Top 10 Enterprise Risk Management Consulting/ Services Companies - 2019
Risk management is one of the most critical aspects of any business in today’s increasingly networked and interdependent market. Failure in this area will potentially lead to irreversible financial and damage to reputation. As per current market trends, companies and enterprises are shifting from investments in threat prevention to threat detection. Most companies and enterprises are seeking to invest in security operations centres (SOC) as the complexity and frequency of security threats increase. The need for security and risk management leaders to build or outsource a SOC cannot be overstated. That being said, in today’s fast-paced business world, data security governance frameworks will prioritize data security investments. The framework will act as a data-centric blueprint that will identify and classify data assets, and define data security policies, assisting organizations in selecting technologies to minimize risk.
Gaining insights necessary to drive actionable decisions is becoming more imperative than ever for organizations—due to the increasing complexities in business scenarios related to governance, risk and compliance. Enterprise Risk Management augments the health and life of the business. Organizations institutionalize risk management procedures by standardizing the tools, methodology and processes while monitoring project risks at all levels. By leveraging, enterprise risk management solutions—companies can proactively evaluate risks in advance and plan the company’s growth stage. Modern risk management requires more than an analysis of past or current threats; it requires anticipating future threats before they occur. The advancements in artificial intelligence and automation are reducing the need for humans to analyze standard security alerts, but sensitive and complex notifications still require human attention. We are starting to witness vendors offer solutions that are a fusion of products and operational services—ranging from full management to partial support, aimed at improving administrators; skill level, and reducing the daily workload.
As the cloud becomes the norm, the landscape is moving toward XaaS—everything as a service. This will transform business value chains, as data will be able to flow seamlessly and securely across different platforms and infrastructures. The transition to the modern cloud and hyper-convergence not only will strengthen an enterprise’s focus on security and data privacy, but also improve the transparency of audits, legal and regulatory compliance.
The market is still wide open for leaders and developers who can provide innovations that help companies reduce risks. In recent years, workforces have become more mobile, and businesses are demanding new strategies to deal with the risks and requirements in terms of security, authentication measures, infrastructure security, data encryption and country-specific regulations. Witnessing this growing challenge and opportunity, risk management solution providers have emerged to offer their powerful tools that are supported by the latest technologies.
This edition of Enterprise Risk Management 2019 – CIOReview brings you the “10 Most Promising Enterprise Risk Management Service Providers-2019.” This list gives you some of the most prominent organizations in the industry that have excelled with their services portfolio in the enterprise risk management space. This list is aimed at bridging the gap between businesses and consulting/service providers that are transforming business processes through their insights and technological prowess.