Risk Management Software
The most successful organizations incorporate risk management strategic planning phases. Boards want the ability to manage current risks in addition to planning for unforeseen risks. Before risks can be managed, they must first be identified to understand the nature and scope of the risk management solution that must be implemented.
What Is Risk Management?
Risk management refers to the process undertaken by a company to identify, analyze, and—if possible—mitigate threats to its bottom line. Risks come in all shapes and sizes and affect every facet of a business. Labor strikes, court judgments, political trends, personnel turnover, natural disasters—these are just a few examples of risks that can adversely impact a company’s finances and operational effectiveness.
Each department from financial, IT, legal, operations, business development, and even marketing must be involved to properly identify all risk. Many evolving risk frameworks exist and have been applied in variations from COSO II, ISO 31000, OCEG, Basel II, and COBIT, leading to a fragmented set of methodologies.
Lack of Systematic Method for Collection and Organization
While technology has helped evolve operations, it has also created the potential for oversight. With different policies, procedures, regulations, and agreements stored in spreadsheets across the internal network, businesses not only experience issues with organization, but also the risk of compromised data. Organizations need to systematically identify, measure, prioritize, and respond to all business risk. Managing exposure to risk has become difficult.
Risk Management Solutions
With Aruvio’s risk management software, organizations can utilize a number of highly effective tools designed to address their threat assessment and mitigation needs.
Advanced Risk Assessment Capabilities
Aruvio provides an integrated yet flexible risk management framework for defining contracts, mapping controls, assessing threats, documenting compliance, and managing audits, in addition to identifying and mitigating incidents.
- Risk calculators
- Risk weighting
- Risk heat maps for risk analysis and monitoring
- Risk visualization and reports
- Configurable Risk Registers and Risk Catalog
Intelligent Content-Driven Features
Aruvio’s comprehensive system mixes software + content to conclusively handle every aspect of risk management.
- Integration of risk management best practices
- Ability to define scope of processes and sub-processes
- Pre-configured regulatory controls library
- Upload or directly create custom of controls and policies
- Control mapping
- Access to training content from expert communities
Please contact us for a FREE demo or more information about the risk management solutions available through Aruvio.