Tackling risk through technology
The new South Africa Risk report spells out numerous challenges. Many of its treatments can benefit directly from business and governance platforms.
The latest South Africa Risk Report from the Institute of Risk Management South Africa (IRMSA) again makes for both alarming and hopeful reading. Its sixth edition once again doesn’t pull punches, and delves into the views of top experts on what can and should happen to create a prosperous South African society for all.
One of these is South Africa’s eminent Chief Justice Mogoeng Mogoeng, who delivered the main keynote at IRMSA’s conference last year. During his speech, Justice Mogoeng compared risk professionals of today to the freedom fighters who won South Africa’s freedom. He noted that those who truly did the right and just thing would run into strong opposition. They might find themselves under threat and even have to go into hiding. But their cause is just. How can we support those efforts?
The report articulates several of the country’s major risks. These relate both to its sovereignty and well-being, as well as the futures of its citizens and businesses. It recommends numerous remedies, several of which are underpinned by modern technology.
“Various threads keep appearing during the report, such as accountability and leadership,” said Sean Pyott, MD of thryve. “It calls for evidence-based data, strengthening governance controls and monitoring, and upskilling people’s technical capabilities. Technology is very supportive of all those requirements. We should consider the role technology platforms can play to integrate data, aggregate information and create visibility towards accountability.”
The report doesn’t only focus on matters of accountability and leadership. Disruptive technologies and cybercrime are among the major risks cited by IRMSA’s South Africa Risks 2020 Report. Yet the adoption of modern, integrated business platforms also helps meet these problems by improving an organisation’s response agility, strategic insights, and workforce behaviour. The same systems that can reduce current risks facing the country can also help future proof it against emerging technology disruptions.
“The report mentions ethical conduct and consequence management several times,” said Riaan Bekker, Force Solutions Manager at thryve. “Both those are reinforced with visibility. But how do you create any visibility when you have so many entrenched silos? Several years ago, there was no satisfactory answer to that question. But now we have business platforms. If a skilled solutions provider installs the platform, it can be scaled to control its release, and it can incorporate business data and processes. It will start creating the visibility and answers that underpin much of what IRMSA’s report calls for.”
It would be irresponsible to suggest that a wave of technology’s wand will resolve South Africa’s many risks. But many of the problems result from now knowing what we don’t know. Unscrupulous people can hide their crimes through the haze of unclear and uncorrelated information. Plausible deniability is used as a defence.
The right business platform environment combats this effectively. Leaders and employees can use its services and reports in good faith, giving those who damage South Africa fewer places to hide. As the country moves from its perpetual hangover to a spring of hope, business platforms such as provided by thryve can help turn the tide.
Take a deeper dive into IRMSA’s report. Let the accountability begin, highlighting some of the reports key findings.
