Crowe specialists weigh in on the latest issues in risk management and the data solutions they’ve created with clients.
At the 2022 TXBizCon, we heard from two Crowe consulting specialists on emerging issues in risk management: Tim Bruhn in healthcare internal audit and Louise Garrett in healthcare risk. Here are the highlights from their session.
Current issues in risk management
Businesses today are not immune to wide-ranging risk management issues, including scenarios when:
- Leadership expects to reduce costs and increase productivity, which places pressure on staff. Risk management processes tend to be manual and intensive, and they take a lot of time.
- The risk landscape always is changing, which means there's a lot to cover.
- The data sources and intel often are disparate and difficult to integrate, which creates an extra layer of confusion.
- Industry technology is expanding and being upgraded, but not as much in the area of risk management.
How can a risk management department keep up?
Digital transformation
Crowe Analytics Advisor, our data analytics application, can help you anticipate issues before they happen by regulating, managing, and analyzing data. The tool can help through:
- Regular data feeds and access
- Risk indicator analytics and performance control testing to empower teams
- Automation and monitoring for continual improvement
Through grouping data and expanding the monitoring activities around risk, your organization can reduce confusion and increase efficiency.
