risk managers why spreadsheets are failing you
DESCRIPTION
While spreadsheets are still an excellent tool for data manipulation and one-dimensional analysis, they fall significantly short of delivering the capabilities a risk manager really needs to analyze trends and see the relationships the job entails.TRANSCRIPT
WEBSITE: http://globalriskcommunity.com/EMAIL: [email protected]
WEBSITE: http://globalriskcommunity.com/EMAIL: [email protected]
Risk Managers: Why Spreadsheets are Failing You
by Steven Minsky
Best Content from GlobalRisk Community
WEBSITE: http://globalriskcommunity.com/EMAIL: [email protected]
Risk Managers: Why Spreadsheets are Failing You
by Steven Minsky
The limitations of spreadsheets verses ERM software are systemic and largely stem from the way they manage data, their inability to easily show relationships, and their general inaccessibility.
WEBSITE: http://globalriskcommunity.com/EMAIL: [email protected]
Impractical
Risk management is an iterative process that requires collecting a great deal of information to glean the necessary insights.
Risk management is an iterative process that requires collecting a great deal of information to glean the necessary insights.
Risk Managers: Why Spreadsheets are Failing You
by Steven Minsky
WEBSITE: http://globalriskcommunity.com/EMAIL: [email protected]
Relationships
Risk analysis is not a static process; it's dynamic and highly strategic.
Assessment structure, information, and the people involved evolve over time as management‘s requirements and priorities change.
Spreadsheets, however, are ridged. With each change to a spreadsheet, links between information are lost making it very difficult to analyze relationships over time.
Without these relationships, how will you link risks and their controls to your organization's strategic goals?
Risk Managers: Why Spreadsheets are Failing You
by Steven Minsky
WEBSITE: http://globalriskcommunity.com/EMAIL: [email protected]
Spreadsheets offer limited access to past and current data, you cannot easily aggregate and dissect information, and they require a high level of technical knowledge to compare data over time.
Simply put, spreadsheets prevent an understanding of the dependencies and consequences between departments, processes, and strategic goals.
Risk Managers: Why Spreadsheets are Failing You
by Steven Minsky
WEBSITE: http://globalriskcommunity.com/EMAIL: [email protected]
Risk Managers: Why Spreadsheets are Failing You
By Steven Minsky
Inaccessible Risk management isn't something that can be done in isolation. The information risk managers collect and analyze needs to be accessible to the rest of the organization.
Spreadsheets, however, aren't accessible to business intelligence software, to management, or to other support functions that could benefit from that data.
WEBSITE: http://globalriskcommunity.com/EMAIL: [email protected]
The result is a risk management function without support from management and an organization with an abundance of duplicate tests, controls, and information.
Risk managers need to be able to aggregate and access information across business silos and multiple levels in order to engage the right people with the right information.
Risk Managers: Why Spreadsheets are Failing You
by Steven Minsky
Inaccessible
WEBSITE: http://globalriskcommunity.com/EMAIL: [email protected]
The Solution
Risk management requires dynamic tools that can organize and link data automatically, analyze dependencies and consequences enterprise-wide, and be accessed by decision makers and other silos.
Risk management requires dynamic tools that can organize and link data automatically, analyze dependencies and consequences enterprise-wide, and be accessed by decision makers and other silos.
Risk Managers: Why Spreadsheets are Failing You
by Steven Minsky
WEBSITE: http://globalriskcommunity.com/EMAIL: [email protected]
Sign up NOW using this personal invitation linkhttp://globalriskcommunity.com/?xgi=0QLXOKRG13ye0O
PS: Below are just some of our popular content and discussions published on our site: (accessible only for members. Registration is Free and takes only 1 minute). Employment trends and Salary Insightshttp://globalriskcommunity.com/profiles/blogs/2013-salary-insights Case studies, whitepapers and free research of the week:http://globalriskcommunity.com/profiles/blogs/case-studies-whitepapers-and Complimentary Trade Magazine Subscriptions & Technical Documents:http://globalriskcommunity.com/profiles/blogs/trademagazines
Join our community to get new business, new contacts, jobs, latest news and to exchange ideas