On the fourth challenge that companies are facing because of the Eurozone crisis - risk management - Gartner said the crisis is making CIOs and CFOs rethink their risk models.
"Prior to the crisis, enterprises were already challenged to identify enterprise-wide risks in a holistic fashion to link those risks to the performance of the business and to manage risk in a time-effective manner," Furlonger said.
He added: "Now, the CIO - and corporate treasurer, head trader, CFO and others - need to ask questions such as, 'Can existing risk models accommodate alternatives to the lack of historical data (in many cases, as much as three years of back data is required) necessary for regression testing/yield curve analysis of hedges, and for stressing asset and liability portfolios in the event of a redenomination in all or part of their asset and liability portfolio?"
"Unlike recent economic difficulties, today's crisis has the potential to totally undermine the Eurozone, the whole EU and beyond," said Di Maio. "Spurred on by the pervasiveness of the Internet, the crisis negatively affects every enterprise or individual doing business in or with the region. The CIO's top responsibility is to guarantee business continuity."
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