Increase agility to react to change and identify emerging risks
Demonstrate clear accountability for risk assessments across the enterprise
Consolidate risk information in one central solution for the whole enterprise allowing an aggregated view of risks
Take a consistent approach to risk management to improve business decision making and prioritisation
Enterprise risk is any risk that has a strategic, financial or reputational impact to an organisation's capital and reduces the ability to meet its corporate objectives. Operational risks are a category within the enterprise risk but refer to risks that specifically disrupt a business process or processes, these can range from an environmental disaster to a quality failure or industrial action.
In order for an organisation to meet its objectives it needs to have clear visibility and understanding of all risks that may impact its operations or cause financial or reputational damage. To manage risk, an organisation may aim to reduce the likelihood of the risk occurring, decrease the potential impact of the risk, transfer, avoid or accept the risk.
A key challenge faced by many organisations with their enterprise and operational management is being able to react to change effectively. Risks are constantly changing, with new risks emerging and management needs to know when the level of risk exceeds appetite and requires action.
To achieve this a consolidated risk and control repository is needed to capture all the relevant data and the business processes or assets that would be impacted, together with aggregate risk views for business groupings and across the entire enterprise. Ensuring accountability for each risk and a standardised, consistent assessment approach are some of the many ways that STREAM ensures up to date and reliable risk data. This allows management to reliably prioritise and escalate risks according to their significance and understand which business operations or objectives may be impacted.
- Multiple configurable risk assessment schemes to meet varying requirements across different parts of the enterprise
- Ability to aggregate and compare risk against appetite across different parts of the enterprise
- Ability to easily see all information that could influence the assessment or acceptance of a risk, such as:
- Asset at risk and their business value
- Performance of controls
- Related incidents
- Open vulnerabilities
- Relevant threat intelligence
- Overdue actions
- Outstanding audit points.
- Manage a hierarchy of risk registers, providing easy visibility of risk status across the Enterprise, with drill-down for more detail and aggregate-up for management views
- Extensive dashboarding, graphical reporting, unlimited user-definable reports and a documented API for integration with business intelligence tools.
Contact us to discuss your requirements