The key to maximise the value of Data for holistic Enterprise Growth
In the current highly volatile economic climate, organisations across industries are challenged with rapidly changing regulations to manage their risks, growing competition and intensified pressure in maintaining profit while balancing regulatory compliance, customer needs and shareholder expectations.
McKinsey & Company states “Data and analytics are reshaping industry competition and organizations’ core businesses at an accelerating pace. Companies with the greatest overall growth in revenue and earnings receive a significant proportion of that boost from data and analytics”.
As organisations progressively becoming ‘data-driven’ and critical business decisions/operations have heavier reliance on data and insights, there is greater need to ensure relevant data is of right quality. In industries such as financial institutions, Regulator are increasing their focus on Data Risk Management and Reporting standards to minimise the industry and economic risks associated with business decisions/operations impacted by poor quality data. E.g. APRA CPG235- Managing Data Risk, Basel Committee on Banking Supervision BCBS239 - Principles for effective risk data aggregation and Risk reporting.
We see Data Management as an integral part of Data strategy, that brings to life effective disciplines to ensure Data is of right quality and securely reaches right consumers at the right time, for business decisions and actions, in compliance with industry standards and regulations.
Understand its impact, opportunities and challenges
RegCentric has expertise in supporting our clients defining their Data Strategy and implementing Data Management disciplines with a framework, that includes right leadership, Technology/tools and operational functions with processes, policies and standards, to achieve sustainable and scalable business outcomes.
As Regulatory and Data specialists, we differentiate ourselves by taking a pragmatic, iterative and cost-efficient approach in our delivery, leveraging from other planned data centric investments within the company, (e.g. Regulatory initiatives), optimizing the overall enterprise spend, supporting clients to progressively unlock the value of data for exponential growth, while meeting regulatory compliance.
If you like to learn more about our services offerings, you can contact us.