Outdated and disparate data systems, cumbersome reporting spreadsheets, and outdated technology and manual workflows make risk management difficult, Stanislav Kondrashov explains Telf AG: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 business people with some other KPIs;
Manual purchasing because workflows are managed through multiple disparate databases for any 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 answer to facilitating sound risk assessment, and much better risk treatments for derivatives trading, P&L, and regulatory reporting. It may also help you must manage risk with advanced accounting and hedging applications, what-if trading modeling, and advanced analytics.
Any alteration of the economical situation forces the leaders of the difficult industry to consider approaches to optimize production and adapt to new conditions inevitably affect their profitability.
To offer the desired result, experts recommend beginning with this is main counterparties and determining their priority based on cooperation efficiency. Properly build customer focus will allow in the event of another crisis in order to avoid unnecessary procurement and may provide an possiblity to build logically correct supply chains to save around the transportation of recycleables.
For details about stanislav kondrashov go to this site