FINANCIAL REVIEW
RISK TREND
INFORMATION TECHNOLOGY - SYSTEMS AND CYBER RISK
Risk Events
� Various cyber-related attempts ( especially phishing ) within the Senwes Group .
Description The company relies heavily on technology and innovative system developments . The main risks relate to archiving , capacity , data integrity , relevance , integration and adaptability .
Mitigation and Control An IT-strategy and management committee is in place and formal change , project and integration management is applied . Furthermore , extensive business and IT-disaster recovery processes have been established . Continuous focus is placed on IT-governance and improving the maturity of systems .
Opportunities
� Continuous internal system development to ensure that clients are serviced in a cost-effective and efficient manner . In addition , system development could be structured in a manner which ensures long-term sustainability , strengthens cyber security and data integrity , enables effective integration and ensures effortless adaptability aligned with the group ’ s strategic evolution .
Strategic focus areas triggered
� Reorganisation of business models .
� Unlocking value synergies .
For more info on the group strategy see p . 44
RISK TREND
URBANISATION , SCARCITY AND RETENTION OF SKILLS RISK
Risk Events
� Certain areas of high employee turnover and scarcity of certain skills within the diverse operating area of the group .
Description The group is exposed to rural and / or agricultural areas , not only with regards to business operations , but also with regards to the scarcity of necessary skills in these areas .
The recruitment and retention of right-fit employees are challenges in the industry and for Senwes . The rural operating areas of Senwes add to the risk exposure .
Mitigation and Control Our integrated skills development framework guides proportionate , yet balanced , investment in various skills development categories across all levels of the organisation . The framework sets clear guidelines for employees to acquire the full spectrum of training , ranging
Opportunities
� Optimisation of skills development and retention programmes as well as succession planning strategies .
� Define , develop and sell a working environment which balances the key attractive factors of urbanisation with the benefits of living in rural areas .
Strategic focus areas triggered
� Diversification , horizontal integration and consolidation .
� Reorganisation of business models .
� Unlocking value synergies .
� Increased investment in efficiencies within the value chain .
� Externalisation .
For more info on the group strategy see p . 44
from technical to job-specific skills , without neglecting the need for personal growth , people skills and leadership development .
SENWES INTEGRATED REPORT 2020
89