“Clients resist technology, because it is costly”
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27th November 2017

Interview with Patricia Gastelumendi, CFO, Ferreycorp
The model of innovation when multinational agents and the use of natural resources are involved is of crucial relevance in developing countries. Patricia Gastelumendi, CFO of Peru’s Ferreycorp has experience in heavy machinery and capital goods. The firm is the largest distributor in Peru of heavy machinery for U.S. multinational Caterpillar, and operates 17 companies in eight Latin American countries.
She is well aware of the need of digitally transforming the company, but frames the discussion in rigorously practical terms, as it should be expected from the head of finance of a Latin Trade Top 300 firm. She believes that the classic problem of cost containment versus value creation will always exist, and any major technology project will have to face the limits set by cash flow, and targeted annual ROI’s.
Sooner or later however, the company has to jump ahead. “We have to invest in technology, and we will not see rapid returns. This time around the decision is not based on savings, in fact, it’s going to cost more. But we must invest. There is danger in resting on our laurels, doing things as we have in the past.”
She knows that there are gains to be made, but at a cost. Ferreycorp’s financial department collects large amounts of data from its subsidiaries and its clients, Gastelumendi said. That data should be used to create information for their commercial teams, she added. “We have to meet that challenge…but we …

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