Meaningful Risk Insight for Sustainable Business Growth

In our preparation for 2021, we reflected back on conversations that we'd had in the market, analysed industry trends, discussed pain points and more. We asked ourselves, what new challenges are organisations facing that were maybe not there before? Where does Alyne's product capabilities have the best natural fit in all of this? On a high level, learn more about some of the factors that led us to define our theme for the year: Meaningful Risk Insight for Sustainable Business Growth.

Towards the end of last year, members from our Marketing and Sales team gathered to analyse the year that would soon be behind us. We reflected on the market and the conversations we'd had with customers, prospects and industry analysts: Where are businesses finding themselves? Where are their biggest pain points? What new challenges are organisations facing that were not there before? We then looked internally, asking ourselves questions such as: What worked in our approach? What didn’t? Where is Alyne’s best natural fit in the market? How does Alyne's product capabilities map best to the trends that we are seeing? Taking the lessons learned and armed with newfound inspiration, we set our sites to the future and constructed our theme for the year ahead: Meaningful Risk Insight for Sustainable Business Growth.  

When it comes to any business service or SaaS solution, in order for them to be valuable, they need to really make a difference - and not just say that they do. There needs to be a natural fit in order for it to really work. If there is no natural fit - i.e if what you are offering doesn’t meet a real need in someone that is buying, there will either be no consideration for your product, or there won’t be full acceptance from the customer when using it. Now, I understand that this is basic marketing 101 in terms of customer need: problem vs solution, but when we reflected back on how Alyne’s solution fit has evolved over the past year with the new challenges facing organisations today, we started drawing powerful parallels in the ways that our services served a real and particularly relevant market need.

Although far more detailed than this blog can cover, I will share some of the high-level trends and answers to some of those questions above that lead us to defining this over-arching theme for the year:

Meaningful Risk Insight

The threat landscape in the past 12 months shifted faster than any of us could have predicted. Work from home posed it’s own new series of challenges. Beyond every initial employers’ fear that ‘work-from-home’ might be misconstrued at ‘netflix-and-chill’, there was also a significant impact on the likes of procurement priorities to enable now remote teams, and a sharp rise in threats to cyber security and data privacy – with phishing attempts almost at a weekly occurrence. There was (and still is) a scramble to secure the workforce, and have them armed with enough knowledge to protect the organisation in return. Read more on why an aware workforce makes for a secure organisation.

If 2020 has proven anything, it is how uncertain the global landscape is and how radically it can change. Read more on this in a latest article on Sketching 2020 from a Risk Management perspective. Whether on an organisational level or on global scale, proper operational and enterprise risk practices have never proven to be so critical. Germany’s IDW PS 340 n.f. is an auditing standard which is now mandatory and will be audited against for the first time this year. It places great emphasis on the understanding of an organisation's risk bearing capacity and aggregation – and in many ways, challenges the methodology of the risk management system, calling for more quantitative approaches to understanding risk. This ‘golden standard’ if you would like to call it, is an approach to risk management that we believe will become prevalent in many auditing standards in the future. The End-to-End Risk Management methodology that we offer in Alyne can be used by any organisation who truly wants to gain meaningful risk insight, better protect and understand the organisation and drive greater business value.

Sustainability, and Environmental Social Governance (ESG)

As awareness for Environmental Social Governance (ESG), human rights and sustainability increases, the owness and responsibility for the likes of ethical labour practices and environmental protection is now being placed squarely at the feet of organisations in a few leading countries. This requires them to fully understand the scope of their impact and be held accountable for ensuring that all social and environmental impacts they make are positive. Mandatory board-level reporting on ESG practices is gaining far more traction in Europe and beyond. This set of criteria will also be more used by socially-conscious investors to screen for their investment opportunities.

At Alyne, we have already partnered with leading organisations to make an impact in the areas of sustainability, human rights and environmental governance. Through these partnerships, we were able to combine their expertise in these topics with our technology, and together we will continue doing our part towards a better future. These collaborations and the ability to use Alyne’s platform for such content, makes Alyne a great fit for partnerships, too.

Growth

2020 was for many organisations, a year to cut back, protect and stay afloat. Now in 2021, even with the pandemic still thoroughly upon us, we have somehow moved past panic and have learned to tread water better – with regulators taking appropriate measures to help organisations better adapt to the new world. For many organisations, this will be the year to favour investments that bring stability, recovery, security and growth, with resiliency and continuity being a core focus. The financial sector, an industry that is highly dependent on information and communication technology (ICT), has seen a 38% rise in cyber attacks since the beginning of 2020. This has resulted in a Proposal for Regulation around digital operational resilience (DORA) which will formulate new common rules for mitigating the Risks of digital transformation and help financial institutions to withstand potential ICT disruptions. 

The topic of operational resilience will remain a cornerstone for business focus throughout the year - and not just in the digital realm. Businesses will place much of their energy in ensuring financial stability, and do what they can in order to ensure that their enterprise, and their extended enterprise (their vendors), are fit for future growth. 

The three categories above are not exclusive in our focus for the year, but they have certainly helped to define our wider 2021 theme of Meaningful Risk Insight for Sustainable Business Growth. These are a few areas which we believe to be core to Alyne’s “fit” and areas of greatest value contribution, and after long reflections on market conversations, are areas which we believe are also critical enablers for many organisations right now. Throughout the year we will dive deeper into the theme of Meaningful Risk Insight for Sustainable Business Growth, providing you with information on how Alyne’s solution can help you:

  • Enable your business with a Risk-centric approach
  • Drive business value
  • Gear your organisation to become fit-for-future
  • Perform smart compliance
  • Conduct more purposeful business

Feeling as inspired for the year as we are? Maybe you want to continue the conversation, or explore potential industry collaborations? Reach out to us!  marketing@alyne.com. To learn more about Alyne's product capabilities, send an email to support@alyne.com  

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Bayley Benton

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