Sharpen your reactions with a little TLC

So much has been said lately regarding how we move forward post-pandemic, but what is becoming clear is that flexibility will become a huge part of our personal and business lives. With lock-downs, cancellations, quarantines, and delays all becoming ‘normal’, we all need to learn to put more emphasis on fast reactions rather than steadfast plans. Not to say that plans are not useful, plans are still necessary, but they must include multiple scenarios to cope with major changes. This may not be easy.

 People who react faster, get the prize. Companies who react faster, prosper.

Event based businesses are swiftly looking into new models for business sustainability (and survival), rain-checks, Plan B’s and C’s. Remote events, virtual events, alternate times and locations, all to be available at a moment’s notice. This is challenging, exciting, and necessary.

The term ‘Event based business’ is expanding though. It’s not just concerts and conferences anymore. It is airlines, housing/rentals, education, and I would argue it will even now stretch to any business where long term contracts are at play. That potentially puts all businesses and economies on notice.

For solutions, we’ve started to see the introduction of flexible tickets – it’s easy to see that the Airbnb properties with flexible cancellation policies are sold out, but those with no refunds are fully available. This mindset is only going to grow. So how does a business that is used to the old economy continue to thrive when longer contracts start to default, not just the new risky ones?

Working capital is still key. Capital at a moments notice, to infill, when times are tough. Capital at a moments notice for when they need to react fast to grab new opportunities. Capital at a moments notice for their critical supply chain items and suppliers. These working capital trade finance models have been running successfully for years but do you see the difference now? – ‘at a moments notice’.  

Flexibility in financing is crucial for the economy as a whole. Corporates now need access to many financing models. Where traditionally they may have a relationship with a single bank, that may not be sufficient anymore. With a wealth of finance options available nowadays via banks, consortiums, vendors, and specialists, the corporate needs access to many models and programs and potentially from many vendors. This is where TLC can help. As ‘the corporates friend’, we at TLC can offer simple connectivity solutions to allow access to many trade finance opportunities from the same system and in most cases directly from your ERP system itself.

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