Avoiding “IoT Inertia” in the Oil and Gas Sector Requires an IoT Strategy
To understand how the practical application of Internet of Things (IoT) technologies can potentially transform traditional operations and create value for businesses, just look to the oil and gas sector. Digitalization of oil fields began in the industry years ago. And now that sensors are more affordable, even small and midsize companies have the ability […]
Disruptive Innovation Tops Boards’ and Execs’ List of 2018 Risks in New Survey by Protiviti and NC State ERM Initiative
Although board members and C-suite executives perceive a slightly less risky environment overall in 2018 compared to 2017, concerns remain. Top among them – disruptive innovation impacting existing business models and whether organizations are able to overcome organizational resistance to change to respond to this disruption in time. Leaders are less concerned about macroeconomic issues […]
Drastic Measures in the Oil Patch Helped Survival – But Can They Translate into a Sustainable Cost Management Program?
The oil bust, which began shortly after prices peaked at nearly $108 per barrel in June 2014, has pummeled U.S. producers. According to the U.S. Energy Information Administration, oil and gas production jobs declined 26 percent and rig count plunged 78 percent from October 2014 through May 2016. Meanwhile, global oil and gas capital spending […]
Digitalization Expands Audit Scope Into New Territory
Organizations across industries are racing to migrate analog approaches to customers, products, services and operating models to an always-on, real-time and information-rich digital business model. Using technology and digital advances, such as analytics, social media and smart embedded devices, these organizations are radically improving the performance and reach of their enterprises. This has profound implications […]
New Insurance Data Security Model Law Requires Prompt Action
In October, the National Association of Insurance Commissioners (NAIC) approved the Insurance Data Security Model Law (Cyber Model Law), which establishes standards for data security, as well as investigation and notification requirements for cybersecurity events in the insurance industry. The Cyber Model Law requires licensees – insurers, agents, or other entities regulated by state insurance […]
Wealth 2022: Wealth and Asset Management Firms Need to Get the Trust Equation Right When Going Digital
Fintech companies have had great success in the lending sector of the financial services industry because customers are more comfortable with being in control when borrowing money than when they are handing over their own money. This fact leads to a point I emphasized recently at a media breakfast in London to talk about the […]
