Deciding on a Risk Management Solution

A risk management solution is normally an online program designed to aid the process of creating, assessing and tracking risks inside an organization. It is also used to streamline conformity with various standards and polices including INTERNATIONALE ORGANISATION FÜR STANDARDISIERUNG 27001 and GDPR. Some of these solutions may even link dangers to excuse controls which helps to make simpler audit confirming.

While there are numerous different options with regards to choosing a risk management solution, the main factor that the organisation currently has an methodology and strategy for handling risk in place before making any decisions on certain software tools. This will help to ensure that the tool you select is contrasting and fits in together with your existing processes.

The best tools provide a soft, user-friendly experience around all equipment. They should also provide a range of features that allow users to create and manage risk registers, track becomes them after some time, and give priority rankings. They should also provide integrated work flow to help in collaboration between teams and external stakeholders.

One such choice is Solventar, a cloud-based risk management option that can identify and prioritize concerns, conduct risk analysis and audits, and turn risks in opportunities. This company has more than 100 clients including Toyota informal meetings and Johnson & Johnson.

Signifyd is another vendor that delivers a suite of tools to handle risk and fraud. The software program primarily suits the online store industry and promises to shield revenue, eliminate risky transactions, and boost secureness by monitoring risks in real-time. This consists of AML/KYC/CDP, deal fraud avoidance, and watchlist screening. This company has office buildings in the US as well as the Czech Republic and was recently backed by Rockaway Capital, Springtide Ventures and EASME.