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-- Procurement has stepped out of the shadows. What was once a tactical back-office function focused solely on cost-cutting is now a central force in driving business resilience, innovation, and sustainable value . This transformation is powered by technologies enablers  like AI, predictive analytics, intelligent ERP, robotic process automation (RPA), and more. Today, leading organizations are moving rapidly through the stages of procurement maturity, evolving from reactive buying to data-driven value creation. At Finsys Consulting , we demonstrate how digital transformation is enabling this shift and what the future of procurement looks like . The Four Pillars of Modern Procurement Maturity The digital procurement journey isn’t about a one-time system upgrade, it’s a staged evolution. Companies progress through phases: from basic digitization (e.g., e-sourcing tools) to full-scale transformation involving predictive analytics, real-time data integration, and AI-powered decision-making. We believe that organizations committing to this digital journey experience procurement cost reductions  of 5-10%, supplier consolidation, and up to 80% faster transaction cycles. The shift requires strong leadership, agile teams, and a commitment to continuous improvement. To progress from tactical procurement to strategic value delivery, organizations must mature across four interdependent areas: Strategy & Governance People & Capability IT & Process Systems Performance & Monitoring Let’s break down each pillar by identifying current challenges, digital opportunities, and the real-world impact of technology. Strategy & Governance The Challenge Many procurement teams operate in silos, disconnected from corporate strategy. This misalignment limits their influence and leaves them reactive to business needs instead of helping shape them. Risk management is often fragmented, and sustainability goals are under-addressed. Digital Opportunity AI and predictive analytics offer powerful tools for real-time scenario modelling, category risk identification, and strategic alignment. Intelligent ERP systems now integrate procurement data directly into broader business intelligence platforms. For instance, provider build Business Spend Management platform and Community.ai that allow procurement to benchmark performance and make data-backed decisions that align with company goals. Strategic Impact Closer alignment between procurement and enterprise priorities Faster, more informed sourcing decisions Greater visibility into category and supplier-level risk Case Insight A global insurance provider integrated an AI-driven category management solution that tracked legal and financial vendor contracts across regions. With predictive analytics, they flagged renewal risks and regulatory gaps three months in advance, helping reduce non-compliance incidents by 40%. People & Capability The Challenge Procurement roles are rapidly evolving, but many organizations lack the digital talent and training programs needed to support this change. Repetitive tasks continue to dominate daily operations, leaving little room for strategy or innovation. Digital Opportunity With automation and AI assistants, procurement teams can offload low-value tasks and focus on higher-impact work. Online learning platforms with digital skill assessments, help teams grow in real time. At Finsys Consulting, we highlight that top procurement organizations create digital command centers, repurpose operational buyers into value-generating roles, and use agile methodologies to iterate quickly. Strategic Impact Reduced burnout and turnover Increased employee effectiveness and satisfaction Strategic sourcing becomes the norm, not the exception Case Insight A multinational bank rolled out a procurement chatbot that helped its sourcing team handle contract queries and compliance checks. This freed up 20% of the team's time, allowing strategic buyers to focus on onboarding fintech innovation partners. IT & Process Systems The Challenge Legacy systems and disconnected platforms lead to long cycle times, redundant processes, and poor user experience. In many companies, critical activities like Purchase Request to Purchase Order still rely on manual entry and email chains. Digital Opportunity We believed that Unified procurement platforms (e.g., SAP, Oracle,…), now embed with AI and RPA across sourcing, contracting, and payment functions. These platforms enable touchless transactions, real-time collaboration with suppliers, and automated risk checks. Digital tools can reduce procurement processing times by up to 80% for simple items and 40% for complex purchases. Strategic Impact Processes that used to take days, like submitting and approving purchase requests or timesheets are now completed in hours or less Real-time visibility into procurement operations Better supplier collaboration through shared systems and portals Better Financial Overview Case Insight The European Investment Bank plan on automate its consultant timesheet process using Microsoft Power Platform and AI validation. Manual reviews and back-and-forth approvals will be replaced by AI-powered checks and workflows built with Power Automate. Time entry processing will be reduce from 4 business days to few hours per cycle, improving accuracy and accelerating vendor payment cycles. Performance & Monitoring Improvement The Challenge Procurement performance is often measured too narrowly or too late. Many teams struggle with lagging KPIs, isolated data, and a lack of feedback mechanisms to guide continuous improvement. Digital Opportunity AI and predictive analytics offer real-time, forward-looking insights. Tools like Microsoft Power BI and the Microsoft Power Platform provide procurement teams with customizable dashboards and automated workflows that enhance visibility and responsiveness. Power BI enables real-time reporting and drill-down analysis of supplier performance, spend patterns, and savings opportunities. Meanwhile, Power Automate and Power Apps help streamline manual review processes and connect disparate systems, improving both speed and control. Community-powered benchmarking tools (Coupa’s Community.ai ), enable companies to compare themselves against thousands of peers. Cognitive agents and bots flag anomalies, suggest improvements, and even preempt risks. At Finsys Consulting we help companies to digitize performance management by automatically extract KPIs, allocate procurement savings across business units, and align procurement metrics to P&L performance. Strategic Impact Continuous tracking of savings, compliance, and supplier performance Stronger internal reporting and transparency Proactive risk management and cost containment Case Insight A European reinsurance group implemented AI to monitor vendor payment behaviours and invoice variances. Within six months, it identified and corrected over €1 million in billing discrepancies and generated supplier scorecards to improve accountability. Digital Procurement Stack: Core technologies Here’s how core technologies fit into the procurement transformation: Maturity Levels of Procurement Technologies From Operational to Strategic: Procurement’s New Role Modern procurement is not just faster, it’s smarter. By embedding intelligence, agility, and automation into its core, procurement shifts from being a cost controller to a strategic business partner . At the highest maturity level, procurement teams: Anticipate demand through predictive analytics Collaborate with suppliers to co-innovate Mitigate ESG and financial risks in real time Automate operational tasks, focusing human capital on value creation This is the new standard of procurement: intelligent , predictive , and deeply embedded in business success . Final Thoughts Digital transformation in procurement is no longer optional. Companies that embrace AI, RPA, and intelligent systems today will define tomorrow’s best practices . To stay ahead, we at Finsys Consulting, we believe that organizations must: Align procurement with business strategy Invest in digital talent and tools Unify systems and processes Continuously measure and improve performance The future of procurement it’s dynamic , data-driven , and designed for impact .

-- Across Europe’s financial landscape, operational excellence has evolved far beyond cost-efficiency and error reduction. In financial centers, it’s now about agility, innovation, and digital security . Driven by changing client expectations, regulatory frameworks such as DORA , and growing fintech competition, institutions are embedding   AI, automation, cloud, and cybersecurity into their operational fabric. We, at Finsys Consulting, help these organizations to move from reactive to proactive by building systems that are not only efficient, but adaptable and secure by design . Operational Excellence for better decision making Too often, we see organizations relying on outdated systems that has been patched over time but never truly integrated. These legacy processes slow down innovation and block visibility. These bottlenecks are holding institutions back from competing with digital-native challengers. That’s why Finsys Consulting emphasizes digital maturity as the new standard for operational excellence . We work hand-in-hand with clients to modernize not just the technology enablers, but also the people and processes surrounding it. This means empowering cross-functional teams to make better decisions, faster, whether in a retail and wealth management office or European Institutions in Luxembourg. For example, by integrating AI-driven analytics, institutions can gain real-time insights into market trends, customer behaviours, and operational inefficiencies. This allows for   data-driven decision-making  that is both swift and accurate, ensuring that businesses can adapt to changes in the market landscape with agility. AI: From Insight to Execution AI is reshaping decision-making across the sector. Financial industries are deploying machine learning for real-time credit risk modelling, fraud detection, and automated investment strategies. In Luxembourg, we’ve   helped firms apply AI to operational areas like investment compliance, data reconciliation and procurements checks . These systems reduce manual work and increase both speed and accuracy. For instance, AI-powered tools can automate the reconciliation of financial data, ensuring that discrepancies are identified and resolved promptly, thereby  enhancing operational efficiency . We’re particularly excited about AI’s dual advantage: it not only boosts back-office productivity but also enhances client experiences. From smart chatbots to personalized financial planning tools , AI is transforming how institutions serve their customers with less effort and greater impact. Moreover, the implementation of  trustworthy AI technologies  is crucial. These systems are designed to be  secure, reliable, and transparent , ensuring that AI applications are both effective and ethical. For example, supervised learning algorithms can be used to monitor and control AI outputs, providing a layer of oversight that ensures compliance with regulatory standards. At Finsys Consulting, we apply a comprehensive methodology to ensure   AI security and effective data management for our clients. For instance, by implementing AI to monitor network activity, detect anomalies, and prevent unauthorized access. Theses system uses machine learning to analyse vast amounts of data, providing clients with real-time control over their data and enhancing security measures. By leveraging AI, clients can gain more control over their data, ensuring that it is securely stored, accurately processed, and readily accessible for decision-making . This approach not only improves operational efficiency but also builds trust with customers by safeguarding their sensitive information. Digital Journeys and Strategic Integration Today’s clients want speed, personalization, and reliability across platform   (mobile, web, cloud, server and in-person touchpoints). We help firms map digital journeys that are intuitive, secure, and deeply connected  to back-end operations. Technology alone doesn’t drive change. That’s why we work on every layer, from defining digital strategy and governance to rethinking delivery models. By aligning tools, teams, and objectives, we help our clients create systems that are not just functional but transformative . In every project, our goal is simple: connect the right technologies with the right business outcomes . For instance, integrating cloud-native solutions can provide scalability and flexibility, allowing businesses to  adapt quickly to changing demands . Empowering Financial Institutions Operational excellence has entered a new era. European financial institutions are no longer asking if they should digitalize, but how fast, how securely they can do it . At Finsys Consulting, we believe the future belongs to those who blend smart technology with strong execution . That means   cloud-native systems, intelligent automation, secure AI-powered workflows to create   adaptive, scalable and resilient businesses . In a world where agility and trust define success, we are proud to help our clients lead .

Combine technology with new business models to become profitable and sustainable. Implementing sustainable business models creates new ways to create competitive advantages. Going green allows organizations to cut down their energy consumption, in the process becoming less exposed to hectic energy price fluctuations and government regulatory changes (emission caps and taxation) aimed to discourage emissions. Notably, early adopters will practice business in ways that are positive for the environment by cutting emissions and implanting sustainable business models. During the “green shift” these organizations will be promoting new opportunities for differentiation as well as creating new markets through the deployment of new ideas, new ways of working and new innovations. However, championing change to promote sustainability is a lot easier to agree with than it is to execute. Therefore, Finsys based on the sustainability experience of market leaders has found that a focus on new technologies and how these technologies interact with business models is vital for success. New Technologies product The development and introduction of new technologies will force a reimagining of every stage of the product life cycle. These new technologies will bring with them new ways of working as well as new value generators at every level from R&D, Input, Manufacturing, Utilization and End of Life. The businesses that fully realise the potential new technologies bring will be the ones that will reap the most rewards. R&D Research and development is used to advance future goals of a company through creating new solutions and addressing new opportunities. This is traditionally a time consuming and financially costly process involving prototyping and testing to gain new understandings. However, with the implementation of AI and computing it becomes possible to virtualize segments if not the totality of test builds. Enabling, more insights to be made without the need for real world tests, reducing time and costs. Inputs Inputs are the materials and elements used to create an end good. Technology can change the fundamental essence of materials using chemistry and biology. Through technological manipulation it becomes possible to enhance the potential and viability of new materials over natural ones. This has the primary aim of increasing compatibility, reducing costs, and improving efficiency. However, depending on companies, objectives may also be used to make sustainable alternatives more viable and reduce dependence on specific materials. Manufacturing The process of creating goods is manufacturing. New technologies in robotics and AI will enable manufacturers to explore new ways to cut down costs (that do not involve economies of scale). Theses technologies allow for manufacturing closer to the consumer at more reasonable costs with less negative environmental impact. Robotics makes localized supply chains become affordable, reducing the reliance on high-volume outsourced manufacturing. Utilization Utilization is the way the final product is effectively and actively used. By creating modular end goods, the effectiveness of induvial products to address more issues increase. This in turn increase both the end value of the good but also its environmental positive impact by reducing waste. End of Life Cycle The end-of-life cycle is the point where the process and the final goods intended functionality has ended. Through more advanced recycling it becomes possible to convert the end good back into material inputs. Additionally, better R&D with the use of AI will allow for products to be designed with the intent to be reused and repurposed with sustainably in mind. Technology to enhance the Business Model Innovation will spark the new forms of technology needed to radically adapt the business models of the future to become more environmentally positive whilst generating more value. These industry spanning changes will impact every level of a business by relying on shareability, consumer involvement, product performance and virtualization. Shareability and Durability. Creating longer lasting products allows for business to gain more value overtime by upselling additional services later. These offerings can include, repair services, upgrading services and/or other creative ways to add value over time. By viewing a product as a service, it extends its lifetime reducing waste. Customer. Pro consumer products prioritize the value given to and the experience had by the consumer. These types of products will be of higher quality and have a relatively lower price. Helping consumers affordability utilize the same products for longer to cut down on waste. Additionally, by focusing on providing ease to recycle goods, organizations will be simplifying the process for consumers to act green. Product. Additional value can be introduced to products by including green value and meeting consumer priorities. By focusing on defining and outlining value forms expected by buyers it becomes easier to achieve and deliver results. Virtualization. New forms of value can be created online by offering consumers new experiences. As projects such as the Metaverse and online games that have a strong social focus increase in popularity, ways to personalize experiences will offer more value to consumers. These virtual goods can even offer the same value as real-world luxury goods conveying status, individuality, fun, desirability and belonging to a group. All virtual goods have the ability to generate value without creating environmental costs. Finsys Four Steps It is not an easy task to outline ways for organizations to achieve sustainable business models using technology. Yet, Finsys has been able to put together a list of four initiatives that can be undertaken by any business that wishes to go green. Clear Baseline To understand how much has been achieved and what is yet to be done metrics are invaluable. However, these progress measurement tools are only useful with clear baseline to act as a starting point for data analytics. Leverage Opportunities The key is selecting to peruse the opportunities that will add the most value and are the most realistically accomplishable. To determine the viability of an opportunity, consider which are easy to implement? Which are easy to do? Which will have the biggest impact? Which require longer term funding? And which require development outside of the core business? Define Portfolios As markets and industries continuously adapt the risk of failure increases with the ability to capitalizes on new opportunities. Have a well structured and diverse portfolio will help mitigate risks as leadership explores numerous ideas that could lead to new breakthroughs and innovations. New Operating Models By pushing the horizon for what’s operationally possible companies can reach new peaks with new business models. Theses breakthroughs will stem form technological advancements that create new operational efficiencies. As ways of working become more efficient they will need to become faster, more agile, and leaner to fully capitalize on technology, requiring a total rethinking of how to work.

Retailers need to understand the consumer, provide them with relevant promotions, and use strategic pricing. This year’s holiday season is plagued with low consumer confidence and market uncertainty. It will be a challenge for retailers to provide enough incentive for consumers to want to shop at typical Christmas volumes. This is particularly problematic for business dealing with high levels of inventory. The retailors that come out on top with a successful pricing strategy will have to brave inflation, use selective price increases, and enable targeted promotions. Brave Inflation Higher inflation rates create multiple pressures for retailers; pressure from consumers who demand low prices, employees who wants competitive wages, and shareholders who want profitability. However, the primary obstacle is to outperform competitors despite inflation by generating value for consumers. The aim is to outlast inflation until better market conditions return by developing a strong competitive advantage. When consumers become financially uncertain, and their patterns are disrupted they reduce their brand loyalty in favour of receiving a competitive value offering. This presents hungry firms with the ability to pay attention to the customers shifting needs and attune their offerings to remain relevant. This takes the form of taking consumers away from competitors and keeping customers loyal through “keep and steal” strategies. Firstly, to keep customers organizations must leverage business intelligence to understand their current customers’ needs as they no longer can justify expenditure on wants. Additionally, to steal customers companies must catch the attention of churning customers belonging to the competition, enticing them over by listening to why they left and giving them what they need. Pivotally to brave inflation organizations must ensure that their customers feel valued and that they individually matter to the business, this generates higher levels of loyalty. Additionally, to create a competitive advantage Finsys has identified that consumers need to be offered more value for money. The secret is employing agile pricing strategies including sales, discounts, promotions, etc. Yet, the most important element of a good pricing strategy is to ensure its relevancy and impact on the consumers who receive it. Selective price increase Selectively curating pricing can aid consumers in their decision-making processes. Anytime a consumer looks at a price tag they are either price incentive, very price sensitive or quality focused. This means that shoppers can be expected to act within the description that best fits them as defined bellow; Price Incentive consumers are willing to purchase a good at any price regardless of quality. Price Sensitive consumers prioritize paying the least possible for their goods, Low Price > Quality. Quality Focused buyers only care about the quality of a product or service, Quality > Price. The entire mental debate is about price vs quality, with goods of the highest quality being immune to price comparison as these goods are simply purchased by people that only demand the best. Yet, Finsys points out some simple ways to price for a desired effect. - Increasing the selling price on goods that are bought by price insensitive consumers will positively increase margins without changing sales volume. - Increasing the sales price of a midrange product will make price sensitive consumers look for budget alternatives and quality focused buyers explore higher end options. This will have the impact of clearing more budget and high-end inventory as consumers will feel like they are receiving a better deal at both extremes. Consider, a Christmas tree seller has three trees, small (10), medium (20), and large (30). If the price of the medium tree was raised to 25 dollars, more buyers will be willing to buy the large tree for 5 extra dollars or a smaller tree to save 15 dollars. - Reducing the sales price of basic goods can help get more people in the door to see promotions and encourage impulse purchases. - Promoting holiday goods and items can help communicate to consumers that the business they shop at, cares about them enjoying the holiday season. This is valuable as it demonstrates a sense of shared loyalty to the consumer by pricing for the economic climate. These points showcase how pricing can be used to shift consumer perceptions and move them towards buying good they typically would not consider to aid in the clearing of relevant inventory. Targeted promotions Selectively curating retail prices and using strategic promotions retailers can gain the attention of existing and new consumers. The importance is manifesting a sense of holiday joy for shoppers to encourage more spending despite higher costs for the seller and buyer alike. Due to generally increased costs relevant to inflation most business must increase profits by becoming more creative if they wish to benefit the traditional Christmas shopping boom period. One way to achieve this is through targeted promotions, by listening to the consumer retailers can discount what is in demand to get them in the door. Enabling for complimentary sales tactics, promotion of higher margin goods/services, encouraging impose purchases and more. This provides an avenue for hungry business to employ discounts based on what their consumers are telling them. Consider, discounting popular items, over-stocked goods, and items your competitors are using to draw in more customers. By not engaging in blanket sales and instead selecting what is being discounted, consumer choice is removed, sale predictions become more accurate, and it becomes easier to directly out price chosen competitors. These target promotions aid in bringing in new people and giving exactly what loyal customers want at a price they like. How Finsys is building loyalty for the holiday Finsys helps retailers stand out with three tips to take advantage of the Christmas shopping season. 1. Entice early shoppers with exciting discounts on high inventory items. Besides helping clear excess inventory early promotions also provide additional benefits. Starting targeted pricing tactics early for the holiday season in November is advantageous for businesses. Namely, these discounts serve to reward early shoppers, make price conscious buyers feel valued and provide time to adjust strategies based on results. Aiding in the ability to get more people excited about a specific retailer sooner with enough time remaining to shift tactics during the ramp up to the holiday season. Retailers can create consumer satisfaction by offering flexible promotions aimed at building loyalty. 2. Engage customers with holiday-centric promotions. True customer interest in a promotion result in items going from being a curiosity to a becoming a purchase. Taking this to the next level is placing promoted items in locations to create a festive connection with the customer, for example selling Christmas decorations next to candy. The aim of the retailer is to highlight the added value these additional products through showcasing how the items can enhance the buyers holiday experience. Doing this well and in a productive manner creates more loyal Christmas shoppers as they associate the retailer with the holiday. 3. Generate loyalty through personalized promotions. Despite reduced prices helping bring consumers through the door, good retialers will personalize their promotions to create a memorable and existing experience for their shoppers. What makes a promotion personal? - It’s when promotions are made to be directly relevant to the most consumers/viewers of a given advertisement at once. This is accomplished using statistics and data about consumers. Why not tailor ads and promotions to every individual? - Without the use of AI and deep tech to create an ad or promotion for each person based on data marketers are left to make one generic add and pair it is using data with the highest number of relevant people based on data points. Strong personalized promotions are designed to engage the most consumers by creating ads/promotions that feel personal to the most people. This could include an advent calendar featuring a new daily sale or discounts based on how much a customer has spent. Going beyond this is to ensure a strong understanding of who the shoppers are and what they want, to position the best deal and most notable promotions where they will easily see it. Helping them feel more connected to the store and its promotions as they will be of more interest to the most consumers.

Going green is the new gateway to unlocking another competitive advantage. Efforts to do business in an ethical and environmental fashion is the key to developing a suitable and prosperous future. Decarbonization commitments and government regulations keep tightening, resulting in the inevitable outcome that organizations must adapt to not be left redundant. However, for forward thinking business leaders these changes present tremendous opportunities and new horizons for ethical business practices. In essence allowing for the simultaneous creation for business value and environmental positive impact. Finsys has made note of three predominate current climate topics worth thinking about. 1. The Energy Crisis The number of organizations taking part in eco-friendly activities is increasing daily. Despite the positive this brings the need for more ambitious changes is needed to stay ahead and to avoid business elements becoming outdated. There is a growing need for companies to raise their environmental efforts as a form of risk management as well as to set themselves up to be leaders in the future. As a practice in risk management companies should start looking at environmentally friendly solutions to power their activities. The global distribution of fossil fuel resources is primarily concentrated in the hands of a couple key conglomerations, leaving organizations at the mercy of geopolitical events that influence their key suppliers. The Russian war with Ukraine is a key example demonstrating the European venerability relative to fossil fuel prices and the dependency on them, resulting in higher prices and energy shortages in parts of Europe. Companies able to pivot into having more access if not total dependency on green energy would be able to circumvent issues outside of their direct geopolitical zones of operation. Providing them with the ability to reduce risks with more local control, limit global political influence and experience more price stability. Additionally, with the EU wanting to step away from Russian fuel dependency it is the perfect time for forward thinking organizations to seek government assistance in investing in green alternatives. Companies today can experience more benefits for being early to invest in green solutions, these incentives could disappear in the future leaving late adopters more vulnerable to the prices set by faster to act companies knowing changes are mandatory. 2. Creating Future Advantages Despite the vast commitments form organizations to decarbonize and reduce emissions, results are still falling short of the shared goal of 1.5 Celsius as set by Paris. As goals for decarbonization are not currently being met, in the future it can be expected that more regulations will be implemented to address the climate issues facing the planet. Leaving the expectation that more drastic and harsher carbon requirements will be set in place. Naturally, these environmental regulation changes can be a shock, disrupt business and open firms up to falling behind their competition. However, this present two key incentives to act fast; 1. First mover advantage, and 2. Reducing future risks. First mover advantage Firms that are fast to act will benefit from setting themselves up for stability in the future. Reducing future Risk by adopting green ways of working. When climate regulations become harsher, organizations that are slow to adjust will be pushed to make drastic changes, and that makes them venerable to greater risk. 3. The potential of green marketing More consumers are caring about the environment each year. With future projections for green markets seeing them doubling within the next 5 years (Statista, 2022). In fact, this is more than just an industry trend consumer are willing to pay a higher premium for good and services that are environmentally positive (YouGov, 2021). Meaning that “green” holds value on its own. But how can firms that act fast capitalize more on being environmentally friendly? Green marketing is the practice of promoting environmentally friendly business activities in an aim to capture more value from set activities through: positive consumer impressions, capturing new consumers that have an environmental focus, ensuring you look better for sharing how you do environmental good, and your competitors look unsympathetic for not saying how they act environmentally. The goal of marketing sustainable and climate positive activities is to be able to help the world whilst doing business. Finsys stands by the idea that adopting a green marketing strategy will showcase your actions with consumers to help them make an informed decision about the environment. ------------------------------------------------------------------------------------------------------------------- Current trends are showcasing that going green is not just a way to save the planet but also a path to enable a better business future. Finsys helps propel future change today within vibrant organizations through aiding in shifts in strategy, use of AI, use of technology, adopting green manufacturing and developing green marketing strategies.

Anyone can run when the market is moving at the speed of light, the real test is how resilient you are in a recession. Current turbulent world events, rising commodity prices and supply shortages are all driving the current rising levels of inflation. As a result, consumers are beginning to cut back on their nonessential spending, markets are becoming more price sensitive, and banks are increasing interest rates. Yet, business leaders understand these increased risks also bring new opportunities for hungry and motivated businesses. Naturally this presents a challenge to businesses as they wish to maintain current profits if not increase them. With the nimblest organizations already starting and enacting their inflation and recession mitigation plans with the aim to reduce risk, losses, and potential set themselves up for continued profitability. Finsys has identified 4 strategies to help prepare for an uncertain future. Empower growth with customer engagement When consumers become uncertain, and their patterns are disrupted they naturally shop around to ensure they are receiving a comparative value offering. This presents hungry firms with the ability to pay attention to the customers shifting needs and attune their offerings to remain relevant. The primary strategy for gaining customers within harsh times is to “Keep and steal“ them. Firstly, to keep customers organizations must leverage business intelligence to understand their current customers needs as they no longer can justify expenditure on wants. Additionally, to steal customers companies must catch the action of churning customers belonging to the competition, enticing them over by listening to why they left and giving them what they need. Price for inflation Agile firms that are fast to enact pricing decisions will set themselves up with an advantage within the current economic environment. When inflation is on the rise companies can no longer afford to have a blanket pricing strategy. Rather it is pivotal to become more nuanced about pricing, using clear customer segmentation to position and treat customers based on their defined price sensitivity or focus on value. Additionally, with a good understand of relevant customer segments parallel to your offering it becomes possible to capture new business volume from both new and existing customers. Automation to set the talent free Talent within an organization is both the most valuable assets and most criminally underutilized. Within a recessionary environment each employee must have the ability to contribute meaningful and valuable work. Enabling the abilities of AI will free up employee time by reliving them of simple, laborious, time consuming and repetitive tasks. Develop the best place to work Organizations must focus on their ability to attract the best people and retain the talent they have. Creating the best workplace means addressing, understanding, and fulfilling the needs of the employees within the company. Help employees feel secure and motivated within uncertain times is vital for maintaining the talents motivation and willingness to feel fully committed to generating new value. Allowing workers to participate in additional in-house actives, projects and meet new teams is a great way to generate new energy and Collaboratory spirit. Additionally, prioritising the workplace satisfaction overcompensation is vital, as long as people feel they have a voice, are learning and can contribute to the organization they will stay. After people feel happy at work and the company is producing results it becomes time to pivot to financially rewarding strong team members. For most employee’s compensation is not the primary drive for their ability to do great work, but that does not mean they should not feel the fruits of their labours when it becomes possible for the company to sustainability afford to do so. In an inflationary period the largest concern for the organization and employees is uncertainty. Mitigating that stress for the talent will ensure with good managerial direction that new ideas, values and purpose can be created for everyone involved.

Update legacy systems and focus on implementing new technologies to stay ahead. Dynamic shifts have come to define the modern business environment. Staying relevant, ahead of the curve and at the forefront of innovations are the current divers for successful business. With the biggest challenges being changings in expectations by consumers and employees. Due to the covid-19 pandemic a reliance and comfort in digital tools was established by all individuals interacting with an organization. Creating a need for good technology integration within organizations to best enhance their reach and better preform their tasks. Resulting in the best businesses adopting hybrid ways of working to drive growth, efficiency, and new ideas. Within this new reality to compete, comfortability with digital tools and technology must be the goal for future thinking leaders of organizations. Yet, how does an organization with digital ambitions maintain its digital relevancy is a revolutionary world? The fight for technological relevance is an uphill battel that creates vast disparities between winners and losers. Making it vital to understand what the winners are doing to succeed. To help Finsys has identified the four primary habits that drive technological success. 1. Investing in new capabilities Investing in new organizational capabilities is the key to continuously allowing the talent to grow. Enabling the talent to gain new skills requires that they are provided with the resources to learn, a culture that wants to grow and by challenging people to accelerate their learning. Vitally, giving chances for the people in an organization to push themselves will drive them to better the abilities unlocking their potential to contribute more to the wider organization. - Examples (resources for learning): mentors, workshops, guest speakers, in house seminars, providing tools that facilitate learning, granting access to information that can be used for learning and digital libraries. - Examples (culture): have a driven, slightly competitive, team-oriented culture focused on collaboration and problem solving will breed individuals that are smart, curious and solution driven leading them to want to gain new skills to overcome obstacles. - Example (challenge them): some people learn best under pressure and others need to be able to put their skills to the test to realize what they are both able and unable to do. By challenging the talent, you both present them with practice to improve current skills and take not of the skills they need to learn. 2. Future proofing technology Investing in technology is pivotal for organizations to keep up and take control of their future abilities to compete in competitive spaces. Therefore, ensuring that the technology invested in today is future proofed and relevant tomorrow is a resource priority. Finsys has identified three main points to keep in mind; 1. Follow industry standards, 2. Scalability, and 3. Flexibility. 3. Establishing business continuity Business continuity is the proper execution of a grander organizational vision to ensure that all elements and sections of the business use compatible tools, systems, and technology. The aim is to generate more and easier cross sector collaboration; it streamlines workflow and allows for employees to transfer between departments smoother. Creating more agile abilities and the more creative utilization of talent for different departments working together to create more value through different perspectives, experiences, and insights. 4. Building digital and data platform Building digital and data platforms should be developed to meet your needs and can address your issues and/or increase your ability to complete tasks effectively. For instance, in the modern environment employing data and analytics platform is needed to act as a central repository, support scaling, identity sources of business value. Data Assets, Architecture, and Democratize data are key elements that must be understood to best develop the strongest in-house tools to leverage data and create a solid digital foundation. Data Assets. Identifying the data that holds the most value to an organization is vital. Valuable data can become a competitive advantage, add value, and enable digital transformations. However, not activating the data at an organization’s disposal can hold back their potential, strategies, and business outcomes. Architecture. Re-organizing a company’s technology architecture should be focused developing modular systems that enable the full potential of their data and technology. However, the core goal of a good platform architecture is to be more efficient, liberate data, power business systems, reduce costs and improve agility. These elements allow for the better adoption and utilization of artificial intelligence, machine learning and agile ways of working. Democratize data: The key to unlocking the full value of data internally is to fully democratize it. Giving all the talent access to data and information is a driver for innovation, allows for the crowed sourcing of idea and ensuring all members can learn. Resulting in a more vibrant workspace with the talent having a deeper understanding of their organization, customers, industry, and market.