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.
The Brexit process is not known for its rapid progress. Erstwhile PM, David Cameron announced the EU referendum would happen way back in February 2016, but Brexit didn’t become reality until January 2020 – following two general elections, three PMs and seemingly endless uncertainty. Anyone who thought this would signal a bright new future overnight obviously had not read the script. A transition phase was triggered: an 11-month period during which the UK and EU face a race against time to strike a deal on their future relationship. So, as the 31 December deadline fast approaches – 1,653 days since the UK voted ‘Leave’ – the clock is finally ticking on final stages of the Brexit process.
Businesses across multiple industries have found themselves caught between Brexit and hard place during this transition period as uncertainty persevered. With time rapidly running out for the UK and EU to reach and ratify an agreement – and avoid a hard Brexit – risk leaders have been forced to plan for every eventuality.
Trade has been the main narrative during the post-Brexit negotiations. When the transition period ends at 11pm (Brussels time) on 31 December 2020, a new customs border will be created between the UK and the EU – regardless of whether a Free Trade Agreement is reached between the two sides or not. If Boris Johnson pulls the plug on nearly 30 years of EU single market membership, several major concerns might playout:
This has brought supply chain resilience into sharp focus for risk managers. Take the transport and logistics sector, for example, which has been forced to explore proactive measures that can mitigate the potential impact of a hard Brexit on intricate networks – from stock building and automation to dynamic and near sourcing and e-commerce.
The financial services industry — the UK’s largest services export — is expected to weather the initial storm of a WTO-terms departure, having prepared for several years to leave with a ‘no-deal’. This does not mean the sector has a clear path to a smooth relationship with the EU in a post-Brexit world.
Under the withdrawal agreement, the UK forfeited its rights to sell financial products and services freely across the EU – a system known as “passporting”. Instead, access to the Bloc’s financial markets will rely on arrangements known as “equivalence” from January onwards. However, in true Brexit style uncertainty remains, with the scope of single market access available to UK financial services firms under this new system still undecided.
Despite headlines being dominated by talk of a trade deal, the UK’s financial services industry is firmly focused on equivalence – a crucial factor that will influence its future relations with the EU. Favourable arrangements will mitigate the effect of a hard Brexit on the ability of firms to access the EU single market after 31 December. Autonomy is another key consideration because without a deal the UK and EU would be free to develop their own regulatory regimes, bringing the issue of divergence into play – which would in turn place equivalence back under the microscope.
Financial services firms that operate across EU borders must understand several crucial factors: what equivalence will achieve for them on a day-to-day basis, and what a worst-case scenario looks like if it is not implemented – because either way, it will not be ‘business as usual’.
Planning for a post-Brexit future from a risk perspective is a balancing act for UK businesses – one that is being performed blindfolded while negotiations rumble on and key issues remain unresolved. Achieving operational resilience in the current climate means the age-old mantra of “plan for every eventuality” has never been so relevant. Risk managers must, therefore, strike a balance between preparing for an uncertain future and continuing to manage established risks such as cybercrime.
Business solutions are more vital than ever for helping UK-based organisations manage emerging and established GRC risks, strategies and projects, regardless of the outcome of Brexit. We're excited to discuss how Camms’ solutions can assist with your risk management practices. Reach out to us to request a demo of Camms.Risk and explore how Camms can help you focus on what really matters.
Vice President, EMEA