TECHNOLOGY
faced last year . More than half ( 56 %) of respondents indicated they don ' t have realtime alerting solutions in place today , but 62 % plan to implement or expand their use of such tools , while 54 % plan to increase investment over the next 12 months .
The research found that many risk leaders are taking too narrow a view of the systemic risks their organisations face . Business risk will become more , not less , complicated to manage in the future , and fewer than a third of risk leaders completely agree that risks to their business can come from anywhere . Additionally , the research found that risk strategies have significantly advanced over the past few years but still have a long way to go . Just 36 % of respondents have a C-suite champion leading risk management today .
Cybersecurity and real-time alerting capabilities will also be major areas of focus going forward , according to Forrester . Respondents were most likely to cite cyber risk tools and real-time alerting capabilities as the most critical features their next risk management platform must include .
Finally , the report found that successful ERM implementations are driven by aligned leadership , vision and technology . Organisations with highly effective ERM strategies were 27 % more likely to have a C-suite leader for ERM , compared to those from lower-maturity organisations . C-suite champions are empowered to work across organisational silos and coordinate with other business leaders .
The survey also found that only 8 % of respondents reported that their current ERM strategies are effective or very practical across all five capabilities surveyed , including identifying , evaluating , monitoring , responding to , and communicating about , risk .
126 May 2023