ANALYSIS CCR
ENGAGE WITH CUSTOMERS TO DELIVER SOLUTIONS
By taking a proactive stance and working with your clients you can help to deliver the working capital solutions to help meet their specific needs By Chris Jackson
THE days of simply talking about products with clients are long gone. As treasury continues to become an increasingly important strategic function, cash-management discussions have needed to change too. Scalable strategic solutions are
more valuable than tactical fixes. While issues such as system functionality and visibility are still key, the requirements underpinning these needs are growing ever more complex and detailed.
Real communication Communication with clients is evolving too. It is essential that communication is not simply one way, but actively engages with clients in constructive, two-way conversations. Furthermore, it needs to be a 360-degree collaboration at all stages of solution delivery. For us, at Lloyds Banking Group,
our overarching priority is helping businesses – and Britain – thrive. That starts with being proactive: not just listening carefully to customers’ suggestions, but actively engaging them in scoping the deliverable too. We engage early and often, and aim
to get all parties – the customer, the front-office team, and the back-office team – around the same table working together. The trick is to not only have people
who understand the challenges, but also those who understand how the solutions can be tailored to fit.
A combined approach Part of that means ensuring that we are working across teams behind the scenes, involving whichever product specialists are needed as and when required. But mostly, this is about working closely with our customers so that,
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It is essential that communication is not simply one way, but actively engages with clients in constructive, two-way conversations
together, we can deliver the working- capital solutions that exactly meet their need. Adopting this 360-degree, solutions-led approach is just the start. The corporate treasurer’s world will continue to change. Expectations in terms of cash
management and payments, in areas such as electronic bank account management, for example, are being revolutionised and the way that we, as a bank, respond to those challenges must revolutionise too.
Being a thought leader As such, thought leadership is likely to become an increasing differentiator. A bank that is not only listening, but adding tangible value at boardroom
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level, will not only be helping clients free themselves from day-to-day cash management challenges, but will also be supporting their strategic vision too. Once each party becomes a trusted
advisor to the other, in helping their businesses to prosper, the possibilities become endless. CCR
Chris Jackson is head of cash management, mid markets global transaction banking, at Lloyds Banking Group E-mail: Christopher.Jackson1@
lloydsbanking.com
July 2015
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