Bob Stark Offers Key Lessons for Navigating Bank Industry Chaos
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⇨ The recent collapse of Silicon Valley Bank and ongoing uncertainty is forcing SAPinsiders to evaluate the current and future state of finance and treasury operations
⇨ To gain insight on next steps for SAPinsider, we sat down with Bob Stark, Global Head of Market Strategy at Kyriba, to discuss how treasury teams can best prepare for uncertainty.
⇨ The Silicon Valley Bank's collapse can provide many lessons for organizations around enhancing business continuity, accelerating liquidity planning and management, and counter-party risk management.
This article discusses the recent collapse of Silicon Valley Bank and explores how the ongoing chaos in the banking industry puts pressure on organizations' finance and treasury operations. To gain insight on the next steps for SAPinsider, we interview Bob Stark, Global Head of Market Strategy at Kyriba, on how treasury teams can prepare for uncertainty. The conversation with Stark highlights key lessons for treasury teams, including enhancing business continuity, accelerating liquidity planning and management, and improving counter-party risk management.
Stark emphasizes the importance of business continuity in the wake of Silicon Valley Bank’s collapse, as organizations must ensure they can continue operating and growing even if they lose access to their primary banking relationship. He also stresses the need for liquidity planning and real-time liquidity planning to maintain control of cash and liquidity in the face of economic volatility or bank meltdowns. Finally, Stark discusses the importance of controlling counterparty exposure, which can help organizations better protect themselves.
Technology partners like Kyriba can offer tools and services that integrate with SAP environments and are designed specifically for treasury teams to understand their exposures better, thus enabling organizations to mitigate potential losses before they occur. SAPinsiders still have work to enhance areas like liquidity management, financial planning, and cash forecasting. This helps explain why the demand for insights and visibility from finance and treasury teams consistently emerges as the number one driver of strategic investments into finance technology and automation.