Session Information:

Transforming the Business of the Future

In short 2020 was not all bad, it catapulted industries into the largest transformation of their business in a matter of days/weeks that would have taken some companies years if at all.  This will go down in history as the evolution of digitalization, not that it wasn’t around before 2020 but was not being utilized due to COVID19 we saw technology accelerate at rapid pace. Businesses will discover better ways to use technology and continually push to evolve further.

Working from home is now the new norm and people don’t want to go back to 9-5 and long commutes.  We must adapt to the HYBRID WORKPLACE.

People First, invest in upskilling and re-skilling your workforce, encourage a growth mindset. Failure is only a learning experience without failure we cannot grow.

Embrace CHANGE its not to be feared it is a good thing without change we stay stagnant, stale, boring…  ‘CHANGE IS HARD AT FIRST, MESSY IN THE MIDDLE AND GORGEOUS AT THE END’

It’s time to put Data at the center of your business and use this to drive Business Strategy and Performance.  Data analytics provides various advantages such as identifying new opportunities, understanding customer behavior, becoming more agile and outperform the competition.

Session Transcript:

Really, has over 20 years of experience in credit management.

Beverly, thank you. Great to see. She has over 20 years of experience in credit management, providing business expertise to assist business change, and develop creates creative solutions for business growth.

Beverly has led the best practice, credit control processes with significant change management and process re-engineering requirements, and has delivered improved financial and business outcomes with large organizations across the labor hire industry. Beverly was awarded Credit Manager of the Year in 20 18, through AIC M, which is the Australian Institute of Credit Management. And her experiences spans two continents.

Beverly now resides in Australia and as part of the CFO Leadership Team and and the Adecco Group Australia team. Beverly, thank you so much for taking the time in the middle of your evening there in Australia to share your expertise of our global audience. On behalf over of over 2000 participants, we want to say sincere thanks for that, and we very much look forward to your presentation.

Thanks, Joyce, I really appreciate that.

Um, can you see a presentation, because the the Icahn didn't want to give me right?

Yes, Presentation is coming through, and it looks great, Beverly.

Well, thank you. Really appreciate that.

Aye Well, good afternoon, all teed me. First, just like to thankyou.

for asking me to be a speaker at this conference, I feel very honored, and Ronald Penn forward to sharing the Adecco group success stories in this time with change.

2005, she was probably one of the most difficult yes, that many of us have had to face, both personally and professionally.

The tickets, they are in many, but what we also need to take can appreciate is that it triggered an acceleration in digital transformation oh, precedented scale.

These were forced to have their entire width pulses working from home or close their doors, Many worried about survival and how it will work, which is some of the questions.

I work for a global labor hire business based here in Australia.

And our main concerns were how could we have our entire payroll team working from home due process, thousands of timesheets each week and subsequently pay between 4 and 4.5 thousand associates.

How could our accounts receivable change process all the receipts received in swap? A Collette outstanding invoices?

We'll show that all cashflow continued, was constant and healthy.

We receive approximately $50 million per month, which needs to be allocated against outstanding invoices.

We show our customer accounts up to date, This then enables the collection process to continue and gives clarity to the business or the status of its customers.

Again, how will our finance team be able to collate all the information required to ensure that our Center lines on that?

Not only did we manage to do each of the above, we also managed to have one of our best years.

We managed to reduce sales outstanding by six days out, reduce our outstanding debt to below 5%, which we measure one day, passed, a great contractual terms.

So even though we were not face-to-face and everybody works remotely, and we even have people rope relocates sites, our performance was little impacted.

This shows that in this new world, forest is not based on the number of hours you went.

Or if you show a pair of eyes, it's on the clarity of your work, needs to be done, and the outcome expected.

We worked very hard to ensure our financial independence.

We never used any facility, and we manage to increase our financial position.

So I think the key message is, Hey, yeah, that's If your teams are aligned and have clear guidelines and expectations, they will be unstoppable Abdomen beads.

2020 was not all doom and gloom.

We all grew in ways that nobody could have imagined, and we need to continue.

Evolution has to be good, and we need to ensure that we continue to push to the next level and accelerate further.

Are the days where we need to be office based on what nights to buy?

We can now do it anywhere, anytime.

Video conferencing will continue to have a permanent presence in almost all me tools, which saves all travel expenses.

We will really need to continue to have large office spaces or offset service just paints all those companies downsize. Again, saving potential dollars on laces.

We will continue to transform the way we work a non workplace of the future.

This is not an option. It is a necessity.

How quickly did people adapt to virtual meetings using Microsoft Teams?

Lu?

got to name a few.

The need for humans to stay connected, made virtual connectivity easy.

Yeah. We used many ways to ensure that our teams, and everybody worked together, and we stayed connected.

We have virtual coffee meetings, we even had drinks, parties, what we call gentle lights, which was basically the ... talent.

Anybody who was saying dance, play an instrument together and put a live shows the entire workforce.

We had, with lights, we even have cooking lessons.

Well, paid one person would be in charge. They would send out lists of all the ingredients people needed to buy.

And then we'll talk through step by step to create the perfect dish.

This was fun, but it also enhanced people's communication skills and the way that we moved forward.

You name it. People did it.

We all thrived.

We can't do anything.

When we put our minds to it.

We all adapt, learn new skills, new ways of communicating.

There's always more to learn, however, it does need severe balance as we lose connection with people.

We, as humans, need instruction, well, both our mental health, so, all learn virtual connectivity will play a part in the future.

It will not be as it was in 20 20.

Before I move on to change and transformation, I would like to share that video with you, Which highlights the impact that change has, Both of us as individuals, what we need to do to embrace the.

I will ask Joe to play this video for me.

Very well. I'm working on it right now.

Back to you, Beverly.

OK, I hope you all enjoyed that video.

It has you considering how you need to embrace change without excuses.

CHR wait for approval.

It's very easy to think that just by adding new technology, it will solve all your pain points.

Without going back to basics and re-evaluating your covered services, you will just stand up with this thing delivered in a shiny new toy.

Have you evaluated your current processes, functions, divisions, and departments?

Well, what could the future look like for you?

Currently, we are looking at transforming the way we work by implementing new strategies, which will be a combination of new systems and redefined processes.

We are currently mapping out our current processes, prestigious policies and practices.

We're identifying our bottlenecks and pain points.

We will review these processes to see what can be improved either by new technology, all performed by RPA, or even just improving the actual process.

We're using a mixture of both technology and a combination of technology and skills.

It will help to ensure your best practices.

We are focusing on customer experience.

Both are internal and external.

We need to understand our customer's pain point, and they pay both different, your internal and external.

The voice of your customers is your only credibility.

We need to make it easy for our customers to, what were those?

Designing and implementing, integrated and disciplined end to end processes.

The words of putting in place where we count full digitalization.

Of operating models and keep things simple.

Simplify, simplify, simplify the waste has that touch least errors occur.

Change, change the type roach involvement.

I don't growth mindset, gather, collective spirits.

Change can be very, very daunting for some, especially if they've had 10 to 20 years of doing things the current way and if you don't allow a pro actively support adaptation it will result in rejection and avoidance.

To ensure change is accepted, fluidly, you must promote the possibilities and involve your employees in the transformation project as much as possible as that inputs are vital to get them to come on this journey with you.

With every aspect to challenge, or improvement, ask, What will we get absoluteness?

Will it help simplify the work?

A, Will people welcome it?

You need to ensure that we enable cross departments departmental collaboration.

Business transformation impacts many departments and we need to ensure they co-operate and communicate with ease.

Lead, engage, and enable your wet forces in new ways with inspirational leadership.

Emphasize only employee skilled developments.

Some tasks will be taken away from your employees, and we'll leave some time to enable them to upskill every skill to all the areas and needs of your business.

We need to encourage employees to create their own career ladder.

There is no while. Going back to what used to pass is normal.

Why can't together?

People first, right? An ecosystem of digital talent.

When people can see that there is still a place for them on your business, and that you are willing to invest in them, they will be more eager and willing to change.

Here in Australia, specifically, the attacker group, we have got begun to work together as a collective spirit.

I embrace stronger collaboration between upgrade rounds.

Here, we have a duck who Australia, Lotus Spring Professionals, lehi Terrorism, and General Assembly.

We need to ensure that we encourage evolving mindsets, I curiosity, agility, empowerment, collaboration, an event, which will if NSF solutions, we need to acknowledge and embrace imperfections.

People, land, bring mistakes.

We should not face failure.

Rather, embrace failure or replace that word with learning.

If the Wright brothers had given up on their first attempts of flights, why would we be today?

We need severe challenges as opportunities.

I go back to 20 20.

Many companies would have said, It was impossible to have entire way, most days working from home.

It happened, and we survived.

We need to ensure that we cultivate a sense of purpose and keep the big picture in mind.

Are all like, states, growth, mindset?

It's pretty much exactly what it sounds like.

Tendency to belief that you cannot grow it. Handbook Mindset the new psychology of success.

She explains that while a fixed mindset she is our character intelligence Uncreative ability, I've got to give them which we call obtains in any meaningful way.

Growth mindset, thrives on childhoods, and sees failure not as evidence of wandering villages.

It is the hottest springboard for growth for stretching our existing abilities.

If we take look at young children, there is no fear.

If, at first, they don't succeed, they try and try again.

Picture that small child.

taking its first steps 1 or two they wobble all over. They get back up again.

Next time, maybe 3 or 4, financially they can walk and run. They never give up.

We need to get back to our own inner chiles. We need to embrace and explore.

Empowering people is critical to building a high performance team.

Data analytics, yeah, we are currently offering our staff, bring in data analytics and data science.

If your company is not already using Delta Analytic and we're still seeing will be, we are very lucky to have General Assembly as part of our ecosystem.

They are a company that specializes in tech data, design, business MO Nyanza programs in web development, not just science and analysis.

User experience design, digital marketing to name a few.

Well, currently here in Australia, there is a shortage of data analysts.

So they have combined forces with some major companies to offer that start up skilling and re skilling in these areas.

As we have the journey that we are going on, we want to embrace our staff and keep them and grow, and we are also offering all our stuff, nice.

The law says to enable them to move and help the business with our transformation.

I know you're aware, there are different types of data analytics, which has different implications across different departments.

We have the descriptive analytics, which just help you analyze what has happened in the past, which can help businesses understand how it's performing.

The Diagnostic Analytic, How do you define why it happens?

This gives us deep analysis to answer the questions, often referred to as root cause analysis.

The root cause analysis can help companies understand where, why probables occurred, which then gives them the tools or knowledge on how to prevent this happening in the future.

Predictive analytics, exactly what it says predicts what is most likely to happen in the future.

It reviews your historical data to consider trends and patterns.

This is then applied against current assets, help predict what will happen.

Going a step further, you prescriptive, this uses your predictive data, helps suggest various courses of actions and outlines potentials for each implication.

We will all remember data being used and still used to predict the increase in the ...

infections, especially here in Victoria.

We were told if certain restrictions were not imposed and figures would rise by X, I certainly don't.

If these restrictions were in place, then we could get hold of the disease and decrease fick's finance.

People were not happy with the restrictions that were put in place, but whether we like it or not, by using this Dart analysis, we did get the desired outcome.

Sir.

What could the future of financial analytics look like?

Many organizations have focused on improving their analytical processes.

Some are still missing voluble sources of insights.

While many, put much focus, on record to report, processes, produce the financial results on budgeting, planning, O forecasting.

Data from procure to pay in order to see cash is not always being used.

If we leverage the Phase two processes, it could provide valuable information regarding customer behavior, supplier performance, which could reveal key opportunities, or risks to your business.

By including data from these processes, it will help give a complete picture of your business.

Aligning with the financial data provides right time views into trials and signals that inform decision making that can impact future results.

If we just focus on order to cache, we analyze your data is focus on customers that piled high along really low maintenance.

What are the correlations between these two estimates?

All, they could be, although you're all in a particular industry, Other states Are the APS based. Also offshore.

Does it require POs? just be so?

by analyzing misinformation or finding correlations between your customers that aren't with ease to work and give you a brief time on the line maintenance, we can pass this information on to our sales team. Obviously, we want to grow our business with those customers.

We can also use this to analyze all the companies. You have similar correlations and give this to the sales team.

Do get them to pursue business with them because we all want to deal with. Customers are easily pay on time.

Again, we all know if you are problem quite slow.

What do we know what the similarities are with them?

Are we able to analyze our cost to serve?

To be business leaders, make optimal decisions, We need factual data to enable us to improve operations, which you saw costs, lifetime an increase, profits, and productivity.

In summary, change, it's inevitable.

We need to continue to channel at speed.

We need to empower our people and encourage a growth mindset and a collective spirit.

In short, 2020 was not all bad.

It catapulted into Strays into the largest transformation In a matter of days and weeks which would have taken some companies years, it's federal.

it will go down in history that's the evolution of digitalization.

Not that it wasn't around before 2020, but it was not being utilized.

Due to Kopeck 19, we saw technology accelerate at a rapid pace.

Businesses will continue to discover better ways to use technology and continually push to evolve further.

Working from home is the new norm.

But people do not want to go back to the long commutes and mines to buy.

We have to adapt to the fibrin workplace, whatever that means for you and your company, two days, three days, at home, working from the office.

We, as people, still need to connect, or we need to have human interaction.

Melba, painful, fast.

Invest in upskilling or re scaling your current workforce.

Encourage that growth mindset.

Failure is only a learning experience, and without failure, we cannot grow.

Embrace change.

It's not to Be feared. It is a good thing.

We don't change.

We stay stagnant, style, boring.

Quite that really resonated with me is change is hard, erste messy and the middle and gorgeous at the end.

It is time to ensure data is at the center of your business, and you use it to drive business strategy and performance.

Data analytics provides various advantages, so it's just identifying new opportunities, understanding client behavior, which will help you to become more agile and outperform your competitors.

Enki, and this afternoon, I've enjoyed sharing our insights and success stories, many of which I'll show, will resonate with you.

Again, I would like to preface UK for this opportunity.

This is actually the first time I've ever spoken about like this, and it pushed me my old, comfortable zone, which is scary.

But without taking those steps, I'm pushing three.

We do not grow alone.

Say thank you again, for my learning today.

Thank you, Beth. Thank you for your insights. Thank you for your presentation. I'm going to come back on with you and now. And for the audience, if you have questions we have, we still have like seven minutes that we can ask questions verbally. And the please do submit them, I can see them on. the monitor is here in the studio of your feedback that's come in. And one of the themes that emerge Bev, which was about the empowerment of of people in the organization that you talk throughout your presentation. And the question is, that was a little bit about the mechanisms. And the systems that the Adecco Group is using to empower people. Because, you know, the concept is great, but often organizations and leaders have difficulties translating those principles into action finding, effective mechanisms, for empowerment. And I'm curious about what are some of the things that you have done that seemed to have worked well for you?

So, we have, obviously, set flex, expectations, and cooking, communicated with the organizations, with everybody, all throughout, high Bid.

We make weekly meetings, I'm so a whole company so that everybody could close together. We could set how we were all traveling, and what we could do.

one thing that we did to the Shia and just be weeks ago actually, and we have an annual ALC which usually you get big events, and mainly the sales teams, and then leaders from different departments.

The ..., we decided this year, that it would be virtual, so that everybody in the company could join this event, and it's why we sit down, all calls, what we're going to do for the future, I will travel in the past and how we're going to go.

Which 1 to 21?

Everybody was there, so you could see what was expected, what we were going to do.

We celebrate the success stories for everybody throughout the year, and we also have, um, which is scary for some that we did it.

The whole company took part in what we called the sales pitch, I will put into grapes. Many people, obviously not on sales, not knowing what to get to.

We'll give them different questions, and we have to cope well with how we present that to a customer.

Then, for the videos, again, of half of the presentation, with, well, many people were pushed, again, into that whole cultural zone, because I enjoyed it, and at the end, they really grew and they really, really appreciated the whole company points together.

I heard firsthand the strategies and not through just snap immediate managers.

I heard it from the top, which, you know, people really, I appreciated that inquiry.

That, that's excellent. And, Bev, when it comes to empowering organizations and people in the organizations to take action, to not just have ideas, but actually take action on those ideas. one of the questions that has come up, as you're presenting, is that, how do you go about tapping on the wisdom of the organization and understanding what ideas people have? And that's one level of empowerment, but even more important than that, how do, how do you help them on those ideas and execute on those ideas? Ideas for strategy execution, ideas for value creation, ideas for innovation, for customer services, and many other ideas? How do you go about identifying, prioritizing, and executing on the ideas that people come up with?

So we encourage all our managers. We will hopefully make changes, and we go through strategy. Are we listening to all of our people?

We don't dismiss any idea and we ensure that we can work through it.

We have steering committees, and as soon as it closes, Wait, Wait, well, we want to encourage people to learn, that idea could not work, But it could be that it can tweak, so that we can make sure that everybody feels included. We never ask anybody down.

We're sure that we listen to them, because we can have some great, great success stories, know, just because people have done things more white, doesn't mean it's correct. And we make sure we empower them.

I'm so, just with your line manager, we talk through what's going through. And then those line managers go to their communities, and they bring those ideas to the table, and they ensure that people recognize.

We also, everyone, we have recognition for all our employees. And awards are given, and, you know, some of those often the ideas come up with, and we support and promote that.

Because without that, if you work with people with any more ideas for you, we all need to grow up and learn all the time.

Very well, Bev, one other question that came up that was interesting is that how did you win the credit manager of the year award? What is that all about, and how do you become the credit? Credit manager of the, or we all want to hear about that.

I say it was all for nominations that I am through the Australian industry, funded management, and say, Have awards for different sites.

Say, I was nominated for the achievements that we've managed to do here at that point. I'm by obviously reducing over to Doug, putting in new strategies innovation and where we could digitalization and all that was sent to the committee for the Australian Institute of Management.

The Board reviews, everything that you've done throughout that year.

I saw the writing, Pablo, how you do it?

And I didn't know till then I go and I just knew that I was a finalist I'm sorry, very oh joy. and gratitude for what it was amazing.

Alright, experience a learning curve.

I've been very fortunate on my journey, and I've had some amazing mentors along the way.

And I just feel that is fine now to ensure that we all give ..., because without those people, I wouldn't be where I am today.

I'd also just like to say, I've been very fortunate in his early hours of the morning here, but on my till I see has also been helping me along this journey.

She's been Life Sounding Board and Springboard Law.

This presentation, puzzled me in the morning. So I just like Rachel O'Meara as well, will help me on this journey.

Well, that is just fantastic. First of all, congratulations again on all that you have done personally and professionally, what the organization has achieved in the, in this journey of growth and innovation, that you are all on. We're incredibly grateful for you to be up at four, a M in Australia right now, And the company is sharing her expertise and insights with our global audience. So thank you very much for that. We really appreciate you being with us.

Thank you for the opportunity. I really appreciate that.

Thank you, Beverly.

Thank you.

Thanks. Bye.

Bye. Bye.

Ladies and gentlemen, that was Beverly Heart sounds from the Adecco group and she is a group credit leader for that group. And again, the credit manager of the year in 20 18 and thanks for sharing the journey that continues to accelerate a fruit the pandemic with company, which is terrific. This completes our, they chew interaction.

And our day two presentations, let's take a quick look on how we're going to wrap up tomorrow on this final day. three of the conference.

So we're going to start in, we're going to start with the first session directly from Doha, with the executive vice-president of Digital Transformation of the Doha Bank. So he's going to talk about digital transformation, operational excellence in financial services and how they're being applied to Doha Bank after. Then we're gonna follow up with customer demand, the digital experiences And that's going to be a presentation directly from, who is the vice-president of Campaign Optimization Marketing Capability and change for Citibank. So such he is going to be with us and he's gonna give us the journey of customer demand. These are experienced at Citibank and the following that up, we will have a presentation from the UK. With the lead lead Business Architect for Deutsche Bank and specifically, doctor is the lead Business Architect on the financial Crimes division.

Though, each a bank, and he's going to be talking about how to terminate a relationship with the customer. Why would you do that, and how do you do it correctly?

It's a very interesting veal from major financial organization on, on A, on A, on a segment of their operations, and on how you terminate a customer relationship, and why would would you consider doing something like that?

And then, finally, tomorrow, the last presentation of the day, and also of the summit, will come from Kara, who is the global Leader for HR, Mergers, and Acquisitions, a Hewlett Packard Enterprise.

So, she's going to be talking to us about the interplay of culture and financials, in assessing deal success, when you look at mergers and acquisitions. So there'll be a fascinating view of that aspect of financial services.

So I'm very thankful for all of you to be with us today. I'm hoping to see you back tomorrow between now. And then check our posts on LinkedIn under shows that Ferris. Engage with the speakers. If you have questions. Ask them there. And we're going to have the speakers, and certainly myself, providing updates via LinkedIn post. So between now and tomorrow, you can use that as a communication platform, and that will be back with you tomorrow, in the morning, in the afternoon, or evening. Whatever the right time is for you, tomorrow, whatever you are in the world. So, thank you again for your engagement, and I hope you have a good rest of your day.

Yeah.

I'm not quite clear about that.