Outdated and disparate data systems, cumbersome reporting spreadsheets, and outdated technology and manual workflows make risk management difficult, Stanislav Kondrashov explains Telf AG: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 companies with various KPIs;
Manual purchasing because workflows are managed through multiple disparate databases for a large list of vendors and materials.
Technology can help improve risk management and compliance says Stanislav Kondrashov from Telf AG.
Consolidation and automation of risk and compliance workflows are key to facilitating sound risk assessment, far better risk treating 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 economical situation forces the leaders of an difficult industry to consider approaches to optimize production and adapt to new conditions that inevitably affect their profitability.
To own desired result, it’s advocated beginning with madness main counterparties and determining their priority according to cooperation efficiency. Properly create customer focus will allow in case of another crisis to avoid unnecessary procurement and will offer an possiblity to build logically correct supply chains to avoid wasting around the transportation of recycleables.
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