Nicola’s leadership has also been instrumental in shifting Siemens’ treasury operations from a passive cost centre to an active, data-driven, decision-making strategic enabler.
Traditionally, Treasury functions tend to be risk-averse, bureaucratic, and slow to adapt, prioritizing financial stability over innovation. But Nicola has never believed that treasury should be any of these things or confined to a traditional back-office role. For her, treasury is an agile and technology-driven function that proactively supports global operations rather than merely reacting to financial risks.
Nicola’s consistent challenge to entrenched industry practices includes recognising that treasury must embrace digital transformation to remain relevant in a rapidly shifting financial landscape, and she understands that failing to innovate means falling behind. Treasury needs to evolve beyond basic liquidity management to real-time financial orchestration, enabling businesses to optimise cash flow, minimise risks and leverage emerging technologies for competitive advantage. This also requires strong partnerships, which are key to deliver against these ambitions.
Some of the most significant digital transformations she has led include the consolidation of Siemens Capital’s US-based bank accounts where she leveraged virtual account technology to streamline cash pooling, enhance reconciliation and improve real-time financial visibility. She has also spearheaded the adoption of blockchain-based bank accounts.
Later, by integrating AI driven cash application and automation, she is working to ensure that cash allocation processes were automated – to a rate of 80%+, significantly reducing manual interventions and enhancing processing speed. Additionally, she is championing the transition from outgoing paper checks to digital payments.
Beyond financial and efficiency gains, Nicola’s leadership has strengthened Siemens’ treasury function as a strategic business partner. The organisation has been strengthened to be an even more active contributor to corporate strategy. A cultural shift towards digital transformation has embedded innovation, agility and continuous learning within the treasury team, making it more adaptable to future challenges. Real-time cash visibility empowers Siemens to optimise liquidity efficiently, eliminating inefficiencies.
One of the biggest challenges she faced was navigating a highly diverse and globally distributed treasury landscape, turning complexity into an opportunity for innovation and operational excellence.
Importantly, all the changes she has introduced have required significant stakeholder support. Rather than enforcing abrupt changes, she adopts a measured and iterative approach, implementing small-scale pilots before rolling out organisation-wide initiatives. This method allows for real-time assessment of impact, adjustments based on employee and leadership feedback, and ultimately, broader acceptance and commitment from senior management.
Awarding Nicola with Champion of Change, The Americas speaks of her transformative influence on the culture and treasury function at Siemens.
