Building Resilient Businesses in Africa with Technology Risk Management

As the business environment grows increasingly volatile, we believe that there is a need for corporations to build resilience to overcome unexpected setbacks. To understand how businesses are looking at resilience, specifically from a technology perspective, Wipro commissioned FT Remark to conduct a study in late 2013 covering 330 C-suite executives from corporations with revenues exceeding USD 500mn. Executives from Europe (34%), the USA (31%), APAC (24%), and Africa (11%) were approached to gain a better understanding of their perspectives on business resilience.

Regulatory compliance and legacy systems affect African firms as much as their global counterparts. However, a major gap in their resilience strategies seems to be an apparent lack of concern for cyber threats. In this report we discuss these findings in detail to understand how organizations in Africa are building business resilience.

Report Sneak Peek

 
 
 
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Key highlights

  • Risk monitoring and value add are top priorities: 73% of respondents said that the most important factor driving resilience spending is that it helps establish a framework to continually evaluate risks.
  • Understanding of technology risk is inadequate: Nearly 1 in 5 respondents said that their boards do not have a good understanding of technology resilience. This was the highest fraction among all geographies.
  • Knowledge and trainings are essential: For 3 in 4 respondents, the single biggest challenge in implementing resilience initiatives was that their employees lack the necessary skills and expertise.