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Enterprise Risk Management Software is a digital solution designed to facilitate the identification, assessment, monitoring, and mitigation of risks across an organization.
Today’s organizations are faced with multiple risks that include financial, strategic, operational risks etc. There is a critical requirement for medium and large sized organizations to plan, control and manage these risks. The Likelihood and Impact analysis as a part of Enterprise Risk Management gives the senior management and board of directors a real time snapshot of risks faced by the organization and tasks to be undertaken to minimize them.
Risks can be rated based on Impact (severity) and Vulnerability (likelihood) to calculate the Total Risk Score. Same is represented as a Heat Map for a quick overview and decision making.
Identified risk details like Contributing Factor and High-Level Impact of the event can be captured. They can then be mapped to different categories like Financial, Infrastructure, Security, HR, Operations etc.
Owner and Managers get email alerts to update Risk Items before the Due Dates and corresponding status is updated in the dashboard. Real time Dashboards & Reports display Current Risk Score and Last Score for each risk item. The Heat Map graph can be used to identify high score risks for discussio
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