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Info Sharing Session: How to Manage Invisible Risks That Threaten Your Business

27 October, 2016
8:00 am - 10:00 am


27 October, 2016 @ 8:00 am - 10:00 am

BarnOwl Info Sharing session: 27 October 2016

How to manage invisible risks that threaten your business

Presented by Terence Singh, Director, Ruhi Consulting

We were delighted to have Terence Singh from Ruhi Consulting present to us on the 27 October 2016 at our info sharing breakfast. What a great presentation; very thought provoking and pretty frightening for any person in business. Thank you Terence for your time and insights.

When we consider what it will take to succeed in business and stay in business, we look at the world and market place around us, we benchmark ourselves against our known competitors, we monitor what our competition is up to, we measure our market share, we work hard on our competitive advantage / unique service offering. When we identify the risks in our business be they external or internal and we perform our SWOT analysis, we tend to focus on what we know, life as we know it, the competitors we know. This is pretty normal behaviour one would have thought?

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The essence of Terence’s message was that this traditional approach to risk identification is not good enough and that we don’t spend enough time considering the speed of technological advancement and how many unforeseen competitors are out there looking for a gap and already working hard at chipping away at our traditional businesses. It seems inconceivable that established businesses with huge brands, huge marketing muscle, assets, bricks and mortar that have been built up over 50+ years can be threatened by young start-up businesses with very little means and in a very short period of time.   Consider the following few examples from Terence’s presentation where large companies felt safe in their businesses until new technology disruptors came along out of the blue:

Hotels felt safe, since they had buildings and then came along: Airbnb
Taxi companies felt safe, since they had cars and then came along:  Uber
Retailers felt safe, since they had shops and then came along:  Alibaba.com
Media companies felt safe, since they had assets and then came along:  Facebook

And the frightening thing is just how fast these start-ups not only get going but take over. Uber launched in the USA for the first time in 2010 and by 2015 was in 450 cities in 66 countries with revenues of $62.5 billion.  One can see all around us how fast technology is changing and the impact that it has not only on our businesses but on our personal lives as well. Imagine how many technology disrupters are out there being worked on as we speak.

Imagine when you can ask the likes of Siri for professional advice on almost anything from legal, to medical, to consulting etc. Imagine how todays’ professionals be they lawyers, insurance brokers, GP’s, consultants  will need to adapt their service offerings when heuristic (Artificial Intelligence) computers and robots know more in 1 minute than what a professional has taken 10 years to learn (and has forgotten half of what he / she has learnt if it is still relevant).

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Look at the way banks have changed from bricks and mortar to online and now more recently ‘Blockchain’ which is set to revolutionise banking and contract / transactional settlements across geographies and jurisdictions.

Not to mention the IoT (internet of Things), Cloud computing, Robotics, Artificial Intelligence etc. And what about genetic engineering and the way medicine is set to advance and the certain ethical dilemmas that will abound. Imagine the number of uses for drones and the businesses they will threaten and change. What about electric cars like Tesla. Will we still need oil / petrol?

Terence paints a very real picture and says: ‘The most unexpected risks usually comes from competitors you don’t know, from industries you don’t know’. Terence also gives some advice in terms of identifying these left-field risks. Keep an open mind, look for trends and speak to your kids to see how they think and do things!

You can download Terence’s presentation here and download a video of the session here once it is available. Once again thank you Terence for your most enlightening presentation and to all those who braved the traffic to come to BarnOwl’s info sharing event.

Written by: Jonathan Crisp

Director – BarnOwl GRC and Audit software


About Terence Singh:

Terence is a director of Ruhi Consulting, a strategic consultancy focusing on strategy consulting, deal origination and fund raising for small business.  Terence spends some of his time at an internet startup, Matchi, which sources innovative financial technologies and matches these technologies to financial institutions globally. Terence has a wealth of experience having been a mining research scientist (at Mintek for 4 years), lectured at a university (2 years), and developed household chemicals at Reckitt Benckiser (3 years). Changing tack, he ventured into strategy consulting at Monitor Company for 2 years, advising corporates in multiple industries. He then joined Nedbank Capital, where he spent 12 years, occupying several positions including originating M&A deals in corporate finance, as well as spending several years as an Executive Head of Strategy, Marketing and Human Resources.



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GRCReady is the official provider of risk management content for the BarnOwl GRC software solution. GRCReady provides extensive risk libraries and risk maturity checklists/surveys which are integrated with BarnOwl.

GRCReady, based in Australia, offers a comprehensive and holistic library of products and associated services including templates, policies, procedures, guidelines, checklists etc.t to help owners and directors of SMEs, startups and corporates to satisfy their corporate governance, risk management and regulatory compliance needs.

By integrating GRCReady's rich content libraries into BarnOwl's GRC software, we are able to offer our clients a state of the art, turnkey GRC solution.

GRCReady provides, arguably, the most comprehensive risk and governance maturity assessment framework with detailed steps and artefacts. BarnOwl's survey and action plan portal provides a simple and effective way to monitor and report on your current state of risk maturity and suggest and drive remedial action plans to take you to your desired state of risk and governance and maturity.

By integrating GRCReady's risk libraries with the BarnOwl GRC software, means that you don't have to start from scratch. In addition, ongoing updates and insights keep you informed and up-to-date on best practices.



Season Rhyrhm is BarnOwl's preferred partner in Botswana assisting with BarnOwl implementations, support services and client relationship management.

Season Rhythm is an established and distinguished player in the ICT sector in Botswana, specialising in a range of cutting-edge solutions. Season Rhythm leverages BarnOwl to provide tailored GRC&A services to businesses in Botswana facilitating:

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  • Risk Management: Equipping businesses with tools to identify, assess and mitigate risks, safeguarding against potential threats and ensuring continuity in a business environment.
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BarnOwl works closely with NSA in the field of GRC and assurance.

NSA is an education and risk & assurance advisory services provider, consisting of a team of professional consultants and facilitators who have been hand-picked on experience and expertise. NSA services include:

  • Strategic intervention: 30 expert consultants facilitating strategic planning, combined assurance, effective governance and risk management assignments.
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BarnOwl and NSA work closely with our clients to align and enable best practice GRC and assurance framework & methodologies within BarnOwl. NSA regularly presents online information sharing sessions together with BarOwl.



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Nico Technologies Limited is an established IT products and services provider in Malawi, specialising in managed IT services, IT infrastructure services, IT project management, digital solutions, digital transformation and IT advisory.

Nico Technologies uses BarnOwl extensively within their own organisation to automate and manage their own risk and compliance functions.



Morgan Solus is BarnOwl's preferred business continuity specialist consulting firm with its 'BCM toolkit' software. BarnOwl GRC together with the BCM toolkit, provides a comprehensive risk management and BCM software solution.

Morgan Solus is a specialist consultancy firm focusing on risk, resilience and continuity. Morgan Solus's core services are centred on resilience, crisis management, business continuity (BCM), IT services continuity and disaster recovery (DRP) and training.

The BCM toolkit ensures a consistent approach to implementing BCM and IT disaster recover and cuts down implementation timelines by 60% whilst driving up successful outcomes.

BarnOwl's extensive GRC and assurance functionally coupled with Morgan Solus's BCM toolkit provide the ultimate risk management and BCM software solution.



Arbutus Analytics is Barnowl's preferred data analytics software. BarnOwl GRC integrated with Arbutus Analytics, provides the ultimate in continuous risk monitoring.

Arbutus Analyzer is a powerful data access and analysis solution specifically developed for auditors, business analysts, and fraud investigators. Its robust performance and user-friendly features offer you the ability to access and analyse data quickly and simply.

BarnOwl GRC, integrated with the real-time metrics from Arbutus provides a strategic early warning system driving preventative and predictive capability facilitating effective business decision making business improvement.

www.arbutussoftware.com with local sub-sahara African distributor www.betasoftware.co.za


Barnowl works closely with Pax Resilience in the field of GRC and sustainability.

Pax Resilience offers solutions in risk, resilience and cyber security. Pax Resilience strive to create peace of mind by assisting you to build the resilience in your organisation so essential to survive and thrive in the volatile, uncertain, complex and ambiguous world we live in.

Pax Resilience regularly presents online information sharing sessions together with Barnowl.



Paige Law is the official provider of compliance content for the Barnowl GRC software solution. Paige Law provides an extensive Library of South African acts including provisions [CRMPs] and checklists which are integrated with Barnowl.

Paige Law specialises in compliance, Commercial Law, Legal process consultancy, managed legal services and POPIA/ GDPR.


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