Risk managers why spreadsheets are failing you

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Risk Managers: Why Spreadsheets
are Failing You
by Steven Minsky
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Risk Managers: Why Spreadsheets are Failing You
by Steven Minsky
The limitations of spreadsheets
verses ERM software are systemic
and largely stem from the way
they manage data, their inability
to easily show relationships, and
their general inaccessibility.

Impractical
Risk management is an iterative
process that requires collecting a great
deal of information to glean the
necessary insights.
Risk management is an iterative
process that requires collecting a great
deal of information to glean the
necessary insights.
by Steven Minsky

Relationships
Risk analysis is not a static process; it's dynamic and
highly strategic.
Assessment structure, information, and the people
involved evolve over time as management‘s
requirements and priorities change.
Spreadsheets, however, are ridged. With each change to
a spreadsheet, links between information are lost
making it very difficult to analyze relationships over time.
Without these relationships, how will you link risks and
their controls to your organization's strategic goals?
by Steven Minsky

Spreadsheets offer limited access to past
and current data, you cannot easily
aggregate and dissect information, and
they require a high level of technical
knowledge to compare data over time.
Simply put, spreadsheets prevent an
understanding of the dependencies and
consequences between departments,
processes, and strategic goals.
by Steven Minsky

Risk Managers: Why Spreadsheets are
Failing You
By Steven Minsky
Inaccessible
Risk management isn't something
that can be done in isolation. The
information risk managers collect
and analyze needs to be accessible
to the rest of the organization.
Spreadsheets, however, aren't
accessible to business intelligence
software, to management, or to
other support functions that could
benefit from that data.

The result is a risk management function
without support from management and an
organization with an abundance of
duplicate tests, controls, and information.
Risk managers need to be able to aggregate
and access information across business silos
and multiple levels in order to engage the
right people with the right information.
by Steven Minsky
Inaccessible

The Solution
Risk management requires dynamic tools that
can organize and link data automatically,
analyze dependencies and consequences
enterprise-wide, and be accessed by decision
makers and other silos.
Risk management requires dynamic tools that
can organize and link data automatically,
analyze dependencies and consequences
enterprise-wide, and be accessed by decision
makers and other silos.
by Steven Minsky

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Risk managers why spreadsheets are failing you

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