Risk Management Continues to Move to the Cloud

Leading global organizations look to the Cloud to extend risk across the enterprise and out to supply chains to mitigate increased geopolitical and cybersecurity risk.

Maidenhead, UK. 25 October 2017 – Sword GRC, a supplier of specialist risk management software and services, has published the latest findings from its annual Active Risk Manager (ARM) Global Customer Survey.  Responses came from over 100 Risk Managers in companies worldwide across highly risk-aware industry sectors and included ARM customers in the Australia and New Zealand region. One of the key findings was that Risk has now reached a tipping point where Cloud is fast becoming the preferred option for risk-mature organizations. In the UK nearly 60% of companies are looking to move to the Cloud for risk management, in the US it is 41%, while in Australia/New Zealand there is an overwhelming groundswell towards the Cloud, with a massive 93% of Risk Managers stating that it was the direction they were moving in.

Keith Ricketts, VP of Marketing at Sword Active Risk commented; “This move towards the Cloud is little surprise to us, we have seen the trend developing in the last few years. Businesses are now realising that they no longer need to tie up valuable IT resources, but are instead able to harness the power of the Cloud.”

Ricketts continued; “Anecdotal evidence shows us that enterprises with a high level of risk maturity are more likely to favour Cloud or hosted solutions along with smaller organizations that move to the Cloud rather than use internal IT resources.  Increasingly, as organizations extend their supply chains to stay competitive and meet global demand, a Cloud-based solution provides increased resilience. Not only are enterprises able to extend their Risk Management solution out to their supply chain via the Cloud, but such solutions also ensure availability, integrity, and confidentiality with end to end security that protects data.”

The Survey showed that Risk continues to rise up the corporate agenda. In the UK, 93% of Risk Managers reported that risk has increased in importance and profile within their organization in the last 12 months.  In Australia and New Zealand, 86% said that risk had increased in importance while in the US the figure was 75%.  As previously reported, geopolitical risk is seen as one of the top areas for concern, and this is also true for Australia and New Zealand, followed by cybersecurity and market conditions/economic risk.

Active Risk Manager is the market-leading Enterprise Risk Management platform for global organizations in sectors such as energy, oil & gas, critical national infrastructure, construction, transportation, aerospace, and defence.

Comments are closed.