Page 32 - PowerPoint Presentation

INTERNATIONAL TRADE-CHANGING

LANDSCAPE

Automation
We are all observing major development in artificial intelligence in recent
past. Full automation of business processes are most efficient way of doing

business in coming days. Most of the finance processes , For example,
Invoicing, Accounts Receivable, Accounts Payable, Bank Reconciliation and
Accounting of transactions, it is very easy to implement 100% automation.
Hope to see a major shift in using the human intelligence productively for

analyzing the numbers and supporting the leaders in decision making than
doing repetitive routine tasks which we can easily automate. This will bring
more efficiency, less chances of human errors and mistakes.
Insurance

Companies normally cover their business and operational risks by appropriate
mitigation tools (eg, Insurance policy).

However, it is also prudent to assess that whether directors liability,
environmental hazards (eg, Oil Spillage due to well leakage or accidents
during transportation) etc. are properly and sufficiently covered.

Business Continuity Process:
It is very critical to have a well-tested and defined business continuity and
disaster management process in place. On a periodic basis, test drills should be

conducted to ensure that the process is working as designed and fit for the
purpose.
Consolidation
In the recent past, we have seen many Oil & Gas companies across the globe

consolidating its operations through mergers and acquisitions. Hope to see the
trend continuing as this will mostly support them to be more competitive.

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