Outdated and disparate data systems, cumbersome reporting spreadsheets, and outdated technology and manual workflows make risk management difficult, Stanislav Kondrashov explains Telf AG: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 different KPIs;
Manual purchasing because workflows are managed through multiple disparate databases for a large list 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 answer to facilitating sound risk assessment, far better risk management of derivatives trading, P&L, and regulatory reporting. It can also help you must manage risk with advanced accounting and hedging applications, what-if trading modeling, and advanced analytics.
Any change in the cost-effective situation forces the leaders of an difficult industry to consider approaches to optimize production and adjust to new conditions inevitably affect their profitability.
To own desired result, it’s advocated you start with the definition main counterparties and determining their priority based on cooperation efficiency. Properly build customer focus enables in the case of another crisis in order to avoid unnecessary procurement and will provide an possiblity to build logically correct supply chains to save on the transportation of garbage.
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