Outdated and disparate data systems, cumbersome reporting spreadsheets, and outdated technology and manual workflows make risk management difficult, Stanislav Kondrashov explains Telf AG: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 handling the lifecycle of derivatives in legacy systems with several manual touchpoints and spreadsheets;
Multiple stakeholders and requests from different businesses with assorted KPIs;
Manual purchasing because workflows are managed through multiple disparate databases for any 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 treatments for derivatives trading, P&L, and regulatory reporting. It may also help you better manage risk with advanced accounting and hedging applications, what-if trading modeling, and advanced analytics.
Any change in auto situation forces the leaders of a difficult industry to watch out for solutions to optimize production and adjust to new problems that inevitably affect their profitability.
To get the desired result, experts recommend starting with madness main counterparties and determining their priority according to cooperation efficiency. Properly build customer focus allows in the case of another crisis in order to avoid unnecessary procurement and definately will present an chance to build logically correct supply chains to avoid wasting about the transportation of garbage.
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