Risk and compliance professionals instinctively know that technology can improve efficiency and provide more timely and accurate data for insightful decision-making – but hard data on the expected return on investment has historically been hard [...]
You may think a Risk Management Information System (RMIS) will solve all of your broken risk management processes. But I’m going to let you in on a little secret…it won’t. The only way to [...]
A Risk Management Information System (RMIS) is a significant investment. Like other functional technologies, for example: CRM, supply chain or HR benefits systems, there is a logical point in a risk management function’s maturity that [...]
The cost of spreadsheet errors ranges from embarrassing to catastrophic – from money lost to bruised reputations. Major financial services companies to top tier universities have suffered public damage because of spreadsheet errors. Something as [...]
Has your organization made the decision to purchase a Risk Management Information System (RMIS)? If so, you are probably in the process of narrowing down potential vendors. An important step in this process is the [...]
Risk management exists to identify, mitigate and manage events that can threaten the operational viability of an organization. If Risk Managers do not have line of sight to their risks, they cannot manage them well. [...]
Too often companies get stuck “making do” with spreadsheets and other outdated tools because, well, that’s the way it’s always been done. Having the right tool makes any job easier, and managing risk is no [...]
Traditional risk management reporting is a cumbersome, time-consuming process. Numbers are entered into a spreadsheet, those spreadsheets are combined with others from different sources, and – eventually – a report gets generated. Corresponding pie [...]
Many Risk Managers regularly rely on their brokers or even their carriers to answer questions about their insurance program such as, “Do I have enough coverage for this new claim that came in?” or “Are [...]
“We need to do an ROI analysis.” I have either heard or said that phrase thousands of times throughout my career. I have performed hundreds of them — some extremely complex, some not as detailed, [...]
