(Mathematically astute readers pointed out we never finished the 12th post of our series. Our apologies).
Keep your contingency plan up to date is our 12th for 2012. After you have stopped rolling your eyes read on…it is a short blog post.
Volatility continues. Greek debt crisis – indeed- the European debt crisis continues to bear close watching and action. Currency risk. Country Risk, Counterparty Risk. Industry Risk confront most major organizations. At this point in time (since the beginnings of the financial crisis was four years ago) it is hard to keep making excuses for a lack of a plan or lack of significant progress on your activities to visualize and mitigate risks. Two simple points:
1. Have a Plan. Your plan should include a). visibility to your assets and exposures b). calibration of those exposures c). actions to mitigate or manage those exposures.
2. Execute on Your Plan. Please look at the lovely graphic provided as an example. Most firms have made significant progress with visibility (step 1) – [in fact our Fall Survey with Bottomline Technology indicated that those with visibility to all of their cash went from 40% to 60% between 2010 and 2011] and quite a few organizations have already completed the 2nd step. What is next? Where is your organization? Where should you be?
12 for 2012 Plans and Action
All plans need to be modified as events change. This reality is not, however, an excuse for no action/progress and a lack of contingency plans. Is your plan and progress on your plan up to date? Give us a call if you need to get current on your plans or progress on those plans +1 678.466-2220 or 2222.