Peachtree 2012 Annual Report Download - page 15
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Key risks
We manage risks carefully to ensure success for us and our customers
A key element in achieving
our strategy and maintaining
services to customers is the
management of risks.
Our risk management strategy
is therefore to support the
successful running of the
business by identifying and
managing risks to an acceptable
level and delivering assurances
on this.
See how we are mitigating these risks on page 40
The Board is responsible for the
operation and effectiveness of
the Group’s system of internal
controls and risk management.
There is an ongoing process
for identifying, evaluating
and managing the signicant
risks faced by the Group. This
process is regularly reviewed
by the Board and complies fully
with the Turnbull guidance.
Detail of internal control and risk management
is on page 57
External business
factors
Products and
services
Change
management
Intellectual
property
External business factors
As a technology company, operating in
many different countries throughout the
world, there is a risk that Sage does not
appropriately respond to external business
factors, such as changing business needs,
changing technologies, competitor activities,
compliance and regulatory requirements
and the economic environment.
Change management
Our strategy has sought to focus the
business and appropriately prioritise
resources. Given new business priorities,
there are risks associated with the change
management impact on employees, systems
and the alignment of talent with prioritised
business areas. In addition, while Sage
operates in a decentralised culture, with
many different operating companies across
the globe, there is a risk, as with any other
business, relating to key man dependencies
and loss of key management.
Intellectual property
Sage relies on intellectual property laws,
including laws on copyright, patents, trade
secrets and trademarks, to protect our
products. Despite laws and regulations being
in place, unauthorised copies of software still
exist. The internet provides new methods for
illegal copying of the technology used in
Sage’s products and services.
Products and services
There is a risk to Sage’s reputation and
future ability to grow as a business if
poor quality products and services are
released to customers. This risk relates
to both traditional on-premise products
and services and online, customer facing
products and services. In addition, for
online customer facing products and
services, Sage must ensure that it
adequately protects and secures
customers’ data.
Overview
Performance
GovernanceFinancial statements
13
The Sage Group plc | Annual Report & Accounts 2012