This week's "Friday Big So What" episode focuses on Predictability, with a quick look at why it's important, how it can put people at ease, and a review of what's entailed with creating it.
This week's Friday Big So What episode looks at "Possibilities" and how you can make them reality by leveraging concepts such as Design Thinking, The Art of the Possible and Zero-Based Design approaches. Learn how you can turn the current disruptive environment into real opportunities for change in order to maximize your possibilities in the post-COVID new normal.
Each Friday, I'll be sharing a new "Big So What" episode, which consists of a short (5 minute) discussion of observations on human behavior and directly relates these perspectives to real world challenges in optimizing your finance and business decisions.
This week's episode looks at "Choice" with a peek into how we can become blocked by too few choices or paralyzed by too many!
If you aren’t armed with with accurate and timely information, making the best business decision can be difficult. Our clients often come to us asking about how to enhance their way of doing revenue accounting processes, gain insights on profitability, track contract modifications and other areas to compete and win. The first phase is undertaking is a Health check that examines the organization, structure, and human factors in your solution implementation.
Banking connectivity provides an enterprise-wide foundation for security, completeness, accuracy, and timeliness of your data, along with delivering the insights and visibility to optimize daily cash positions. A fully integrated banking connectivity solution can provide you an insights into where your cash is and with whom and visibility to drive real-time cash positions and much more.
Treasury executives are facing an unprecedented confluence of challenges today, with no reasonable prospect that the massive waves of change will be easing up any time soon. In addition to the black swan event of a global pandemic that has literally shutdown economic activity in much of the world, companies are also dealing with other high volatility forces, such as the Russia vs Middle East oil production standoff and global currency fluctuations.
These and other related forces are combining to create significant new challenges for Treasury, which in turn is accelerating the already existing trend toward greater integration and interoperability of various treasury-related software applications. For example, management of cash positions, working capital and hedges against external risk factors are prime focus areas that can benefit from enterprise-wide visibility along with flexible analytics tools and agile response mechanisms.
Overall risk management entails these four key areas:
Security issues span all aspects of a business. For more info, watch the video of this webinar on Risk and Exposure. In this post, we are focused on three areas, Financial, Geo-political, and Business Continuity, all of which have significant relevance to enterprise-wide treasury integration.
Change has never happened this fast before, and it will never be this slow again. In today’s rapidly changing business environment, learning and sharing have never been more important. ASUGForward is designed to do just that—move us forward.
Treasurers spend their working lives trying to avoid or alleviate risk, looking ahead and planning for the ‘worst-case scenario’ – an idea that has been given new importance and urgency by the COVID-19 pandemic. A driving challenge in this setback for many businesses are to proceed with business as usual in a time when business is very unusual. For treasurers, the way to do this is to ensure that the data and information are readily accessible and reliable, especially pertaining to current and future cash flows.
