Its reporting and analysis modules track people risk, regulatory risk, business risk and environment, social and governance risk. Feedback-driven reporting increases the visibility of opportunities and achievements. Automatically secures users against data breaches, workplace hazards, vendor compliance failures, production disruptions, regulation compliance failures and more with its highly configurable interface.
Tenants can access it to utilize tenant services like broadcast messaging and vendor contact information. In the 21st century, organizations have to deal with all sorts of risks and vulnerabilities on a daily basis. Selecting the right risk management software can save you from massive financial losses in the future. So, it’s okay to take some time to figure out your exact requirements and shape your expectations accordingly. We hope this guide will help you find the perfect match for your risk management needs.
The upgrade to 4.0 was not as transparent as hoped and feedback and information provided was not always what was given in the end. Risk Management was traditionally studied with a focus on Financial Risk or Insurance Risk. Additionally, financial risk management is a more quantitative subject, whereas ERM is more qualitative.
Oracle’s Primavera Risk Analysis is a full lifecycle risk analytics solution. The platform helps determine confidence levels for project success together with quick and easy techniques for implementing contingency and risk response plans. With Primavera Risk Analysis, teams can identify common scheduling pitfalls, while integrated, pre-developed risk registers help in producing accurate risk analysis results. The Primavera’s Templated Quick Risk feature uses a template approach to assign uncertainty risk distributions to tasks based on the work breakdown structure, activity code, user-defined field, or filter.
Resolver's Enterprise Risk Management application is aligned to internationally recognized frameworks, including ISO and COSO ERM, to standardize risk management. With consistency across the entire organization and simplified processes, you'll enable a risk culture that delivers actionable data and insight. The OpenPages GRC Platform is a very versatile and powerful risk, governance and compliance tool, that offers great value.
Create an objective, value-added approach to risk prioritization through key risk indicator data. 360factors empowers organizations to accelerate profitability, innovation, and productivity by predicting risks and streamlining compliance. Organizations must be able to respond, predict and mitigate risks with agility in response to ever-changing business conditions as well as manage overall business risks under an umbrella of strategic risk-based culture. Taking a proactive approach enables organizations to increase efficiency, decrease resolution times, collaborate more effectively, and achieve insight into issues and complaints trends. See how Diligent's Enterprise Risk Management program turns risk management into a strategic advantage.
Technology offers a bottom-up, data-based ability to classify existing risks and identify new risks based on reliable information. Not only that, the more you integrate ERM into your existing processes and collect data around those processes, the more powerful your risk management will be. While most companies focus on innovation and growth, only resilient companies are successful over time because their business strategies also address risk and preparedness.
With our Risk & Opportunity Register and Corporate Risk Register, it is easy to identify, analyse, and manage risks across all departments that affect the functioning of an organisation. Enterprise Risk Management is the activity of risk identification, assessment, and management. Technology is transformative within the ERM arena, just as it is in so many other enterprise processes. Technology accelerates the power of enterprise risk management in three essential ways. Your ERM framework’s purpose is to help you identify, assess, and analyze key business risks—and minimize negative business impacts if those risks come to pass. The ERM framework must be context-driven and modeled across all lines of business, as different functions are vulnerable to different types of risk and at different levels.
Due to high accuracy and full coverage of risk-weighted assets across multiple jurisdictions, this end-to-end solution enables strong capital payback. It provides the optionality to apply advanced treatments for exotics instead of conservative approximations (e.g., breaking down a cap/floor transaction into individual caplets for each flow). This allows for an accurate calculation of exposure-at-default and a global optimization of the capital charge at the enterprise level. Data mapping richness helps clients cut costs and effort required for extractions, mapping and reconciliations. It avoids mapping issues and brings implementation efficiency and day-to-day accuracy. To obtain or maintain an internal model method waiver, the PFE solution can complement SA-CCR in capital calculation.
The platform’s flexible taxonomy allows for widespread use across multiple departments and business units. Its risk library can store documentation for various obligations, including claims, audits and assessments. The supported list of frameworks and regulations include ISO, NIST, COBIT, GDPR, CCPA and more. Risk Prioritization The ability to single out critical threats can be crucial to agencies dealing with a large number of risks daily.
Starting from $0.01, Virtru is priced for those with smaller budgets and is most fitting for any sized business. Virtru can be deployed in the cloud and on-premise and is accessible from a fewer number of platforms including Windows devices. IDX is a distinguished application that ranks 5 among all Risk Management Software according to our research analysts. Starting from $3.88, IDX is priced fairly and has offered a free trial in the past. IDX can be deployed in the cloud and on-premise and is accessible from a limited set of platforms including Windows devices.
Manage, store, and track organizational documents and records to analyze and mitigate risks across processes. Implementation of various Gensuite Benchmark Digital modules has allowed the city to move from a paper based operation to digital process delivery. It has also allowed the organization to track its risk metrics in a very effective and efficient manner, as it has not had the ability to do this prior to this system launch. Unite your entire team or company and collaborate with remote experts and colleagues in real time. Complementary to the on-premises deployment model, XVA solutions can leverage a version-agnostic business process as a service offering for intensive computation. Risk control can monitor the SA-CCR in addition to the existing CEM framework in a single system.
As an example, with SA-CCR, when collateral management is managed within the same MX.3 platform, the exposure-at-default measure can be reduced in real-time while improving its accuracy and reliability. MX.3 offers an end-to-end enterprise-wide solution used by more than 120 customers across all tiers to meet regulatory requirements. The solution provides a complete view of the risks taken by the organization. It supports historical value at risk , expected shortfall, stress testing and profit and loss explanations, all of which can be computed both with full revaluation as well as Taylor-based calculations.
Enterprise risk management software enables risk and compliance leaders to more effectively and proactively protect their organization from loss, fines, and adverse impacts. The solution supports full management of limit excesses, whether caused by intraday activity or end-of-day batch. Breaches are routed to a proper investigation and resolution of causes—this provides efficiency to the risk controller.
Synergi Life is a risk management tool by DNV GL, targeting enterprise-level business applications. It comes as a complete business solution for risk as well as QHSE management. The platform helps users manage risk assessments and analyses, non-conformances, audits and provides a channel for suggestions for improvement. It also uses workflow processes to help teams communicate, report, manage corrective actions and experience transfer, trends and KPI monitoring. Each component module within Synergi Life measures compliance against formal regulations, stipulations, protocols and standards.
Users can link risks to projects to conduct vulnerability assessment as part of the standard decision-making process. The platform allows teams to communicate on the risk management process within the organization and with outside stakeholders or clients. CURA’s Goals & Objectives functionality lets project managers examine and monitor each member’s performance and activity, related to risk remediation. CURA comes with a highly configurable risk reporting feature with flexible dashboards. Diligent is a cloud-based vulnerability management platform designed to meet modern-day security demands. Integrated risk management capabilities automate the entire process – from discovery and assessment to treatment and documentation.
The technology retains full representation of underlying financial contracts, maximizing credit risk officer analysis capacity in a constrained timeframe. A high-performance simulated PFE calculation engine gives end users access to an accurate real-time intraday exposure. enterprise software solutions At Banorte, we successfully implemented the Murex PFE solution to enhance the analytical credit risk solution and deploy more modern credit limit management metrics. This rollout of PFE was made possible thanks to our partnership with Murex and its upgrade as a service.
Instead, risk management cloud solutions can be deployed quickly―often within days. Potential risks can be very scary for a company, but the best way to prepare for them is to communicate effectively. Compliance managers can use their ERM tools to outline potential compliance risks on a project, create an action plan, and assign tasks to avoid them. This way, everyone knows what they’re responsible for, and they can work together to spot and stop emerging risks quickly, improving regulatory compliance. Offer real-time insights into risk management programs through powerful analytics, advanced heat maps, reports, dashboards, and charts. With Integrum, teams can access potential and identified risks from a centralized hub where data can be moved from one board to another via drag and drop option.
You can track active risks in real time, evaluate risk data, configure workflows and get regular alerts. Risk Assessment This feature allows risk owners to track and analyze business processes in real time. Based on their evaluations, you can prepare a register of critical risk data. However, with increased usage of risk management software, there’s a lot to unpack.