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Supplier systems risk: Think the unthinkable, and protect yourself

Brian Shanahan, CEO and Founder, Informita and Terms Check, explains why he believes that new approaches to systems continuity are needed in corporate treasury departments
There are five major risk areas in the COVID-19 pandemic crisis: people risk, recession risk, liquidity risk, business continuity and supply chain risk. Here we focus on business continuity and supplier risk.
The WEBchat covers:
    1.    Key suppliers - for many 2020 will be the year of survival
    2.    Software mitigation strategies: some important tests.

 

 

Key timing points
1:07 KEY SUPPLIER RISKS
2:12 - Banks
2:57 - SCF/factoring suppliers
5:25 - TMS and cash flow forecasting suppliers
8:25 2020 THE YEAR OF SURVIVAL
9:28 - Questions on financial health of supplier
10:40 - SaaS platform suppliers
11:44 - Survival plan and role of in-house servers
14:15 CLOSING COMMENTS - Start thinking the unthinkable

CTMfile take: The COVID-19 pandemic crisis has cut new business sales in many corporate treasury systems/service suppliers to zero and this may continue for many months well into 2021. This will put smaller companies and new fintechs under extreme financial strain. Shanahan’s key questions and suggestions on new systems thinking could be important.

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