An increasingly interconnected & complex world of business corresponds with a heightened need for robust corporate risk management. Whether at a project, portfolio, or enterprise level, organisations and risk managers need a way of capturing risk data, and their action/treatment plans to manage risks on a day-to-day basis. Senior management and boards also need to see how these risks might then impact upon the company’s ability to meet corporate objectives, and to report back to shareholders on their principal risks. Microsoft Excel is sometimes used for this purpose, but has severe limitations in terms of reporting, visualisations, data rollup, logic, and auditing capabilities.
At the other end of the scale, many enterprise risk management (ERM) systems take months, or even years, before they’re ready to go-live for customers, who then struggle to make use of a tool which doesn’t match the exigencies of managing their risks. Sometimes the systems are unable to provide an accurate picture of risk across the portfolio. Or they will work for the business unit that has pushed for their adoption, but are unusable by other parts of the organisation. A further complication is that the system companies need at first, will look very different from the one they want five years downstream. This leaves companies an unenviable choice between a tool that is too complicated to begin managing their risks with, or one that is too simplistic as processes mature over time.
riskHive Enterprise Risk Manager is a hyper-configurable system that is easily mapped to existing frameworks and risk registers, and can be ready to go-live within hours or days. The system can be used as a risk database for individual projects, geographies or functions, or to provide organisations with a helicopter view of aggregated risk, across the portfolio or business. Designed for maximum flexibility, riskHive Enterprise Risk Manager can be set up in exactly the way that clients want to work, whatever stage of risk management maturity they’re at. It is also the only tool on the market which can then easily be re-configured to meet client’s needs as they evolve, at every stage of their risk management journey.
With fully customisable reports taking seconds to prepare instead of days, and a massively decreased admin burden of data collection & entry, riskHive Enterprise Risk Manager allows risk managers to focus on the most important part of their roles: managing risk. When performed effectively, in an effective system, risk management greatly increases the likelihood of projects being delivered by deadline and within budget. Portfolio risk analysis then helps companies navigate choppy waters, as well as highlighting potential opportunities and benefits of alternative options to decision makers. riskHive ERM’s configurability provides organisations with a tool that’s streamlined & tailored to meet the exact needs of their business, or a fully ISO-compliant system which follows industry best practice in the management of risk.