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How to Efficiently Manage Operational Risk?

Posted by: Ed Sattar | February 17, 2017

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Asset intensive, high risk, heavily regulated industries are undergoing a sea of changing regulations. They face an environment marked by growing consolidation, rising customer expectations, increasing regulatory requirements, proliferating financial engineering, uprising technological innovation and mounting competition. This has increased the probability of failure or mistakes from the operations point of view – resulting in an increased focus on managing operational risks.

Operational risk losses have often been in the billions of dollars in recent years. A single organization faces multiple regulations and standards and these regulations impact multiple sites and various compliance departments and gets extremely complex, increasing the risk factor.

Organizations operating with disparate infrastructure in isolated locations require a solution that allows them to link and foster communication across all facilities and assets within the business in real time.

Predict360’s Risk and Compliance Management Software helps organizations navigate their way through a changing regulatory environment, manage risks, improve performance and increase operational excellence, sustainability and margins. Our regulatory risk and compliance management solutions provide guidance on the following:

Staying ahead and managing risk. While risk continues to significantly affect the organizations landscape, staying ahead of the competition is also becoming a dominant factor. We work with organizations to understand their business risks and develop strategies to manage and leverage on them.

Our regulatory risk and compliance management software enables organizations to better manage risks, by tying the activities of risk mitigation back to the standards, regulations and business requirements that drive them.

Our key experts understand business operations and processes, and use their expertise to help clients define and develop their strategies, and risk management and mitigation techniques.

Monitoring regulatory changes. Organizations report that the top driver for regulatory risks are regulatory pressures from specific sectors. Global multi-sectoral surveys show that regulatory and fiscal frameworks are uncertain in many countries.

Our regulatory risk and compliance management solutions are focused on helping our clients meet their regulatory requirements in regions where they specifically do business.

Reducing costs, optimizing business processes. Operation and compliance costs have increased significantly over the past decade.  If not managed properly, the increasingly complex operations will further increase costs and reduce profitability.

Our regulatory risk and compliance management solutions help companies stay competitive by reducing costs and optimizing business processes.

About the Company

360factors, Inc. helps companies improve business performance by reducing risk and ensuring compliance. Predict360, its flagship software product, vertically integrates regulations and requirements, policies and procedures, risks and controls, audit and inspections, safety management systems and on-line training and qualifications, in a single cloud-based platform.

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