Risk management is a core competency that helps organizations deliver and increase stakeholder value over time. A good risk management requires better data and information, so organizations can take action on an ever-evolving inventory of risks. An ERM can identify potential risk in a strategic plan and develop the appropriate mitigation processes to help maintain an acceptable level of risk exposure and ensure the successful execution of the organisation's strategic objectives.
ERM powered by the latest technologies, such as business intelligence and advanced analytics, provides the ultimate strength to the top leadership in making crucial decisions. Companies acquire significant amounts of detailed data, but this information is often stored in different directories. As a result, extracting its full business value can be very complex. ERM helps clients collate and format data sets, so that they can be compared and visually interrogated to evaluate trends identify material risks and set baselines.
Another benefit of a formal ERM function is the heightened awareness it generates among employees about the role they individually play in defending the enterprise against risk. The combination of employee training on risks and proactive monitoring of the work environment for anomalies or suspicious behavior can help in early detection and avoidance of risk.
Need thus arises not only to be aware of various advancements happening in the field but also to choose the right solution in the quest to achieve financial goals. Understanding the changing times, CIO Advisor APAC has compiled a list of 10 most promising enterprise risk management solution and service providers for the year 2019 to guide organizations associated with the risk management sector in harnessing their true potential with innovative technology solutions to tackle today’s challenges and increase revenue potential. Moreover, this edition will update them with the latest industry trends. We present to you CIO Advisor APAC’s “Top 10 Enterprise Risk Management Solution and Service Providers 2019.”