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Risk management “continues to head for the Cloud” finds Sword Active Risk survey

by Brian Sims

Risk management solutions specialist Sword Active Risk has published the findings of its annual Global Customer Survey. Responses emanated from over 100 risk managers in companies worldwide across highly risk-aware industry sectors, and included customers in the Australia and New Zealand region. One of the key findings is that risk has now reached a tipping point where Cloud is fast becoming the preferred option for risk-mature organisations.

In the UK, nearly 60% of companies are looking to move to the Cloud for risk management. In the US that figure is 41%, while in Australia/New Zealand there’s an overwhelming groundswell towards the Cloud, with a massive 93% of risk managers stating that it’s the direction in which they’re now moving.

Keith Ricketts, vice-president of marketing at Sword Active Risk, commented: “This move towards the Cloud comes as little surprise to us, as we’ve seen the trend developing in the last few years. Businesses are now realising that they no longer need to tie up valuable IT resource, but are instead able to harness the power of the Cloud.”

Ricketts continued: “Anecdotal evidence shows us that enterprises with a high level of risk maturity are more likely to favour Cloud or hosted solutions along with smaller organisations that move to the Cloud rather than use internal IT resource.  Increasingly, as organisations extend their supply chains to stay competitive and meet global demand, a Cloud-based solution provides increased resilience. Not only are enterprises able to extend their risk management solution out to their supply chain via the Cloud, but such solutions also ensure availability, integrity and confidentiality with end-to-end security that protects data.”

The Global Customer Survey shows that risk continues to rise up the corporate agenda. In the UK, 93% of risk managers report that risk has increased in importance and profile within their organisation in the last 12 months. In the Australia and New Zealand region, 86% state that risk had increased in importance while in the US the corresponding figure is 75%.

As previously reported, geopolitical risk is seen as one of the top areas for concern, followed by cyber security and market conditions/economic risk.

*For more details about the Global Customer Survey visit: http://www.sword-activerisk.com/risk-management-continues-to-move-to-the-cloud-according-to-latest-sword-active-risk-survey/ and http://www.sword-activerisk.com/risk-management-continues-to-climb-up-the-corporate-agenda-as-geopolitical-and-supply-chain-risk-soar/

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