With clear objectives and effective management, along with regular use, the Executive Dashboard can inform and improve three key business processes:
Risk management, board oversight and annual reporting.
Here’s how:
Better risk management
- Add an external perspective to your Enterprise Risk Management approach, complementing your internal data and assessment.
- Build an analysis tailored to your requirements.
- Use data to identify blindspots in your risk register with clear categories of risk-to-action and monitors.
- Understand your external landscape by exploring issues, topics and factors.
- Streamline your process throughout departments and geographies.
Better board oversight
- Stay on top of your evolving risk landscape to proactively identify, monitor and respond to emerging challenges in an ongoing and dynamic way
- Gain strategic insight to discuss with your Board and senior management
- See trends and how peers are taking action compared to your company
- Data-driven and backed information for improved discussions and business outcomes
Better reporting
- Strengthen your external risk reporting by identifying gaps and opportunities for disclosure
- Move from static irregular reporting to dynamic ongoing monitoring
- Ensure transparency through internal and external audit trails
In summary, the Executive Dashboard can:
- Aid in better decisions using a systematic data-driven approach
- Identify blind spots through sophisticated technology, representing a new form of insurance policy for Senior management and Board members
- Monitor existing threats, opportunities and weak signals across a broad and evolving spectrum of data.