Enterprise Risk Management
The importance of Enterprise Risk Management for strategic company decisions increases. With it, the need for integration and an enterprise-wide risk culture increases. Simple reporting of risks per unit or per region is not adequate any more. Instead integrated reporting and understanding how company objectives are impacted by the wide nexus of risks and opportunities across the whole enterprise becomes more important. Being able to master this leads to a strategic advantage for decision makers. It helps to focus on what is essential for success.
The VirtueSpark GRC Enterprise Cloud addresses smart and informed decision support throughout all dimensions of the enterprise. Designed for all stakeholders within and beyond the risk management process, the platform provides benefits for efficient execution and effective decision making to each individual.
The benefit of integrating enterprise risk management with the other risk management disciplines is obvious. Beyond more efficiency, it all ends up in better awareness, reporting and more informed decisions on all levels of the organization.
The VirtueSpark Enterprise Cloud for GRC is designed with the concept of integration and allows it in multiple ways.
- Integration with Operational Risk Management
- Integration with Strategy and Objectives
- Integration with Suppliers
Aggregation & Reporting
The VirtueSpark Enterprise Cloud for GRC allows the identification of risk dependencies and the aggregation of risks across the entire enterprise. Report on your risk situation on different levels and various dimensions – by risk taxonomy, department, region, affected assets or objectives, to name a few.
A healthy risk management culture is the baseline of a good risk management implementation. The VirtueSpark Enterprise Cloud for GRC helps you to foster your risk management culture. It helps you to integrate risk management in operational decision-making, manage training requirements and to communicate the risk management approach across the enterprise. The collaboration functionality helps employees to interact on risks and exposure across units.
FEATURES IN A NUTSHELL
INFORMED BOARD DECISIONS
Achieve better informed decisions on board level through deeper insights on dependencies.
RISKS, OPPORTUNITIES AND OBJECTIVES
Manage the interaction of risks and opportunities towards the company objectives for better analysis and decision making.
INTERACTIVE REAL-TIME REPORTS
Convince in meetings with interactive reports that show the actual as-is situation, straight out of the GRC platform.
Drill down to root causes of risks and provide targeted insights on implications for improved operational decisions.
FOSTERED RISK CULTURE
Enhance the risk culture with a collaborative risk approach and the ability to understand the bigger impact of decisions.
SUPPLY CHAIN INTEGRATION
Control and manage risks across the whole supply chain. Onboard third parties to collaborate on larger scale.
IMPROVED RESOURCE ALLOCATION
See where investments make the most sense and allocate resources where they have the biggest impact.