Evolving from an almost entirely manual treasury set-up to one where the latest technology is being deployed has advantages far beyond process efficiency. TMI talks to Muhsin Alrustom, Group Chief Financial Officer, Asyad Group, to hear just how far ahead of the game its Bottomline TreasuryXpress system is taking it.
Sometimes great changes inspire even greater progress. When Oman Shipping was brought under the wings of the Omani government-owned Asyad Group, its vital treasury technology project would soon reach beyond its own domain and into the entire group of 15-plus maritime, port, free-zone and land-based logistics businesses.
Under the guidance of Alrustom, a project to implement the Bottomline TreasuryXpress platform – which he’d initiated in his former role as Group Treasurer for Oman Shipping – took on heightened importance. Indeed, as his promotion to CFO of the newly combined business was announced, he was already developing plans for the centralisation of treasury.
As part of his expanded remit, Alrustom has inherited a set of responsibilities that will underpin the continuing transformation of the group under the Asyad branding. With the implementation of TreasuryXpress within Asyad Shipping already providing much-needed coherence to that firm’s treasury activities, it made perfect sense to him to push for a wider roll-out of the platform. Now it is set to deliver coherence and a range of other improvements to the whole group.