Question

Discuss enterprise risk management (ERM) in its most current form and how it has evolved to assess risk management in today's environment.

Answer 1

Enterprise Risk management- ERP is a business software that allows organisation to use integreated software that manage there business more effiective and efficient manner.
ERP has different function packages for different departments like HR, Finance, Technology etc.
Now a days ERP evolved to access risk management they can easily identified the risk by the software without any large human intervention. Due to ERP software its reduce the labour turnover and saving a time for better productivity where software are not there (like critical thinking projects)

ERP helps in various ways-

• Timely information is available
• Elimination of mistake
• Decreased cost
• accurate forecast

Because of these advantages we can easily identified any risk evolved in the organisation and it can be timely cure and saves cost.

I hope this clear your doubt.

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