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.
When looking ahead through 2021, it’s understandable that business leaders around the globe will be feeling apprehensive about locking in their strategic plans. While most businesses traditionally look to set strategy and a roadmap at the beginning of the year, now is the time to consider a new perspective – a fresh take that supports the “new world” momentum of 2020 into 2021 and beyond.
And more than ever before, integrity and operational resilience will be key themes to explore.
As with all strategy and forecasting, all you can really do in the face of uncertainty is use the information you have at hand to make the most effective decisions possible. While for some, that may be a return to business as usual, for many, the learnings from 2021 will only sharpen the focus on, and drive the importance of, governance, risk and compliance (GRC).
In a recent Forbes article about financial forecasting for 2021, contributor Moira Vetter’s advice is to start the year with a fresh-slate strategy, stepping away from the pessimism of the past year and looking ahead in a positive and productive way, while also incorporating key learnings from the past 12 months.
While it’s important to start from a fresh slate and go back to consider business as usual goals and strategies, there have also been a number of learnings from the renewed emphasis on risk this year that should continue to be a focus in 2021.
Prior to the COVID-19 outbreak cyber risk was on the rise, and of increasing concern to large organizations, but it was the pandemic that brought it into sharp focus.
According to Adam Collins, Chief Product Officer at Camms, in a recent article Why reporting cyber risks is essential to combating cyber crime, cyber risk management should continue to be a major focus for boards and executives alike in 2021, and must be managed, tracked and ultimately reported on, through cloud-based software for rapid responses and transparency.
“With the increasing numbers of cyber crime, and Government mandates for cyber risk reporting on the horizon, now is the time to manage your risk in a systemized and transparent way,” Adam said.
Camms’ integrated suite of cloud-based business software solutions, such as Camms.Strategy can also be utilized at the board level to develop and execute your strategy, measure ongoing business performance and ensure your team is working towards a common goal.
In an article on security and compliance trends for 2021, from Corporate Compliance Insights, author Jody Patterson also lists risk management for an increasingly remote workforce as a key consideration in strategic planning this coming year.
“The events of this year were completely unexpected and unplanned. Worldwide, no one considered a scenario in which the majority of the global workforce would work remotely or how they would keep business systems secure in such a situation,” she writes.
She also agrees that one of the best ways to monitor that risk is by investing in cloud-based infrastructure or online software that will allow more flexibility for an ever-shifting and changing workforce.
“We already know that cloud technology will continue to play a big part in the future of work, just as it has been doing consistently over many years now, and it will have a larger role than most anticipated in 2021, due primarily to the rise in remote work and also the need for better agility and less cost associated with on-premise solutions,” she writes.
According to Forbes contributor Jim DeLoach, a key decision for boards will be balancing the financial impact of investing in a social and environmental strategy with the risk of not doing so.
“In addition to addressing regulatory, financial and operational compliance, more companies also must assess how their environmental, social and governance (ESG) investments and activities measure up with organizational values and rapidly evolving stakeholder expectations,” he writes.
Simply stated, if ESG is not on your list of priorities in 2021, now might be the time to work it into your strategy.
Resilience has become the latest global hot topic in many industries, particularly financial services – and how your company operates structurally can have a major impact on this.
Many major companies still rely on archaic and complex infrastructures, with equally outdated and disconnected processes that provide very little opportunity for flexibility and adaptation.
Achieving operational resilience has become a crucial goal for companies looking to survive the current crisis, and the next one.
The top 5 key operational risk areas that must be considered now, to prepare for a more resilient future, include:
When it comes to financial risk, and the economic fallout from the past year Forbes’ Jim DeLoach, says it’s best to focus on liquidity.
“Managing liquidity is a priority for every business during any recessionary cycle or period of economic uncertainty,” he writes.
“Heading into 2021, CFOs and finance leaders are considering investments that will strengthen a wide range of cash management activities, including those related to expense management and revenue management.”
In addition to ensuring you have enough cash assets to survive any further unexpected storms, Deloach also recommends that businesses seriously consider making the most of corporate funding opportunities currently being offered by governments around the world, to keep their businesses and the economy afloat.
“CFOs and finance leaders should know what, if any, government funding and aid are available to their industries and companies, and how and when to apply,” he writes.
“These opportunities should be integrated into liquidity optimization analyses. Finance and compliance groups also must be rigorous in determining whether the organization qualifies for any federal liquidity programs and diligent in maintaining the appropriate records required as a result of tapping into these programs.”
With so much to consider in 2021, it’s essential that businesses look at software solutions that will not only make strategy and planning easier, but also enable transparent access to real-time data that will reduce risk, improve decision making and reinforce compliance, from the top down. Being able to connect your risks, risk tolerance and risk appetite to your organizational strategy are key value propositions of the Camms suite of solutions.
According to Beau Murfitt, Chief Strategy Officer at Camms, finding a cloud-based software solution that is flexible for remote working, and can help drive your strategy in 2021, is essential.
“With integrated solutions in risk, strategy, projects and people Camms business software solutions can help corporates to make the right decisions, manage risks, and focus on what matters,” he said.
“Our Camms.Risk software is an online, cloud-based solution suitable for anyone from large corporates and SME businesses that wish to manage operational risk as part of their strategic plan and company culture - it allows the board to identify, track and manage risks no matter where they’re located.
“The Camms.Strategy software is also a comprehensive solution for strategic planning, execution, evaluation and reporting that allows board members and managers line of sight to see how every single action and task they do drives key organizational goals.”
Camms software products are also completely configurable, and can be purchased individually, then added to, or packaged up as a complete integrated business platform.
“To help track and report cyber security issues, you can manage your exposure to IT risks with Camms.Risk’s integrated risk registers and workflow tools specifically for IT,” he said.
“While the compliance management module helps business leaders to understand exposures and areas of non-compliance to drive business action and address legislative changes.”
Find out more about how Camms’ integrated, cloud-based, software solutions can help you to start 2021 with a fresh slate and get on top of your governance, risk and compliance strategy.