Apr 2025
Fixing the tech without breaking the bank
Accounting for technology risk can be hard at the best of times, but how can universities mitigate technology risk in the current financial climate?
Higher Education Delivery Lead
In a recent article written for ALARM, a not-for-profit professional membership association that has supported risk management practitioners since 1991, Stan Neal explores five ways in which under-investment in IT can contribute to financial risk, and how you can mitigate it without an unrealistic investment.
In our work with universities, we see many clients with technology-related risks and financial sustainability on their strategic risk registers. Ideally, an institution with a robust risk management framework should be able to group issues across multiple strategic risks and understand dispersed risks.
In the context of financial challenge, there are multiple ways that under-investment in technology can contribute further to financial risk. The 2025-26 financial year may not bring the IT budget required to improve, replace, update or change IT systems as planned, even though these are necessary for effective service delivery, business efficiency and customer satisfaction.
The question to answer is: how can those risks be identified, managed and mitigated? How can risk professionals and IT teams work together to achieve the best (agreed) outcomes?
Read the article in full here.