Category: Risk Management Software

Why Tech Skills are now a Necessity for Compliance Risk Managers

Compliance departments are usually staffed with lawyers and accountants. Lawyers because of their expertise in the legal domain, which is a necessity for interpreting and enforcing compliance. Accountants because their technical expertise in the matters of finance and record-keeping were necessary for compliance work. However, over the past few years complia [...]

GRC Based Risk Mitigation Strategies

There are many different approaches and strategies which can be undertaken to mitigate organizational risks. There are four basic types of risk mitigation strategies, under which there are multiple methods and processes. These strategies are avoidance, transference, control, and acceptance. Since the GRC model includes managing risks, GRC helps all four cat [...]

Three Unexpected Business Benefits of ERM Software

The direct benefits of managing enterprise risk through a software are already established. ERM implementations cut down reporting time, improve risk coverage and prediction, provide insights and data, and improve the overall risk management capabilities of the organization. There are, however, certain benefits which may not be so clear. These are benefits [...]

Managing Risks – Both Known and Unknown

No professional needs to be told the importance of risk management – any business will have risks that need being managed. Businesses in the financial industry are concerned about risk the most, along with other businesses in similarly dynamic and highly regulated industries. When it comes to managing risks the leadership of any organization needs to worry [...]

Technology Based Perception of Enterprise Risk Management

The way we perceive things and the way we talk about them affects how we treat them. There is an Australian Aboriginal language called Guugu Yimithirr which has no words for left or right directions. They don’t even have the concept in their language. Instead, everything is based on north, south, east, and west, meaning instead of using directions dependin [...]