IT & EDI / B2B Risk Assessments Rationale/Benefits
Risk Management is a systematic methodology for identifying, analyzing, controlling, reporting, and reviewing risk factors-within a system, within a network, and throughout an organization.
The objectives of Risk Management are:
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Eliminate and/or reduce weaknesses.
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Improve security controls and processes.
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Determine and preserve a successful balance between risk probability vs. productivity and profitability.
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Reduce operational disruptions and losses.
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Risk Management has become increasingly important because of Sarbanes Oxley compliance requirements, which address the security and integrity of IT systems and controls as well as the accuracy of financial reporting.
A successful Risk Management program should:
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Provide EDI assessment on historical events, today's issues, and planned responses to possible future events.
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Increase efficiency by reviewing and streamlining processes.
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Predict and eliminate future risks and provide a plan to deal with contingencies.
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Satisfy internal and external auditing requirements.
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Design performance improvements, reduce unnecessary expenses, and control the cost of compliance.
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Improve the confidence of trading partners, internal business partners, shareholders, and regulators.
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Risk Management of EDI and B2B systems and processes presents special challenges because of the interrelationship of the trading partners-vendors, suppliers, distributors-and the many points of connectivity between the entities and systems throughout the supply chain.
Risk Management should enhance and support your EDI and B2B systems and processes by:
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Securing the integrity of critical information.
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Protecting key logical and physical infrastructure components.
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Risk Management phases:
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Risk Assessment
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Risk Reduction Plan
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Risk Reduction Implementation and Follow-up
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Risk Management should be an iterative process, with the three phases of EDI assessment repeated periodically to ensure that, the processes in place continue to be effective, and that new risks are identified and controlled.
Advantages of third party EDI/B2B Risk Assessment:
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Allows your decision-makers and staff to continue their priority tasks.
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Brings a proven Risk Assessment methodology and framework to your project.
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Provides technical Risk Assessment expertise-in-depth knowledge of EDI, B2B, and Internet security.
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Provides business Risk Assessment expertise-process improvement, process documentation, project leadership, and culture analysis and management.
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Brings objectivity to the analysis of your EDI/B2B systems, processes, and culture.
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Reduces the project timeline through dedicated project objectives.
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Our EDI Assessment process provides the framework and the deliverables to enable your EDI/B2B management and staff to manage the Implementation and Follow-up phase. Or, we can provide the project management and support to direct the implementation.
EDI/ B2B Risk Assessment Process
Our EDI/B2B Risk Assessment Expertise
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800 821 4644
(download .pdf)
