions, did you identify people that you wanted to talk to Did you do that, or going into the office, that’s fine, but you have vacation days for that. So don’t do that. You probably don’t have a lot of opportunities to go to conferences. So, if you feel like you don’t get something out of that conference and learn how to do it. I’ve got a lot of tips that I’m happy to share with you.

It sounds stupid, plan your time blocks. This is my favorite. I just said it before when you go to a big lunch thing, sit at a big table where you know nobody every time. Don’t go and sit with the people that you know 20 years from the conferences and them in the attic. You can talk to them later on.

[29:55] Ernie Humphrey:

That I am joking. One of my colleagues from a high radius actually we’re at a conference and I go, here’s what I do. She’s so that I go watch this. There’s, there’s like, usually I do with beautiful women so I sit down I go watch just sit down right, the one chair, and I’ll just sit there, start talking, and they love it, and you meet people and so you gotta be able to leave your ego at the door. and you need to try, you know, what happens when people look at me funny, do I care. No. So, you get there I mean I get a lot of strange looks. Some of them from the charity but that’s okay she’s learning, she gets to know me better. So, be yourself, have fun. AFP is a very good resource for Treasury folks I work there. I compete with them a little bit but they do a lot of good work. So, regional associations, like the text bows coming up. That’s a good conference to go to.
Windy City summit, get involved, get involved with those they love. If you’re a practitioner, oh my god do we need you. Oh, I need to mention, there is a form going around for CTP credits. So I messed up.

[31:06] Ernie Humphrey:

So all the sessions in the Treasury tracker eligible for CTP credits. So every session in that area. Just go-ahead for each session, you have to sign your name and email will consolidate all the sessions you attended, and then we will get you a CTP certificate for your session and that will be your backup for your dreaded AFP CTP audit, which I could help you get out of the VR to get audited by the way. All right, LinkedIn, lose, lose on LinkedIn us more than the last more than 500 connections on LinkedIn. Nice. Great. Do you need to invest in that so that’s great you’re doing that? Get your followers, you probably don’t have time to post as much as I do. But, again, who am I, I got 16,000 followers, I got more than my Alumni Association, they have 650,000 members, and I tell them about it every day. So I got some LinkedIn tips they’re happy to talk about LinkedIn with you all day long. So, I got a lot of slides on collaboration. I think I’m running out of time here because I’m glad I gave up my time for line dancing. So I’ll dance with y’all later but I won’t mind dancing.

[32:09] Ernie Humphrey:

So, I give you some specific tips, what to do at work beyond Treasury, how to collaborate with AP AR marketing specific things to ask specific things to do. Know what you know, teach them the language of charging and finance be receptive to learning their language, right, get on that same page. And then we need to understand how we can impact those are our internal customers. If you don’t really, this sounds cheesy but you should look at people as your internal customers and survey them. How are we doing with you what can we do better, right be open to that conversation ask AP, What can I do better, what can we do better, right now so on the way you’re going to get better. Guess what, you’re going to build good relationships. All right, that work beyond Treasury bank partners customers.

[32:59] Ernie Humphrey:

So one of the things I want to stress is you, treasury folks, we need to take control of the relationship with our suppliers had visibility into the tenor of communications, the frequency of communications. We don’t want to argue with our suppliers, we don’t want to argue with our customers if they are arguing with our customers’ timeout for everybody that argues with my customer sends a nasty email to my customer. No no no, we don’t need to do that. And that’s what you’ll see a lot of the sessions on the AR, you’ll see there’s a way to communicate. There’s a science to communication. And so we have to take control of those, that’s what matters right. Our suppliers, that our customers and our people are not that is I like to say it but it’s not that hard. And I’m glad that people are starting to talk about that a lot more.

[33:46] Ernie Humphrey:

Alright closing thoughts you like to thank God. All right, here we go. Treasury success. Technology relationships. Orange suit. Technology will negatively impact your career. You need to invest in managing your professional brain within work outside or just don’t pay for a $20,000 course on how to network, please. I’ll teach you, again, 10 minutes, and you need to optimize your collaboration skills. So, one more note.

This is the best in-person event experience you will have guaranteed. HighRadius is my key sponsor we’re doing a full-blown virtual forum for the Treasury. So think of that as a conference but virtual CTP credits, better collaboration. Control your interaction with your vendors. So I encourage you to take a look at that. And I want to have a few more sessions, coming up. So later on today I’m on a panel with the future of digital strategy, it’s in this room. Yay. And then the other one Friday it’s in this room yeah we might just all camp out in here. So, Again I sincerely appreciate your time if you didn’t get what you wanted out of this session, please ask me to enjoy the rest of your time here, I really appreciate it. Everyone, thank you so much.

[0:02] Ernie Humphrey: It’s a pleasure to be here. It’s a little bit of a journey. I’ve been trying to get here for three years now. So that’s another story. So welcome everyone to Radiance. So, we don’t have to be a huge crowd but we’re gonna make some noise everyone just make some noise. Well, that’s right, there we go. So, I think this is really important and I appreciate the fact that they’re letting me kick this off because I think it’s really important today as we go through the sessions that you think about the technology and how it’s going to impact your career and how you’re going to use it to make your job easier but also to help you collaborate. And so, the things that really are going to matter, as we redefine Treasury that we do every year, so here’s what I say, technology, collaboration, and innovation. And so we’ll go through a lot of content. So please stop me from going too quickly, you can have the slides. So thank you so much, everyone, for investing your time with me and more importantly, getting up so early in the morning. [1:06] Ernie Humphrey:…

What you'll learn

  • Leverage technology and build the right relationships to deliver forecasts
  • Manage financial risks while delivering business analysis that impacts performance

There's no time like the present

Get a Demo of Integrated Receivables Platform for Your Business

Learn More
Request a demo

HighRadius Integrated Receivables Software Platform is the world's only end-to-end accounts receivable software platform to lower DSO and bad-debt, automate cash posting, speed-up collections, and dispute resolution, and improve team productivity. It leverages RivanaTM Artificial Intelligence for Accounts Receivable to convert receivables faster and more effectively by using machine learning for accurate decision making across both credit and receivable processes and also enables suppliers to digitally connect with buyers via the radiusOneTM network, closing the loop from the supplier accounts receivable process to the buyer accounts payable process. Integrated Receivables have been divided into 6 distinct applications: Credit Software, EIPP Software, Cash Application Software, Deductions Software, Collections Software, and ERP Payment Gateway - covering the entire gamut of credit-to-cash.