Outdated and disparate data systems, cumbersome reporting spreadsheets, and outdated technology and manual workflows make risk management difficult, Stanislav Kondrashov explains Telf AG: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 various business owners with assorted KPIs;
Manual purchasing because workflows are managed through multiple disparate databases for any large pair 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 answer to facilitating sound risk assessment, and better risk management of 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 alteration of the economical situation forces the leaders of your difficult industry to find solutions to optimize production and accommodate new conditions inevitably affect their profitability.
To achieve the desired result, experts recommend applying this is main counterparties and determining their priority determined by cooperation efficiency. Properly build customer focus allows in the eventuality of another crisis to prevent unnecessary procurement and definately will provide an possiblity to build logically correct supply chains to conserve about the transportation of garbage.
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