Automation is undeniably the key to effective risk management capable of tackling the ever-growing list of concerns. Automating security, risk, and audit procedures can simply disarm fraudulent actors, as well as inadvertent security violators from gathering the power to harm a business. Meanwhile, automation in a risk management framework helps ensure regulatory compliance, mask classified data, and optimize internal audits for true resilience.

Dashboards in Oracle Cloud ERP and Oracle Risk Management and Compliance, on the other hand, are also a critical element in effective risk management as they contribute exceptional business value via audit, security, and compliance data insights for neutralizing risks at the point of origin.

The effect both automation and dashboards collaboratively create is similar to the security framework used in credit cards. With credit cards, users get to place instant alerts on transaction limit exceed, or when there is a suspicious activity identified, e.g., the use of a card outside the territorial borders. This, in turn, affords them the peace of mind that their financial arrangements are duly protected with automated monitoring and alerting systems. Oracle Fusion Cloud Risk Management and Compliance offers the same level of robust and hassle-free alerting/prevention system for enterprises.