Sharing is Knowing
At first glance, the worlds of social networks and treasury appear pretty incompatible. The finance industry continues to be a fairly conservative environment in which data confidentiality and privacy represent fundamental values, where extensive and important responsibilities inspire earnestness, and where grey suits are the visual manifestation of respectability. Social networks sing to a completely different tune: users don’t waste any time posting away, and the virtual atmosphere is loud, flashy and fun. What matters are individual experience and personal opinion. So how could treasury ever be at home in the world of social media? And how can treasurers benefit from social networks?
Social Media changes the way we communicate
In the last decade, social media has revolutionized the way we communicate, and simply talking about a trend would no longer do reality justice. Every day, over 2.6 billion people worldwide are active in social networks. The Internet is simply enormous and bustling with activity and it just keeps on growing. That said, most users’ activity is concentrated on a limited number of platforms, including the social networks of Facebook, Twitter and LinkedIn. Users can feel the benefits of social media in their everyday lives: they can connect to other users worldwide and gain information, knowledge and experience thanks to other people’s posts, without needing to be in the same place at the same time.
From fun activity to real added value
Sharing a laugh with others or keeping in touch with friends and family in far-away places are not the only perks. There are many situations where we can draw a direct benefit from other people’s information. Instead of perusing glossy travel brochures, travelers nowadays automatically turn to other people’s authentic, first-hand accounts on the various dedicated travel review platforms that are open to anyone. Buying and selling things online are no longer anonymous affairs either but come complete with purchase reviews and service profiles. Now imagine you were the treasurer of a company about to expand business into some “exotic,” far-flung corner of the world. How much easier would your life be if you could draw on the knowledge and experience of locals in those markets? Whether it is recruitment or finding the right bank, an app featuring the real life accounts of many different companies would enable you to quickly learn the lay of the land, make swift decisions and ultimately contribute to other companies’ success with your own reviews and ratings.
Brilliant minds as intelligent filters
Using social media has fundamentally changed the way in which we obtain information and how we communicate: we choose to follow people because we’re interested in their personal opinions, because what they think matters to us, and because we consider their input to be valuable. This enables us to get a handle on the overload of information, make a very conscious selection and define the quality of content we would like to receive.
The global “Us:” worldwide dialogue and cooperation
We’ve moved away from one-way, isolated sender-receiver scenarios to a dialogue, to information generated and shared as part of a network. Ultimately, this has also changed the way in which we work together: today, we have real-time access to a global network of people, can pursue trains of thought as a community and combine the knowledge of everyone involved. BELLIN’s “Load Balanced Treasury” approach brings this sense of community and cooperation to corporate treasury and presents treasurers with a joint, digital platform, mirroring the way in which we communicate in social networks.
Social Treasury platforms
Within the BELLIN Community, this approach is taken one step further with our own virtual information and communication platform for BELLIN clients, Treasury Connected. Moreover, by being active on public channels, such as Twitter, LinkedIn, Facebook and YouTube we aim to share relevant information and news with you in real time, including contributions by other thought leaders connected to our networks. With social media, you can keep up to date faster than via any other information channel. What’s more, you’re invited to write and share your own posts and to contribute your opinion to help build treasury know-how and expertise. Give it a go – sharing knowledge is not just helpful but also fun!
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