“I like trying out something new and different to further develop Scania’s business and organisation with a rational and holistic approach,” said Eunjoo Chun, the new Chief Financial Officer (CFO) for Scania Southeast Asia.
Scania’s New CFO Reveals Total Operating Economy Approach
Chun’s journey with Scania began more than 20 years ago when she joined Scania Korea in 1998. After 14½ years, she moved to Scania Taiwan as the CFO in 2012. She became one of Scania Southeast Asia team member in April this year.
“I am willing to do this in resolving multiple and complex situations to find solutions to make it happen through a balanced approach. I would like to continue to move forward on this journey in Southeast Asia,” she said
Her extensive hands-on experience in the automobile industry, not only in the finance areas but also in different big and complex projects in both Scania Korea and Taiwan, made her the perfect fit for the new position. These valuable experiences gained her a holistic perspective that enables her to bring creative and practical solutions that help the clients achieve their strategic goals.
Importance of TOE
“I would like to stress on the importance of Total Operating Economy (TOE),” she continued. “If we are in business for the long term, the way we make decisions must be for the long term. A short-term criterion is not sustainable for a long-term business. TOE looks at the long-term operating cost of a truck or bus operator and how much that cost could be lower in the long run.”
Chun realised that it was a process. She pointed out that some operators already had a long-standing relationship with Scania and seen how reliable Scania was in fuel economy and uptime. So, they knew about the best TOE they could get from Scania. Some operators asked about TOE because they were well versed in that way. Some operators only looked at upfront cost – these were customers that Scania enjoyed sharing the TOE perspective with.
“Well, this has to be done with historical data as the basis of the discussion. We could do that with the Scania Fleet Management System where we track driver and vehicle behaviour up to 1min intervals. The data is used to discuss the results that a Scania had given and how much more the fleet could improve.”
Chun sees no challenges but only opportunities in promoting the concept of TOE in the future. She said the future was already here – sustainability, urbanisation and digitalisation. These global trends fuelled the need for the best TOE. Any operation, especially in a congested urban area, would require all the digital technology to help maintain a sustainable operation for the best in moving people and goods reliably in the long term. Therefore, she pointed out that one had to have the right-specified Scania vehicle with the right Scania Maintenance regime, coupled with Scania Driver Training and Coaching based on the data from the Scania Fleet Management System.
Apart from TOE, she said the role of CFO was increasing complex. Alongside the traditional mandate to provide financial insights and analysis, today’s CFO was expected to have greater involvement in the setting up of strategies and operations as well as focus on driving the creation of value across the entire business.
“My immediate focus would be more on cross functional communication and motivating team members to enhance a well-functioning organisation. I would also focus on a proactive and accelerated approach to find a better way of capturing activities. To make change happen, I would have to repeat my message over and over again,” she revealed.
Sustainable Solutions Against the Odds
How would Malaysia’s slower economic growth and Ringgit depreciation affect the market and what would the company’s approach be? She replied that the business climate in the truck and bus market was volatile depending on the economic growth and government projects. In addition, the environmental awareness was getting higher and higher throughout the country.
“Scania is focusing on the shift towards sustainable transportation. To achieve this goal, we need to understand the day-to-day transportation and day-to-day challenges that our customers are facing and try to provide sustainable solutions. Without this knowledge, we could not deliver the total value of our products. We would continue to focus on helping our customers in maintaining and improving their profitability.”
Despite the current challenging economic environment, Chun remained optimistic that there would be steady growth ahead for the Malaysian truck and bus market, in line with the urbanisation, environmental challenges and increasing awareness of health and safety.
“The automobile industry has focused more and more on sustainable business goals and solutions, and Scania is in a strong position to lead in sustainable transport solutions. Our business in Malaysia has been developing in both truck and bus segments in a diverse and multicultural environment with differences in political systems, religion and culture. Our key challenge would be on how to manage the volume growth by balancing resources and profitability in the coming years. To contribute to the further development of Scania business in Southeast Asia, I would like to support our business process in a more systematic and efficient way to deliver profitability to our customers as a strategic business partner,” she concluded.
她意识到这是一个过程。她指出，有些运营者已经与斯堪尼亚建立了长期关系，也看到了斯堪尼亚的燃油经济和高出勤率。因此，他们知道能够从斯堪尼亚那里取得最佳的TOE。有的提出了有关TOE的询问 ，因为他们在这方面做得很好。而那些只在意前期费用的运营者， 正是斯堪尼亚分享TOE的目标。
她表示，除了TOE，首席财务执行员的角色已经变得愈来愈复杂。除了传统的财务见解和分析外， 今天的首席财务执行员往往被要求参与公司战略的制定和运营，以及推动整个业务的创造价值 。