Read the latest insights from the Camms team.
Adam Collins | October 2, 2020
We are excited to announce that our industry recognized Risk Management Software Solution, Camms.Risk, was yet again named as a “High Performer” in the GRC software category by G2 in their Fall 2020 report. This marks the 3rd consecutive quarter in 2020 Camms.Risk has been recognized by G2 in its quarterly Grid report.
Daniel Kandola | October 1, 2020
Transferring products from A to B quickly and efficiently is the name of the game in the constantly moving world of transportation and logistics. Unfortunately, a myriad of variables means this process is rarely as easy as ABC at the best of times – and 2020 is proving more algebra than alphabet. Navigating a clear course within the sector has never been so challenging. Existing risks have been overshadowed – or in some cases accelerated – by an unprecedented global event that has brought the importance of organisational resilience into sharp focus: the COVID-19 pandemic.
Beau Murfitt | September 25, 2020
Major banking institutions have been at pains to stress their determination to overhaul their ability to combat financial crime of late – following a string of high-profile corruption scandals. Unfortunately, these claims appear to be words without substance after a disturbing tale of leaked documents, dirty money, and international crime emerged – one that sounds more like something from a Netflix crime drama than the world of regulatory compliance.
Daniel Kandola | September 17, 2020
The rapid spread of the COVID-19 pandemic has completely blindsided society in 2020, with devastating effect. But was this cataclysmic event a black swan? It appears not. According to the National Risk Register – an overview of the risks of major emergencies that could impact the UK in the next five years – the threat of a pandemic was firmly on the government’s radar: “experts agree that there is a high probability of another influenza pandemic occurring, but it is impossible to forecast its exact timing or the precise nature of its impact.” In fact, of all the high consequence risks outlined in the register – from severe weather to terrorist attacks – a pandemic was considered to have the highest potential impact.
This threat wasn’t classified information reserved for senior figures in Whitehall; it had filtered down to local government level. Take Camden Council, for example, which – like other local authorities – already had information about pandemic risk fed to them by Public Health England. Camden subsequently rated a ‘pandemic flu’ as a 4/5 likelihood and 5/5 for potential damage on its risk register – proof that more high-profile risks like terror and cyber-attacks weren’t their only focus when it came to organisational resilience.
Daniel Kandola | September 10, 2020
What a difference a year can make. Cast your mind back to 2019: the global defence sector was on the offensive due to budget increases and military modernisation was the plan of attack, as growing security concerns forced governments to invest heavily in new equipment. So much so that international defence expenditure was forecast to grow between 3% and 4% in 2020 to reach an estimated US$1.9 trillion – driven by increased spending in the US, Russia, China and India.
Daniel Kandola | September 2, 2020
Successful organisational resilience relies heavily on the four sights: insight, foresight, oversight and hindsight. Unfortunately, anticipating and preparing for sudden
Warwick Kirby | August 24, 2020
McKinsey & Company published an insightful article in March 2020 – Beyond coronavirus: the path to the next normal.
Kevin Sneader and Shubham Singhal stated, that to win the war against Coronavirus required action across five horizons: Resolve, Resilience, Return, Reimagination, and Reform.
Brad Smith | August 5, 2020
The impact of the massive global disruption from the COVID-19 pandemic during 2020 has been felt in virtually every organizsation, workplace, and household around the world. With or without an effective vaccine, the pandemic’s far reaching impacts will be felt globally for some time to come.
Brad Smith | July 28, 2020
We all know that reporting safety incidents in the workplace is essential to managing risk, but with the advent of COVID-19 the relationship between risk and incident has taken on a whole new meaning.
Camms | July 23, 2020
Camms has continually evolved since we were founded in 1996! With nearly 25 years of experience in business software solutions, we have continually invested in making our software right for supporting organizations to achieve their goals.
Camms | June 11, 2020
To provide our customers with assurance around Camms' ongoing commitment to information security management, we are pleased to announce that we have recently achieved certification of the ISO 27001:2013 standard for our major offices around the globe. This followed an in-depth set of assessments over the past 6 months including onsite audits in all locations.
Camms | June 4, 2020
The largest implementation partner of Adaptive Insights in the APAC region, GK Horizons, are trusted by their customers across various industry verticals to improve not only their financial insights but their business agility and overall performance.
Brad Smith | June 1, 2020
Today’s climate proves that both local and global events can significantly impact the strategy and operations of an organisation. With key attributes in today’s volatile and uncertain environment being agility and flexibility,
Camms | April 21, 2020
Tomorrow needs pace, agility and quick decisive management. Today is the day to invest in the right risk management software. Rapid change is a constant in today’s environment.
Yasith Fernando | November 25, 2019
Sustainable Software Development refers to a set of principles and practices which enables a team to maintain an optimal speed in development indefinitely for the sustainability of the development team and ergo, the company.
An organisation’s reputation is highly significant in achieving its goals. Countless organisations invest massively to maintain and even improve their reputations. Modern media and new technology allow many organisations to work better on their reputations.
Press releases, advertisements, media covered initiatives, and other related activities greatly help in the cultivation of stronger and healthier reputations and support the establishment of the organisation’s integrity.
However, the same instruments may also cause the opposite effect. The extensive reach of today’s media and technology easily makes organisational reputation highly vulnerable. A fake, negative Google review, for example, can easily hurt and damage the reputation of a small business. This leads to considerable impacts on the organisation’s marketing efforts and extends to its overall goals.
The reputation and integrity of the business is an integral part of its survivability and growth. Having a good standing in the public eye will not only help maintain current clients but will definitely help in the acquisition of more. Growing a client base is a primary objective of businesses in wanting to grow their business and this could only come smoothly with a reputation that can be trusted.
Negative reputation, on the other hand, works in the opposite direction of growth. A negative reputation discourages incoming clients and will shake the confidence of your current client base.
Here are some ways it impacts your business:
Apart from these, a negative or damaged reputation has a wide array of ill-effects that hinder business operations.
There are lots of things that could pose a potential risk to your company’s reputation. The ability to manage this risk and greatly reduce, if not to totally eliminate, its impact can mean great things for your business. Here are some of the best ways to do a reputation risk:
Management boards act as an oversight in reputation risk. With proactive decision-making and implementation of reputation risk management strategies and mitigating practices, it is easier to manage any risks and threats and will greatly boost the reputation of the business.
Having a proactive perspective about all kinds of risks that the business is exposed to and those that the business may face in the future makes a company more equipped to handle them. The integration of risk in any strategy and business plan will help better protect your business. It can even help in laying down a fabric of resiliency in many parts of the organisation.
Reputation risk management strategies can only be as effective as the communication system that they flow into. This means that effective communication strategies and systems must be put in place. Equally important is the image and brand building of the company and how it is being communicated and presented to the general public and target clients.
The strength of the top management must be rivalled by those down the corporate hierarchy. Strong corporate values that are internalised by staff and employees helps in maintaining a strong, reliable reputation in the company. In addition, providing necessary incentives to significantly commendable work performance will help foster these corporate values.
Cultivating a positive culture of compliance to governing statutes and laws, as well as other corporate requirements put your company in a good public standing that reinforces its reputation.
Executives must strive every day to provide a positive experience to everyone including staff, employees, workers, stakeholders, business partners, customers, and others. The strength of the business lies in its capacity to provide positively reinforcing experience to everyone.
This is very important especially on matters of financial concerns. In order to gain and maintain the trust of funders, lenders, business partners, and others; transparency in financial reporting must be observed.
Internal control environment helps in ensuring every process of the business contributes to the maintenance of quality and in providing clients and stakeholders a satisfying experience.
The performance of the company in comparison to its competitors also ensures a positive reinforcement to its reputation. This can mean competitive products and marketing.
This means the establishment of a comprehensive risk management system that will address various risk concerns and help increase the company’s risk appetite. This will also ensure that the company remains ready as emerging risks come.
A proactive perspective regarding reputation risk management can go a long way in protecting your company. If you want to learn how cammsrisk can help you better manage your organisation’s risks so that it does not adversely impact your reputation, book a demo with us today!