Risk Management is an integral part of any business processes and many enterprises have started recognising the value of new and multiple data sources. Both internal and external data play a role in developing, monitoring and managing risk. This increasingly unpredictable and dynamic business environment demands the development of a clear Risk Management strategy. Advancements in cognitive technologies, artificial intelligence, and data analytics are helping companies go past the old-fashioned ways of managing risks within a single business process. Instead, they are now allowing the sharing of data between earlier siloed business functions and departments.
That being said, with risk management space has acquired a strategic role with risk, legislation, methodologies, and technology changing continuously. Being in line with these changes and managing the associated risks have become more complex and invasive. Today, we can find specialised risk management solutions in the market that can be embedded in multiple functions and departments; drawing on insights from those various business areas and the data they generate, to streamline the entire process of risk management within an enterprise. Integrating Risk Management across multiple business processes will also allow management to look at risks from a holistic point of view; rather than treating them in isolation. In turn, this will ensure the strategic alignment of risk mitigation actions throughout the business. At the same time, this trend will enable uniformity in the management of risks, and consistency in the application of Risk Management frameworks, among all business processes.
CIO Applications Europe’s editorial board has assessed and shortlisted some of the most prominent organizations in the industry such as Iberinform, Detech, GDS Modellica, and Opentech. We present to you – “Top 10 Risk Management Solution Providers – 2019”.
