spreadsheets are not good enough to manage your risks

Are spreadsheets still a cost-effective approach to risk management?

RiskMate provides a cloud based single platform that provides effective strategic and operational risk management across the spectrum of activity within the enterprise.

A cost-effective step up from traditional spreadsheet-based systems, RiskMate will allow you to track progression of risk management actions in real time therefore saving money and time by ensuring that managers throughout the organisations are fully engaged and that risk appetite is effectively embedded therefore supporting positive assurance claims in the Annual Governance Statement.

Implementing RiskMate is a straight-forward process as Peterborough Keys Academies Trust said:

“Set -up was trouble-free, guided by the expertise provided by Business Risk Solutions within the User Agreement, we were up and running ahead of expectations and our Board started to receive focused and timely information, which will be particularly useful in moving on from experiences with Covid 19.”

Peterborough Keys Academies Trust

This was provided by RiskMate’s functionality which is based on the “Three Lines Model” and which aligns inherent risk with objectives in order to promote a transparent risk mitigation process identifying relevant policies, procedures and controls that reduce risk to a residual level, before recording the management and independent assurances that are available in order to demonstrate effective governance.

Where further mitigating action is required RiskMate provides action plan tracking and formal review functionality, that drives effectiveness, providing a user-friendly platform for small and medium enterprises in the private, public and charity sectors.

“Foundation Scotland, a UK based Charity have recognised immediate benefits in relation to the responsiveness of the application, which has allowed time savings, effective tracking of progress and as a result establishment of a robust risk management process.”

Foundation Scotland

The risk management application can be aligned to further related modules providing administration of Complaints, Incidents, Whistleblowing and Freedom of Information requests all of which can be made available to external stakeholders through a dedicated web-portal.

Lench’s Trust, is an Almshouse charity founded in 1526 by William Lench and therefore one of the oldest in the West Midlands said:

“We’ve been using RiskMate for four years and noticed how its improved our ability to identify, manage and report upon what’s happening in the Trust, particularly regarding keeping the Board informed – we make Data-Driven decisions that impact on our care services as well as our bottom line.”

Lench’s Trust

Implementing a Risk Management software that is embraced by the organisation ensures that identification, documentation and assessment of risks is performed as part of routine management processes.

Jonas Software UK consists of a group of companies with global reach said:

“RiskMate offered us a cost-effective mechanism for maintaining an overview of events within our business; we identified a consistent understanding of risk appetite which allows effective reporting at Group, Company and Business Unit levels which is a vital contribution to our governance.”

Jonas Software UK

If your organisation has doubts about your current approach – why not have a look at RiskMate? A free 30-day trial is available, or alternatively request a virtual demonstration of the application when our consultant will be able to advise upon bespoke implementation and as a result how RiskMate will help you identify significant risks, act on issues and demonstrate your organisation is in control.