Digital risk is creating a hyperconnected business world — and a fragmented, uneven approach to risk management. Organizations face an urgent need to mature digital risk management to keep pace.
Defined as the set of risks manifested in business operations by digital products, services, and supporting processes — digital risk continues to proliferate, impacting every area of the business. AuditBoard’s survey of 130+ risk leaders revealed that most organizations lack visibility on these risks, as the purchase/use of third-party services and technologies often happens as “shadow IT,” outside the direct control of centralized IT functions.
Authored by John Wheeler, Senior Advisor of Risk and Technology at AuditBoard and former Gartner analyst, Digital Risk Report 2023: Pervasive Risk, Persistent Fragmentation, and Accelerating Technology Investment examines how digital transformation creates digital risk while offering its most compelling solution. Indeed, 93% of respondents anticipate increasing or maintaining technology investments in the areas of performance, resilience, assurance, and compliance in the next 18-24 months.
Download the full report for actionable insights on:
- How organizations are managing digital risk, including responsible functions, technologies being used, integration with broader risk management, and use of reportable metrics — which continue to lag in 8 out of 10 organizations, despite impending regulations mandating their use.
- How varying maturity levels across performance, resilience, assurance, and compliance create a “business resilience gap” where risk management capacity fails to meet evolving demands.
- Strategies for advancing maturity and unlocking value creation opportunities via technologies that integrate risk management across the organization, enable continuous monitoring and timely surfacing of issues, and set the stage for ongoing improvement.