Top 20 Enterprise Risk Management Tech Companies - 2017
Enterprise Risk Management is taking the center stage in how companies run their business. Advancements in cognitive technologies, artificial intelligence and data analytics are helping organizations go beyond traditional ways of managing risks by using smart machines to detect, predict and prevent risks. Today, since the entire nature of the risk discipline and their consequences are evolving, organizations should look beyond regulation and cost-reduction and view risk management as a strategic element of their value chain.
Some of the smart devices that comprise the Internet of Things (IoT) and artificial intelligence (AI) have the capability to help organizations detect risk events, derive crucial risk insights and even take immediate actions–resulting in a real-time, pervasive, dynamic risk management environment. With a predicted 20.8 billion connected devices in use by 2020, new GRC challenges abound. IoT developers often overlook security. As cloud computing grows in popularity, 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 hyperconvergence not only strengthens their focus on data privacy and security, but also improve the transparency of audits, legal, and regulatory compliance, while refining business continuity planning. On the other hand the risk intelligence gathered from AI and machine learning platforms will also lead organizations to achieve higher levels of performance.
In recent years, since workforces become more mobile, businesses demands new frameworks 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, myriad of risk management solution providers have emerged to offer their powerful tools that is supported by latest technologies.
Our selection panel has evaluated hundreds of enterprise risk management solution providers based on the ability to assist CIOs and enterprise holders in overcoming the challenges in the sector.
We present to you CIOReview’s 20 Most Promising Enterprise Risk Management Solution Providers 2017