Enterprise Governance Challenges
Enterprise governance came about in the early 2000s after many highly publicized corporate financial disasters which resulted in enterprises and regulators scrambling to improve internal control and governance processes. The result; a focus on financial Governance, Risk, and Compliance (GRC) Today, many regulators are taking steps to add broader Environmental, Social, and corporate Governance (ESG) factors to the financial compliance agenda.The biggest challenge is putting in place effective data management capabilities across the extended internal and external enterprise which is key to maintaining a high level of GRC and ESG performance. Only by having wide, deep, secure, and flexible data management tools - which understand how data changes over time - are enterprises able to generate insights into current risks and future trends. This will enable them to implement corrective and preventive actions if things are headed in the wrong direction.
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