There are three main reasons why risk professionals struggle to keep up with challenges.
Task delegation. Organizations are increasingly deconstructing their value chain by delegating tasks to SaaS solutions.
Keep up with growth. Risk management and compliance departments can’t grow their teams fast enough to mitigate or classify the associated risks with SaaS solutions, which is exasperated when SaaS solutions don’t provide System and Organizational Controls (SOC) reports.
Solutions management. Inconsistent management of inherent risks associated with SaaS solutions across the organization can be problematic.