The effectiveness or success of a business organization depends on the collective effectiveness of each of its processes and departments; the same goes for governance, risk and compliance programs. A risk in one department may affect other departments and have repercussions that may not be immediately identifiable. The business environment today is dynamic and subject to innumerable external and internal risks. Therefore, to drive business growth, it is crucial that these risks are eliminated in time. A business needs hassle-free, effective ways of risk detection, assessment and mitigation throughout the entire organization.
The IPIX ERM solution is a strategic app that allows you to get the most out of your ERM program and helps propel growth and create and preserve value. It helps you perform GRC activities, and shows you which business goals they impact and how. The IPIX Enterprise Risk Management app connects all of your business data through a suite of relationships, standards and libraries and presents a structured and logical approach to handle risks across the organization.
Our app evaluates your organization, business and capability for managing upcoming risks; by bringing all your GRC data in one place, the IPIX ERM software helps to align this capability and synchronizes the various GRC activities.
The IPIX ERM solution affords a precise perception of pan-organizational risk with a focus on the most critical risks, through the deployment of standardized methods of risk assessment. The software analyzes numerous quantitative and qualitative factors to undertake multi-dimensional risk assessments, and devise a risk profile for the organization.
The IPIX ERM app provides real-time insights into the ERM program with rich reporting capability, robust analytics, charts and dashboards. From planning to execution, our professionals have a practical approach to measure and mitigate risk, with the aim of integrating the ERM solution throughout your organization.
Best ERM Software solution which has best features including synchronizing the GRC activities & more
Storehouse of Risk and Process
The IPIX ERM software allows identification and classification of business goals, processes risks and controls, so that relationships across these elements can be set up and maintained. You can also use the centralized risk structure and library to record and monitor a number of enterprise risks and related data like the classification, definition, ownership and hierarchy.
Evaluation and Analysis of Risk
The User friendly interface of the IPIX ERM app allows you to easily plan, schedule and perform risk assessments with sophisticated tools; on completion of assessment, the results can be sent for re-examination and approval.
Support for bottom-up and top-down methods of risk assessment is provided, and simple assessments can be performed with just rating risks. Use multiple elements and advanced risk scoring process for an advanced assessment. This enables meeting variations in approaches to risk assessment across regions, business units and products. It also allows definition of computing logic for intrinsic and residual risk scores, and heat map analysis.
Control Design and Assessments
The IPIX ERM software enables the defining of controls according to COSO, COBIT and other industry criteria and allows creation of assessment and control test plans. You can use surveys and questionnaires to rate the effectiveness of the design and its operations, and use interactive dashboards to scrutinize the results and take stock of the status of control evaluation.
Measuring Key Metrics
One of the crucial features of the IPIX ERM solution is monitoring the chief risk, control and performance objectives indicators. You can perform advance risk mitigation by configuring thresholds to identify potential risks early on, and route alerts and breach notifications to the relevant persons to facilitate quick decisions.
Managing Issues and Actions
Document the results of risk assessments and control testing and suggest strategies like altering existing controls or setting up new ones for issue remediation. Our ERM software lets you track and close the status of the actions implemented at each phase.
Monitoring and Reporting
Dashboards provide real time data about pan-organizational risk management activities. View risks classified by risk level, product, organization or process with dynamic heat maps. Sophisticated key metrics visualization offers a comprehensive view of your risk program. The ERM app also lets you customize your home page according to your specific analytic requirements.
Key BenefitsERM Software
- Improve communication and facilitate uniformity in classifying risks through a central risk and control database
- Ensure conformity to industry standard structures, techniques, and risk assessment models with efficient workflows
- Carry out quantitative and qualitative risk assessments and organize and combine the risk scores depending on your specific requirements
- Make informed decisions with the help of business intelligence, sophisticated analytics, and key metrics dashboards
- Monitor and close findings effectively with integrated action planning
Enterprise Risk Management for Insurance companies, Cloud Computing, Banks, Community Banks, Small and medium sized companies, Health care organizations etc...