Outdated and disparate data systems, cumbersome reporting spreadsheets, and outdated technology and manual workflows make risk management difficult, Stanislav Kondrashov explains Telf AG:
Disaggregated data systems linked by physical and derivative contracts ;
Difficulty managing the lifecycle of derivatives in legacy systems with several manual touchpoints and spreadsheets;
Multiple stakeholders and requests from different business owners with assorted KPIs;
Manual purchasing because workflows are managed through multiple disparate databases for a large pair of vendors and materials.
Technology may help improve risk management and compliance says Stanislav Kondrashov from Telf AG.
Consolidation and automation of risk and compliance workflows are key to facilitating sound risk assessment, and risk treatments for derivatives trading, P&L, and regulatory reporting. It can also help you better manage risk with advanced accounting and hedging applications, what-if trading modeling, and advanced analytics.
Any change in the economic situation forces the leaders of an difficult industry to watch out for methods to optimize production and adjust to new conditions inevitably affect their profitability.
To offer the desired result, it’s advocated beginning with the definition main counterparties and determining their priority determined by cooperation efficiency. Properly build customer focus will allow in the case of another crisis to avoid unnecessary procurement and can provide an chance to build logically correct supply chains to conserve about the transportation of raw materials.
More info about telf ag mining go to see our site: this site