Every organisation depends on reliable data. Managed well, it will drive revenue, reduce costs and mitigate risk. Managed poorly, it can lose customers, inflate costs and expose businesses to increasing levels of risk.
Organisations are also making big investments in enterprise technology and information systems, however the obstacles preventing them from realising true business benefits include:
- Collecting large pools of data, but not designing structures and processes with an end use for that data in mind.
- Experiencing difficulties distilling and transforming data to business-level insights.
- III-defined approaches to managing appetite for data risk along with misunderstandings about the concepts of rewarded and unrewarded risk.
With a continually evolving risk landscape and in an increasingly complex, automated and IT driven world, it is essential that organisations are able to monitor and alert themselves to key risk events when they occur. Key risks take many forms in an organisation e.g. data quality, information security and external reporting compliance risks. Many clients are seeking cost effective ways to build and operate ‘control safety nets’ around such risks.
To implement and govern such risk monitoring activities can be time consuming and error prone without the use of technology. Our teams deep and thorough understanding of underlying risk and control issues, combined with our knowledge of technology and analytic skills, uniquely helps us to identify high priority risk areas in our clients businesses and explore those risks using our clients’ data.
Contact us to find out more about how our services can help you realise the value of data-driven risk intelligence across: