Improve risk management
The reputational damage that can occur for companies and their boards that fail to properly manage risk is a major threat to consider.
The board cannot and should not be involved in the day-to-day risk management so they don’t need a cumbersome spreadsheet. Instead a high level view of live risk information will help to improve risk oversight and increase transparency around this process.
The heatmap view of all risks is available on the tablet app or on your PC browser, and gives an overview of all risks from which board members can drill down.
The Controls module provides a framework for managing different risks that may impact your business.
Each risk has an appointed ‘owner’ who receives scheduled reminders to review and action any necessary task. As reviews are completed and checks implemented, owners can put the necessary controls in place, attach supporting documentation, assess incidents and review the impact / likelihood scores, providing a full evidence record for future reference.
All the time the board has instant access to be able to monitor and review the risk management process.