AuditBoard, an AI-powered global platform for connected risk, has launched its new Scenario Planning, a solution designed to empower executive leaders and risk teams to shift their focus from reactive reporting to proactive anticipation, enabling them to make data-driven business decisions with confidence in an increasingly complex risk environment.
Global supply chain, economic, and geopolitical landscapes are more volatile than ever, and risks are no longer easily predictable. As a result, teams are facing increased pressure to manage this volatility. In fact, AuditBoard’s recent Risk intelligence report found 70 percent of respondents expect to increase risk management staffing over the next two years, and 40 percent plan to increase cybersecurity staffing. To thrive in this era of hypervolatility, risk management teams must be able to efficiently assess a wide range of future possibilities.
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Scenario Planning directly addresses this need. The solution enables risk teams to establish a universe of potential scenarios, accelerating strategic decision-making by modeling the likelihood and impact of risk events. By leveraging these capabilities, leaders can effectively quantify risk, test thousands of potential outcomes, and gain clear visibility into a range of possibilities, thereby establishing a clear blueprint for how to respond if critical risk events unfold.
“Scenario Planning will allow our team to rigorously test ‘what-if’ scenarios and transform uncertainty into actionable insights,” said Senior Manager of Internal Audit at a global medical device company. “This will equip our risk owners across the business to provide executive leadership with the confidence and clear direction needed to ensure operational continuity and success.”
“In today’s world, you can’t just report on risks; you have to anticipate what may impact your organization’s goals and objectives,” said Happy Wang, Chief Product and Technology Officer at AuditBoard. “Scenario Planning enables enterprises to ensure continuity in operations and improve competitive positioning, reducing bottom-line costs and increasing revenue.”
For more information about Scenario Planning, stop by the AuditBoard booth (#17) at the RIMS ERM conference or visit AuditBoard.com.
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