White Papers Risk as a Service – The Next Thing in Affordable C - Page 7

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. © Commodity Technology Advisory LLC, 2020, All Rights Reserved. 7