Business and IT leaders are responsible for generating revenue for their companies. Risk management plays a significant part in business growth. Companies cannot afford even a margin of error because stakeholders are involved in all operational decisions. In this article at Risk Management Monitor, John Sabatini suggests replacing manual operations with an automated tool to manage risks. Digitally intelligent actions can avert human error. It can help you take calculated risks without complicating the tasks at hand. Turn to strategic initiatives and use available data and resources to automate risk operations. It will make your organization more resilient.
An Optimistic Layout
According to a recent PwC US Pulse survey, over 60 percent of risk executives are confident of witnessing global economic and healthcare recoveries. Alignment between risk operations and business growth is stimulating their optimism for improvement. About 50 percent of risk management executives seek suggestions from the C-suite, while the other 42 percent prefer discussing issues with board members. A majority of survey respondents believe that risk operations require transformational initiatives.
Risk functions are inconsistent. Most companies consider them as a possible roadblock to their business growth. Initiate compliance measures to reinforce automated risk management into corporate planning. It may help your organization standardize risk operations and achieve a competitive edge by staying optimistic in uncertain situations.
Automated risk management urges intelligent monitoring without increasing compliance costs. Also, it helps in identifying pitfalls and emerging risks within your business infrastructure. So, you can take swift actions at an early stage and avert complications in the future. Click on the following link to read the original article: http://www.riskmanagementmonitor.com/automating-risk-functions-for-greater-value-creation/
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