Only 30% of enterprises are mature enough to actively mitigate digital risks, although over 90% of risk leaders have them on their radar, according to an AuditBoard survey of over 125 risk leaders conducted this spring — pointing to a gap in organizations’ ability to appropriately assess and manage these risks.

Many enterprises have accelerated investment in digital transformation initiatives to modernize, gain business efficiencies, and meet the demands of a dispersed pandemic environment. With this increasing digital dependence, organizations will likely need to mature their risk management programs to keep pace.

Digital Risk Maturity Report 2022: Turning Digital Risk Into Your Competitive Advantage, details how survey respondents currently undertake digital risk management at their organizations. Key takeaways include:

• Organizations’ risk management capabilities aren’t maturing fast enough.
  • 63% of respondents said they were still in the early stages of defining and assessing digital risks.
• Risk teams are struggling to generate quantifiable metrics.
  • 84% of respondents answered “no” when asked if they were using reportable metrics to effectively manage digital risk.
• Investing in risk management technology will be critical to keep pace.
  • Only 32% of businesses are using cloud-based risk management software.

Download your free copy of the report today to view the full results and see how your organization compares.