The dizzying pace of complexity, immediate ramifications of reputational threats and the correlation between risk management and bottom-line performance are all reasons for executives, and finance in particular, to give the concept of enterprise risk management new attention.
How do modern finance leaders view, navigate and manage enterprise risk with data? Dun & Bradstreet surveyed global finance leaders across industries and business types and uncovered the following 3 trends:
- THE ENTERPRISE RISK & STRATEGY DISCONNECT: Finance leaders are using data and managing risk programs today, but over 65% of finance leaders say there’s a missing link between risk and strategy.
- THE RISKS OF THE USE AND MISUSE OF DATA: Up to 50% of the data used to manage modern risk is disconnected. Only 15% of leaders are confident about the quality of their data.
- RISKY RELATIONSHIPS: Only 20% of finance leaders say the data they use to manage risk is fully integrated and shared.