Digital Transformation

With newer technologies evolving with each day, there is a good opportunity for organizations to leverage them to achieve much more. The journey of embracing newer digital technologies is simply called Digital Transformation. Newer technologies could be moving their current infrastructure to cloud for instance or incorporating machine learning and artificial intelligence into their current programs or deploying continuous monitoring tools that track several of the key performance indicators (KPIs).

Transforming into a digital organization seems to be lucrative on one hand and is fraught with risks on the other.  A couple of decades ago, implementing a program such as ERP (Enterprise Resource Planning) was tremendously costly and only a few big ones could afford it. With increased penetration of internet and its speed, increased usage of mobile phones, the concept of cloud computing has garnered a lot of interest. Various vendors are offering ERP solutions on a subscription basis which smaller organizations can easily afford. Instead of spending money on large infrastructure and on the implementations, organizations now prefer to opt for subscription based models. These newer models seem to be win-win to both buyers and sellers in the following ways-

  1. Buyers can spend the money on their core strengths, R&D and in other areas
  2. Vendors are generating good revenue which was not witnessed with erstwhile on premise implementations

As more and more technologies are adapted, there are innumerable risks that have to be sufficiently addressed. Otherwise, the sole purpose of becoming more productive and profitable with Digital Transformation is lost and in fact plunges the organization into deeper levels of trouble. The solution to successful Digital Transformation lies in having a successful Integrated Risk Management (IRM) program in place. Successful IRM programs have the following characteristics-

  1. Ability to mitigate risks evolving from digital transformation
  2. Ability to integrate multiple risks in an organization on one platform
  3. Ability to flag risks instantaneously for rapid action and mitigation
  4. Ability to get together risk data from multiple legacy systems
  5. Ability to implement uniform risk management policies across the organization

We, at Integrade Solutions partner with organizations to achieve synergies out of an Integrated Risk Management. Our rich experience working with clients from various industries such as Banking, Finance, Insurance, Manufacturing, Health care will be perfect companions to build your robust risk management program. We help organizations in identifying potential areas of integration with respect to their risk management programs. From partnering with organizations on developing risk management frameworks, developing policies and procedures, to technology implementation on platforms such as RSA Archer, we provide end-to-end best in class services. 

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