Risk Management
The Challenges:
Every organization faces many types of risks. The risks can be operational in nature - resulting from infrastructure failure due to events such as an earthquake or fire, partner or supplier risks from transaction failure or fraud. You also face compliance risks when industry regulations are not met. Risk management is the process of accessing, monitoring and mitigating (or transferring) these risks to an acceptable level for the business, which for many mission-critical processes means zero risk tolerance.
To manage risk effectively, you need an accurate and timely flow of internal, customer and partner information and activities. The timeliness of data delivery, the quality of the data sent, and the efficiency of the tools to monitor, manage and respond to events can dictate how well your company manages risk. For example, implementing real-time liquidity management in financial services or real-time fraud detection in telecommunications will reduce losses and possible fines. Companies that can implement more flexible and responsive IT systems and risk management practices will gain competitive advantage and minimize the risks inherent in the business.
The Solutions:
Progress Software provides the following solutions to help your organization monitor, manage and mitigate risk:
