In a time of uncertainty, an effective integrated risk management function can allow businesses to drive faster – safely; rapidly innovating, growing and developing the business to meet the challenges of the market, but doing so in a managed, controlled manner.
Yet some organizations still rely on fragmented and siloed processes to manage their risk and compliance functions. Outdated modes of managing risk and compliance may not be able to keep up, and mistakes can begin to slip through the cracks. And in the era of a new reality of working, such mistakes may prove disastrous.
What's holding you back from embracing risk and compliance transformation?
Is it one or more of these commonly held reservations?
- "This function is already complex enough. We don't need to make it more difficult to understand."
- "Technology-enabled risk and compliance transformation will be costly and time-consuming to implement."
- "People will struggle to adapt to new ways of working."
- "Automation will render my role irrelevant."
- "Out-of-the-box solutions won't accomodate the specific requirements of our company."
Read this paper to explore KPMG perspectives that address each of these positions and show ways that technology can actually help improve risk and compliance functions.