A Business CaseMidom Solution

A Compelling Business Case

Enterprise integrity is assessed based on its appeal to stakeholders
compared to competing enterprises.

As a multi-dimensional risk-encompassing reputation, brand, social, environmental, and compliance factors—it is categorised as a 'risk of risks', primarily manifesting as a consequence of operational risk failures. The losses from such failures can be catastrophic, even fatal, making integrity risk largely immeasurable and unquantifiable.

A severe integrity risk event, which resulted in an $8 billion loss in value for an enterprise, stemmed from a sequence of four operational risk failures.

A Compelling MIDOM Journey

Beginning the MIDOM journey, the founders recognized that the financial business case for introducing MIDOM is compelling. Alongside an exceptional Integrity Risk Governance Framework, the in-house platform offers online connectivity, interrogation capabilities, an end-to-end digital audit trail, and a one-stop engagement solution. The initial investment and annual support costs for MIDOM are substantially lower than the current costs associated with a fragmented, dispersed, and siloed collection of resources, processes, and systems.

Internal Benefits

Lower insurance premiums (e.g., Director’s Liability, Operational Risk Cover).

Reduced compliance and assurance expenses through a one-stop risk team, integrated reporting, and accessible end-to-end audit trails.

Improved operations and processing with a unified production platform, eliminating the need for spreadsheets, data transfers, and reconciliations.

External Benefits

Reduced regulatory capital requirements.

Fewer sanctions and fines

Enhanced market valuations with minimized goodwill impairments and brand write-downs.

The Business Case For Implementing MIDOM Is Clear & Compelling

Making 2024 the optimal time to go digital.

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