Risk management has received a lot of attention from international accounting bodies, regulators and risk management associations. Numerous guidelines have been developed to help manage and mitigate credit, receivables, compliance and supplier risk. Most of these guidelines follow: enterprise risk management (ERM), integrated risk management (IRM) and governance, risk, and compliance (GRC).

At the same time, a market for risk management software has emerged based on these frameworks. In 2020, the global market for risk management software was valued at $9.87 billion, and it is expected to reach $25.07 billion by 2027.

In this playbook, we discuss how quality risk management data and advanced data analytics lie at the core of risk management frameworks. The playbook highlights:

• The importance of commercial data in managing risk
• Why mastering data is a fundamental building block
• How a commercial data provider can help your company improve financial and operational risk management and prepare for ongoing external shocks

​