Technology and information
The Barloworld board is responsible for governance of group technology and information. The risk and sustainability committee provides oversight of IT governance and has delegated responsibility to management through the group IT steering committee.
Significant IT investments and expenditure are controlled in terms of the group's delegation of authority framework. Major IT initiatives are reviewed and monitored by the group IT steering committee and a quarterly technology and information report is tabled at the risk and sustainability committee and the board. Management regularly demonstrates to the governing committees that adequate business resilience arrangements are in place including IT disaster recovery.
Independent assurance reviews are conducted by internal and external auditors, and specialist providers on the technology supporting the group's technology and information arrangements. Findings and remediation progress are reported to the groups governing committees. There is continuous evaluation of the maturity levels of information security to address the evolving cyber-crime landscape. An independent assessment of the effectiveness of the Barloworld information security standard was conducted in the period with no material issues identified.
A group-wide initiative has been introduced to embed a continuous improvement culture in our businesses. The intention is to transform and simplify our processes; better understand our value streams, and build execution capability while harnessing value opportunities. The future focus of the group is ensuring that the digital initiatives within the businesses yield internal efficiencies and evolve the digital customer experience.
The group has specific focus on the risks associated with third party and outsourced service providers. The group has undertaken an assessment on the privacy posture in the various businesses to ensure that personal information of all stakeholders is adequately protected.