In a time when more businesses are becoming aware of the importance of cyber security and protection from fraudulent threats, HM Land Registry have employed a Software as a Service (SaaS) specialist, Division Time, in mitigating risk to help protect its £4 trillion worth of assets in land and property.
Geoff Higgins, Managing Director of Division Time, said: “We have been entrusted by one of GB’s largest non-ministerial government departments to provide the risk-management solution for property and land ownership across England and Wales. This is a testament not only to the quality of our software developers but also to the ability of our team to understand and resolve challenges in risk management which are frequently overlooked,” says Mr Higgins.
“The risks associated with the management of a £4 trillion land and property portfolio are both complicated and diverse and include everything from legal risk and GDPR compliance to fraud and continuity of service. Data integrity is also a crucial issue as the records show legal ownership of land and property, ownership that underpins a huge element of our economy.
“Our solutions are often first adopted by boards and senior management teams but increasingly customers are seeing the benefit of embedding good governance, risk and performance management throughout their organisation.
“Good governance is now a central objective for all organisations. Challenges with systems and risk management in sectors such as finance, housing and utilities have risen in recent years. Boards and senior management teams everywhere are under more intense pressure than ever before to demonstrate sound governance and control. Decision Time is helping introduce improved control and understanding of risk and corporate and personal responsibility.”
This contract may highlight how risk management may be delivered in the future by technology and the increasing importance of PropTech companies because of their perceived safety and cost efficiency.
Should companies rely so heavily on technology to help make important and traditionally senior management decisions?