Incorporating Agility and Innovation in Enterprise Risk Management in a Networked Economy

Businesses have always faced Risks, but recent events around Cyber Security breaches, Audit & Compliance frauds, etc.. have provided dramatic evidence that Risk is a reality which needs to be addressed with Agility and Technological Innovation. Stakeholder expectations are higher than ever and Enterprises that are more resilient will experience more rewards. In a Networked Economy, where everything in a business is interconnected, understanding inter-dependencies and planning for discontinuities in vital Corporate Processes like Enterprise Risk Management is of utmost importance. The Board and the C-suite across all Industry Verticals have embarked on a transformation to ensure their long-term survival in the competitive environment in terms of Risk Identification and it’s timely mitigation in this era of disruption.

The Risk Universe is expanding at a phenomenal rate. The benefits of being proactive and being prepared with latest advancements in Technology are significant, however Risk can present opportunities for Organizations to emerge stronger and enable building more effective capabilities at all stages of Risk Management by integrating the metrics on Risk Probability, Risk Impact, Risk Value, etc. An Agile approach to Risk management fortifies an Organization’s ability to avoid Risks by focusing proactively on detection and and enabling being equipped with Readiness and Response.

Risk Management is a holistic framework to manage the potential downside of disruptive Risk and achieve Business goals. Transforming Risk Management processes in ways that are better attuned to the Business realities means adapting to a more Dynamic and Agile environment where Risk is integrated with Opportunity and Innovation. 

We at Confident Governance have helped Businesses worldwide create and protect value and enhance effective management of Governance, Regulatory and Compliance Risks on a sustained basis with ConfidentG Agile Risk Management application which is equipped with Artificial Intelligence assisting Companies to face unprecedented Risks and hence achieve their mission, goals and objectives. The Customized Reports/Dashboards can be pulled up anytime, anywhere and on any device. Additionally, with the integration of Google Earth, the Risks can be represented using geo-spatial Risk Location.

In today’s networked economy, forging ahead with a stronger relationship between Risk and strategy is imperative and with the mission of “Democratizing Governance Worldwide”, we are doing just that.

Stay tuned for more posts on Agile Governance !

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