The negative impact that unexpected risks can have on a business’ brand and financial bottom line has meant that increased visibility and, in turn, management of risk is becoming an ever increasing priority within the boardroom as companies try to gain competitive advantages and ensure sustainable growth.
With increased publicity around large scale business incidents, companies are realising that it could happen to them and are increasingly questioning what they have in place to make sure it doesn't.
While savings can be made in time and costs though the utilisation of Operational Risk Management Software, the implementation of key risk indicators also reassures stakeholders and customers, contributes to a risk aware culture and helps contribute to better decision making, all of which can have a positive impact on the bottom line.
Risk Management Benefits
- Increased visibility and control over enterprise risks, protecting the company in the future
- Improved business performance by creating relationships between Key Risk Indicators and business objectives
- The removal of silos and creation of a single point of truth for operational risks across the business
- More efficient processes , saving time and costs and ensuring relevant and reliable information on which to make decisions
- Increased business intelligence through heat maps and reports
Integration with Other Modules
- Incident Reporting: Individual incidents can be associated with completed risk assessments, quickly identifying the more dangerous or most at risk business processes
- Equipment Management: Asset records can be linked to risk assessments, recording which assessment applies to the equipment concerned
- Training and Skills: Association of risk assessments with job descriptions ensures that relevant documents are identified for new employees automatically
Risk Management Downloads