WHITEPAPER – SureCloud, a British supplier of cloud-based Governance, Risk and Compliance (GRC) solutions, has announced the immediate availability of its whitepaper for enterprise risk practitioners entitled Supplier assurance: advancing from assessment to risk management. Written by SureCloud CEO, Richard Hibbert, the whitepaper is a short extract from October 2014’s Institute of Risk Management (IRM) report ‘Extended Enterprise: Managing Risk in Complex 21st Century Organisations’.
SureCloud’s whitepaper examines how the vast quantity and transient nature of supplier relationships today demand assurance capabilities that are not only consistent, efficient and scalable, but also provide analytic capabilities. It explains how this gives organizations new competencies to identify, prioritize and reduce operational risks in the supply chain. It pushes the case for establishing a framework that allows controlled business growth and maintains high levels of quality without having to introduce additional levels of complexity.
The full 138-page IRM study calls on companies to take a more proactive stance to supply chain crises rather than implementing new ‘tick box’ compliance processes that further add to complexity. It also provides an analysis of the role behavior plays in ensuring consistency of culture and practice throughout every link in the chain.
“The IRM first became aware of our in-depth expertise in the field of Third Party Supplier Assurance after seeing us present successful customer implementations at major industry events,” said Richard Hibbert, CEO at SureCloud. “We were obviously thrilled and honored when they asked us if we would work with them on this ground-breaking and insightful piece of work.”
“The new IRM report shows how the response by enterprise to recent supply chain crises like the horse meat scandal, Rana Plaza or BP has invariably been to introduce extra rules and regulations that add new layers of complexity and ultimately leave workers even more vulnerable,” said Carolyn Williams, technical director, Institute of Risk Management. “With the support of enlightened partners like SureCloud we aim to change the mind set of risk management executives by persuading them there is greater value in improved process automation and communication than simply relying on conventional ‘tick box compliance’ methods.”
An executive summary of the IRM study ‘Extended Enterprise: Managing Risk in Complex 21st Century Organisations’ is available free-of-charge while the full paper may be accessed by IRM members.