2914: The Evolution of Serrala: 40 Years of Cutting Costs and Boosting Efficiency

[00:00:00] How can technology redefine the role of finance within a business?

[00:00:05] Today we're going to be speaking with the CEO of a company called Serala.

[00:00:09] They're a company that has been at the forefront of financial process automation for more than

[00:00:15] four decades.

[00:00:16] His name's Axel and under his leadership, Serala has evolved to harness AI-driven scenario

[00:00:23] modelling and predictive analytics to provide clients with near real-time insights into

[00:00:29] their financial health.

[00:00:30] But I want to explore how these innovations have helped transform finance from a strategic

[00:00:35] gatekeeper to a creator of substantial value for a business, and how that journey has almost

[00:00:42] got a few parallels with the world of IT too.

[00:00:46] And we'll also discuss the pivotal role of customer-centric product development and its

[00:00:51] role in transformation too.

[00:00:53] So buckle up and hold on tight because no matter where you're listening in the world

[00:00:57] today, I'm going to be beaming your ears all the way to Hamburg, Germany, where Axel's

[00:01:02] waiting to speak with us.

[00:01:05] So a massive warm welcome to the show.

[00:01:08] Can you tell everyone listening a little about who you are and what you do?

[00:01:12] First of all, Neil, thank you so much to have me here and really appreciate our conversation.

[00:01:20] So I'm Axel Rubin.

[00:01:21] I'm the CEO of Serala.

[00:01:24] I stepped into the power of Serala a couple of years ago, started as a CFO and I came

[00:01:33] from a background in tech, in cash flow, in payments and healthcare, where I took several

[00:01:42] executive positions as CEO and CFO.

[00:01:46] So I'm based in Hamburg.

[00:01:48] This is where our lovely headquarters, we call it Sky Campus because the Sky Campus

[00:01:52] is very directly at the airport here in Hamburg.

[00:01:56] And if the wind is right, you can even smell the tires where the airplanes are landing.

[00:02:01] So the building is pretty new.

[00:02:03] And for me, it's a very, very convenient situation as I do live very close to the head

[00:02:08] office and a little bit to the outer side of Hamburg with my family, two kids, dog,

[00:02:14] a cat and two horses.

[00:02:16] So that's the Rubin family as such.

[00:02:19] I really love to be in our headquarter, to have the contract to our more than 700 Seralians.

[00:02:28] Here in Hamburg, we have roughly 300 people out of 700 around the globe.

[00:02:33] So we serve with 700 Seralians and we do have offices beside Hamburg in Barcelona, in CUNY,

[00:02:41] which is Indian, in Chicago, in Bucharest, Romania and in Amstel, Wien, close to Amsterdam.

[00:02:48] Yeah, the work for Serala, we at Serala, we deliver outstanding investment class financial

[00:02:56] process automation solutions to leading global companies on SAP.

[00:03:02] We do that since 40 years.

[00:03:04] So we are still young at heart.

[00:03:07] We call us as a FinTech.

[00:03:09] However, we already have a 40-year history.

[00:03:13] This year is a very specific year for us as we have the 40th anniversary of our company.

[00:03:19] From a solution perspective, we digitalize the office of the CFO and we are focused on

[00:03:27] the order to cash side, on the one side and then on the other side to on the procure to pay side.

[00:03:34] And in the middle of it, we have the cash treasury solution.

[00:03:37] So this is from a content perspective what we do.

[00:03:42] And we do this for more than 2,500 companies across the globe.

[00:03:48] Wow, that is incredible.

[00:03:50] And listening to your own backstory there in your career, you've covered everything from finance,

[00:03:55] fashion, healthcare, technology.

[00:03:59] I'm curious, where did your love of technology come from?

[00:04:02] There seems to be a lot going on now.

[00:04:04] Did you begin in tech?

[00:04:06] Have you always been interested in tech?

[00:04:08] I feel there's got to be a story there.

[00:04:10] Yeah, indeed.

[00:04:13] The thing where everything comes together is the finance side of the house.

[00:04:17] I'm always coming from the starting with the banking area.

[00:04:20] I was always focusing on the finance side, on the CFO side of the house.

[00:04:25] And the finance side of the house, so talking about a balance sheet, cash flow, P&L,

[00:04:31] this is the same across all sectors.

[00:04:34] This is why I love to start and to work as a CFO because as such, you obviously can step into many

[00:04:41] different areas, into many different sectors.

[00:04:44] But all these sectors are coming together on one side again, which is P&L, balance sheet,

[00:04:51] and cash flow.

[00:04:52] That makes it unique.

[00:04:54] This is why I love to be a CFO and to start with a CFO.

[00:04:59] And now I have the very convenient situation that I can combine everything, so to speak,

[00:05:04] so that I can create, I can develop with our company really tools that I was really looking

[00:05:11] for from a CFO perspective for a very long time.

[00:05:17] Yeah, and I'm glad you said that because when I was doing a little research on you before you

[00:05:21] came on the podcast, I was reading how you've described adopting the mindset of a CFO to

[00:05:27] drive Sorala's focus on developing solutions that essentially truly matter to your customers.

[00:05:33] It did feel like a unique mindset to me.

[00:05:35] So can you share how this approach has maybe helped shape your leadership style and indeed

[00:05:40] the culture within the entire organization too?

[00:05:43] A strong belief and the power of putting yourself into your customer's shoes to lead

[00:05:51] a company and a business successfully.

[00:05:54] This is really what I love to do.

[00:05:57] And as such, I'm really in a unique position, which is a huge strength that my background

[00:06:03] is in finance and that I served as CFO for many years, not just here within Sorala,

[00:06:10] as said also many other companies before becoming the CEO of Sorala.

[00:06:17] So still today, it deeply influences how I approach my role as a CEO.

[00:06:24] Here at Sorala, our customer is really the finance function, the office of the CFO.

[00:06:30] So when I go into meetings here in Sorala, I always put my hat and the customer's hat

[00:06:38] on and just look as a customer to whatever happens when we discuss new products, when

[00:06:44] we develop things.

[00:06:46] And I go back and step back and, okay, what would I do and what would I say to this as

[00:06:53] a CFO?

[00:06:54] And that includes also head of treasury, the debtor side of the house, and the accounts

[00:06:59] payable side of the house.

[00:07:01] And I love to bring all the way back the conversation to what we develop, but this really

[00:07:10] needs to hit the customer's demand.

[00:07:14] So for every decision, I always ask myself, is this really making multiple difference

[00:07:20] to my role as a CEO or as a head of treasury?

[00:07:24] Or is it really that we liberate the organization of our customers from manual work?

[00:07:33] Because this is ridiculous.

[00:07:36] Finance process automation can clearly take away all these manual processes so that the

[00:07:42] finance team really can focus more on the content and not just putting the figures together.

[00:07:48] It's more reading and analyzing and to decide and to advise what to do based on these figures.

[00:07:55] So this is really in my DNA.

[00:08:00] And then also what really matters, and this is leadership, this is our time to value.

[00:08:06] Coming from a CFO perspective, I always said, okay, it does not make any sense to really

[00:08:11] have a Porsche in-house whenever this Porsche really cannot bring the horsepower and the

[00:08:16] speed to the street at the end of the day.

[00:08:18] So for me, time to value makes a difference.

[00:08:22] And this is what I really want to see from our organization and from our solutions once

[00:08:28] they are implemented within our customers' world.

[00:08:33] When it comes to customer-centric product development, how does stepping into your customer

[00:08:39] shoes, how does that influence product development process at Serato?

[00:08:43] And is there any, I don't know, example or use case or customer story that you could

[00:08:49] share that would bring to life how that mindset shift has led to a specific innovation or

[00:08:55] even change in your solutions?

[00:08:58] It definitely had a huge impact.

[00:09:01] So we, for example, which is very normal in our industry, we overhaul and we develop and

[00:09:08] improve our solutions day by day by day.

[00:09:11] And putting the customer's hat on and discussing things with customers first is very important

[00:09:20] so that you do not just develop things that maybe a customer does not need in whatever

[00:09:25] kind of case.

[00:09:26] And bringing this to the table, again, with the customer's hat on, can really make a difference.

[00:09:33] So when we overhaul a solution, when we improve a solution, from time to time I do see things

[00:09:39] where I say, okay, that might be from a development perspective and from an IT perspective helpful,

[00:09:45] but not from a functional perspective.

[00:09:47] And then I go in there and say, does it really make sense from a customer perspective?

[00:09:53] Or does it mean that a customer may have to do a few clicks more to work on the bookkeeping

[00:10:05] or on the reconciliation and so on and so forth?

[00:10:07] And then just a few clicks per item can be served to really large enterprises, can at

[00:10:14] the end of the day create a hell of a lot of incremental work.

[00:10:18] And this is what I need to avoid.

[00:10:20] And just with this mindset so that every click, every detail in the sum at the end of the day

[00:10:28] can be big.

[00:10:30] And this is what I have seen and this is what I try to stop whenever I see it.

[00:10:36] This is where my experience really helps to really sharpen that mindset.

[00:10:42] And then also, again, always push the organization to talk to the customers, not to develop things

[00:10:49] because from whatever perspective, it seems to be a pretty uploaded solution.

[00:10:55] Now we need to develop what the customer needs.

[00:11:00] And it sounds easy, but this is just what we need to do.

[00:11:06] And as someone that is a guy with a strong financial mindset, I know that cash count

[00:11:11] keeps CFOs up at night and especially in an era where with global conflict, economic uncertainty,

[00:11:17] et cetera, it seems to exacerbate that.

[00:11:19] So in what ways has Serala addressed some of these concerns directly and how have your

[00:11:24] solutions evolved to better support working capital optimization?

[00:11:30] You're very right, Neil.

[00:11:32] So optimizing cash count is the very core of the concerns and focus of the CFO.

[00:11:37] I mean, why?

[00:11:38] Because you brought it already to the point.

[00:11:39] You can even have a negative equity in your balance sheet that maybe cannot or is not a

[00:11:47] problem at the end of the day.

[00:11:48] What is a problem is really if you run out of cash, then the story is just over.

[00:11:54] And this is why CFOs typically really focus on cash every hour, every minute just to have

[00:12:02] enough cash so that the company as such can survive.

[00:12:08] And this is really the reason why Serala has been built 40 years ago.

[00:12:13] So Serala, since 40 years, is really creating software to improve the inbound and the outbound

[00:12:21] cash flow view and also the focus on optimizing it.

[00:12:27] And this is typically what drives optimizing cash flow, optimizing working capital.

[00:12:33] So this is typically what improve the cash situation of the organization.

[00:12:41] And this is still since 40 years today, our core focus that we really challenge

[00:12:48] this cash flow generation.

[00:12:51] So our solutions here at Serala are built through a deep understanding that finance

[00:12:56] leaders need to have control and visibility of cash flow and into and out of the organization.

[00:13:04] So this is a DNA of our organization that lead typically to a point where

[00:13:10] our customers can have a full control about the financial picture.

[00:13:16] And that differentiates also Serala that we're just not looking on how to get to improve

[00:13:23] cash flow.

[00:13:24] At the end of the day, we really go around.

[00:13:26] So we reanalyze entire financial process of an organization.

[00:13:33] So we see the full picture before we implement a solution into our customers as a landscape.

[00:13:43] We really look into the workflow, into the structure of that organization.

[00:13:49] We have experts just looking on and then with workshops together again, together with the

[00:13:56] customers, customer centricity.

[00:13:59] So an analyze really the entire process.

[00:14:02] And once we have a deeper understanding of this process, we help them also to improve

[00:14:08] these process.

[00:14:09] And that typically leads to a significant improvement on the cash flow side.

[00:14:16] And then you are able to even this macroeconomic weaker times to survive and always to have

[00:14:25] enough cash in your balance sheet and on your account.

[00:14:30] On the other side, even if you have too much cash, so there are opportunity costs to it.

[00:14:37] And also there we can help to improve what to do with the excess cash flow and so on.

[00:14:45] So this is the DNA of our organization.

[00:14:50] And for a CFO, this is why you typically say, okay, cash counts, cash is king.

[00:14:55] It's all around these figures.

[00:14:57] And the truth, as I always said, the truth of an organization lays on the bank account.

[00:15:03] If you have cash there, the world is okay.

[00:15:08] And this is what we just here at Serala help to improve for our customers.

[00:15:15] And as we've mentioned, Serala has been in business for 40 years now and technology is

[00:15:20] beginning to solve some of the problems that we're talking about today.

[00:15:24] We've done brilliantly as a tech podcast and we've lasted 15 minutes before mentioning the

[00:15:29] AI word, but it does play such a critical role, especially in predictive analytics in your world

[00:15:35] too.

[00:15:35] And Serala leverages AI driven scenario modeling and predictive analytics to provide this real

[00:15:42] time visibility into financial health, which again feels like a huge game changer moment.

[00:15:47] So how do you see these technologies continue to evolve and what impact do you think they will

[00:15:52] have on that more strategic role of finance functions within a business?

[00:15:58] AI is indeed deeply transformative when it comes to financial forecasting and planning

[00:16:05] processes through its capabilities in predictive analytics.

[00:16:09] So this is the big asset of AI.

[00:16:12] We here at Serala use machine based rules and AI as I think the combination of both

[00:16:21] really make the difference.

[00:16:23] So our solutions get to nearly 100% of automation ratios when it comes to the daily

[00:16:33] operations.

[00:16:34] And we combine that here with AI driven forecast scenarios and AI driven analytics to get to

[00:16:43] this predictive forecast elements.

[00:16:47] This is for us very important that we just automate what is currently on the day to day

[00:16:56] perspective within the company, but also to get the best knowledge around to create scenarios.

[00:17:04] So what will happen with the cashflow in the future based on past experience, based on

[00:17:10] what is currently out there in the whatever kind of environment from a supplier's perspective,

[00:17:18] from a customer perspective.

[00:17:20] This is where we take an eye with AI on it so that we put everything together into one

[00:17:26] solution.

[00:17:27] And we really by doing so, we combine the ultimate finance function and develop that

[00:17:35] to an autonomous one because this is what will happen.

[00:17:37] So the finance function as such will become ideally seen from our perspective, fully autonomous

[00:17:44] solution in the next future.

[00:17:48] For the time being, the finance function has always been focused on looking at the

[00:17:51] past past revenues, but really this now with AI based on data driven predictive analytics,

[00:17:58] this can now be also predict to some extent the future.

[00:18:04] And again, seen from a customer's perspective, seen from a COO perspective, it's very good

[00:18:08] if you have a scenario based analyze when it comes to the future.

[00:18:13] And this is what you can predict and combine with AI.

[00:18:17] Here at Serala also we are using AI for capturing purposes.

[00:18:21] So we have it in many of our products when it comes to how can I read invoices?

[00:18:26] How can I reconcile data and so on?

[00:18:30] There we are using the latest state of the art technology and also with this technology,

[00:18:35] we can even improve still the capturing ratios.

[00:18:41] And we are now talking really about 80, 90 up to 100% capturing ratios.

[00:18:46] Also here, every basis points or every basis points higher capturing ratio.

[00:18:52] It makes a huge difference when we talk about thousands and millions of invoices or if we

[00:18:59] can see the issue elements and this makes really the difference.

[00:19:05] So therefore, in essence, the integration of AI for predictive analytics is really what

[00:19:10] empowers CFOs to shift their attention from routine transactional tasks to really high

[00:19:16] level strategic processes.

[00:19:18] And this is what counts for our customers.

[00:19:22] And I would imagine also from your customer's perspective, the key word here is going to be

[00:19:27] integration, how it works with other solutions that they use.

[00:19:32] And one of the things that stood out to me when I was researching you is Serala Suite

[00:19:36] is embedded into SAP and makes it intuitive and easy to configure too.

[00:19:41] So it's taking a few of those pain points that many business leaders will have.

[00:19:45] So how important is that seamless integration for your clients from those conversations that

[00:19:51] you're having and how is it enhancing the user experience and efficiency for CFOs and

[00:19:56] their teams?

[00:19:57] Anything you can share around that?

[00:20:00] Yeah, it's about our history here at Serala has always been very closely tied to SAP.

[00:20:06] We believe that SAP is and will remain the best ERP out there.

[00:20:11] Both of our companies, SAP and Serala were founded in Germany and we know very, very,

[00:20:18] very well how SAP works.

[00:20:20] We are deeply interconnected to SAP.

[00:20:23] And seeing this integration into SAP is a key for us, again, coming from a customer's perspective.

[00:20:30] You don't want to touch data twice.

[00:20:32] And ideally, once the data is coming to whatever way into your system, it goes throughout the

[00:20:41] entire ERP and your systems.

[00:20:46] And this is why we are creating solutions on stack.

[00:20:50] And on stack for us means on the one side embedded, on the private cloud, but we also

[00:20:55] can do it in a fully public cloud way.

[00:20:59] So we also have a multi-tenant cloud-based solution available.

[00:21:05] However, what we talk about on stack, so again, embedded private cloud or on a multi-tenant

[00:21:12] cloud base, so the seamless data integration that is really key for us.

[00:21:17] And also, we ensure that our solutions really work with the latest state of the SAP solutions

[00:21:25] called S4HANA.

[00:21:26] We fit to their current RISE initiative and whatever SAP is doing, we ensure that our

[00:21:32] solutions, again, are fully integrated into it and that they allow a seamless data integration.

[00:21:40] Whatever SAP is doing, so to speak, it fits to what we do.

[00:21:47] And as such, you can say SAP is a big tanker and we are a speedboat route and we ensure

[00:21:52] that everything works seamlessly for our customers.

[00:21:58] And seamless things, for me, just not mean the seamless data integration.

[00:22:05] It also means from a user experience perspective that ideally you do not see any difference.

[00:22:10] Again, coming from a customer's perspective, the accounting teams, the bookkeeping teams,

[00:22:15] whenever they work within SAP, they do not even see that in the background.

[00:22:19] It's in Serrata's solution because the touch and feel, how you look into the system, what

[00:22:25] you see on your screen, this is perfectly integrated in SAP.

[00:22:30] This is also when we speak about seamless things, we also extend and expand that to

[00:22:39] the user experience and to the user interface side of the house.

[00:22:43] So ideally, you do not see any difference from a customer perspective.

[00:22:47] What does that mean?

[00:22:48] For sure, it again increases the user friendliness.

[00:22:55] It also increases the effectiveness of our solutions.

[00:23:01] And I also read that you're someone that's incredibly passionate about elevating the

[00:23:07] finance function to that of a more strategic partner within a business, which seems incredibly

[00:23:13] refreshing and great to hear.

[00:23:15] And I wonder just what other business leaders that are listening and inspired by that move.

[00:23:20] Can you elaborate on how Serrata facilitates such a transformation?

[00:23:24] And also, what kind of changes you might have observed in the organizations that adopt that

[00:23:30] approach to and follow in your footsteps?

[00:23:32] What are you seeing here?

[00:23:34] Yeah, we need to the role of the CFO was often seen as guarding just the financial

[00:23:39] gates.

[00:23:40] But in today's volatile market, the rise of technology and face with unprecedented challenges,

[00:23:47] it's just not enough.

[00:23:49] And we are from a CFO perspective, we're really faced with a new era in finance and that truly

[00:23:57] transforms the role of the CFO from a gatekeeper to a strategic value creator.

[00:24:02] This is how we, Serrata, see the CFO office.

[00:24:06] Again, it's really a strategic value creator to a company's business.

[00:24:11] And this transformation just can only be possible with technology and automation.

[00:24:17] And we here automate key process within the finance function.

[00:24:23] We don't only free teams from efficient processes, poor data visibility and inflexible legacy

[00:24:29] technologies.

[00:24:31] We also really free up resources and the own time of the finance department.

[00:24:38] So therefore, without the right system in place, finance operations tasks can be extremely

[00:24:43] manual and time consuming.

[00:24:46] And that restrains typically finance teams from being seen as back office executes.

[00:24:52] And we really redeploy those resources to strategic projects and bring value adding

[00:24:58] operational tasks to the finance departments.

[00:25:02] And therefore, we enable them to become the strategic partner to the business that, again,

[00:25:07] seen from a finance CFO perspective, they've always wanted to be.

[00:25:12] And Serrata essentially facilitates now this transformation as it brings transparency,

[00:25:17] efficiency and speed to the finance leaders to know more about the financial health of

[00:25:24] their organizations.

[00:25:25] We make financial projections faster.

[00:25:31] Using Serrata's solutions, you typically come to better and prompt decisions, especially

[00:25:35] around optimizing the working capital and predict outcomes.

[00:25:40] They are definitely much more curable at the end of the day.

[00:25:43] And we really elevate the position to for the office of the CEO to become a strategic

[00:25:52] partner of the business.

[00:25:53] So that's the core of our work, not just right now.

[00:25:58] So as I said, we are within the business for now 40 years.

[00:26:03] I absolutely love the line you use there about wanting to see finance going from a

[00:26:10] strategic gatekeeper to a value creator.

[00:26:13] It's a great line.

[00:26:14] And I think there's a lot of parallels between the world of finance and IT.

[00:26:18] IT used to be seen as the strategic gatekeeper or guardians of the network.

[00:26:23] And that was their role, saying no when people wanted new technology and stuff.

[00:26:29] But everything's changing now, isn't it?

[00:26:31] And I would argue that both departments are being seen going away from being blockers

[00:26:36] or gatekeepers and delivering value to the business.

[00:26:39] And both those departments doing that is so important, isn't it now?

[00:26:43] I've been fortunate enough to be in a unique position as I was previously a long-term

[00:26:51] CFO, not just within Serrata, but in any other businesses.

[00:26:55] And I have held other CFO roles now for more than 20 years.

[00:26:59] And this experience has now given me the intrinsic need to solve the pain points

[00:27:07] of my previous role.

[00:27:09] And so my journey, therefore, has really provided me with valuable insights into organizations,

[00:27:18] financial challenges.

[00:27:20] And it's really my passion for driving positive change into the different industries,

[00:27:28] always focused on the CFO office.

[00:27:31] And this fits exactly to Serrata's aim at the end of the day, as we really digitalize

[00:27:36] the office of the CFO, we really understand the challenge of this office that this is key.

[00:27:43] My experience leading finance departments has been instrumental in this area.

[00:27:52] And, of course, also my background and my experience alone is not enough, but I nurture

[00:28:00] this mindset really into our organization combined with really customer-centric activities.

[00:28:07] So I still meet with customers on a daily basis, going to customers, talking to customers,

[00:28:14] going to whatever kind of events like the finance symposium in Mannheim, or we have

[00:28:21] customer meetings in the US.

[00:28:23] Beginning of June, we have our so-called Serrata Summit here in Hamburg, where we expect a

[00:28:29] couple of hundred customers.

[00:28:30] So I'm there talking to customers and listening to customers, which is very important to get

[00:28:39] direct back from the customers, and then bringing the customer feedback also into the organization.

[00:28:47] And on top, really pushing the organization to get closer into contact with customers.

[00:28:54] So our solution heads, for example, who are at the end of the day, from a content perspective,

[00:29:00] fully responsible for the order to cash the procure-to-pay or the payment side of the

[00:29:05] house, I draw them really to join customers' meetings to have directly the customer's

[00:29:12] feedback.

[00:29:12] And also, from a customer perspective, they really love to talk to the person who at the

[00:29:18] end of the day is fully responsible for the respective software solution that makes the

[00:29:22] thing Serrata really unique.

[00:29:24] And we will have business leaders listening to our conversation today all around the world.

[00:29:29] We've got a huge audience in the US as well.

[00:29:31] So what advice would you give to any business leader listening that maybe they're looking

[00:29:35] to adopt a more customer-centric approach in their leadership and product development?

[00:29:42] How can they start to become their customer and drive innovation and success?

[00:29:46] Because I think it's almost a secret sauce that everybody's looking for at the moment.

[00:29:51] But what advice would you offer here?

[00:29:54] I would say, which is good, there's nothing that really is stopping a CEO from adopting

[00:30:01] this mindset and investing in gaining real and deeper customer understanding, even if

[00:30:07] they haven't been in the customer's shoes for the time being.

[00:30:13] And therefore, my first advice would be to really connect with customers on a one-to-one

[00:30:20] level.

[00:30:21] So really seeking out different customers in the network and spend a day or whatever

[00:30:28] time with each of the customers and ask the right questions to understand also their

[00:30:34] perspective of the store.

[00:30:36] The customers at the end of the day, it can also seem from a CFO perspective, they are

[00:30:41] appealing, they're paying the bill.

[00:30:44] And therefore, just to get to reach out to the customers, this is a huge step, the biggest

[00:30:51] step in really becoming the...

[00:30:54] To get to customer-centric mindset.

[00:30:57] And then second, when you have spoken to the customers, it's very important to also implement

[00:31:03] this customer-centricity approach to the own organization.

[00:31:09] And adopting really the more customer-centric approach doesn't have to be a one-person job,

[00:31:17] it needs to be the focus of the entire organization.

[00:31:22] You need as a CEO then really inspire your organization that customer-centricity,

[00:31:27] focus on customer makes the difference.

[00:31:30] Yeah.

[00:31:31] At Serala, for example, we have implemented many key initiatives such as that we are using

[00:31:39] and hosting customer user groups where we invite users typically to our headquarters.

[00:31:46] As I said, we have the big Serala Summit where we present our house, our solutions to the

[00:31:53] customers, where we discuss solutions with existing customers and with potential new

[00:31:58] customers really in detail.

[00:32:00] So where also our customers from a, let's say, dating perspective have the chance to

[00:32:06] discuss whatever kind of things with our customers.

[00:32:10] We are also using these summits, these top roadshows that we do in different countries

[00:32:17] around the world to also inform the customers about changes of whatever kind of legal or

[00:32:24] tax environment typically has an impact on our solutions.

[00:32:28] This is what we then discuss with them so that we are really a partner for the customers.

[00:32:39] It's fairly clear within Serala, we spent in the meantime a lot to get into contact

[00:32:49] with our customers and that not every company can invest as many resources as we do it here

[00:32:56] at Serala, but even a CEO of a much smaller company could implement customer-centric

[00:33:04] initiatives seen from my perspective and also the mindset could bring the mindset to

[00:33:10] the organization.

[00:33:15] Last but not least, with regard to that, I would really advise leaders to find the right

[00:33:20] balance between customer-centricity and not to really overanalyze or micromanage everything.

[00:33:29] So there needs to be a right balance.

[00:33:33] So here at Serala, we have therefore three topics we are focusing on, which is customer

[00:33:40] centricity, product, and people.

[00:33:43] And finding the right balance between these three boxes, this is for us very, very important.

[00:33:49] So therefore, customer centricity, I think it should be an inspiration for each and every

[00:33:54] CEO.

[00:33:56] 100% with you.

[00:33:57] I've absolutely loved chatting with you today.

[00:33:59] We've covered so much in a short amount of time.

[00:34:02] But one final tradition we always keep on this podcast is not only do you get to share

[00:34:07] your insights, you also get to leave everyone listening with one or maybe even two final

[00:34:12] gifts.

[00:34:13] And that is a song that we can add to our Spotify playlist.

[00:34:16] Guilty pleasures are allowed.

[00:34:19] Or a book that we can add to our Amazon wishlist.

[00:34:22] All I'd like to ask is, what would you like to leave everyone listening with and why?

[00:34:27] So that was a hard one for me, Neil.

[00:34:29] And I came up basically with both of it.

[00:34:33] So first of all, we have now spoken a lot about customer-centricity.

[00:34:38] And for sure, I would recommend the book Winning on Purpose.

[00:34:44] It's from Fred Reichert, and he's the creator of the Net Promoter Score.

[00:34:51] It's a must-have for each and every CEO, I would say.

[00:34:55] But on the other side, as a CEO, you also need to be passionate and professional around

[00:35:02] what you do.

[00:35:02] And therefore, I would shake it off from Taylor Swift because Taylor Swift, for me, is a

[00:35:09] great combination of great talent on the one side and hard work on the other side.

[00:35:14] I strongly believe that hard work really outperforms talent if talent doesn't work

[00:35:21] hard.

[00:35:22] So that's for me, Taylor Swift.

[00:35:24] And also, as a CEO, from time to time, as you build with strategic perspective, a long-term

[00:35:32] success story, there might be some criticism and then you just need to shake this criticism

[00:35:38] off.

[00:35:38] So that's the reason for Shake It Off from Taylor Swift.

[00:35:42] Wow, what a great choice.

[00:35:43] I will get that added to the Spotify playlist and, of course, the book to our Amazon wish

[00:35:48] list.

[00:35:48] And for anyone listening, just wanting to find out a little bit more information about

[00:35:52] Sorella, all the great work you're doing, maybe even contact you or your team.

[00:35:56] What's the best starting point for everything?

[00:35:58] Where would you like to point them?

[00:35:59] So there are two points to get in contact with one.

[00:36:03] One is our homepage, which is sorella.com, and the other one, you can find me on LinkedIn.

[00:36:08] And I'm really happy to share thoughts, ideas, and things like this.

[00:36:14] Fantastic.

[00:36:15] Well, I'll get that link added as well so people can find you nice and easily.

[00:36:19] And I've loved learning today about how for 40 years, Sorella has helped businesses cook

[00:36:24] costs and automate financial processes.

[00:36:26] But I also love how you've evolved as a company and how Sorella leverages AI-driven scenario

[00:36:31] modeling and predictive analytics to provide that near real-time visibility into financial

[00:36:37] health.

[00:36:37] And another huge takeaway is where you said to me that finance is going from being a strategic

[00:36:45] gatekeeper to a value creator.

[00:36:47] I think that's a powerful moment to end on and a lot of food for thought there.

[00:36:51] But thanks for sitting down and sharing your story today.

[00:36:54] Thank you, Neil.

[00:36:56] It was really great to talk.

[00:36:57] Thank you.

[00:36:58] So as we wrap up our discussion today, I think it's clear that Sorella's journey over the

[00:37:03] past 40 years is a testament to the power of innovation and customer centricity all

[00:37:09] the way across the financial sector.

[00:37:11] And with their focus on leveraging AI to enhance financial visibility and decision-making,

[00:37:17] Axel is ultimately steering the company to enable CFOs to shift from traditional roles

[00:37:22] to becoming strategic partners within their organizations.

[00:37:27] The big question I'm left with though is what are the next 40 years going to hold for

[00:37:31] financial technology and how will companies like Sorella continue to adapt and drive

[00:37:37] the evolution of this critical business function?

[00:37:40] You've heard from me, you've heard from Axel today, but I know you've got your own insights,

[00:37:45] your own experiences, and they could be quite different to what we've talked about today.

[00:37:50] But I want to get your voice heard too.

[00:37:52] So email me techblogwriteratrook.com, Twitter, LinkedIn, Instagram, just at Neil C. Hughes.

[00:37:58] Let me know.

[00:37:59] Other than that, I'll be waiting in your podcast feed bright and early tomorrow with another

[00:38:04] guest.

[00:38:04] But just thank you for listening today.

[00:38:06] And until next time, don't be a stranger.