SureCloud has launched Risk Manager, a cloud application that enables organisations to identify, assess and manage all types of risk, streamlining risk management processes and giving a central view of risk across the enterprise.
Risk Manager replaces ad-hoc, manual spreadsheet-based risk management processes, and makes it easy to harmonise processes across business units for identifying and managing all types of internal and external risks, including market, operational, project, legal, IT, financial and reputational risks. The solution lets organisations simultaneously support multiple Risk Frameworks, such as COSO and ISO.
The SureCloud solution provides pre-built risk assessment templates, support for multiple risk libraries to record and categorise risk events, and risk registers to consolidate information from risk assessments, such as description, likelihood, impact, controls and mitigation activities. It automatically creates alerts and tasks to notify users of control failures resulting in increases in risk, which need investigating as a priority. A suite of dashboards and reports allow aggregation of risk across the enterprise in real-time, providing summary or granular analysis and reporting.
Nick Rafferty, COO of SureCloud said: “It’s common to find that each department in an organisation approaches risk management in a different way, typically using manual-paper based processes. It’s not only laborious and inefficient, but it also makes it difficult to get a unified view of risk across the organisation. Risk Manager breaks down these departmental silos and automates processes, making it easier for companies to get a clear, centralised view of their risk profile from a business perspective. Risk mitigation is increasingly seen as an integral part of business strategy and decision-making, so the ability to harmonise processes, quickly identify and report on risks, and take remedial action delivers real operational benefits.”
