Treasury Take: Balancing digital change

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Wells Fargo Global Treasury Management

Treasury Take

A collection of Global Treasury management videos featuring client business leaders sharing knowledge, experience, insights and strategies.

What it truly means to digitize your organization

Balancing digital changes

Adam Rigby
Senior lead Digital Product Manager
Wells Fargo Global Treasury Management

Michelle Austin
Chief Financial Officer
Smith Bagley, Inc.

Adam Rigby: Digitizing your organization can take a number of different forms. I am Adam Rigby with Wells Fargo and today I have with me Michelle Austin from Smith Bagley, Inc., the Chief Financial Officer, to talk about what her experience has been like digitizing her organization. Michelle, a host of internal and external factors can impact when you make a decision for your organization. Can you talk about what it means to choose between an incremental or transformational change for your business?

Michelle Austin: For Smith Bagley, we really haven’t made any transformational changes yet, I think our changes so far have been, you know we’re just getting our feet wet into the digitization and our changes have been minimal. We’ve been able to really offset any costs with some minor changes elsewhere. So, I think, down the road, now that we’re on this path, it’s a great path for us, and I think we’ll be looking for additional changes going forward. 

Back to Adam: So, you mentioned costs, can you talk a little about the cost analysis you do when you’re deciding between if I should make a change or stay with the status quo?

Back to Michelle: So, within Smith Bagley costs, we don’t have a set aside budget, necessarily, for this digitization in our company. However, what we look at is in terms of efficiencies. So, with the changes, even with the simple ones we’ve made today, we have actually realized some direct cost benefits and time savings benefits. As a small company you know we not able to reduce head count but what we have been able to do is reallocate labor proportionately.

Back to Adam: Thank you Michelle, I appreciate you joining us here today.

Back to Michelle: You’re very welcome, thanks for having me.

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