Innovation Risk

Recent trends in areas like market expectation, increased globalism & competition, and increasing volatility have pressured organizations into examining their growth strategies and risk management processes around the topic of innovation. Not only are they at risk of being left behind by competitors, but since innovation often hinges on speed, all innovative efforts could be wasted if innovative risk is not managed efficiently.   

Nowigence aims to help further the link between strategy and growth officers. Our platform helps to enhance the connection between strategy/growth officers & risk officers by delivering relevant risks, in real time. The robust risk profiles generated provide immediate insight into risks associated with certain growth strategies. 

Bringing all risks associated with growth projects/ambitions forward and given a home accessible to both strategy/growth officers and risk officers, assists in defining the risk appetite all parties as willing to endure. Risk appetite metrics are usually broken down into potential impact on earnings, lack of adaptation to changes in the business environment and value gained or lost through adverse decisions.

Whether you are constructing new features or undergoing transformational innovative ambitions, Nowigence helps you to make data, market, and risk driven decisions when implementing growth ambitions. With Nowigence, you make the management of innovative risks a daily, dynamic process.

  • Monitor product launches and developments
  • Track details of emerging deals and innovative products/features as a result
  • Promote further alignment between risk and strategy/growth officers
  • Gain problem solution pairing and alert systems helping you adapt to changes in the business environment
  • Trend potential impact on earnings due to innovative risk