Managing Tomorrow's Risks Today

Richard Wilson April 26, 2018

If you place a frog in boiling water, it will immediately jump out. However, if you decide to place the frog in cold water,  gradually heating the water, what will happen? The frog fails to recognize the risk, leading to him boiling to death.  “Boiling Frog Syndrome” is very applicable to modern day organizations. Organizations across the globe continuously suffer the same fate, failing to recognize gradual changes to their risk environment.

A perfect example of the above parable is Russell Hume. Russell Hume was a well known large meat supplier with both a great heritage and a large share of the market. Supplying large entities such as Wetherspoons, Hilton Hotels and Jamie Oliver’s kitchen. Almost overnight, Russell Hume went into administration and more than 300 workers lost their jobs across the country.

This disaster stems from a lack of awareness of risk and compliance issues leading to a large scale food standards scare. Meat products were prevented from leaving the group’s factories after Food Standards Agency (FSA) inspectors found “serious non-compliance with food hygiene regulations” during a surprise visit. The company’s demise comes after the pork company Fairfax Meadow voluntarily recalled meat products earlier that month after an unannounced inspection revealed issues with use-by date labeling.

Organizations need to learn to identify threats earlier, using the anticipative approach when there is still time to plan, rather than reacting to what has already gone wrong, scrambling in panic. With AuditComply, risk can be recognized and communicated across all levels of your organization. As the risk landscape continues to evolve, managing tomorrow’s risk means anticipating the future needs of your organization. Multiple teams across the world entrust AuditComply to provide a 360-degree, real-time visibility of their risk, using data intensive analytics and reports to engage at all levels of the organization, lowering risk profiles and empowering performance.

AuditComply’s issue management feature can avert future disasters with the ability to rectify any non-conformance before they have a chance to develop. In today’s ever more complex environment, this approach is fundamental for organizations in order to minimize their regulatory and compliance issues. AuditComply demonstrates that compliance, must evolve into a more proactive model that assesses risk and allows change to be implemented.

Entrust AuditComply’s bespoke grading and scoring system to reflect key performance areas, with triggers that allow you to assess issues, non-conformances and other potential risks. Until organizations get proactive about their risk management, traditional and manual processes will fail to identify the threats they face.  It’s time to shift the way of thinking from correction and more toward a system built around anticipation and prevention.

Are you willing to suffer the same fate as the frog?

About AuditComply

AuditComply is a Risk & Performance Platform. We focus on solutions that provide visibility and control from one centralized system. Empowering organizations to implement robust complex assessment methodologies through their desktop and mobile application. Providing a clear accurate understanding of risks across the organization and clear understanding into an organization’s risk profile. Using this data, to Mitigate Risk, Drive Compliance, Improve Quality & Power bPerformance.

For further information, please visit AuditComply.

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