A Single, Centrally Accessible Risk Register
Our Risk Solution provides instant visibility of risk across the business
Many organisations are still using spread sheets to capture and track risks identified within the business.
These spread sheets are normally updated and shared using email which creates versioning issues. The ability to capture risk, track mitigating activity and providing specific insights for different stakeholders across the organisation is a further challenge.
Risk management can minimise the impact of risks on the organisation if it does realise. This ability to understand, quantify and control risk allows organisations peace of mind to focus on what they do best.
Organisations need to actively capture risks identified in the business. It’s important that these risks are categorised and ranked to ensure the appropriate response activities and are assigned to the right audiences and the correct controls are applied.
It’s also important that leadership has visibility of risk across the organisation to ensure that focus is placed on risk identified in areas with the highest likelihood and impact on the business.
Decision Inc. provides organisations with end-to-end risk management capability to mitigate and minimise the impact of risks if they do realise.
risk MANAGEMENT PAIN POINTS
Disparate manual systems tracking risk
Spreadsheet-based capturing of company wide risk
No clear risk appetite means missed ‘positive’ risk opportunity
No decision-making ability to due to outdated insights
Reactive approach to risk management has negative consequences
Siloed Risk approach creates disparities and misalignment
How our Risk Solution brings Enterprise Risk Management to your business
Enterprise Risk Management, via our Risk Solution, ensures that risk is captured, rated. It also provides tracking of assigned actions and associated people while providing tailored visibility to different areas of the business and management levels.
Functionalities our Risk Management Solution
Our Risk Management Solution provides organisations with end-to-end risk management capability to mitigate and minimise the impact of risks if they do realise. This ability to understand, quantify and control risk will allow organisations peace of mind to focus on what they do best.
Various features are available within the risk portal, designed to enable a single source of truth to view risk across your organisation.
Benefits of our Risk Management Solution
Multinational Retail Group unlocks effective risk management capability with Risk Portal
The Business Problem
A multinational retail company embarked on a journey to drive the improvement of its risk management by moving away from the traditional “risk as a policy” approach to one that focused on changing the culture and driving market differentiation through better risk management.
With several divisions and brands, they had to grapple with the reality of siloed thinking across the brands, different levels of maturity across the business, and risk excellence often being driven by the different managers’ understanding and appreciation for good risk management.
The Solution and Value
The client realised that effective risk management relies heavily on access to quality data. With thousands of stores and customer interactions throughout the day, there is a need for accurate data points.
As a result, the team invested in the Risk Management Platform. This platform is hosted on the Group’s current SharePoint Online environment. This integration allowed for extensive workflow automation designed to ensure risk tasks and actions are correctly allocated and managed.
It played an integral part in the client’s new risk strategy enabling: an integrated platform for documentation, a wholistic view of risk across the entire business, a single platform for the unique management of risk, and detailed analytics and data science capabilities.