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2. Enterprises are becoming more integrated
with their partners, suppliers, and vendors
throughout international marketplaces.
Rising digitization is driving the necessity
for investing in risk management
technologies which is becoming more
apparent across industrial groups.
The Six Leading Enterprise Risk Management Trends in 2023

4. Risk Management and Digital Transformation Integration
Organizations are progressively employing integrated GRC software-based risk management solutions such as
Predict360 to ease risk management activities. An integrated governance framework can assist by reconciling
strategy, staff, procedures, and technological objectives throughout the value chain.
Greater Utilization of Risk Appetite Statements
Risk management trends in 2023 reflect that organizations
encounter numerous challenges in executing a successful
risk appetite statement. It is believed by some executives
that risk appetite statements can bind their capability to
pursue emerging opportunities, whereas others are worried
that poorly worded statements could be misinterpreted as
overlooking unacceptable practices.

5. Risk Mitigation and Assessment Techniques are Proliferating
The resources available for actively evaluating and managing risks are improving. Internal and external risk
monitoring tools that contribute to the creation of risk intelligence which identifies recurring and new threats are
among the risk management trends in 2023.
Expanding Restrictions & Concerns about Data Privacy
This risk management trend in 2023 presumes that to maintain
compliance, organizations need to understand pertinent data
privacy laws and place efficient ways to manage risk-mitigating
tools in terms of ERM software. That is how organizations can
handle spontaneous distractions.

6. More Attention to Cybersecurity
This risk management trend suggests an approach that can
help financial organizations recognize vulnerabilities and
establish controls to find risk actors before any loss is incurred
due to cyber-attacks.
Artificial intelligence (AI) in GRC
Significance of this 2023 risk management trend can be
understood with the fact, that organizations are consistently
expanding their functional scope. Data security, compliance, and
privacy regulations are becoming unavoidable to reduce risks that
could cause financial losses and negatively influence business
operations. Therefore, enterprises can employ effective ERM
software to protect themselves from possible risks and threats.

7. Conclusion
Organizations are consistently improving their risk management strategies to deal with the evolving business
landscape and employ surrounding vulnerabilities to pursue relevance. Choosing a thriving and holistic enterprise
risk management software is the correct solution to staying abreast in the financial sector.
Predict360 ERM is a best-in-class solution to all risk-related
challenges. It enables corporate visibility and facilitates
enterprise risk management and compliance professionals
to evaluate, manage, and decrease risks. It aids risk
stakeholders with a comprehensive platform that includes
managerial dashboards, automated analytics, and risk
monitoring to keep a check on all categories of
risk-related information.