Enterprise Risks Planning Or ERP In Short
Manage your risks in business in order to be sustainable and be considered as a Going Concern.
Keep an open mind, open your eyes and ears, be observant and try to plan for them, and quantify them for your own knowledge, wherever possible.
We CFOs call this “Enterprise Risks Planning or “ERP” in short.
These Risks can come in the form of Cash flow risks, Liability to Employees for Unconsumed Annual Leaves, Risk of good Employees leaving you, Risk of Loss to your Assets due to Fire, Risk of losing all data in your IT system and CRM database, risk of your clients going to your competitors, Keymen Risk especially when your Organization structure is very flat, risk of no successor to your business, and many more.
Do Not assume these Risks will disappear or will never surface.
Be Pro-Active, never Reactive.
Start your “ERP” today. Otherwise next year this time, due to whatever reason, your business may be a “History”.
“ERP” is a continuously updating and fluid process.
Do Not Stop “ERP”.
Take appropriate “actions” to mitigate these Risks. They will never disappear, but you can mitigate and manage them to go a longer journey.
Good luck to sustainable entrepreneurship!
If you need help, feel free to contact us at :
(O) +65 63851011
(M) +65 90880669
