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Recent economic volatility has given risk management a new focus and eminence. The strongest companies are the ones that are able and willing to adapt, who actively integrate risk management as a critical factor at all levels of management process from strategy to success.
Regrettably, organizations have been hampered by pitfalls in traditional approaches to risk management. Seen as a back-office function, risk management may be limited to annual assessments that are not integrated with strategic and operational planning. Without the ability to apply a common taxonomy and weighting for different risk categories, organizations are forced to manage risk in functional silos, unable to see the interconnected nature of multiple risk events. Internal control and external risk transfer methods are largely manual, leaving firms open to unnecessary exposure.
By combining key capabilities of its market-leading EPM and GRC applications, Oracle delivers a solution that facilitates the establishment of clear criteria for an organization's risk appetite and institutes a disciplined process for the on! going monitoring, evaluation, and control of risk. The combined solution identifies opportunities for value creation while also protecting against potential threats.
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