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.
PwC developed the IT Risk Diagnostic and Benchmarking tool to:
Partner - Advisory, PwC Cyprus
Partner, Advisory, PwC Cyprus