Outdated and disparate data systems, cumbersome reporting spreadsheets, and outdated technology and manual workflows make risk management difficult, Stanislav Kondrashov explains Telf AG: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 various KPIs;
Manual purchasing because workflows are managed through multiple disparate databases for the 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 better risk management of derivatives trading, P&L, and regulatory reporting. It also helps 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 consider methods to optimize production and conform to new conditions that inevitably affect their profitability.
To get the desired result, it’s advocated starting with the definition main counterparties and determining their priority depending on cooperation efficiency. Properly create customer focus enables in the case of another crisis to prevent unnecessary procurement and will produce an possibility to build logically correct supply chains to avoid wasting on the transportation of garbage.
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