Risk Management Insights

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18/05/2018 / Enterprise Risk Management, Risk Analytics, Risk Intelligence

Improving your insights into Risk with Historical Models

Enterprise Risk Management (ERM) software manages the processes and the risk related data that drive risk behaviour, including Risks, Controls, Issues and Actions, Incidents, Key Risk Indicators (KRIs), Audit Findings, Compliance Obligations, Risk Control Self-Assessment (RCSA), Compliance Questions, and Compliance Attestations to name a few.

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13/10/2016 / Risk Culture, Risk Analytics, Business Intelligence, Risk Intelligence

The Power of Risk Data - Risk Intelligence

Many organisations that have implemented risk management systems – be they for compliance management, incident management, health and safety management, financial risk management – have failed to realise the value of the data that they collect each day, week, month, quarter and year. The reason for this is that they have not appreciated the value of that data when viewed collectively, only focusing on the data in the context in which it was collected.

While focusing on ensuring that the right data is collected correctly is an essential element in the risk management process, the real value of a good risk management system is the ability to quickly and easily consolidate, translate and display the risk data in a meaningful way so that appropriate analysis can be undertaken and business decisions made, transforming it to risk intelligence.

The real benefit of your risk management system should stem from its ability to release the power of the risk data captured and stored in the system: taking risk data and transforming it into business intelligence.
 
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