Security is essential for all type of businesses regardless the size and assets it has. The purpose of cash and security management is to prevent loss focusing to business critical assets and to manage the security threats –identifying the risk causes, assess the existing control’s effectiveness in handling threats, determine the consequence(s) of risks, prioritizing risks by rating the probability and impact, classify the type risks and select the appropriate risk option or response.
A security threat is an awful thing that can happen to an asset and is divided into two types, external and internal, both affected by the following factors: strategic, operational, financial, hazard and compliance.
Also security professionals divided threats into six different sub-areas depending on how it can affect your data assets namely; confidentiality, integrity, availability, consistency, control, and audit in which must be balanced against each other.
As an operation manager, you should make the most of your available cash and securities, and grab opportunities as they occur to take advantage of for you. With cash and security management done through automation it becomes more efficient and there are many finance solutions providers with program software available for you.
Using cash and security management empowers you to have full control of your cash management and security inventory. It also enables you to accurately forecast balances which allow you make effective use of the available assets for any transactions.
Also it provides you a set of automated security financing work-flows and instant outline of the availability of all assets. These allows you to reduce your operational risk while improving your productivity, and the workflows and transparency enable you to get rid of intense manual tasks.
This will improve competitiveness as you can easily assess the most current situation and locate specific securities that are in demand on the market. It gives you the edge over your competitors, with modernized workflows that enable you to respond quickly to changes in the market.
Lessens integration with third-party systems as the entire cash and securities management process is held in a single platform. With no delay between action in the front office and awareness in the back office, you are constantly aware of available positions and all the transactions and orders that might affect them.
Cash and security management through automation will surely make you more efficient, with all the features and benefits that you can get from these solutions, in maximizing and improving your asset protection.