2020 is nearly over, but there is still much to be said about risk management, analytics and customer management. Do risk managers have the right tools to manage larger budgets and more visible responsibilities? What advice do business leaders offer to create data-centric companies? What is a Customer Data Profile, and why is it an essential investment? And, why is Integrated Risk Management the future of risk practices?
Our monthly selection of blogs from thryve’s partners Salesforce, Riskonnect and Tableau explore these topics in more depth. So grab a cup of coffee, hit one of the links below, and find out what steps you can take to create more prospects and a better tomorrow:
2020’s changes have elevated risk management to a whole different level. Companies and leaders are much more aware – and interested – in the broader role of risk management, including strategic input and building resilience. Yet if you spend more on risk management, but don’t change how your risk management operates, you may up losing instead of the gains you hoped for.
Leaders’ tips for creating data-driven companies
A lot of companies want to start using their data more effectively around strategic and risk questions, but they don’t feel confident about what it requires. Forbes and Tableau hosted a roundtable around the topic, talking to CEOs of data-driven companies for their opinions. Their answers focus on culture and governance, including views such as, “We started to think about the different possible futures, and what no-regret moves and playbooks could be used to move quickly as the future unfolds. This meant a shift from forecasting to a mindset of scenario analysis.
The Customer Data Platform is the next step for customer centricity
Anyone keeping an eye on the CRM market will know it’s evolving strongly, and towards a specific purpose: a consolidated, 360-view of customers. Customer Data Platforms are finally hitting their stride – Salesforce launched its CDP service in its most recent update, and many other CRMs are planning to do the same. If you’re not sure what a CDP is, or why it’s a big step forward for already-impressive modern CRMs, Salesforce has a new blog that briefly goes through the details of what a CDP is and why you should start using one.
IRM is the future of risk management
Before the pandemic, companies were reluctant to change their risk management. It was seen as good enough, with only a few improvements needed. Well, how much changes in a year! Now we know risk management can be much more useful and strategic. But it also requires modern tools to do so – namely Integrated Risk Management (IRM). IRM isn’t new – it’s a mature concept that has been serving enterprises for years already. If you’re not on the IRM bandwagon yet, here’s what you should know.