GRC On-Demand: Risk Assessment
Identify, assess, manage, and control all risks throughout your business in an easy-to-use and comprehensive application
GRC On-Demand: Risk Assessment enables you to conduct efficient risk assessments throughout your business. The application framework ensures that you remain compliant with best-practice regulatory standards and guidelines while getting the most benefit from the information provided by the risk assessment process. All aspects of your business can be incorporated into the application including business structure, processes, objectives, and workflows. Through its comprehensive dashboards and reports the application ensures that all risk information can be easily analyzed and all mitigating actions tracked to completion.
Standard Risk Framework
Perform risk assessments according to best-practice standards right out of the box. Customize the standard framework to suit your needs.
Meet Compliance Standards
Comply with international risk management standards such as ISO 31,000, AS/NZS 4360, COSO, and others right out of the box.
Dashboards
View all risk data in a series of informative dashboards. Summaries, graphs, charts and drill-down functionality.
Risk Reports & Analytics
Perform detailed analysis of all risk information with dynamic reports. Customize standard reports or build your own.
Business Processes
Analyze business processes for risk and identify weak points. Link risks and monitor internal controls for each step in your business processes.
Business Objectives
Determine the impact of risk against your business objectives. View risks in context with your goals as an organization.
Identify Causes
Find and control the true causes of risk in the organization. Manage all causes with full task management, workflows, and detailed reporting.
Manage Internal Controls
Identify and enhance internal controls with detailed ratings, task management, correct assignment of responsibility, and escalation of outstanding actions.
Treatment Plans
Create and monitor complete treatment plans to ensure risks are correctly mitigated. Migrate completed treatment plans into new internal controls.
Risk Workflows
Create custom workflows for approvals, tasks, escalations, and so much more. Be pro-active in managing risk and prevent actions slipping through the cracks.
Financial Impacts
Provide real financial data to better quantify risks. Backup ratings with quantitative data from other systems in your company.
Integration
Link up and share data with business audit databases, control monitoring solutions, incident management databases, and all other SCS Modules.
GRC On-Demand: Risk Assessment allows you to proactively identify and handle operational, financial, reputational, IT, and other types of risk connected with your business.
The solution is based on best-practice standards for identifying all types of risk, rating their likelihood and impact, and linking them to causes and internal controls. It also provides real-time dynamic reporting and dashboards which can be used to analyze risk information for optimal business performance.