Technology has become increasingly central to all aspects of today’s business environment, failure of increasingly complex IT systems and processes has wide ranging consequences on all aspects of the business. The risk exposure presented by technology is often not factored into the company’s risk planning and in many cases inappropriate technology, deployed initially for a simple application, has been leveraged to provide business critical functions without first considering the wider risk implications.
It is no longer sufficient to only associate Technology risk with I.T. systems failure. Technology Risk appears in many different forms, each having potentially critical impacts on the business. Additional to systems failure, other areas of Technology risk include: Operational sustainability, staff risk (how to accumulate and disseminate knowledge), customer satisfaction risk, security risk, data loss, digital supply chain risk, service level failure and external disaster events.
We understand and appreciate what’s important to your business and the advice we provide is always tailored to your specific needs and industry demands. Our Enterprise Cyber Resilience or IT Review and Diagnostic services can help.
Implications for the occurrence of such events are widespread. Technology failures are often not contained to IT, other business groups are severely impacted and the effects are often felt externally by both customers and commercial partners. Losses are more than economic when public disclosure of such incidents damages the reputation of the enterprise and product brand equity, often leading to increased future regulatory scrutiny. Finally, failure to account for the business consequences of Technology risk doesn’t just expose the failings of IT management, but also the broader business level management.
In other words, Technology Risk is not simply a IT issue, it’s a business issue and as such Technology Risk becomes part of Business Risk with serious consequences for the strategic planning processes across the whole organisation. The management of technology risk must therefore be integrated into the broader corporate strategy so that risk can be mitigated in a manner that is appropriate to the business and cost-effective decisions can be made that deliver the necessary IT services to compete successfully.
Management of technology is often perceived as a daunting task for non-technical managers and directors, but as we understand both technology and business we are uniquely placed to help your business assess, manage and plan so that Technology Risk, and therefore Business Risk, can be reduced.
Our methodologies do not assume that you will retain our services through remediation or implementation, however we will provide assistance and advice on the management of this process as required.
All of our consultants combine technology qualifications with years of industry experience and each partner level consultant has been awarded a globally recognised MBA from a leading business school. Beyond Technology has been operating in Australia since 1992, and running its consulting business for over eighteen years. Throughout this period it has maintained a positive growth outlook and has been steadily growing its reputation and client base.
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