Enterprise Risk Management Services Evolve From Compliance to Resilience
ALM Intelligence Pacesetter Research finds law firms entering the risk services market
New York, NY – January 14, 2021 – New research from ALM Intelligence finds the market for enterprise risk management (ERM) services evolving from a compliance-focused discipline to a management solution for strengthening organizational resilience. In ALM Intelligence Pacesetter Research: Enterprise Risk Management 2020, the strategies and service offerings of 14 providers identified as Market Leaders by the ALM Pacesetter Advisory Council are assessed for their ability to deliver client impact in today’s challenging business environment. The research also provides insights into the competitive dynamics and service delivery trends, driving convergence across insurance, legal, management consulting, and technology services markets.
“The business case for enterprise risk management has never been stronger,” says Liz DeVito, Associate Director and ALM Intelligence Pacesetter Research Analyst. “The events of 2020 have dramatically expanded the risk profile for every organization worldwide, and the uptake of ERM is accelerating at pace. Providers are responding with new frameworks and technologies to deliver tangible outcomes and strengthen resilience.”
- Providers designated as an ALM Intelligence Pacesetter treat enterprise risk as a transformation lever and have developed sophisticated frameworks to embed ERM into clients’ business models, operations, and culture
- Law firms are a growing presence in the enterprise risk services market as they respond to the call for General Counsels to provide strategic risk advice to C-suite and board executives
- All providers are focused on helping clients build risk resilient organizations using a variety of tools and technologies, including artificial intelligence, data analytics, behavioral economics, and design thinking
- The pandemic is driving strong demand for risk intelligence services which enable proactive and predictive approaches to managing enterprise risk
ALM Intelligence evaluates providers’ abilities to bring the full advantage of their extended organization, innovation capability, service delivery model, and brand eminence to create impact and value for clients. Pacesetter Research evaluated the enterprise risk management capabilities of 14 professional services providers for this research, including Accenture, Aon, Deloitte, EY, Gallagher, Guidehouse, IBM, KPMG, Linklaters, Marsh, Minter Ellison, Protiviti, PwC, and Ropes & Gray. Within this cohort, five ALM Pacesetters in Enterprise Risk Management were identified: Deloitte, EY, Marsh, Minter Ellison, and PwC.
ALM Intelligence Pacesetter Research provides independent, objective research to providers and buyers of professional services, coupled with practical insights that inform the decision-making process for strategic planning and procurement professionals.
For more information or to obtain the full versions of the ALM Intelligence Pacesetter Research series, visit: https://www.alm.com/intelligence/pacesetter-research/ or contact our Strategic Accounts Manager, James Doyle, at [email protected]
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