Deciding on a Risk Management Solution

A risk management solution is normally an online program designed to help in the process of recording, assessing and tracking risks inside an organization. It can also be used to streamline conformity with various standards and legislation including INTERNATIONALE ORGANISATION FÜR STANDARDISIERUNG 27001 and GDPR. Many of these solutions may even link risks to mitigating controls which will helps to simplify audit revealing.

While there are numerous different options in terms of choosing a risk management solution, the main factor that the organisation currently has an methodology and methodology for controlling risk in place before you make any decisions on specific software tools. This will help ensure that the tool you decide on is complementary and fits in with your existing processes.

The best equipment provide a seamless, user-friendly knowledge around all equipment. They should present a range of features that allow users to create and manage risk registers, track becomes them after some time, and designate priority rankings. They should also have integrated workflows to facilitate collaboration between teams and external stakeholders.

One such choice is Resolver, a cloud-based risk management resolution that can identify and prioritize issues, conduct risk analysis and audits, and be risks into opportunities. The business has more than 100 clients including Toyota and Johnson & Johnson.

Signifyd is another vendor that provides a suite of tools to control risk and fraud. The application primarily caters to the ecommerce industry and promises to protect revenue, remove risky transactions, and boost reliability by monitoring risks in real-time. For instance AML/KYC/CDP, purchase fraud reduction, and watchlist screening. This company has offices in the US as well as the Czech Republic and was recently supported by Rockaway Capital, Springtide Ventures and EASME.

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