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Information Technology (IT) Risk Diagnostic and Benchmarking

The reliance on IT systems by organisations is on an increasing trend and as a result organisations are becoming increasingly aware of the inherent risks from such reliance. These include breakdowns in supply chain information through to damaged customer relations due to data leakage. Understanding your technology risks and how they impact your business objectives is paramount.

Many organisations seem to have no real understanding (that is no formal IT Risk Assessment process is in place) of the technology risks they are facing and the potential impact on the business in case they crystallise. The pace of IT change, regulatory pressures and increasing dependency on IT also represent a significant challenge for companies in an effort to remain competitive and comply with existing regulations.

Peer group comparison provides insight into how other industries are managing their IT and helps to identify areas for improvement. PwC can compare your organisation’s IT risk profile against peers in key areas, quickly producing a benchmark of relative risk maturity against up to 600 other organisations.

If you are:

  • Not confident that technology risks within your organisation are properly identified and controlled.
  • Unsure of the impact IT risks might have on your organisation.
  • Rationalising and wish to ensure that risks are identified and addressed.
  • Have become more sensitive to IT security issues or suffered a recent embarrassing lapse in security.
  • Unaware of poor data quality which is impacting the effectiveness of your processes and decision making.

Then PwC can help you

PwC developed the IT Risk Diagnostic and Benchmarking tool to:

  • Assist you to understand why IT systems are not delivering quality, value, effectiveness and efficiencies.
  • Provide insight into how your IT controls compare against your peers and industry.
  • Improve the understanding of IT at Board and Audit Committee level.
  • Assist you to prepare a comprehensive road map for improvement.

Contact us

Philippos Soseilos

Partner - Advisory, PwC Cyprus

Tel: +357-22555606

Tassos Procopiou

Partner, Advisory, PwC Cyprus

Tel: +357-22555750

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