Turbulences ahead - know your risks to be well prepared
The threat of risks is not only increasing because of internal factors such as breaches of the law due to a lack of control bodies or failed audits, but also due to external factors such as the current economic and political situation, increasing competitive intensity and changes in consumer behavior that are difficult to predict. Against this background, it is important to consider the unthinkable and evaluate possible crisis situations at an early stage. Further information must be obtained and detailed risk analyses and risk assessments carried out. In other words: Under which circumstances can which dangers occur and what are possibly problematic consequences for your company?
At the same time, a system with appropriate countermeasures must be designed. Who is informed when and how, the establishment of crisis centers, the definition of responsibilities in case of an emergency - all these factors can be planned calmly and carefully in advance of critical situations and, in the best case, digitized in software. Responding to a crisis situation with measures already worked out is active corporate protection with an "R": risk management.
But how do I as a risk manager establish secure risk management in my organization? For effective corporate protection, risks must be identified, evaluated and documented at an early stage. A software solution simplifies company-wide risk management and offers the opportunity to digitalize the risk management process in a central tool and to present it transparently. In the best case, the software supports not only risk managers but also those responsible for control or compliance in their operative activities. With an integrated risk management tool, you can manage your governance, risk and compliance processes safely and efficiently.