Organizations today have lot of focus on risk management and compliances. The need has really outgrown a company secretory, a compliance officer, a legal officer, a security officer and a PR officer. The kind and extent of risk each organization is exposed today requires expertise in many areas,which most organizations today are not able to afford,especially those in small& medium sectors.
The organizational risk can be classified in the following 3 broad categories:-
· Financial Risk management & GRC areas
· IT security
· Brand & external risk management
The management of these risks not only call for expertise in these areas of finance, IT, brand management, supply chain, physical security etc. but also call for a deep experience of managing the associated legal matters & advocacy with external agencies.
So, today the need is not only to have a CRO (chief risk officer) but a CRO which is well supported by a team of experts, which not only offer consulting but also execute the necessary actions. This CRO is actually noting but a eCRO or a virtual CRO,which executes various activities to perfection that too on demand.
Platforms like www.brandsandfakes.comwhich started like a broad external risk management platforms, are soon transforming to offer comprehensive risk management services and are likely to occupy the eCRO space soon
Brands and Fakes has aligned the capabilities of the service delivery eco system with the industry verticals, so that the Brands under various industry verticals and sub verticals are able to get services from expertise in their specific domains.