Technology Buoys Risk Management Activities
Posted: 10 January 2013 | Author: Malissa Lundgren | Source: BPS Resolver
The global economy is slowly recovering from the 2008 recession, but at the same time, companies still need to be incredibly cognizant of risks and threats that could jeopardize their operational stability. Stockholders are extremely cautious and one wrong move or investment could lead to a significant loss in financial support.
In some industries, the threat of risk is even greater. Companies in the manufacturing, energy and infrastructure sectors are saddled with additional regulations that they need to comply with on a seemingly monthly basis. These are further stacked on the risks that other companies face every day, such as operational activities, IT, supply chains and vendor management and enterprise governance.
"Stakeholders are rightfully concerned about gaps in Risk Management programs," a report from ARC Advisory Group asserts. "Shareholders want to be assured that their investments are secure and communities need to know that they are adequately protected from health and environmental incidents. This has fueled the development of additional standards and guidelines that every industrial organization needs to understand and incorporate into its programs."