Risk data includes information regarding risks, claims, incidents, losses, and mitigation strategies in an organization. While risk data is important to the success of the organization as a whole, it can sometimes be difficult to stress its importance to employees who don’t realize the impact it has on decision-making, processes, and financial savings. (If they need extra convincing, show them our blog post on 10 Reasons Risk Management Matters for All Employees!)
When staff have multiple tasks to complete, submitting data to the risk department may not take priority, which can limit the effectiveness of the organization.
How can risk managers and other staff members overcome issues when communicating risk data? The answer is simple: with technology. Let’s tackle each of the challenges and illustrate their technology-based solution.