Here is an article by Julie Lev, Senior Manage for Product Marketing as she discussed "Why cloud ERP and risk management are a winning combination"
If one thing has become
abundantly clear over the past two years, it’s that companies have no choice
but to plan for the unexpected. Business leaders understand that uncertainty
and disruption will always exist. We can’t always predict the next social or
environmental driver, disruptive new business model, or emerging competitor—but we can control our
responses and time-to-act.
The real challenge is how
to leverage technology to plan and prepare.
The most successful
companies know that today’s business strategies center on preparedness and the
ability to continuously innovate. The best business plans are those that can
quickly pivot in response to evolving markets, business models, and
regulations. These companies understand the all-too-important connection
between their enterprise
resource planning (ERP) solution and their ability to make bold decisions to
secure their companies’ continuity, competitive advantage, and financial
viability. This is where a
modern approach to ERP elevates a company’s ability to sustain itself.
However, a modern approach to ERP must come with a modern approach to risk
What does modern risk
management look like?
A modern approach to risk
management is where security, risk, and audit controls are embedded in critical
ERP processes, connecting IT, finance, operations, and audit teams so they can
support ongoing change while maintaining control. This enables a continuous,
collaborative cycle for risk prevention, detection, and response. And, it gives
companies the confidence to make game-changing moves. Going global, adopting a
new business model, supporting an increasingly remote workforce, or complying
with evolving regulatory mandates won’t produce the hesitation that prevents
Cloud ERP and cloud risk
management: A winning combination
Even the most agile,
forward-thinking companies are challenged by the changing regulations and
ever-evolving cyber threats which compromise the security of financial process
and underlying business operations. Increasing amounts and sources of data,
coupled with an expanding remote workforce, adds to the complexity—amplifying existing
vulnerabilities and introducing new risks.
But data can work to a
company’s advantage and drive better decisions to help uncover insights. A
modern approach to risk management is the optimal way to secure, manage, and
analyze that data. A cloud ERP coupled with built-in
cloud risk management give companies the right framework to grow,
comply, and stay secure.