The association aligns two organizations, with similar philosophies in terms of ERM (Enterprise Risk Management). Ollie states that IsoMetrix offer a technology solution that can automate Satarla’s ERM methodology, “we have a practical approach to ERM, consisting of a four-step risk management process. Any software that we recommend to clients who are implementing our methodology needs to be flexible enough to accommodate a simple yet scalable approach to ERM.” Both Satarla and IsoMetrix recognize risks are not isolated events, they relate to other risks. The IsoMetrix software allows for “many-to-many” or “real-world” relationships between risks.
What particularly excites Ollie about IsoMetrix is the software removes the focus on the risk register being perceived as a critical tool for managing risk. “I think that there is too much focus on risk registers as the be-all and end-all of risk management. Risk registers are helpful, they serve an important purpose in risk management,” he explains, “but all it is, is a database, one that can be over analyzed and not support the management of risk.” Ollie maintains the point of risk management is to do something about risks, “while it is important to analyse risks and prioritize them, it is also important to drive action and have reporting based on real-time data”. IsoMetrix helps to drive that action through standard software features available to all customers.
Satarla makes use of technology to embed risk management techniques and processes in an organization. “Processes execute a strategy and are the means by which you measure your objectives,” explains Ollie. “A software project for ERM should gain efficiency by automating the process. This is especially true for a large organization; using spreadsheets is inefficient and time consuming,” he says. Automation brings in efficiency and gives insight into data to draw the full benefit from processes that spreadsheets do not cater for. Furthermore, automation is quicker and produces reports in real-time. Ollie also argues that software allows an organization to reach a wider audience, helping to raise risk awareness, “you can involve more people from the front line of business, and bring the technical and strategic levels together to improve risk culture across the organization”.
According to Ollie, Satarla and IsoMetrix work well together because their approaches are flexible and IsoMetrix employs agile project management. This means IsoMetrix respond well to change; “this is good because risk management is an evolving process,” explains Ollie. “A lot of the time clients are developing their processes at the same time as implementing a software project. So, you must be responsive to change.” The IsoMetrix software itself is made up of building blocks of components allowing for unrivaled flexibility.
Adding to Satarla and IsoMetrix’s compatibility, in terms of risk management philosophy and methodology, is a shared pedigree in mining. “Currently, Satarla has over 50 associates based globally and around half of those have previously worked for a mining company. All of our associates have experience in risk management or sustainability,” says Ollie. There is a wealth of knowledge when it comes to mining and technology between Satarla and IsoMetrix, resulting in a good overlap in terms of approach and skillset.
IsoMetrix enhances Satarla’s service offering by positioning themselves as the ERM and EHS solution for mining companies. “As an ERM consulting firm, Satarla are making headway into the mining industry. We have worked with some of the largest mining companies in the world and our clients value our practical approach,” Ollie states. He summarizes why Satarla and IsoMetrix are well suited, “because we are both positioned strategically for our markets, and by collaborating, it will benefit our clients risk management and technology needs.”
Satarla is a risk management consultancy firm. Specializing in integrated, enterprise-wide management of risk, Satarla makes risk management accessible, practical, and valuable to organizations who use it. With a team of over 50 consultants based around the world, Satarla can offer risk management expertise in everything from engineering to finance, health and safety, mergers & divestments and strategy. Training, consultancy and research services are provided to clients from a range of sectors including mining, life sciences, energy, agriculture, sport, financial services, charities and governments. Satarla and IsoMetrix collaborate with clients on their software implementation and improvement projects.