Volatility, risks and forecasting will become the central questions for chief financial officers in 2011, the forecast of Basware

1. Cost reduction still remains the major task which solution is found on a joint of usual scenarios of receiving and expenditure of means for the companies. Being extremely attentive in handling of cash assets (always to locate the sufficient volume of cash), the companies, at the same time, try to cut down as much as possible expenses and to support profitability at the high level.

2. Volatility (instability) of the market as constant fluctuations of currency rates and goods prices inevitably have a notable impact on financial performance of the companies will become a key factor. Such volatility considerably complicates planning process and effective forecasting of results of activity of the enterprises, leading to overstocking of warehouse during the periods of low cost owing to what the companies should overpay for storage. Thereby the financial instability as the most part of cash flows of the companies "is frozen" in trade inventories is created. While purchasing departments try to cope with "currency madness", on the horizon there is a new problem - depreciation of goods. At the same time volatility of currencies and the commodity prices ostantsya by the main thing subjects for reflection. Volatility is a constantly changing threat, and the companies should mean that under the influence of such factors as changes in the tax law, the trade imbalance and risks, a market landscape can change promptly.

3. Traditionally the efficiency of purchasing departments was measured using contrastive analysis of purchase prices – Purchase Price Variant (PPV). In new year chief financial officers, according to forecasts of Basware, will look for new methods of measurement of costs/savings for more long-term outlook which will consider the cost of inventory stocks and risks related to suppliers and also to reflect a variety of goods. Stabilization of economy will push corporate services to search of steadier (reliable) instruments of measurement which will allow to provide profitability of the companies in the long term.

4. Globalization bears in itself not only excellent opportunities, but also and a serious call for the companies. To be ready to growth, effective, convenient and flexible business connections with suppliers of the whole world are necessary for the companies. Different formats of data, the changing requirements of the legislation and separate base of suppliers can result chief financial officers in need of search of effective solutions for implementation of transactions in universal scale. The open trade platforms which are not requiring the patented technologies allow the companies of any size to make electronic transactions and to reach operational perfection in the international trade relations. Last year such companies as Toshiba TEC Germany, reached significant savings due to transition to the system of electronic accounts (e-invoicing) which allowed to reduce costs for exposure and processing of accounts for 75%. This year many will follow their example.

5. Initiatives in the field of corporate social liability (CSR) will remain on the agenda of chief financial officers this year in spite of the fact that the climate in this area continues to remain adverse. However the reasons for this purpose in different regions will be different. In the USA, for example, the companies the aspiration to cost reduction while in the European Union regulation with the purpose to provide more eco-friendly and rational working conditions will become the main driving force will direct.