Managing risks: EY accelerates digital risk solutions with Spectra

By: | Published: August 29, 2018 12:39 AM

The risk analytics platform is being used by firms in financial services, life sciences, consumer products & retail sectors.

EY officials informed that this unique risk analytics platform helps businesses derive structured analysis by providing real-time business insights through visualisation to enhance customer engagement, increase revenue and to lower costs.

Even as data management has become a priority, the struggle to store and analyse data to make informed governance, compliance and risk avoidance decisions continues to rise among companies. Enter Spectra, a unique risk analytics platform from consulting firm EY.

Recently, EY announced its plans to roll out Spectra to three high-priority sectors, namely, financial services, retail and consumer products and life sciences. Sardul Seth, partner – Advisory Services, EY said: “A minor data security breach can have a considerable impact on an organisation’s reputation and performance. Spectra not only addresses such security loopholes but also helps enterprises secure their businesses and drive innovation. It brings together our combined expertise in helping businesses manage risks more efficiently and identifying bottlenecks by turning information into intelligence.”

Powered by comprehensive digital and cloud technologies, Spectra has been playing an instrumental role in providing end-to-end risk intelligence support to organisations in the chemicals and industrial products domain. Safex Chemicals India, a leading company with a strong foothold in the Indian agrochemicals industry has been one of the early adopters of Spectra. Within just nine months of Spectra’s deployment, it led the organisation to improve business efficiency and embark on a digital transformation journey with an increased focus on customer centricity.

Piyush Jindal, director, Safex Chemicals said, “At Safex Chemicals, it is our constant endeavour to provide sustainable and affordable products to our customers. EY Spectra provides us insightful intelligence and has helped us gain a competitive advantage in our day-to-day business processes and faster decision making.”

EY officials informed that this unique risk analytics platform helps businesses derive structured analysis by providing real-time business insights through visualisation to enhance customer engagement, increase revenue and to lower costs. With the help of Spectra, business leaders can drastically reduce the time spent in analysing data, identify inconsistencies and make well informed decisions

A unique combination of EY’s cross-sector advisory experience and data intelligence, Spectra can help accelerate the digital transformation journey of businesses across industries.

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