It brings together all risk management related data - a reusable library of risks, controls and assessments, events such as losses and non-conformance, key risk indicators, issues and treatment plans - in a single comprehensive solution.
The solution serves as the foundation for a company's enterprise risk management efforts through its ability to unite and support different categories of risk - financial, security, compliance, planning - accomplishing with other risk family solutions as Financial Control Management, Operational Risk Management, IT Risk Management and General Compliance Management.
The following are some of the main features of SoftExpert ERM Suite:
- Context Definition - defines the scope (activity, process, function, project, product, service or asset) in terms of responsibilities and location well as its goal and objectives.
- Process Management - Provides a well-integrated platform for describing and modelling the business process that can be used for risk analysis.
- Asset/PDM Management - Maintains details of company assets/products used on risk management, covering inventory, maintenance, ownership, location, reservations, usage, downtime, verification, check-in/out status, and much more.
- Risk Identification - Facilitates risk identification through checklists application and unified risk repository.
- Risk Analysis - Powerful analysis toll that empowers the application of quantitative and qualitative methods, or a combination of these. Graphical visualisation of significant risks.
- Control Definition - Establishes and implements policies and procedures ensuring effectively risk responses.
- Control Self-Assessment - Keeps internal control effectiveness through periodical tests and questionnaires application.
- Treatment Plan - Fully integrated Project and Portfolio Management [PPM] Suite to select, implement and monitor risk responses without requiring third party tools or custom programming.
- Risk Monitoring - Ongoing management activities, automatically and manual, using summary lists, risk matrix, KRI and more.
- Event Management - Complete automated handling of events, non-conformance and corrective/preventive actions using worldwide renowned methods: PDCA for problem solving, and 5W2H for action planning.
- Business Intelligence - Delivers line-of-business reporting and helps business users identify department problems. BI capabilities provide managers with the ability to drill down on data and "slice and dice" from different perspectives, based on Online Analytical Processing (OLAP) technology.
The concepts and features offered by SoftExpert for Enterprise Risk Management meet all the requirements established by international standards and regulations, such as the new ISO 31000, ISO 27001, Sarbanes-Oxley (SOX), AS/NZS:4360, SEC Rules, NIST, PCAOB, Basel II, COSO, COBIT, and others.