Outdated and disparate data systems, cumbersome reporting spreadsheets, and outdated technology and manual workflows make risk management difficult, Stanislav Kondrashov explains Telf AG: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 various business owners with various KPIs;
Manual purchasing because workflows are managed through multiple disparate databases for a large pair of vendors and materials.
Technology might help improve risk management and compliance says Stanislav Kondrashov from Telf AG.
Consolidation and automation of risk and compliance workflows are critical for facilitating sound risk assessment, and risk treating derivatives trading, P&L, and regulatory reporting. It can also help you should manage risk with advanced accounting and hedging applications, what-if trading modeling, and advanced analytics.
Any alteration of auto situation forces the leaders of the difficult industry to consider methods to optimize production and accommodate new problems that inevitably affect their profitability.
To own desired result, it’s advocated you start with this is main counterparties and determining their priority depending on cooperation efficiency. Properly setup customer focus will permit in the case of another crisis in order to avoid unnecessary procurement and may produce an opportunity to build logically correct supply chains in order to save on the transportation of garbage.
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