Risk Management Strategy

Risk Management Strategy Software and Systems 

A modern day business will be faced with many risks and challenges and it is the task of the management team to implement a risk management strategy to minimise the potential negative effects of such risks. Every business will have a variety of risks posed at various levels within the enterprise. A risk management software system such as IsoMetrix will be able to manage all kinds of risks, at all levels of the business. The system’s functionality includes identifying, assessing, controlling, monitoring, exploiting and financing all risks faced by the business.

 

Risk management systems will help companies take a closer look at various departments and decide how to handle various posed threats. Some general and typical risks that business management teams need to take into consideration include:

  • Potential damage caused by natural disasters and accidents.
  • Litigation from staff members or members of the public.
  • Environmental hazards such as pollution, hazardous chemical spills, climate and so on.
  • Occupational health and safety.
  • Security breaches in the form of theft, fraud, loss of intellectual property and so on.
  • Hiring, firing, replacing and disciplining of staff members.

 

These are just a few of the risks that an average business might be faced with that risk management systems need to address.

 

There are various risk based standards that you might want your business to operate in compliance with and IsoMetrix manages risk in accordance with the following:

  • COSO
  • Sarbanes-Oxley
  • AS/NZS
  • ISO 31000
  • King III

 

The system does not only assess or identify a risk. It helps organisations to implement a plan and then gather reports and statistics on the effectiveness and results of that particular plan so that improvements can be made. Real time access to information and reporting is made possible with this system and is a great benefit to management teams seeking out compliance and smooth running operations.

 

There are various modules that the IsoMetrix software system incorporates, such as the following:

  • Internal audit manager
  • Risk assessment manager
  • Legal compliance manager
  • Loss event manager
  • Combined assurance manager
  • Central action manager

 

When a business’ management team is aware of the potential risks faced by the business and also has preventative measures in place, decisions can be made with greater confidence. Decision making is made a simple task due to the system’s ability to provide real time reporting and graphical representations of relationships and trends. Gathered data and information is effectively translated into useful information that can truly drive the business to increase profitability and prosperity.

 

At Metrix Software Solutions, we present the IsoMetrix system to the market at an affordable rate. We encourage all businesses to take advantage of the convenient and user friendly interface that this system has to offer. Because it is web based, there is absolutely no need to spend any time and effort installing a program onto your computers. You and your management team will be provided with user names and passwords and then you can easily log onto the system from any computer, anywhere – as long as you have access to the internet.

 

The system is absolutely simple to set up and once you have done so, you will have access to information that is pertinent to making informed and confident decisions. Of course our team is always available to assist you if you have any trouble shooting issues along the way. In addition to this, updates and advancements to the system are made immediately available to you as the web based system will automatically update.

 

At Metrix Software Solutions we want nothing more than to assist you with setting in place a risk management strategy that safeguards your business against risk and the potential loss that it represents.