CASE STUDY:
Geetway Ltd is an asset management company. Prior to 2017, when Geetway was established as a management consultant Company, Geetway's risk team had very little control over its shared systems. Moving away from spreadsheet-based methods towards more scalable solutions was part of the business's growth plans.
Geetway's Project Controls Manager, Tim Moore, explains, "A new parent body organisation taking ownership of Geetway in 2018 was the opportunity for change. To that point, risk management was something that had been done to the organisation as opposed to being embedded within it. We wanted to have a widened approach and perspective coupled with tools of Risk Management that the organisation could use to demonstrate the value of our risk processes for the new scalability."
NOTE: This should be based on Geetway Ltd business organisation.
You are required to evaluate the various tools and techniques with a view to recommending the most appropriate of these to the Risk Team head according to the specifics of the company's business operations and its 'risk appetite'.
Question: What are the advantages of scalable solutions to an organization like geetway?