Enterprise Risk Management Software (ERM)

Identify, assess, control, exploit, finance and monitor risks with IsoMetrix ERM Software

 

 

The IsoMetrix Enterprise Risk Management software solution provides a central platform with an integrated combined assurance approach to manage all risks faced by organisations.

The solution allows you to identify, assess, control, exploit, finance and monitor risks from all sources and at all levels of the enterprise, for the purpose of maximising the long-term value to all stakeholders. Once risks are identified and described, a systematic process of assessing, prioritising, controlling and monitoring is triggered.

What does our software offer?

The Enterprise Risk Management solution includes the following modules:

Integrated risk management
  • The identification of key controls through the organisation’s business processes
  • Risk identification and assessment by business unit and risk taxonomy
  • Identification and tracking of Key Risk Indicators (KRI) against their associated risks
  • Identify and track emerging risks and bring them into your risk register as required
  • Combined assurance assessments across all lines of defense
  • Action management
Risk Based Audit
  • Annual audit planning by business unit and top risks in line with Audit Committee expectations
  • Predefine audit scope based on the top risks identified in the planning phase
  • Pre & post audit checklist management and sign-off
  • Audit team and budget management
  • Audit program management including control assessment by business unit, unlimited working papers, findings, coaching notes and action plans
  • Comprehensive sign-off steps through process flow
  • Audit reporting in your organizations format with easy export to Microsoft Word or Excel
  • Action management
Loss Event
  • Enterprise incident logging by actual or potential loss event against business unit and category
  • Loss and recovery details
  • Incident investigation escalation based on severity classification
  • Root cause analysis
  • Comprehensive sign-off steps through process flow
  • Action management

The IsoMetrix Enterprise Risk Management Software solution seamlessly integrates with IsoMetrix Compliance Management, IsoMetrix Governance & Ethics Management, IsoMetrix Health, Safety & Environment Management and IsoMetrix Sustainability Management solutions. IsoMetrix removes the inefficiencies inherent in managing multiple systems, simplifies reporting, and provides a single source of the truth.

IsoMetrix is an agile application framework which allows non-technical people to quickly and easily configure solutions to their requirements, thus enabling a high level of alignment with the business methodologies of the enterprise including ISO 31000, COSO, OCEG, BS 31100, FERMA, SAM and Solvency II to name a few.

Through the creation of custom-designed modules and dashboards, your IsoMetrix Enterprise Risk Management solution can evolve over time as your business matures and your requirements develop and grow.

IsoMetrix ERM dashboards – analytics powered by QlikView

Insightful and interactive dashboards, designed to drive operational improvements at all levels of the organization.

  • View risk at all levels of the organization
  • Track emerging risk trends
  • Track key risk indicator movements against associated risks
  • Identify key control weakness and failures
  • Track and manage audit findings
  • See trends in loss event incidents
  • Monitor action plans to completion

ERM Software Dashboard

Enterprise Risk Management Software Risk Management Dashboard

ERM Assessment Dashboard

What are the benefits of Enterprise Risk Management?

  • The combined assurance functionality enables the audit committee to provide a coordinated approach to all assurance activities
  • Facilitates risk assessments and manages data such as risk event, matter and criteria. Likelihood and consequence estimates, as well as targets set by management, are tracked against each risk
  • Enables business process owners to take direct responsibility for management controls while allowing auditors to focus on key risks
  • Helps manage Key Risk Indicators (KRI) and through notifications and dashboards assess their impact on associated risks
  • Internal Audit facilitates risk based independent validation processes and systems
  • Enables the management of business incidents and loss events as an integral part of risk management. This serves as a starting point for containment, corrective action, and preventive action
  • The Action Manager collates actions arising from all the ERM software modules in a powerful process-flow driven consolidated action plan. Through the alerts and dashboards, the management team is able to ensure accountability is taken for specific tasks, driving continual improvement
  • Facilitates the tracking of action plans to address and identified findings, loss events, risks or deficient controls
  • Provides comprehensive dashboards which offer enterprise wide visibility into risk and highlights issues that need to be addressed

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