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Finance departments are struggling to manage risk, a recent report from Dun & Bradstreet finds, and many finance leaders “believe their own efforts to manage, monitor and predict risk pose a moderate to high risk to their businesses.”
In order to find out how today’s finance leaders are managing risk and what their future risk management plans look like, earlier this year Dun & Bradstreet commissioned a study of approximately 1,100 finance professionals, the vast majority of whom were based in the U.S.
A key finding from this study is that many finance professionals have a poor grasp of digital tools such as automation and analytics. Their risk management approaches reflect this, with more than 60% of the surveyed professionals collecting data in silos, as opposed to sharing it across the company.
What Are Finance Leaders Worried About?
Source: Dun & Bradstreet
Decline in customer viability and increased supply chain disruption are perceived as the top two industry risks, with more than 65% of the surveyed finance professionals naming them as moderate or high risks. Bankruptcies were also a common…
