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Manage Tomorrow's Surprises Today

Steven Minsky

Credit Unions Choosing Cloud based Solutions for ERM

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cloudIncreasingly, organizations across all industries are charged with managing risk in a complicated compliance environment. Over at the Credit Union Times, Danny Baker, Vice President of Product Management, Risk & Compliance at Fiserv Inc., thinks he's found a solution in the Cloud. In his recent article, "To the Cloud for Risk Management, Performance Analysis," he argues that Credit Unions should turn to "Web-based or cloud portal" platforms that deliver enterprise risk management solutions. 

Cloud portals provide a cost-effective, single sign-on platform to support risk modeling, planning and financial analysis. An integrated cloud-based platform can help credit unions make better-informed business decisions and implement effective performance strategies, enabling them to keep up with evolving regulatory mandates as well as the challenges of managing net interest margins and revenue growth pressures. 

Cloud based software-as-a-service (SaaS) is relied upon more and more for organizations seeking to streamline and simplify their ERM software solutions. Baker cites the cost, integration capabilities, and agility as reasons why CU's should strongly consider a cloud based platform. At LogicManager, we recognize the needs for Credit Unions and other high risk organizations to implement solutions that can be easily integrated into their IT infrastructure. Our cloud based solution can be available on any computer at any time, without the hassle of startup costs, painful upgrades and patches, or the need for additional hardware as your user base grows. Without the hassle of managing additional IT infrastructure, LogicManager provides a full-spectrum solution to risk reporting, monitoring, and compliance.

LogicManager highly recommends Danny Baker's article, "To the Cloud for Risk Management, Performance Analysis," and would like for you to learn more about our own cloud platform solution. Watch our 4 minute ERM video on how we can implement your solution, or visit Credit Union ERM Software for industry specific information.

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In this blog, risk expert Steven Minsky highlights the differences between traditional risk management and true enterprise risk management, which is about helping things happen rather than preventing them from happening. Manage Tomorrow's Surprises Today is designed to help you think about risk in new ways and learn how to benefit practically from this rapidly evolving field.

Steven Minsky

Steven Minsky is the author of the RIMS Risk Maturity Model for Enterprise Risk Management and CEO of LogicManager, the recognized leader of enterprise risk management solutions. LogicManager provides an integrated, intuitive software-as-a-service platform that helps companies make better decisions through risk intelligence for more effective corporate governance, risk and compliance management.

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