The Village View

Thursday, May 24, 2007

Tools and tips for enterprise risk management

Enterprise risk management is one of those buzzwords that has carved out more corporate mind share in recent years. Executives have always been focused on managing risk, but the process has been "from a reactive exposure-by-exposure standpoint or a silo approach," according to some new guidance from the Institute of Management Accountants (IMA). But in today's climate, most enterprises would be better off with a "proactive, integrated, across-the organization perspective." A holistic view of risk makes a lot of sense, especially from a large branding perspective. In this view, Sarbanes-Oxley-related risk is one set of "risks that exists under a larger umbrella."

This is very interesting to read on another blog, as I spend my days, and evenings, preaching the holistic view of, not just risk, but GRC in general. Understand how the risk, regulation or policy you're trying to manage or monitor today fits in with your overall strategy and needs moving forward. Put policies, structures and systems in place that allow you to not only become compliant or identify risks, but stay compliant and monitor risks, both on an ongoing basis. Many of the folks I'm talking to have been working to do exactly what it says up above, move from a reactive mode to a proactive one. Hopefully, that's where the SAP GRC solutions I'm doing biz dev for help out.

This post probably especially caught my eye because I have a customer call tomorrow that I've been preparing for to speak about SAP's ERM solution. Speaking of that call, I better hit that sack as my flight to Chicago was 2 hours delayed and I've got to get up early.

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