Four ways to gain more value from your Enterprise Risk Management (ERM) investments
In a business environment where risks are evolving and opportunities are emerging faster than ever before, organizations and their Boards have become increasingly reliant on their Enterprise Risk Management (ERM) programs. But while ERM programs have been proven to reduce the impact and disruption of risk on enterprises, many organizations are struggling to clearly articulate the value of their ERM investments. Exposing the value of ERM may require organizations to refocus their efforts, update their approach and breathe new life into their ERM programs.
While ERM programs may not be new, they are capturing wider attention in the Canadian business environment. Many organizations are focusing on making more value from their ERM investments, and are looking for ways to leverage their risk register data to create new business opportunities and competitive advantages.
In this article, we explore some key factors that can help improve your ERM investments, such as:
ERM programs are most valuable in times of disruptive change or when organizations are faced with an urgent need to do something ‘different’ in the marketplace to preserve or add value. We believe that now is the time where the current market requires Boards and management teams to take another look at their ERM programs, no matter where they are in their planning process.
Find out more about risks and ERM programs in the article, and feel free to reach out to us for a quick discussion.