Global Finance - USA (2020-09)

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Treasury and Trade Solutions
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In 2018, Shell launched the CMX program to deliver World
Class Cash Management for the future by deploying
new technologies and digital capabilities to create value
through innovative banking solutions. CMX adapts the
current Cash Management model and focuses on Flawless
Operations, Silent Banking, Plug & Play Connectivity,
World Class People & Digital Solutions.

CMX identified both short-term and longer-term
opportunities (missions) to leverage bank capabilities
and new technologies and aim to deliver them using
agile methodology. In 2019, the Shell CMX team identified
around 90 missions and have since delivered 20. Some
examples include Citi Payment Insights and SWIFT gpi,
ERP Integrator and SpeedCollect. Many of these solutions
have supported operational resilience during the current
COVID-19 pandemic.

Showcasing Shell Treasury’s Digital Journey


Digitization is a strategic priority for Shell. To deliver results, it is important to keep an open mind,


focus on practical benefits, and prioritize collaboration in harnessing new technologies, writes


Darsh Johal, Head of Global Cash Management, Shell International.


Although technology has been a key enabler, the key foundation of the program is understanding the full operating model in
terms of how processes, data, technology and people interact. Darsh explains that “we look at every initiative with an operating
model lens: if we implement this technology, what does that mean for our process, data or people? Or, if we change the process,
what does that mean for technology, data or people?”


Collaboration, both within Shell and with external partners, is critical to digital transformation. At Shell, treasury has a strong
relationship with IT, the business and the data team. In terms of external collaboration, treasury is looking to banks and
technology partners to invest and develop new technologies.


Shell treasury’s digitization initiatives have helped support overall operational resiliency during the current COVID-19 pandemic.
As a result of CMX, when remote working began, they were able to rapidly transition to digital solutions for payments and
collections and replace checks and other manual payments. Similarly, they were able to use soft tokens to enable portal
entitlement and could improve multi-bank statement delivery and cross-bank liquidity management. Self-service using Citi
Payment Insights proved to be invaluable; one of the more significant advances during the lockdown period has been the ability
to electronically sign documents using electronic signatures.


While the current CMX strategy runs until 2025, given recent events, Shell treasury is reviewing how to accelerate plans and
complete initiatives that are less reliant on new technologies by the end of 2021. This includes empowering 2 in a box teams
to originate new ideas, translate them into missions and deliver them. To support this Shell has developed a new philosophy
known as AD^3 – accelerated design, accelerated decision-making and accelerated delivery with a #letsdoit! mindset. Shell are
partnering with Citi on future collaboration using AD^3 and have an ambitious plan to achieve the new 2021 timeline. This will
include delivery of some of the current and near term missions including digital onboarding, payment outlier detection, APIs,
AR automation, payment gateways and greater use of self-service tools.

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