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As economies and world markets continue to change, businesses are increasingly adopting cost-cutting, automation and risk management procedures. The key to cutting costs is through automation and standardization of data; both are critical pieces of your risk management plan. Standardizing and automating of your processes and data reduces the risk of "surprise events" that could be your company's undoing. This presentation shows you how participating in an industry committee to develop these standards gives you the upper hand against your competitors and helps you reduce your risk.