Digital TransformationDominic Grounsell

Global Marketing Director

Travelex is a large & diverse global business

• 29 markets

• 100+ airports

• 1600 stores

• ~40m Transactions

• Huge B2B player

In recent years, we have experienced seismic shifts in our market

• Consumer & Tech

• Disruptive players

• Data

In 2014, the business made the decision to pivot

• Shift investment to digital

• Refocus around customer

• Be brave & challenge conventions

We’ve made great progress through the stages of transformation

1. Strategy definition & acceptance

2. Capability building & quick win hunting

3. Delivery – nurture the seeds

4. Growth – demonstrate scale & significance

5. Re-wire the organisation

There has been a lot of good….

• SuperCard, App, eComm Growth

• New capabilities starting to bear fruit

• New ideas & perspectives

• Organisation is changing

… there has been some bad…

• Aligning old with new

• Managing expectations

• Death by interview!

… and there has unfortunately been some ugly

• Building the engine while flying the plane

• Dealing with ambiguity

• Cultural whiplash

Key learning 1… It’s all about the people…

• Got to win hearts & minds

• Get ‘most’ people on the boat

• Spot the saboteurs

• Move quickly on square pegs

Key learning 2… Communicate, communicate, communicate

• Why, What, When, How

• Storytelling

• Don’t let questions / uncertainty breed

Key learning 3… Execute, execute, execute

• Move quickly to deliver results

• Nothing builds belief better

• Don’t try and eat the elephant in one go

Key learning 4… Be bold, ambitious & unreasonable

• Set yourself big goals

• If you’re hitting all your targets, you’re not being bold enough

• Push hard and hold a very high bar

Key learning 5… Resilience is essential

• Need to stand up in the headwinds

• Need to keep your energy high

• Need to keep everyone facing forward

It’s been a wild ride so far….

• Pace & energy

• So much to do

• So much to learn