Blog

In today’s climate, a company’s position on environmental, social, and governance (ESG) can be just as important to its stakeholders as the services it provides.

Many organizations have resisted automating their risk management practices. It’s comfortable to maintain the status quo – often a combination of spreadsheets, emails and internal drives – to manage all facets of risk, including contractors. Unfortunately, there are several trade-offs.

Spreadsheets are a business’ greatest exposure because, unfortunately, human error is paramount and pervasive. Understanding the real risks posed by spreadsheets can help businesses take the critical step toward digitization.

Spreadsheets are risky business. Whether it’s the demands of manual upkeep, the difficulty of the scaling process, or even simply the unreliable nature of the data inside, using spreadsheets for your risk management — including vendor management — opens your business up to unnecessary risk.