Why You Need To Identify and Manage Your Risks
As the world has seen in 2020 risks change quickly and it is therefore imperative that all businesses take time to consider what could go wrong and what can be done about it.
No matter what sort of organisation you are public, private or voluntary sector, staying on top of things is critical; so effective risk management is not something you do once and then forget about it, staying in control means consistently reviewing where you stand against achieving your objectives – whether operational or financial.
Consequently having user friendly risk management software acts as your aide-memoire, a routine review to make sure you have captured significant risks and implemented appropriate mitigating controls and a timely reminder to just check that the environment you work in remains the same and your risk response remains effective.
That’s why RiskMate has been designed to make your task as easy as possible and allow you to focus on delivery of the core business.
User-friendly Risk Register Software
Corporate Risk Management software should work for you. As a risk manager, your job is to review the data, confirm that it is current and comprehensive and that managers are proposing actions that your company needs to take to mitigate risks. You shouldn’t have to waste time gathering the information you need to compile a report upon which Board or the Executive Team can make a decision.
That’s why RiskMate offers a simple online dashboard to highlight the risk landscape of the organisation, report on trends and provide monitoring information regarding which managers have failed to complete agreed actions or review significant risks on a timely basis.
Of course this depends upon having an effective risk management strategy, a clear statement on risk appetite and a process that allows collection of all significant organisational risks, thereafter effective risk management software should allow automation of the process of delegating responsibility of risk management and reporting on the current risk profile.
Demonstrate Compliance With Ease
The true power of RiskMate risk management software is that when effectively deployed it allows the Board and those with risk management responsibility to rest easy at night knowing that the organisation can easily demonstrate evidence of effective risk management to all stakeholders.
Our system was built with the three lines of defence theory in mind; so RiskMate is designed to help you manage any perceived control gaps that have been identified. With maximum transparency and real time risk reporting, everyone will know their responsibility regarding maintaining a secure risk environment in which your organisation remains confident.
Encourage User Buy-In
Any risk management software and process is only as effective as the managers and directors who put it into action. If you can’t get effective buy-in, the Board won’t be able to monitor risks accurately and gain assurance regarding what matters most.
RiskMate makes it easy to encourage use with features like these:
- Simple, user-friendly interface that requires nothing more than an internet connection (no downloads or installs).
- Relevant definition of risk appetite across categories unique to your organisational structure.
- Real-time risk action tracking to mitigate identified gaps in control.
- Integration of existing policies and procedures into the risk management software to identify key controls and assurances.
Evidencing You Are In Control
RiskMate delivers risk management software which provides a structured approach to the provision of assurance to internal and external stakeholders (including potentially clients, suppliers, auditors and investors) that your Board is in control and the organisation is sustainable.
With quality risk management software, you’ll have the confidence that you need to demonstrate that the organisation identifies, monitors and react to the changing risk environment and deals effectively with risks that fall outside of your Board’s risk appetite.
Proving that your organisation has a trustworthy risk management solution in place has never been more important and now easier with RiskMate on your side.
Supports external reporting requirements – for example in the NHS in relation to NRLS (National Reporting and Learning System), KO41 (Department of Health’s reference to the national collection of complaints data reconfigured from April 2015, and collected by HSCIC – Health and Social Care Information Centre), STEIS (Strategic Executive Information System), SIRS (Security Incidents Reporting System) and future iterations thereof.