Identify risks early and make the most of opportunities
A risk and opportunity management process based on an open corporate culture represents an essential building block of value-oriented corporate management. In addition to fulfilling legal requirements, modern risk management software for companies must above all be able to individually implement internal company requirements.
With the R2C_GRC software solution, all relevant employees of the company can be involved in the risk management process with precisely defined access rights. Thanks to its intuitive usability, the software optimally supports all process participants and provides them with the necessary information in a user-friendly format.
In this context, the software offers many great opportunities: It can be freely configured and thus optimally adapted to the size of the company as well as the organisational structure and the risk management process. Information is mapped in a structured manner analogously to the respective stage of the risk management process – from identification and assessment to analysis and reporting of risks for the company.
Our software solution covers various areas around Governance, Risk & Compliance. For example, it provides support through:
- a user-oriented, intuitive operating concept
- integrated risk and process atlases
- extensive monetary and non-monetary assessment procedures
- predefined standard reports and the option of creating additional individual reports
In addition, the risk management software R2C_GRC is characterised by a high degree of scalability, which enables adaptation to the most diverse maturity levels of the company's internal risk management. In this way, the solution not only facilitates your regular risk reporting, but also supports you in the implementation of regulatory requirements such as COSO ERM, ISO 31000 and ONR 49000 ff as well as IDW PS 340 n.F. – a complete solution for Governance, Risk & Compliance!
As an elementary component of value-oriented corporate management, risk management is the process of making optimal use of opportunities while taking existing risks into account. All the key decision-makers and experts in a company are involved in an active risk management process. Motivating all persons concerned is the prerequisite for sustainable benefits from the risk management process.
Usually, the specific corporate and project risks are known "by feel" in the individual departments and are often also recorded in some form. However, when it comes to amalgamating the individual risks at the business management or group level and making appropriate decisions taking into account the risk situation, process support through an efficient IT solution provides the decisive advantage.
- Integrated risk atlas with example risks, possible measures and standard questions
- Risk catalogue function for top-down risk process
- Mapping business processes and linking risks inherent in the process
- Monitoring early warning and performance indicators
- Recording and evaluation of causes of risk
- Qualitative and quantitative assessment as well as mixed assessments
- Various distribution functions, e.g. triangular distribution, normal distribution, PERT distribution, scenario distribution, rectangular distribution, multinomial distribution
- Freely definable assessment target variables, e.g. EBIT, cash flow
- Consideration of assessment perspectives (gross, net and/or target)
- Any number of assessment periods, incl. calculation of cumulative risk
- Optional opportunity management
- Multilevel risk aggregation
- Use of any dimensions for non-monetary risk assessment, e.g. ESG (Environment, Social, Governance), reputation, environment, criminal liability, etc.
- Automatic calculation of the total impact from monetary and non-monetary assessment aspects
- Clear evaluation pages for results analysis
- Analysis and evaluation of the risk portfolio in relation to company organisation, process structure, general responsibilities or risk categorisation
- Scenario analysis (Best Case, Most Likely Case, Worst Case)
- Annual and target variable analyses
- Monte Carlo simulation for calculating the Value@Risk and Conditional Value@Risk with freely definable confidence levels
- Definition of any simulation portfolios, e.g. per risk category, business process, company, etc.
- Integrated action management for efficient action tracking incl. freely configurable e-mails to remind those responsible to process actions on time
- Evaluation of actions with regard to effectiveness, costs, scheduling, implementation status and responsibilities
- Automatic monitoring of deadlines
- Integration of Microsoft Outlook to perform tasks for staff without access to the application
- Process support for cyclical reporting through freely filterable standard reports and self-generated individual reports
- Reporting templates for adaptation to individual requirements at any time
- Comprehensive dashboards through the integration of Microsoft Power BI
- Clear cockpit functions
- Tamper-proof historisation and journalisation
- Comprehensive export/import functions
Software that covers the entire risk management area of a company has many advantages over the traditional risk management method using Excel or on paper:
- Authorization-controlled access to elements: it is possible to control in detail who can edit or read which elements
- Journaling: it is understandable who made which changes to the elements and when
- Historization / archiving function: historical reports and comparisons of current and historical data can be generated at the push of a button
- Online evaluations and ad hoc reports: Analyzes can be generated at the push of a button and data can be processed
- Direct data acquisition: everyone involved can directly record the data; there is no need to consolidate individual risk reports (Excel sheets) that have to be sent to central risk management
- Easy expansion of the risk management process as part of the standard functionalities without additional programming
- central distribution and control of tasks (measures, controls)
- increased liability on the user side
- Quick integration into the existing IT landscape
- Intuitive operation and multi-lingual user interface
- Comprehensive configuration options within the standard solution
- Structured system design and consistent process support
- Quick illustration of complex and extensive organisational structures
- Numerous online views for process control and risk analysis
- Clear depiction/assessment of individual risks/the entire risk portfolio
- Support of various assessment and aggregation methods
- Simple configuration, short introduction times
- Increased acceptance of risk management thanks to clear depiction
- Revision security due to logging function
- Independent process changes within the software without additional costs
- Access protection via role-based authorisation concept (need-to-know principle)
- Integrated opportunity evaluation to support company management
- Risk simulation for automatic calculation of total risk
- Easy compliance with legal demands and national/international standards such as ISO 31000
We would be happy to advise you on all matters to do with risk management!
In a personal discussion, we will consider with you which software solution would be the perfect match for your risk management process. You will also have the opportunity of taking a look at our software solution in a free webinar – get in touch with us!