White Paper: Stratman Solutions
Compliance for CECL is closing in. To ensure your institution is prepared, it is critical to begin preparations now - if you have not yet done so. Top financial accounting firms recommend that Financial Institutions (FI) run their existing allowance calculations in parallel with their selected CECL solution (i.e. spreadsheet or third party software) for a period of time. This recommendation, of course, assumes that FIs have already overcome the major hurdle of choosing a CECL solution (and associated methodologies) for calculating current expected credit losses. For many institutions, researching and selecting a third party solution to establish initial CECL compliance and reporting can be nearly as arduous as the new regulation. Because the standard for CECL compliance is not prescriptive (i.e. there is no “specific methodology” that must be followed), many institutions have adopted needlessly complex solutions with multiple inputs that are likely to become burdensome to maintain long term. On the other end of the spectrum, FIs have developed Excel based solutions (in house or by working with advisors), that are not only labor intensive to maintain, but offer limited functionality. Still other institutions are seizing this opportunity to improve their data gathering, data retention and data mining & analytics capabilities. In whole, it appears the level of disparity in approaches to CECL compliance is equal only to the number of CECL solutions proffered by third party vendors. With this level of “noise” surrounding the CECL regulation, it’s easy to understand why some institutions have reached “analyses paralysis.” As with any new regulatory edict, the most effective path forward to ensure compliance by the January 2023 deadline, is a common sense approach. Each FI should look for a solution that: (1) offers multiple methodologies thereby providing future options and flexibility to determine the impact of each method; (2) is simple to implement - minimizes disruptions; (3) is easy to maintain long term; and (4) is scalable - to meet your future needs. At Stratman Solutions, we began our “CECL” journey with a common sense approach. We developed a solution that could both support our current reporting and compliance needs, and also provide the flexibility we’ll need in the future. Early in our journey, we determined we wanted more than an automated calculation/ reporting tool - only used on a quarterly basis. We wanted a notable return on our data collection and data mining efforts. To that end, we included asset management and asset (action) planning features within our CECL solution. Once finalized, we appropriately named our CECL solution “Asset Quality Management (AQM).”
White Paper: OHZONE
So many businesses are missing out on the incredible power and versatility of 3D tech. Why? Myths are prevalent in the fashion industry– and 3D is no exception. The truth is the right tech can help you transform your e-commerce presence while increasing sales, reducing returns and entertaining. It can also help you deliver immersive and unforgettable fashion shows in your virtual showrooms and, most significantly, help you reduce your environmental impact while optimizing operations and reducing costs. In fact, the best 3D tech could have helped countless retailers and brands continue with business as usual in those critical early days of the pandemic. The truth awaits. Don’t let these common myths stop you from harnessing the power of 3D tech... E-Commerce Myth: All 3D is the same. Fact: When you explore the world of 3D tech, you’ll realize there’s a lot of variation on offer. 3DReal™ by The OHZONE is very different from 3D CAD, 360 photography and spin photography. There are very important differences among all four in terms of quality, capabilities, use cases, pricing, onboarding requirements and more. Myth: 3D is nice to have if you can afford the extra bells and whistles, but it’s just another trend. Fact: Your brand, marketing and digital presence (including social media), can bring customers to your website. However, 3D product imagery can encourage purchases, increase average order value (AOV) and reduce returns thanks to their high quality, detailed, accurate representations of your products in the digital realm. Myth: You need extra hardware to get interactive. Fact: You don’t need VR headsets or other fancy hardware and gadgets for an interactive e-commerce experience. All you need is the right partner– The OHZONE can provide you with draping so realistic you can almost “feel” the fabric’s texture and movement in motion. Virtual Showrooms: Fashion Shows Myth: Your fashion show won’t be effective or regarded as credible if it isn’t expensive or doesn’t take place offline. Fact: Virtual fashion shows are just as effective and credible – and they don’t need to cost a fortune. Save money and go easier on the environment with exciting 3D fashion presentations for consumers, wholesale buyers and the press. Myth: Virtual fashion shows must be pre-rendered or pre-recorded video. Fact: You can host an extra fabulous fashion show in real-time virtually, just as you would offline! The difference is you’ll have a lot more opportunities to immerse every single viewer into a fully-encompassing, branded experience with extras that wouldn’t translate well offline. With virtual fashion shows, every viewer enjoys the front row experience. Sustainability Myth: It takes a lot of work and massive investment to become a sustainable brand. Fact: With 3D tech, you can be more sustainable as soon as today– whether through sharing virtual samples or walking buyers through your new collection online. Interested in joining the circular economy? 3DReal™ by The OHZONE can get you there. You can leverage high quality, immersive and interactive 3D graphics to sell luxury resale fashion, upcycled clothing or luxury fashion rental subscriptions. You’ll be able to better engage shoppers with better visuals, more detailed views, and soon– virtual try-on too. The future of circular is noteworthy! According to the Circular Fashion Report, the circular fashion economy may be worth up to $5 trillion. Myth: 3D tech can only be applied to planning, designing and product development. Fact: You can reduce the environmental impact of your samples with high-resolution 3D tech. For instance, 3DReal™ allows brands to automatically produce virtual samples in as many colors and patterns they may need. These brands produce far fewer physical samples, drastically reducing their carbon footprints by producing less excess material waste and reducing shipments, energy use and more. Are you ready to bring your designs to life as captivating 3DREAL™ garments? Request a demo with The OHZONE, Inc. today.
White Paper: IDS
Deep learning opens up new fields of application for industrial image processing, which previously could only be solved with great effort or not at all. The new, fundamentally different approach to classical image processing causes new challenges for users – it’s necessary to think differently. Therefore, IDS presents an all-in-one embedded vision solution with which every user can implement AI-based image processing in just a few steps without programming knowledge, and execute a neural net directly on an industrial camera. This makes deep learning particularly user-friendly. Computer vision and image processing have become indispensable tools in various application fields. Image processing systems are increasingly confronted with a constantly growing variety of products and variants and organic objects such as fruit, vegetables or plants. Conventional approaches with rule-based image processing quickly reach their limits if the image data to be analyzed varies too frequently and the differences are difficult or impossible to describe using algorithms. In such cases, a robust automation is not feasible due to an inflexible set of rules, even if the task is supposed to be easy for humans to solve. As an example, a child is able to recognize a car even if it has never seen the special model before. It is sufficient if the child has seen enough other car models previously.