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Today is the era of volatility, it impacts all businesses regardless of industry or geography forcing organization to adapt swiftly and dynamically. This is the moment for which risk management was made.
Risk is dynamic
The purpose of risk management is not to remove all risks but to determine which risks are worth taking, and at what cost, in pursuit of strategic goals and business objectives. Most organizations still manage risk in silo and static approach that might lead to blind spots, high compliance costs and opportunity loss.
Business leaders need to manage risk in a dynamic, proactive and integrated manner so, they can address a complex risk environment that includes cyber threats, market volatility and regulatory changes.
Technology Advancements
Crowe and SAS work together to transform fragmented, periodic risk analysis into an objective-centric platform using data analytics and machine learning. Some of our unique offerings are:
1. Immediate Benefits for Organizations
Picture 1: SAS GCM Modules
- Comprehensive coverage: SAS platform has unique offering compared to other similar solution. It integrates advance data analytic capability with 6 (six) integrated core modules of Governance, Risk and Compliance (GRC).
- Automated workflows e.g., Policy lifecycle management, incident tracking with automatic escalation, and continuous monitoring.
- Data and technology integration e.g., Advanced analytics for risk exposure, machine learning predicts emerging threats through pattern recognition, and process mining reveals workflow gaps to optimize control effectiveness.
2. Quantifiable Business Value
- Cost Reduction: Eliminate duplicate processes, reduce audit preparation time by 40-60%, reallocate staff to strategic activities.
- Risk Management: Early warning systems with built-in ICOFR, COSO, and ISO frameworks prevent regulatory violations.
- Executive Reporting: Real-time risk indicators and board-level dashboards support strategic decision-making.
3. Designed for Results
- Smart Scoping: Data analytics automatically identify material risk areas, focusing resources where they matter most.
- Comprehensive Policy Management: End-to-end workflow ensures policies are created, communicated, monitored, and updated systematically.
- Integrated Incident Management: Capture, track, and resolve compliance issues with full audit trails and automated notifications.
- Streamlined Audit Management: Plan audits, document testing, and manage remediation within a single platform that external auditors can access directly.
How Crowe Can Help
As a SAS partner, Crowe provides end-to-end implementation and support for SAS Risk Management solution including Fraud, Credit Risk, Governance and Compliance Manager. Our team combines deep regulatory expertise with technical implementation experience to ensure successful deployment and adoption.