Uncertainties in today’s business landscape are presenting a host of risk issues to supply chains around the world. The COVID-19 pandemic, which resulted in paralyzed business operations and significant revenue losses, is one proof of how vulnerable and fragile supply chains are to disruptions. This magnifies the need for companies to reassess their service supply chain and ensure that it is prepared for any interruption.
Along with the digitization of many business processes, companies need to address the various cyber threats today’s landscape presents. If not properly managed, these cyber risks could lead to significant IT outages, eventually crippling business operations. As ransomware – and other cyberattacks – become more sophisticated, it further underscores the need for security teams to advance their vulnerability management programs to ensure that any susceptibility to cyberattacks is proactively detected and repaired, and their data storage systems are secure and impenetrable.
The rise of sales tax automation has made it possible for companies to turn their manual tax processes into streamlined and efficient systems. It has dramatically improved everyday tasks, like data validation, which can now be performed with increased speed, ease, and accuracy.
The life sciences industry has lacked a future-proofing strategy to scale automation beyond processes or steps within processes such as task automation. Most pharma companies today are making large investments in automation to combat rising costs, time, and regulations in drug discovery, supply chain, and manufacturing. But the industry is still considered to be lagging in institutionalizing a well-defined strategy to integrate hyper-automation into the ecosystem to deliver transformational impact to customer experience and drive better business outcomes.
Staying compliant with the evolving regulatory landscape of Anti-Money Laundering (AML) and the Bank Secrecy Act (BSA) has always been challenging. With the passage of the National Defense Authorization Act (NDAA) for the fiscal year 2021, increased scrutiny and heightened penalties are expected. Amidst these changes, financial institutions also grapple with imminent credit and liquidity risks which, if not mitigated, could significantly affect operations and revenue.
The impact of COVID-19, along with the accelerated rise in expectations from patients regarding the quality of the digital experience, places tremendous pressure on health systems.
With today's rapidly evolving digital landscape, cyber threats and data breaches are becoming more sophisticated in terrorizing businesses and organizations of any size. Furthermore, the constantly changing data protection and privacy requirements and policies add up to the complexities and challenges for companies. Without an effective response plan, these threats and issues may pose risks that could significantly disrupt important operations.
