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Year after year, new technologies revolutionise how we do business, offering incredible benefits to organisations, but reliance on technology also increases risk exposure.

Cloud computing. Connected devices. Digital and mobile. Robotics. Blockchain. Artificial Intelligence. The fourth industrial revolution has arrived. In fact these technologies; once deemed ‘emerging,’ are here, now, and adopting them is not an option anymore; it’s a mandate to compete in the 21^st century.

For enterprises, speed of technology deployment is critical to success and survival, but it can’t be at the expense of the health of the organisation, its stakeholders or its customers.

When technology fails, the business disruption can result in revenue loss and damaged consumer confidence. Whether a customer’s data is stolen, electrical outages at an overseas plant occurs, or there is simply a lack of technology in an emerging nation where you operate, technological risks can be incredibly damaging. Without an effective technology risk management strategy, your organisation’s profitability and your reputation could be impacted.

In this exclusive report we explore:

• What tech risk management is
• Why tech risk management is important
• Top tips for proactive risk management - and;
• How effective tech risk can help improve prioritisation, accountability and management of risks
  

Ahead of the Technology Risk Management Summit 2020 take a look at this exclusive presentation with Rohan Wickremesinghe, Program Integration Leader - Technology Risk and Compliance - Lynx Migration at TAL Australia. 

Explore the presentation to learn more about: 

• How the profile of technology risk has evolved over the last few years
• How can we better define our technology asset environment and associated risks?
• How can we bring more quantitative measures to showcase tech risk criticality?
• How to can we better work with Cyber, BCM and front-line teams to improve tech risk management?

Although it’s crucial to seize control of the technology environment, this goal remains elusive in almost every industry. Technology is embedded into most critical operating processes, which means the implications of mistakes, failures or breaches can be severe from an operational, financial and reputational standpoint. Cybersecurity vulnerability is high.

According to recent KPMG report; ‘Disruption is the New Norm,’ the rapid pace of technological change represents one of the biggest threats to today’s businesses, with key findings from the report indicating that 72% of companies bring tech risk into projects only after the fact, once issues arise. Additionally the report further indicates that half of all businesses are using stale IT risk data collected ad hoc, through conversation, anecdotes, etc., rather than real-time, normalised data from systems of record, despite the threats poor technology risk management poses.

Shifting technology risk management from the reactive to the proactive, and creating an organisational culture that views IT and Tech risk as an organisation-wide function; not as an arm of compliance or cybersecurity, ensures that you can reap the rewards of modern technology without the risk.

Read on below to explore the eight steps needed to build a proactive risk management framework and organisational culture. 

As the Queensland Government’s central financing authority, Queensland Treasury Corporation (QTC) plays a pivotal role in securing the State’s financial success. With a focus on whole-of-State outcomes, QTC provides a range of financial services to the State and its public sector entities, including local governments.

In an effort to deliver optimal financial outcomes through sound funding and financial risk management QTC, like most modern organisations is harnessing new technologies and data analytics to increase decision making capability and drive improved client outcomes.

While new technologies revolutionise how we do business and offer incredible benefits to organisations, a reliance on technology also increases risk exposure, cyber security threats and the potential for data breaches, which is why QTC has worked hard to develop and embed a proactive technology and security risk management framework and culture.

Ahead of the Technology Risk Management Summit 2020 we spoke to David Chantler, Head of Information Security and Technology Risk at QTC. David shares insight into emerging technology risk challenges and delves into how QTC has embedded a new strategy and organisational culture to help overcome these.