BIIA’s editor-in-chief has recently met with Steven R. Culp, Senior Management Director of Accenture Financial & Risk Services to discuss the findings of the Accenture’s Global Risk Management Study 2013.
The most significant message from this study is that the role of risk management is rapidly changing. This will have implications for suppliers of risk management tools and solutions. According to the study 98% of firms surveyed give a higher priority to risk management now than they did two years ago, and that 81% of risk managers discuss risk regularly with their company’s board of directors. At one time, risk management in many companies could be described as “the department that says no”. Today one could characterize risk management more as “the department that enables execution”. BIIA has observed this trend for some time where risk management works hand-in-hand with sales. Many companies appear to organize around customers (being customer centric) focusing on profitability and knowing every aspect of the business and supply chain that impacts the end-user.
The story which unfolds in Steve Culp’s study is worth reading for information professionals simply because there will be significant implications for information solutions providers.
To read a summary of the interview click on this link: 2014-01-06 Steve Culp on Risk Management