Successful businesses are usually the ones with an agreed unified strategic plan. This is imperative when it comes to identifying, managing and mitigating enterprise risk. Effective risk management comes from all the different facets of the organisation working and cross-communicating so that future risks can be predicted and mitigated.
In an insurance company, for example, this helps to ensure that fraud and high-value claim events don’t slip under the radar or catch the organisation off-guard and without the resources and capital on hand to deal with them. Claims assessors feed information back in about the types of claims they are accessing to identify patterns.
This is the case for most industries, and can be seen across market and economic analysts, weather forecasters, surveyors, car safety experts and many more. They all provide visibility and insights that form an integrated approach to risk management and deliver a stronger, safer and more viable business for the immediate future, as well as the medium to long term.
The same operational requirements apply to cyber security professionals in an IT department or any other business unit. Yet, many information…
