PwC and Microsoft join to address the need for transformed risk practices
February 04, 2021
PwC and Microsoft have joined to address the need for transformed risk practices buoyed by advanced artificial intelligence (AI) and analytics. PwC's new Risk Command suite of products embraces a traditional GRC workflow tool at the center of the solution and wraps connectors and best-in-breed solutions around it to create an enhanced armor of functionality around a core platform.
“PwC’s Risk Command is flexible to address the challenges that many organisations have with their GRC solutions. Our solution aims to integrate all the possible data signals within an organization to indicate risk and align them to create a better visualization of risk posture, says Andrew McPherson, PwC Partner and Global Risk and Regulatory Leader.
PwC's solution takes advantage of the scale provided by Microsoft Azure and its machine learning capabilities to continuously analyze enterprise inputs and provide insights to eliminate unseen risks. PwC's Risk Command suite addresses the major aspects of risk that any enterprise absolutely must monitor like third-party risk, fraud, corruption, AML, and trade compliance.
In a recent IDC Market Note titled Future of Trust Enablers: PwC’s Risk Command Leverages Microsoft AI to Transform Compliance (December 2020, IDC #US47188519), IDC analysts discuss PwC and Microsoft’s partnership to address the need for transformed compliance and risk functions. IDC states that “The global pandemic has placed renewed importance on business resiliency practices, which have been typified by focused risk mitigation practices. Governance, risk, and compliance (GRC) activities have long been crucial in protecting businesses and enabling resiliency.”
According to Justin Offen, PwC Partner and Global Forensic Technology Leader, “Risk Command provides clients with a solution to scale their risk management and create an on-demand risk-monitoring process leveraging the automation capability of Microsoft AI. This technology, combined with PwC’s consulting services, provides a holistic approach to digitally enable any enterprise’s compliance function and facilitates seamless, virtual collaboration across their teams.”
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