Tag: risk management

Having a backup plan is a given not a nice-to-have. Whether you are automatically archiving historical client data or testing a new cybersecurity strategy, backup planning helps to keep the business running smoothly. However, simply being prepared is not enough – your business must be resilient.

The 4th Industrial Revolution (4IR) and the rate of technological change presents a unique challenge for CFOs who have the complex task of ensuring alignment between finance and the entire organisation on the road to digital transformation.

By 2030, Bloomberg expects artificial intelligence (AI) will account for as much as $15.7 trillion of the world economy. Of that figure, an estimated $6.6 trillion will come from businesses’ ability to be more efficient via automation and freeing their workforces to work on other tasks.

Entrepreneurs invest a lot of energy into getting their businesses off the ground and finding ways to differentiate themselves from their competitors. Unfortunately, due to time constraints, few put the same dedicated effort into finding the best insurance solution for their business.

In an environment where everything is changing - the way we work, travel, meet and shop - the world of credit is adapting quickly. The pandemic isn’t the sole cause of this, as fintechs have been upending traditional banking models for years. Here’s what we see for next year.

Data could be the most valuable asset for any company in a data-driven future. CIOs will have to build frameworks and create methods to discover and realise the potential of their data. This will be crucial to increase the value provided to all stakeholders, and to secure the future success.

Storing data securely and using it appropriately should not be merely a compliance-driven practice; it should be a cornerstone of any business. Not only does appropriate data protection and use protect your business from risk, but it is also key to building customer trust, without which, no business can survive for any reasonable length of time.

Whilst most corporations across the world have had to make drastic changes to their business operations as a result of the COVID-19 pandemic, many business leaders believe that the disruptions caused by the pandemic have inadvertently introduced more advantages than disadvantages. 

The trouble with following conventional wisdom is that it is always changing. Proximity to the branch matters. Branches are closing. Multi-channel. Omni-channel. Digital first. Digital only. Mobile first. Mobile only. Friction is bad for customer experience (CX).

Failure to implement effective compliance and accountability systems is costing the public sector dearly and making supply chains fertile ground for corruption. If the South African government is serious about stopping the rot, strict measures need to be introduced in state departments and safeguards against cyberattacks significantly improved.