Telecom companies today depend on third-parties to help run their operations. One corporation may have a long list of suppliers on its payroll. Alliances, partnerships, and other relationships can also make part of the business. Granted, they contribute to the success of entities. The only thing that does not work is that they can put the firm at risk for one reason or the other.
Thankfully, extended enterprise risk management (EERM) exists to help reduce the problems that a company can face with third parties. This implies that it is vital even for new business persons looking for telecom business for sale not to start any operations without thinking of implementing an excellent risk management program. There are various reasons EERM is vital for telecom firms and some of them are discussed below.
It Helps Businesses to Have Better Risk Cultures
A business that understands the types of risks it can face from outside forces naturally has better ways of mitigating these tragic events. Ultimately, this can result in reduced volatility giving the establishment a great competitive edge. Preparing well in advance for future risks can help minimize business interruptions, so that everything falls in place as it should.
Enables Investors to Treat Risk as Opportunities
Extended enterprise risk management matters to businesses because it looks at risks in a holistic manner. Businesspersons can view risks in another way as opportunities to go a step further. Investors get to know how to position themselves best to take advantage of market opportunities.
EERM ensures that you are ready for any risks that may come your way. Seeing the risks coming in way before means that you will not blindly walk into a regrettable situation. This ensures that you are always a step ahead in regards to tracking risks that may crop up in the future. As a result, it becomes easier to develop workable strategies making certain your business will not be affected too much on the negative side.
Enhanced Risk Reporting
Another reason it is important for telecom companies to implement extended enterprise risk management strategies is the fact that it helps to support better risk reporting measures. EERM supports more effective reporting, structure, and analysis of third-party risks. This way, a company can have standardized reports that executives and directors can use to come up with improved ways on how to handle these risks. The leadership can identify the areas of business that are more prone to risk. The reports can also help leaders to have a better understanding of risk thresholds, tolerances, and appetite.
Offers Framework for Evaluating Risk
EERM comes in handy when it comes to developing indicators that assist in detecting risk events that can attack an entity in the future. This is beneficial because it makes it possible for the parties involved to offer early warnings. Extended enterprise risk management also offers a more comprehensive viewpoint on different types of risks so that they are handled in the proper way should the risks ever arise.
Better Use of Resources
In an establishment that does not have ERM, you may find that many people have to involve themselves in the process of reporting and managing risks. In most cases, it may not be necessary and a firm may end up wasting resources on this matter. Extended enterprise risk management programs assist a company in regards to enhancing the tools and framework that are used to perform risk management. Note that this does not do away with day to day risk management. It, however, gets rid of redundant processes by making certain that the proper amount of resources are employed to handle risk.
Before you get too excited about getting the flagship phone for free, we must inform you that this is sadly not the case. A few reports on the internet had suggested that the UAE based operator Etisalat is giving away the HTC 10 for free to some of their customers and after some research, they turned out to be expectedly misleading. Don't get us wrong though, Etisalat is still offering a great deal on the HTC 10, but it's just not giving it away for free like the rumors suggested.
The actual offer of the telecommunications company includes zero upfront, two-years of warranty, enhanced screen insurance and offer on Uber rides with every purchase of the HTC 10 smartphone. The lowest monthly payout for the plan is only Dh105 and you will even get a free home-delivery if you order it online. The offer on Uber ride extends up to Dh100 and the added insurance from HTC on display damage will extend up to six months, during which, all broken or damaged displays will be repaired for free.
Khaled Elkhouly, who is the chief Consumer Officer at Etisalat, said that he feels that this new smart pay option will make the HTC 10 more affordable to their customers and will also help the smartphone reach more buyers. Nikitas Glykas, President of HTC MEA expressed his excitement at the newfound partnership between Etisalat and HTC. To us, it sounds like a great deal as well, given the fact that the HTC 10 has received international acclamation. In case, you just want to pick up a HTC 10 free of contract in the UAE, you can do so for a price tag of Dh2,399.
Author: Saikat Kar (Tech-journalist and enthusiast)