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Organizations today cannot eliminate risk completely. Rather, they need to be proactive in assessing and managing risk to their own advantage. Managing risk requires adherence to frameworks and regulations such as ISO31000 Standard, AS/NZS4360 Standard, King III Codes, Basel II, Solvency II, Sarbanes-Oxley, COSO, and COBIT. Cura’s ERM Solution uniquely meets these needs across all departments in organizations.
Some of the key challenges organizations face today when implementing ERM include applying a common risk language, linking ERM to strategy, reporting, accountability, buy-in, and accurate measurement. At Cura, we view risk not only as a negative but also as an opportunity for organizations. Managing risk can be done successfully if done with the right information system, culture, strategic and tactical processes.