Organizations are under pressure to increase efficiency, boost productivity and leverage their agility to gain that elusive competitive edge. However, operating in an increasingly competitive environment, with greater compliance obligations and fighting against the rapid pace of change, this can be easier said than done.
As organizations seek competitive advantage, the changes required to adapt in the market causes the risk environment to become more complicated. For leaders in their fields, it causes pain that needs to be managed with the correct integrated risk management solution.
There’s value in integrated risk management
According to a report published by The Risk Institute, 50% of organizations have increased their risk management support and focus over the last two years, allocating additional funds to internal and external resources. It says:
“Previously risk management was only being done to meet regulatory requirements and to protect the firm against the negative effects of volatility in firms’ business environments. While these views are still a common practice, more firms recognize risk management as a source of both growth and value, and emphasize its use in certain, if not all, areas of the firm. Consistent with these views, firms are moving toward a more centralized approach to risk management.”
Time to take a strategic approach to Integrated Risk Management
To thrive in an increasingly competitive landscape, many organizations are taking a more strategic approach, integrating risk management solutions improve their decision-making. According to Gartner, “By 2021, more than 50% of large enterprises will use an IRM (integrated risk management) solution set to provide better decision-making capabilities to propel digital business.”
Organizations benefit from an IRM solution because they combine technology, processes and data to fulfil the objective of enabling the simplification, automation and integration of strategic, operational and IT risk management (ITRM). Integrated risk management is of such strategic importance that Gartner forecasts the market to grow at a 13.4% compound annual growth rate (CAGR) to reach $7.3 billion by 2020.
SureCloud named an IRM solutions provider
In its report, “Competitive Landscape: Integrated Risk Management Landscape Solutions”, Gartner references SureCloud as an IRM solutions provider.
“IRM solution providers: These offer a broader set of functionalities that address multiple use cases within IRM. Some vendors are more established than others in terms of capabilities, revenue and market presence. However, there are a growing number of smaller IRM solution providers that are successfully competing with established providers by trying to better address customer needs than the bigger providers. For example, providers are using transparent and competitive pricing, flexible licensing model, and a shorter and easier implementation process.”
As a growing business with 12 years’ experience, we offer the most configurable, cloud-based enterprise platform for integrated risk management, SaaS applications and cyber security services and solutions. Over 400 organizations trust us to ensure their security and regulatory compliance. Highly responsive to client and market feedback, we prefer to partner with our customers, which is reflected in our 98% GRC renewal rate.
“SureCloud does a lot more than ensuring we have ticks in all our compliance boxes. The quality of information it delivers enables us to make better informed decisions about relationships with our partners. This helps us to provide the best possible secure service to our customers – something we are passionate about – and to protect the Shop Direct brand.”
Chris McAteer, Director of Compliance and Operational Risk at Shop Direct Group
Discover more about the SureCloud Platform here.