Reduce business disruption though easy access to the actions and data needed to remediate and respond to an incident quickly and effectively
Reduce the risk of incidents resulting from non-compliances or unanticipated events, saving costs associated with incident response, direct losses and reputational damage
Refine your risk assessments on the basis of recorded events for improved risk management
Unforeseen incidents disrupt normal business operations and can have a long lasting reputational and financial impact to your organisation. The goal of incident management is to restore business operations as efficiently and effectively as possible, minimising cost to the business. Incident management involves the tracking, treating and resolving of incidents, while learning from actual events to inform the risk assessment process and helping to prevent re-occurrence.
Many organisations manage incidents independently from their broader risk management processes, perhaps using ticketing solutions or manual tools such as Excel. This makes it very difficult to correlate incidents with controls, risks and other events resulting in time being wasted on ineffective incident tracking rather than on remediating or preventing incidents. An risk management tool such as STREAM allows for integrated incident management across the whole business where each incident can be linked to multiple actions, findings, risks, controls and remediation plans which can be tracked and reported on. This integrated approach allows users to react quickly and effectively when events occur and have all the related information needed to prevent extended business disruption. Another common issue with spreadsheets is being able to assign ownership to specific incidents or actions, this can lead to oversight allowing an incident to escalate unnoticed and with no sufficient plan in place leading to more severe consequences. STREAM can assign incidents and actions to users which they can monitor on personalised dashboards and receive notifications and email reminders of any actions due.
- Log incidents and near misses, record their impact and root causes and link to risks, controls, events and actions
- Link incidents to findings and remediation plans which can be monitored and approved
- Report on incidents classifying by impact and urgency to prioritise incident management
- Raise, assign and track actions for remediation with notifications, workflow and email reminders
- Tailor the incident recording criteria to capture all the relevant data needed for successful remediation.
Contact us to discuss your requirements