WEBVTT

1
00:00:00.690 --> 00:00:03.900
What does it mean to be financially resilient?

2
00:00:03.900 --> 00:00:07.290
Well, there's no question that today cash is king,

3
00:00:07.290 --> 00:00:09.870
but financial resilience is also about being able

4
00:00:09.870 --> 00:00:13.530
to balance the trade off between minimising costs

5
00:00:13.530 --> 00:00:15.960
and maximising flexibility.

6
00:00:15.960 --> 00:00:18.090
Do you have the right mechanisms in place

7
00:00:18.090 --> 00:00:20.880
to capitalise on potential future opportunities

8
00:00:20.880 --> 00:00:24.243
and also withstand the greatest financial shocks?

9
00:00:25.251 --> 00:00:27.918
(dynamic music)

10
00:00:31.800 --> 00:00:33.360
So there are a number of things

11
00:00:33.360 --> 00:00:35.850
that senior executives can do today to help

12
00:00:35.850 --> 00:00:39.450
their organisations become more financially resilient.

13
00:00:39.450 --> 00:00:43.020
The first is: understand your starting point.

14
00:00:43.020 --> 00:00:45.000
For those who are less prepared,

15
00:00:45.000 --> 00:00:46.980
engaging in no-regrets moves

16
00:00:46.980 --> 00:00:49.740
like reevaluating the cost structure

17
00:00:49.740 --> 00:00:53.040
and shortening forecasting cycles.

18
00:00:53.040 --> 00:00:55.290
But regardless, it's critically important

19
00:00:55.290 --> 00:00:57.990
to also get the investor story right,

20
00:00:57.990 --> 00:01:01.020
to have clear messaging for external investors

21
00:01:01.020 --> 00:01:03.660
in the broader community around the strategy

22
00:01:03.660 --> 00:01:05.510
and the actions that are being taken.

23
00:01:09.120 --> 00:01:11.670
It really comes down to financial steering

24
00:01:11.670 --> 00:01:13.440
and the planning process.

25
00:01:13.440 --> 00:01:16.560
Gone are the days of the annual planning process

26
00:01:16.560 --> 00:01:18.900
that's done at a very detailed level,

27
00:01:18.900 --> 00:01:21.480
and in are the days of much more dynamic

28
00:01:21.480 --> 00:01:24.753
and flexible planning that is done throughout the year.

29
00:01:26.370 --> 00:01:28.080
Having a very clear understanding

30
00:01:28.080 --> 00:01:32.340
of how operational drivers connect to financial outcomes

31
00:01:32.340 --> 00:01:34.290
and having the data and systems in place

32
00:01:34.290 --> 00:01:38.250
that enable that type of flexibility and visibility.

33
00:01:38.250 --> 00:01:40.680
Having the right mechanisms in place will allow

34
00:01:40.680 --> 00:01:44.760
for resource reallocation dynamically throughout the year

35
00:01:44.760 --> 00:01:46.770
so that the organisation can adjust

36
00:01:46.770 --> 00:01:49.380
to changing external market conditions

37
00:01:49.380 --> 00:01:51.513
and evolving internal strategy.