What is Enterprise Risk Management
Every business has an objective, whether it be to sell clothing, make food, or manufacture medicine. But in every business there is risk. What if the clothing does not sell in the Miami market? What if the food goes bad? What if the medicine has harmful side-effects? In order to avoid these risks and maintain the business objective, a ERM or enterprise risk management system must be in place. This plan of action is designed to avoid and prevent risk in business when possible. This plan can include seizing opportunities that would benefit a business objective. An ERM plan evaluates these factors based on value and impact. For example, a social media platform may find that investing in cyber security services would prevent the risk of their company having security breach and losing the faith of users and shareholders. With evidence like this, a business can closely monitor potentially risky events and circumstances surrounding their business and as a result–determine a response strategy. ERM plans collect a lot of data, and organize it into useful information that can be enacted into a company’s business model. GLAC consulting is the extra help you need to determine whether your ERM plan is effective or needs improvement.
Why is enterprise risk management so important to your company?
Just like how a social media company may want to invest in cyber security services, so too may other companies involved in storing data remotely or on a cloud-based platform. Insights like this can help a company avoid bankruptcy and more–all thanks to the successful data collected from an enterprise risk management program. Greater Miami is home to numerous startups and digital marketing agencies of all kinds. These companies store most of their information on servers and computers. What risks do you think this poses to their company? An ERM program can help them discover what to prepare their company for, whether it be a security breach or a server collapse. Whatsmore, an enterprise risk management program is only effective if you monitor results. This is where GLAC Consulting comes in. We help monitor how your risk management is performing on the municipal and state level, be it Miami, FL or Mexico City.
Explore GLAC Consulting services today to see how we can help your company succeed. We can curtail a breach in cybersecurity, but first you need the right people to monitor your enterprise risk management plan. This is where we come in. Call us today at +52 (55) 50811970 for a personal consultation about your business goals. Do not let business risk catch you off guard. Make sure you have the right team of business professionals on your side so that your business goals can exceed your expectations. Find the right cyber security services to protect your company from hackers. Your Miami business has never been so safe than under the eye of GLAC Consulting.