Category: categorized

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…

Efficient Risk Management by leveraging the Rapid pace of Innovation & Emerging Technologies

Disruptive Business models are driving the need for increased risk-taking. Conventional Risk Management methodologies are focused primarily on completing mandatory, Compliance-driven processes. However, with the rapid pace of Innovation in Technology, the Boards and the C-Suite are now viewing Risks in terms of their potential to drive performance and hence become a competitive advantage. Using Automation and Analytics, Risks…

Addressing the evolving Risk Universe : Getting Actionable Insights into Risks in Real time

The Risk Universe is expanding at rapid pace and frequent headlines on Information Security breaches ,Fraud Risks, Non-Compliance Penalties etc..bring to the surface the urgency of new robust methodologies of identifying Risks and designing future ready Response Strategies. So what should Risk Managers prepare for ? With this blog series on Enterprise Risk Management, we talk…

Tracking & Monitoring GDPR Rules with Agility, Confidence and Artificial Intelligence

Efficient GDPR Compliance Management encompasses vital processes like Integrated Risk Mapping, Gap Analysis, Policy and Procedure Tracking and conducting Compliance Audits. In our previous post, we discussed about Integrated Risk Mapping and Compliance Testing. With this post we discuss how monitoring GDPR Rules and Controls is a continuous process that can be efficiently and effectively…

Key Attributes of End-To-End GDPR Compliance Management : Integrated Risk Mapping and Agile Compliance Testing

GDPR (General Data Protection Regulation) is an Exhaustive and Technically demanding Regulation around Data Privacy ever established. The inherent need of 360 degree Visibility and Strategic Enforcement presents a challenge for Companies globally wanting to be GDPR Compliant. Some of the major challenges around being GDPR Compliant is having a robust Data Handling and Data Storage…

Agile GDPR Compliance Management : An End-To-End Process leveraging Artificial Intelligence

The new EU Legislation, General Data Protection Regulation (GDPR) is a latest reform of Data Protection Rules that not only requires extensive Data Protection Security and Reporting requirements, but also surfaces the need for an end-to-end Compliance Management system. The Board, the C-Suite, the Audit & Compliance departments and the Senior Management remain responsible for Regulatory…

$625.3 million penalty for not catching up with systemic control failures. Need of the hour : Transparency & Agility in Audit Processes

As per a recent Wall Street Journal article, a leading Big Four Company is charged with $625.3 million fine for failing to catch a fraud scheme that helped cause one of the biggest bank failures of the financial crisis. It was found that the Big Four Company had violated auditing rules by failing to design its…

Emerging Governance Trends : Aligning Enterprise Risk Management with overall Business Strategy and Performance

With new Regulations coming into action continuously, it’s time for Companies globally to adopt an innovative and agile methodology for their Risk Management Strategy. While the basic concepts of ERM best practices remain the same, the focus has now shifted from just identifying and mitigating Risks to building robust Strategy that has the potential to maximize the…

Non-compliance with GDPR to cost $23.4 million or 4% of Annual Global Revenue : 3 Steps for Boards to be GDPR Compliant

As Europe’s General Data Protection Regulation came into action from 25th May 2018,a new era in Data Privacy and Information Security begins wherein Companies, Multinationals and Organizations globally are compelled to change how they gather and handle Personal Data of the European Citizens. As per a recent WSJ article, many of these firms aren’t fully…

Mastering GDPR Compliance : From Mandate to Competitive Advantage

General Data Protection Regulation (GDPR) comes into effect from May 25 and it’s primary goal is to regulate how Companies protect EU (European Union) citizens’ personal data. The responsibility of complying with the mandate is on Organizations that hold and process this information. With the deadline approaching near, Companies globally are already examining their basis…

Future Ready Audit Leadership : Unleashing Three Key Elements of Agility, Innovation & Automation

For Internal Audit to be more Efficient and Effective, the Board,the C-suite and the Audit Committees need to create the right Strategy which includes proper Positioning, the right Talent and automated Processes. From our previous posts in this exciting Internal Audit Leadership blog series, we identified a number of key attributes that are must haves for…

Deriving the key element of Agility from Martial Arts for Internal Audit Leadership

Innovation, Automation & Agility are the new normal and finding ways to anticipate the unexpected Risks & Opportunities adds great value to a Business. While our previous post in this exciting Audit Efficiency blog series talked about how the key element of Innovation derived from Music can be leveraged for gaining efficiency in Internal Audit,…

$185 million fine : Is this price sufficient for poor Sales Process Compliance and lack of Transparency in the world’s largest Bank ?

Frauds in big Corporate houses and Organizations have been making headlines since last decade and as you read this, world’s largest bank Wells Fargo has been charged $185 million fine for illegal sales practices that included opening of 2 million fake customer accounts. Following the allegations, the bank fired over 5,300 employees who engaged in…

Rice Energy Succeeds With Force.com And AppExchange Partner Confident Governance’s Governance as a Service Platform To Enable Their Risk And Compliance Governance As a Competitive Advantage

At Confident Governance, world’s number one Company specializing in Cloud Governance, we have a mission to Democratize Governance Worldwide and we strive ahead with this vision through successful Partnership with the robust Salesforce.com platform. There has been no looking back since the inception and our innovative Governance as a Service module has been utilized and appreciated by…

Developing Innovative Risk Management Strategies For Non-Profit Organizations

A lot has been talked about Risk Management and effective ERM Strategies. While Companies worldwide, whether Public or Private, are customizing ERM processes to suit their requirements and achieve Business goals, there is an obvious void between achieving Project goals by aligning Risks in Non-profit Organizations. Risk Management is a rapidly developing discipline with varied views.…

Fostering Agility in Compliance : Need of the hour for Global Organizations

In most global discussions today, we frequently hear words like Emerging Technologies, Cross-generational workforce, Changing international economies and so on and so forth. If we ever had to summarize all of these topics in just one word , what would be that word ? Yes, it’s “Agility”. In this dynamically changing Business market Agility is no…

5 Pivotal Ways Internal Audit Will Transform In Next Decade : Part 5

In this concluding post of ConfidentNow blog series  the top 5 ways Internal Audit will be transformed in next decade , we will discuss about the last but not the least element of Transparency in Internal Audit. At the 75th Anniversary of IIA , Confident Governance Chairman Bhavesh Bhagat is going to share his insights on the Emerging Trends in Internal Audit and how…

5 Pivotal Ways Internal Audit Will Transform In Next Decade : Part 3

Focussing on how Integrated Platform Technology can leverage your Audit processes, we carry forward the conversation on the top 5 ways Internal Audit will be transformed in next decade. To have a deeper insight on how Internal Audit departments can leverage Emerging Technologies and gain Agility, we can have a look at how the use of Technology in Internal Audit has…

5 Pivotal Ways Internal Audit Will Transform In Next Decade : Part 2

Continuing our discussion on the top 5 ways Internal Audit will be leveraged in next decade, today we will discuss about the Automation of Internal Audit Processes using Emerging Technologies. This year IIA will be celebrating it’s 75th year of Establishment, and so it becomes even more relevant to gain insights on the dynamic changes brought…

5 Pivotal Ways Internal Audit Will Transform In Next Decade : Part 1

As we are drafting this post, our social media handles are buzzing with news on Brexit, Chilcot Report and many more International Current affairs. At this time when International economy is getting transformed and Technology is reaching new forefronts, it becomes imperative to gain insights on how Businesses around the globe are going to be impacted. In an environment where…

Millennials : Next Level Of Leadership ?

An Expert once said “Every Generation’s fundamental job is to prepare the place for the next Generation”. In terms of Business, this quote translates as aligning the Cross-Generational Workforce for achieving Business Excellence. While working through this objective it becomes vital to know what are the defining characteristics of the various Generations and how to Align them. In…

Leveraging Cutting-edge Technology To Gain Agility In Compliance

We live in an Era where Efficiency is no longer an option, it is a Necessity. What are the ways we can achieve Efficiency? You guessed it right, through Modern Technology. Technological Advancements have re-vamped the Business Processes Globally in the areas of Medical Science, Astronomy, Media ,Biological Sciences,etc… However, only a few have written/spoken…

Agility in Risk Management Strategies – Why? , How? and Where?

We reviewed the importance of Innovative Risk Management Strategies in the previous post. But there are more than one dimensions to Effective Risk Management. Risk Management is a rapidly developing discipline with varied views. Moreover, there is no “one-size-fits-all” approach for ERM. So, what is the other dimension we need to add to Effective Risk…

Augmenting Organization Value Through Innovative Risk Management Strategies

The big “R” in the avant garde Business community is the word “Risk”. But how many of us actually invest our Efforts/Resources for Effective Risk Management ? In a recent Webinar presented by our Chairman Bhavesh Bhagat, we conducted a Poll, whose results are Revealing (again the big “R”) and Intriguing. Before we discuss more into…

Innovative Risks And Digital Business Frameworks

A couple of weeks back, as I was looking out of the window , I saw the usual panorama of tall and architecturally Innovative buildings, digitally equipped cabs, the Financial news flashing on the big screen, and of course the People passing by with all their latest gadgets. This has been the usual view through many years…

Chatter Topics – Using Hashtag To Simplify Official Collaboration

Influx of Salesforce Chatter has led to efficient Collaborative means of communicating within Organizations of all sizes. Chatter has given a whole  new dimension to Business Collaboration by giving it’s  Users instant access to Content and Expertise they need in their work area. This is not all, Chatter enables the savvy Organization to Centralize all forms…

Facilitate Creative And Co-ordinated Teamwork With Chatter Groups

With all our previous posts on Chatter, you might have deciphered by now that the role of any Collaboration Tool is not just enabling Collaboration, but also to leverage Business, to enable making swift Business decisions and to achieve Optimum Results with Minimum Resources. This infers that a Collaboration Tool with the right Governance methodology that automatically…

The Two Constants Of Governance And Risk Management Automation

Recently I was having a conversation with one of my colleagues in Washington DC and a Chairman of a Board, when, amidst the discussion of Global Trends and Technologies, a very interesting subject came through. It was regarding the Amazon CEO Jeff Bezos, who recently revealed the Success of his Company. According to Bezos, if you want…

Propelling Towards Global Governance And ICT (Information Communication Technology) Innovation With India-US Strategic Partnership

On the day I write this, India is celebrating it’s 66th Republic Day with the US President Barack Obama as the Chief Guest. It is like “icing on the cake” at the time when India-US Business Relations have already achieved new heights. The Republic Day is the day of the Constitution and in simple language , Constitution is a…

A Business Directory Inside Your Salesforce Organization – Chatter Profiles

Chatter provides an array of Collaboration features and capabilities to any application built on the Force.com platform. These Collaboration features include real-time Feed Updates, User Profiles, and Feeds that allow Users to see changes that are important to them. For a Developer, this Social Platform opens up endless possibilities for Customization. Particularly in this excerpt, we will focus…

Accelerating Corporate Collaboration With Salesforce Chatter “Feeds”

In the previous post we saw the significance of Collaboration and Collaboration tools in an Enterprise. We also saw the reasoning behind the Emerging popularity of the Enterprise Collaboration Tool, Salesforce Chatter. Moving on further in our Confident Now Blog Series we will understand more about one of the amazing feature called “Feeds” of Salesforce Chatter and also understand some…

Turbocharge Your Business Processes With Salesforce Chatter

As Companies aim to succeed and evolve in the fast paced Social Media driven world, Collaborating effectively with their internal and external stakeholders becomes the make or break difference between success and failure. The old paradigm for Collaboration that people need to be effective communicators to Collaborate internally has been replaced by the new state…

Stand Up Tall Against Information Security Breaches – Cloud Governance Is The Need Of The Hour

The Internet is becoming the town square for the modern global village and Cloud Computing is the new Industry buzz. Numerous Enterprises big and small are getting inclined towards the Cloud to leverage efficiency, reduce cost and augment expediency to the end-users by making the services and resources available wherever there is an internet connection.…