Conceptual Design Aspects
The VirtueSpark platform provides more than simply a list of risks and controls, topped with a bit of reporting. Our ambition is to provide risk managers and decision makers with a modern and value-adding solution so they can address the actual challenges of today’s risk management.
Everything is connected
Risks don't stand in isolation.
The main conceptual premise is that risks, controls, objectives and all other elements in the risk management universe never stand in isolation. They always interrelate with other elements in and outside the organization.
To reflect this idea, in the VirtueSpark platform are concepts applied that are known from object-oriented and agent based systems. Risks can be managed autonomously as before but now can be brought into context. Relations and interactions become visible.
To reflect this idea, in the VirtueSpark platform are concepts applied that are known from object-oriented and agent based systems. Risks can be managed autonomously as before but now can be brought into context. Relations and interactions become visible.
Visualization
Create insights
Visualization is one of the most powerful ways to capture the bigger picture and create insights. Insights are what helps to make better decisions. That is why VirtueSpark Enterprise Cloud is designed with visualization in mind. In order to ease working with the tool and to generate and share the important insights with stakeholders.
Across the supply chain
Break the silos by visualizing relationships and end-to-end dependencies across units and even the full value chain. A holistic view helps to understand relations across boundaries and does impact decisions for the better.
On the object
In the VirtueSpark Enterprise Platform universe everything is considered an object. A risk, a product, a unit... Independent from what perspective it is addressed: How objects relate across the whole landscape, what is connected to a particular object and where decisions might impact others can be seen at a glance.
Integrated risk management
Efficiently implemented Integrated Risk Management is a form of strong collaboration and trust, where it is understood that everything is interrelated and affects each other across organizational level.
On the VirtueSpark platform risk management is not only connecting the enterprise level risk management with the operational management of risks on the shop floor. The integration in objectives and opportunity management helps to easily identify and manage the key relevant risks for objectives. It also helps to better leverage the correlation of risks and opportunities.
The seamless integration with the other elements of the GRC landscape, such as governance and compliance, make it easy to collaborate along the operational workflows across roles and units.
On the VirtueSpark platform risk management is not only connecting the enterprise level risk management with the operational management of risks on the shop floor. The integration in objectives and opportunity management helps to easily identify and manage the key relevant risks for objectives. It also helps to better leverage the correlation of risks and opportunities.
The seamless integration with the other elements of the GRC landscape, such as governance and compliance, make it easy to collaborate along the operational workflows across roles and units.
Collaboration
Support for collaboration and cooperation between units and functions through notifications, workflow support and cooperative activities.
Extended the collaboration and involve your third parties through interfaces or as secure container on one single platform in order to manage dependencies along the entire supply chain.
Scalability
Spend your time and effort where it makes the most sense. Whilst for the one scenario a high-level assessment is sufficient, another might require a deep-dive analysis. Maybe with different scenarios or continuous monitoring and key indicators that are provided with a continuous data stream of operational data, and with thresholds that trigger alerts or automatically initiate actions.
The system supports both and anything in between and still ensures consistency in assessment and results. The decision on to what extent you want to use the system’s capability can be made case by case, just as appropriate Extended the collaboration and involve your third parties through interfaces or as secure container on one single platform in order to manage dependencies along the entire supply chain.
The system supports both and anything in between and still ensures consistency in assessment and results. The decision on to what extent you want to use the system’s capability can be made case by case, just as appropriate Extended the collaboration and involve your third parties through interfaces or as secure container on one single platform in order to manage dependencies along the entire supply chain.