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Risk as a Service - The Next Thing in affordable Corporate Risk Management?
A ComTechAdvisory Whitepaper
SUMMARY
As the need to perform various forms of risk analytics
increases, many energy and commodity firms are
assessing their needs and finding that an E/CTRM often
does not provide the level of support or sophistication
needed. Those who have multiple E/CTRM solutions
and/or deal with other asset classes as well as
commodities, also need to be able to aggregate risk at
the enterprise level. However, adding the risk software,
skills and processes necessary to do this can be very
expensive both in terms of an up-front investment and
in terms of ongoing costs. Furthermore, there just
aren’t that many providers of risk or credit analytics in
the energy and commodity space and most of these
are small, niche consultancy-type firms so many firms
simply rely on in house developed solutions.
At a time when most commodity-related firms are trying
to reduce costs and increase efficiencies, having to invest
in expensive staff and homegrown or niche solutions,
doesn’t help. However, the emergence of managed
services and software as a service has created another
way to reduce total cost of ownership and increase agility
in areas of the business like, for example, scheduling
and logistics. Risk as a Service then is an area where
forms can ensure the application of more sophisticated
risk analytics to their portfolio while keeping costs under
control. FIS’ Risk as a service is an example of this trend
where a major financial services focused company with
a proven managed services capability into an industry
with a need for a high-level of security, has come to
market with a high-end advanced risk analytics software
solution – Adaptiv – delivered as a service.
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