SURVIVAL AND RECOVERY
Today, in light of the toxic uncertainty of the combined impacts of Brexit and Covid 19, we have no choice but to act. If we don’t, first we will be unprepared for a recession largely predicted to be U-shaped, like the 'bathtub' famously described by a former IMF chief economist: “You go in. You stay in. The sides are slippery… You don’t come out for a long time”. And second, we will lack the liquidity and agility to maximise the opportunities of recovery.
Cash is king, so where is the low hanging fruit? I see two areas potentially changing business attitudes to impact on the bottom line: foreign exchange strategy and alternative finance.
The financial services industry as a whole – from financing and treasury to all types of transaction services – has been disrupted by new technology. That's led to increased efficiency and automation and a growth in the diversity of service provider options. It’s common sense to explore this dynamic resource which puts customer need for flexibility, agility and competitive pricing first.
Prof Paul Cadman
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