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Here’s what’s in the digital-transformation tool kits of companies that manage risk best

As companies go digital, they create new risks, such as loopholes that hackers can exploit. Companies that have already built sophisticated risk-management teams are applying their resources to find and mitigate them.

Reported use of transformation practices by risk-management maturity level (chart)

Chart: Companies with higher risk-management maturity use several transformation practices and tools to manage risks.

Reported use of transformation practices by risk-management maturity level,1 % of respondents
Risk-management maturity level Retrain personnel Automate processes New tools Reengineer processes Redesign organization Did not use tools
5 100 100 100 80 60 0
4 66 56 51 74 40 0
3 64 44 42 78 48 6
1–2 74 36 32 62 42 8
Average 69 48 45 73 46 5


1Question: At a company like yours, how mature are digital and analytics risk-management capabilities? Companies rated their risk-management capabilities from 1 to 5, with 5 representing the most advanced in effectiveness and efficiency.

Question: What levers would a company like yours use to identify and reconcile risks associated with digital and analytic transformations?

Source: McKinsey Global Survey on Digital and Analytics Transformations in Risk Management, 2020

McKinsey & Company

To read the article, see “Derisking digital and analytics transformations,” January 5, 2021.