1. The high cost of information silos – siloed approaches to risk and compliance result in redundant activities and high total compliance costs.Any of that sound familiar?
2. The high costs of poor information quality – the lack of a “single source of truth” for risk and compliance information can reduce the effectiveness and quality of decision-making.
3. The high costs of getting it wrong – an ineffective risk and compliance program can, and does, result in loss of corporate reputation, increased business interruption, and reduced employee productivity.
From More Thoughts on the OCEG Session at CA World