CHANGES COME WITH SOME
TREPIDATION, BUT RISK
MANAGERS MUST GET OUT IN
FRONT OF THIS TREND.”
— Sarah Pacini, vice present of risk
management and insurance, Advocate
Health Care Corp.
AP PHOTO/RYAN REMIORZ
THE FACTORY floor of a food production facility in Montreal. Companies from food manufacturers to healthcare providers
are finding that they can automate mundane risk management tasks, freeing up resources for enterprise risk management.
; IN-DEPTH SERIES
Overcoming the Mundane
Companies eliminate manual tasks using risk management
information systems, and instead present critical data to the C-suite
so senior executives and boards can make better risk management
decisions. BY TOM STARNER
Over the past few months the staggering economy
has shown signs of a pulse. Yet, even with that new
glimmer of economic hope, the past three years
have been so rocky for many organizations that
risk managers today continue to live by the “do
more with less” mantra—the seemingly de facto
operating slogan for American businesses.
Of course, sometimes hardship and lean times
can lead to innovation and progress. In the case of
risk management, tough times have meant a more
intense focus on harnessing systems and technology
platforms to reduce or even eliminate the more
mundane manual tasks associated with the risk
According to some experts and risk managers, in
fact, technology advances—over the past few years
and those currently emerging—are finally giving risk
managers the power and opportunity to automate
the “mundane” administrative chores, allowing
them to be more strategic and focus on enterprise-
level risk management. The more risk managers
can harness these technologies, it seems, the more
valuable their contributions to the organization
become, and the more likely they will deliver
strategic value and gain credibility from senior
management—the end game being the proverbial
seat at the executive table.
• The costs of risk management technologies are
falling in many cases.
• Replacing mundane risk management tasks with
technology is a priority for many.
• To truly save time and money, risk management
technology systems have to be on mobile