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Operational Resilience - Emerging Insights from 100 days of COVID-19 lockdown
Operational Resilience - Emerging Insights from 100 days of COVID-19 lockdown
COVID-19 for most businesses felt like a Black Swan event. Even their Business Continuity Plans (BCPs) were impacted as practically most did not address the nature of lockdown or stay-at-home policies that were enforced globally. Whether business scrambled or had a relatively smooth sailing, we were keen to see if the 100+ days of lockdown due to COVID-19 highlighted an area of operational risk that were either new or an existing risk area that took on a significant proportion. So, we asked our clients, vendor partners, and consulting partners one question:
“In the past 3 months, as you transitioned to work from home, what was one key operational risk that was amplified or newly discovered?”
And what we found was a story of Operational Resilience. READ ON.
AXCELERUS_Operational Resilience_v01.pdf
Adobe Acrobat document [1.4 MB]
COVID-19 for most businesses felt like a Black Swan event. Even their Business Continuity Plans (BCPs) were impacted as practically most did not address the nature of lockdown or stay-at-home policies that were enforced globally. Whether business scrambled or had a relatively smooth sailing, we were keen to see if the 100+ days of lockdown due to COVID-19 highlighted an area of operational risk that were either new or an existing risk area that took on a significant proportion. So, we asked our clients, vendor partners, and consulting partners one question:
“In the past 3 months, as you transitioned to work from home, what was one key operational risk that was amplified or newly discovered?”
And what we found was a story of Operational Resilience. READ ON.
AXCELERUS_Operational Resilience_v01.pdf
Adobe Acrobat document [1.4 MB]
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New Blog: Drive safe to #Sturgis!
Drive Safe to #Sturgis!
Prashant Shah (Aug 11, 2018)
The past weekend, I was fortunate to take a road trip from Denver to Yellowstone to Devil’s Tower to Mt. Rushmore. One common message I saw was “Drive Safe to Sturgis” and one common sight were the numerous bikers on the road. Not being into motorbikes and not knowing the history of the #SturgisRally, I could not understand the message. Spotty cell reception meant I could not search about Sturgis. If I had known before I planned my trip, I would have carved out an extra day to experience the Sturgis Rally.
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Webinar: Smart Commodity Management
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Optimize Your Agriculture Supply Chain with Smart Commodity Management |
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Tuesday, July 22, 2014 | 11:00-11:45am EDT |
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Is your outdated or spreadsheets-based system hindering you from
more efficiently managing operations and growing your business? |
More details in our "Upcoming Events" section
What's new? Check out our latest blog: "Transforming Risk" at axcelerus.wordpress.com
Transforming Risk
Tags: Business, CTRM, Energy, ETRM, Oil & Gas, Risk Management, Trading, Uncategorized;
Recently we have had discussions with different clients on improving the risk function. While each approached the issue from their unique perspective, the underlying need relates to strategically transforming aspects of their risk function.
What were the challenges these clients were facing?
- “My CRO seems to be spending too much time chasing data rather than doing analysis and proving insights.”
- “Our counterparty proposed a modification to our plain-vanilla options. We are unsure how to value it.”
- “I have 4 analysts who are spending 1.5 to 2 hours each to generate my end-of-day P&L report. How do we improve the efficiency of the process?”
- “How do we improve the confidence in our energy/ commodity trading and risk management (E/CTRM) system generated risk measures?”
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Spotlight: Advisory Services
We offer a set of strategic services targeted at the management level:
- Risk and Compliance advisory for the energy & commodity
markets:
- Risk Assessment
- Risk Management Policies and Procedures
- Risk Metrics, KPIs and Reporting
- Quantitative Modeling
- Dodd-Frank Compliance, including Trade Surveillance and Monitoring
- Defining IT Strategy
- Developing IT Roadmaps to support Business Strategies
- Defining a relevant ETRM EcoSystem TM
- Application Rationalization (AppRat)
- Merger & Acquisition services
- Pre-M&A Due-Diligence
- Post M&A Integration
- Defining a Target Operating Model
- Business Process Redesign
Webinar: Unlocking the potential of the CTRM-ERP relationship
Webinar Date: 27th February 2014 at 11:00 AM EST
Appropriately managing commodity risks can be a source of competitive advantage. Technologies continue to improve to help manage the increasing risks and volatility inherent in today’s global commodity markets and global distribution networks. Maximizing profits requires tighter, faster interaction across the organization, better risk and data analytics, and near real-time data availability; which is why leading commodity-based companies are updating, improving, and integrating their tools and systems to serve their procurement, logistics, trading, and hedging functions together.
This webinar will help you understand the differences, benefits and trends in Commodity Trading/Risk Management (CTRM) and Enterprise Resource Management (ERP) solutions and how these technologies can work together to make your organization a better commodity markets participant.
Discussion Points include:
- Challenges and risks in today’s commodity value chain
- The differences between CTRM and ERP
- Leading practices in leveraging CTRM and ERP functionality to maximize their potential in managing commodity risks
For more details, including viewing a recording of the event, see the "EVENTS" page.
What's new? Check out our latest blogs: axcelerus.wordpress.com
The Case for Independent Verification and Validation (IV&V)
January 8, 2014; Tags: AXCELERUS, Business, CTRM, Energy, ETRM, Oil & Gas, Risk Management, Trading, Commodity, CTRM, E/CTRM, Energy, ETRM, governance, Information Technology (IT), IV&V, PMO, progress, projects, Risk, Trading, Validation, Verification.
The concept of Independent Verification and Validation (IV&V) is not new and is generally understood as part of any significant IT projects. Many firms employ it, especially in mission critical projects. In addition, the service is commonly used when things are going, let’s say, south. However, in the Energy/Commodity Trading and Risk Management (E/CTRM) industry, IV&V is few and far between when it comes to E/CTRM implementation, upgrades and system integrations.
Why is it so?
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Happy Holidays from AXCELERUS team. Wishing you happiness, prosperity and peace this holiday season and throughout the coming year.
Fresh off the Press: Check this out! Our article in the Oil & Gas Financial Journal (Oct 2013).
Check out this article in the Oil & Gas Financial Journal
(Oct 2013 issue)
Bringing Strategy Back
Summary:
Customization can increase implementation costs while offering limited competitive advantage to the user.
.... It appears with the increase in the apparent maturity of ETRM systems, the degree of customizations have also increased. And it is an area where focus has been limited. The reason is not that business and information technology managers are unconcerned about customizations – in fact, they are very concerned – but they often neglect one key area of focus – competitive advantage.
What's new? Check out our latest blogs: axcelerus.wordpress.com
Navigating the E/CTRM EcoSystemTM
When was the last time you thought of an ecosystem? Specifically, an energy/ commodity transacting and risk management (E/CTRM) EcoSystemTM?
Usually, for most business and information technology (IT) personnel involved with E/CTRM, the thought of E/CTRM as part of a broader ecosystemis an after-thought. Their focus may primarily be on implementing an E/CTRM solution for a specific business need. This siloed approach often ignores the wider organizational E/CTRM EcoSystemTM. The result can be a complex, sometimes redundant web of IT systems.....
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Shale Gas Conundrum – Low Natural Gas Prices!
Feb 25, 2003: 18.48; Dec 15, 2005: 15.39; June 19, 2008: 13.09; Aug 17, 2012: 2.7; July 2, 2013: 3.58
Good News: Natural Gas Prices are low!
Bad News: Natural Gas Prices are low!
Confused? You’re not alone; there are enormous, opposing, marketplace agendas at stake on both sides of the current and forecasted US gas price situation. While the industry may tout the benefits of low natural gas prices to the consumers and other stakeholders, they are also worried about the long term impacts of low natural gas prices which has already started to turn away investors and depress normal cycles of exploration and production. Go to any natural gas industry conference and the talk is largely about “unsustainable” low natural gas prices and need to increase demand and thereby prices. Looking back 5 years ago when gas prices spiked at above $12 and now with sub-$4 prices, how the times have changed!
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