Best ERM Software Tools for Enterprise Risk Management
Back in August 2021, fast food giant KFC failed to meet their meat demands and had to take down menu items due to supply chain disruptions. In 2018, they shut down 900 UK outlets after delivery issues – all due to poor risk visibility. While such incidents cannot be fully avoided, it can be minimized…
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Jan 16, 2025
What Is Risk Control: Types, Example & Identification
Risk control is important for any kind of business. It safeguards your company’s assets while maintaining sustainable growth. But how effectively are you managing risks in your business? Are you following the essential control measures to eliminate and manage your cyber threats and vulnerabilities? The current threat landscape is volatile, and mastering how your risk…
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Jan 16, 2025
7 Major Risks Of Open-Source Software & Mitigation Strategies
Open source software (OSS) has gained popularity due to its accessibility, rich functionality, cost-effectiveness, and flexibility. These advantages make OSS an attractive choice for many, but it is also considered an inherently riskier option. For example, Gilad David Maayan, Security Today, notes: “Open-source is a bit more chaotic, with contributors adding new features and improving…
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Jan 16, 2025
Cyber Security Risk Assessments: How to Protect Your Business
Digital assets and data are the lifeblood of every organization today. But as with everything precious, they’re constantly at risk of being unlawfully accessed, tampered with, stolen, or transmitted. Such malicious actions can not only cause irreparable harm and damage to the organization but can severely hamper future business prospects. Cyber risk assessments are periodical…
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Jan 16, 2025
What Is Vendor Risk Management (VRM)?
When a company works with a third party, vendors often gain access to sensitive data that is processed on behalf of the company. This compounds the risk of exposure and therefore becomes an extension of their compliance needs. Because of this, businesses consider vendor risk management as a crucial point of contention when developing a…
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Jan 11, 2025
A Starter’s Guide To Strategic Risk Management
James Lam Associates, a consulting firm for risk management that works closely with CISOs, CROs, CFOs, and CEOs, conducted a study on the principal reason organizations suffer financial distress. The research found that 61% of incidents were due to strategic risks, 30% to operational risks, and 9% to financial risks. In spite of such high…
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Jan 09, 2025