Enterprise risk management (ERM) tends to be thought of as something only big companies need (or can afford). But it’s not just a megacorp thing—it can protect assets; rescue your company from unforeseen catastrophes, like a supplier going out of business or an epic PR crisis; guard against weak links in your supply chain; and more. Done right, an ERM program can also make decision making smarter, more strategic and more sharply focused on key success factors.
And it doesn’t have to be a major undertaking. Our new report, ERM: Not Just for the Big Guys, shows how midsize businesses can benefit from ERM and how to implement a program cost effectively with a plan that’s right-sized for your company.
How can you get the right fit? The report covers this checklist:
- Give the CFO the lead
- Get support from the top
- Take a step-by-step approach
- Provide the right tools and frameworks
- Integrate ERM into decision making
- Identify key performance indicators
The thought of yet another program when you’re already running lean may make you want to run the other way. You’re not alone: in a recent CFO magazine survey, participants said a commitment of time and resources was the single biggest impediment to implementing ERM.
Think about what you could gain—and what you might lose if unseen risks arise and you don’t have a plan. ERM: Not Just for the Big Guys shows how you can get started sensibly, one step at a time.
Other RoseRyan intelligence reports are available on topics such as M&A due diligence, acing your IPO filing, debt financing and revenue recognition.