Top 20 Enterprise Risk Management Solution Companies - 2020
Although technologies are advancing at high speed, modern-day enterprises are prone to diverse obstacles and potential dangers. They face immense risks in managing reputation, day-to-day operational procedures, legal and human resources management, finance, and more. Cybercrime continues to be one of the biggest threats to any organization. Cybersecurity, as a business requirement, has reigned supreme every year, and it is no different in 2020. A cyberattack not only can damage a company’s reputation but also can lead to legal issues and ruin its financial stability. It, therefore, is imperative for risk managers and IT teams to have stringent contingency plans and prevention strategies. Additionally, there are also compliance risks that companies have to deal with. Abiding and complying with all the necessary laws and regulations is mandatory for all businesses today, failing on which may adversely affect a company’s future.
Another potential area of enterprise-related risk is the absence of artificial intelligence (AI) and robotic process assessment (RPA), the two powerful tools that play a significant role in improving and streamlining processes, enabling firms to meet their targets and stay ahead of their competitors. Statistics show that most enterprises are still utilizing traditional tools that fail to keep up with new-age risk management techniques. The role of advanced analytics becomes crucial, which makes it easier to get more precise insights in less time, using intelligent data techniques.
The good news is companies from different industries such as finance, pharmaceuticals, infrastructure, and logistics, among others, are gradually beginning to improve their enterprise risk management (ERM) that have been mainly influenced by the pressures. These may relate to unfortunate events in one’s own company, prompting an internal soul searching regarding whether existing risk-management approaches are adequate or external factors, such as compliance or regulatory changes.
Understanding the fact that risk management has a significant impact in responding to some of the critical challenges faced by enterprises, CIOReview has compiled a list of top enterprise risk management solution providers and consulting/service companies. These firms have been consistent in proving their mettle in the field of enterprise risk management with cutting-edge capabilities. We hope this issue of the CIOReview helps you build the partnership you and your firm need to foster technologically-driven enterprise risk management experiences.
We present to you CIOReview’s “20 Most Promising Enterprise Risk Management Solution Providers 2020.”