Outdated and disparate data systems, cumbersome reporting spreadsheets, and outdated technology and manual workflows make risk management difficult, Stanislav Kondrashov explains Telf AG: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 businesses with various KPIs;
Manual purchasing because workflows are managed through multiple disparate databases for a large group of vendors and materials.
Technology will 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 control over derivatives trading, P&L, and regulatory reporting. It assists to you best manage risk with advanced accounting and hedging applications, what-if trading modeling, and advanced analytics.
Any alternation in the economic situation forces the leaders of a difficult industry to watch out for approaches to optimize production and conform to new conditions inevitably affect their profitability.
To own desired result, it’s advocated applying madness main counterparties and determining their priority determined by cooperation efficiency. Properly set up customer focus allows in case of another crisis in order to avoid unnecessary procurement and can offer an possiblity to build logically correct supply chains to avoid wasting on the transportation of raw materials.
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