The key to proactive risk management is establishing a risk appetite framework approved by the board
Digitization is driving significant market disruption, particularly in the telecom industry, with telcos as service providers looking at launching new revenue streams to capture the exploding data opportunity in consumer and, lately to a large extent, in the enterprise segment.
Today robots pick-pack boxes in warehouses; assemble varied objects as small and delicate as smartphones and as large and complex as aircraft engines. Automation is making rapid inroads into IT and business processes, transforming human to system and system to system interactions. This raises a pertinent question for customers-why outsource when you can automate to get the cost advantage?
The Finance minister Arun Jaitley in his statement in Rajya Sabha said that during 2014-15, about Rs.6,337 crores was spent on CSR activities1. This number would only increase in the coming times with more companies beginning to report their CSR expenditure.
Organizations can combat cyber threats by building a robust framework for cyber governance. Boards, managements and CFOs need to not only devote more attention to this ever increasing risk, but also evaluate their corporate readiness for such attacks.
What are we seeing in the market?
Organizations have started realizing the value of establishing an effective contract management framework. The board of directors and CXOs recognize the direct impact of effective contract management on improving the bottom line and building strong relationships with customers and vendors.
The irreverent J K Galbraith once famously remarked that “the only useful purpose economic forecasting serves is to make astrology look respectable.”