Business today requires agility and efficiency to stay competitive. Organizations must respond rapidly to changing conditions, while managing financial and human capital costs.
Compliance processes often work against business agility and efficiency. Requirements and initiatives bear down on the business, and become burdensome and inflexible. When managed manually and/or across numerous siloed business units,compliance can slow down and encumber the business.
Risk can be a burden or a tool that enhances business performance. Healthy risktaking drives business; however, organizations must understand whether they are taking the right risk, if risk is being managed effectively, and how to monitor risk. A cavalier and uncontrolled approach to risk will result in disaster - even for companies with strong brands.
Poorly managed risk and compliance generates complexity, redundancy, and failure. In this instance, the organization is not thinking about how controls and processes.
