Abstract:

This paper examines the implications of digitization on risk management in Romanian companies. While in the last decade we observed the ascendance of digital technologies, our interest was to discover which is the most digitized domain on the workplace field, to discover the tools that are used in the process of digitization and to identify the impact of digitization on risk management in what concerns the benefits, challenges and the action plan that can be put in practice for risk management in the context of digitization. For accomplish all these objectives, a questionnaire was conducted in order to collect data among the companies from Romania. The results revealed that Romanian companies have a positive perception of digitization, the most used tools are mobile device, specialized software and fraud detection and authentication systems. Also, respondents believe that the main benefits of digital transformation on risk management are better transparency and higher quality risk management. Instead, the challenges of digitization on risk management digitization are management vision and obsolete systems.