Risk Management Software
Today, ensuring visibility and control over increasing internal and external risks, (including operational, financial, brand and strategic risks) while maintaining the ability to attain key objectives, is a high priority for organizations. Providing pertinent risk information is an equally essential step towards ensuring strategic decision-making and efficient resource allocation.
More stringent regulations, frameworks (i.e. Sarbanes-Oxley, Basel II, Solvency II, COBIT, COSO, SOX), combined with an increasingly unstable business environment and the rise of new types of risks, such as increasing competition and new environmental concerns, also implies that the analysis, monitoring, mitigation and treatment of risk information is at the core of creating a resilient organization.
Whether a company is focused on building a Governance Risk and Compliance (GRC), Enterprise Risk Management (ERM) or Operational Risk Management (ORM) system, ensuring the identification, documentation and assessment of risks, appropriate control management and issue identification, in addition to implementation of recommendations and remediation plans, are key needs which can be addressed with Enablon’s Risk Management software.
As an integrated solution for risk identification, assessment and reduction, Enablon’s Risk Management Software covers the entire risk management cycle.
The solution enables companies to implement “top-down” and “bottom-up” risk management processes according to their particular organization, practices and methodologies.
Manage risks throughout the life cycle using a flexible and integrated platform
- Comply with the ISO 31000 standard to identify all risks across the company.
- Manage any type of risk with a centralized and common risk database.
- Cover all risk management activities from risk identification to reporting.
- Integrate natively with other applications within your Enablon platform to leverage signals and data from other business areas, and improve risk identification and assessment.
- Use multiple evaluation methodologies and aggregate risks for a live and global overview of your risks.
- Use a centralized action plan to manage actions over time, and keep risk levels up to date once action plans are implemented.
- Obtain a detailed risk context outline with Platform Master Data, regarding: projects, stakeholders, processes, regulatory context, etc.
- Conduct versatile risk assessments through flexible and comprehensive methodologies (i.e. bow-tie analysis, KRI monitoring, fully configurable risk matrices, inherent risk, residual risk, targeted risk and control effectiveness ratings, qualitative and quantitative risk assessment, etc.).
Ensure effective monitoring, reporting and decision-making
- Monitor risk management actions at any management level.
- Aggregate risk information from different entities to automatically generate reports or create them through ad-hoc queries.
- Use off the shelf reporting templates, including templates for risk mapping, treatment analysis and portfolio assessment.
- Gain Instant visibility on high-level risks through matrix and bubble chart reports.
- Aggregate financial impacts and risk & opportunity treatment costs.
- Achieve a company-wide overview of key risks through consolidated risk rating reporting, while enabling strong granularity thanks to evaluation methods configured by risk category.
- Narrow down risk assessments and identify redundant actions using the custom report search filter.
Treat risks and reduce potential impacts
- Leverage multiple risk treatment and performance management possibilities, regarding events, audits, insurance, EHS, supply chain, corporate governance, sustainability projects, etc.
- Assess different risks differently thanks to the solution’s flexible risk assessment methodologies, (including qualitative and quantitative risk assessments).
- Obtain company-wide risk ratings through documented evaluation methods.
- Categorize risks as threats or opportunities, in order to assess them differently and report on them separately.
- Conduct a comparative analysis of the costs and benefits from risk treatment. Identify top risks and opportunities to prioritize corrective and preventive actions (CAPAs) thanks to comprehensive aggregation reports.
- Enable risk owners and Chief Risk Officers to define optimal risk mitigation strategies based on the type of treatment linked to a risk and its action plan.
Establish Operational Risk Control Workflows
- Easily identify and capture risk information thanks to a detailed interview process.
- Enhance your visibility over risk assessment progress through campaign evaluations.
- Support bottom-up risk management processes through risk assessment campaigns, facilitated risk identification and analysis, and owner-validated risk flows.
- Mix different risk management approaches (top-down, bottom-up), to facilitate risk identification and analysis.
- Enable risk mitigation plans, risk mapping (charting of risks in a centralized database), and filtered identification and assessment of risks and hazards (i.e. per activity, job task, etc.) thanks to the advance occupational risk assessment module.
- Associate risks to specific controls, in order to analyze different applicable controls and rate the overall applicable level of control.
The Enablon Difference
- The most comprehensive platform for Sustainability, EHS and Risk Management
- Used by more than 1 million users in 160 countries across all industries
- Recognized by industry analysts across all product areas
- Accessible anywhere, anytime on laptops, tablets and smartphones
- A complete range of usage options, from SaaS to hosted and on-premises
- A flexible technology which can be tailored to each company’s processes and organization
- A global network of partners providing consulting, services, content and technology