Enterprise Risk Management App
Today’s dynamic business landscape is replete with a multitude of internal and external risks, making risk mitigation a key element in propelling business growth. Enterprises need simple and effective ways to detect, evaluate, and mitigate risks, while ensuring that risk management programs are pervasive across the organization.
The MetricStream Enterprise Risk Management App provides a structured and systematic approach to manage risks across the organization. By implementing uniform risk assessment methodologies and standards, the app provides an accurate understanding of risks across the organization and clear visibility into the top risks. Multi-dimensional risk assessments based on several qualitative and quantitative parameters can be performed to establish the organization’s risk profile. Real-time insights into risk management programs are offered through powerful analytics and reporting capabilities, dashboards, and charts.Download Datasheet
Enabling High Performers
Responsive and personalized interface designed for risk assessors and managers
Highly conﬁgurable to meet your specific risk and control assessment requirements
Mobile ready, enabling assessments anywhere, anytime
Real-time risk intelligence and insights for better decisions
Fast, lean, ready for the future
Identify and define business objectives, processes, products, risks, and controls, and establish and maintain relationships across these. Document and manage a wide array of enterprise risks and associated details such as risk description, category, hierarchy, and ownership using a centralized library and risk framework.
Access advanced tools for planning, scheduling, and performing risk assessments, and once the assessments are performed, route results for review and approval. Perform assessments easily with a simple and intuitive user interface.
Perform risk assessments with support for both top-down and bottom-up approaches. Manage simple risk assessments by rating a risk, or an advanced assessment using multiple factors and advanced risk scoring to meet variations in the risk assessment methodology across business units, regions, and products, and roll up to an assessed organization, objective, product, or process. Define the logic for computing inherent and residual risk scores and analyze them through heat maps.
Define controls as per industry standard frameworks like COSO and COBIT, design control test plans and assessments, and rate their operational and design effectiveness leveraging questionnaires and surveys as required. Understand the control evaluation status and analyze the results using interactive dashboards.
Measure and track key indicators for risks (KRIs), controls (KCIs), and key performance objectives (KPIs). Set thresholds to identify potential threats, and mitigate them in advance. Send alerts and notifications on any breach to relevant personnel for faster decision making.
Record findings stemming from risk assessments and controls tests. Recommend action plans such as modifying controls or defining new controls as part of the issue remediation process. Monitor the status of implemented actions at every stage and track them to closure.
Access real-time information on risk management programs across your organization through role-based landing pages with dashboards. Dynamic heat maps help view risks by organization, product, or process or by risk category. Gain a 360º view of your program through advanced visualization of key metrics and personalize your home page based on your specific analysis needs.
- Enhance risk management communication and enable consistency in risk taxonomy with a centralized risk and control repository
- Align with industry standard frameworks, methodologies, and templates for risk assessments with effective workflows
- Perform quantitative and qualitative risk assessments and configure and aggregate the risk scores based on your business needs
- Leverage advanced analytics, business intelligence, and key metrics dashboards for informed decision making
- Track and close findings effectively with integrated action planning
A single, real-time view of risk data is critical to supporting sound and strategic decision-making.
MetricStream ERM Software Solution
Faced with multiple internal and external risks, as well as regulatory pressures, companies are striving to build a robust ERM program. Strategic decisions are driven largely by risk, which makes it all the more important to strengthen risk visibility and control.
The MetricStream ERM Solution captures a range of enterprise risks in a unified system. The solution provides comprehensive tools to assess inherent and residual risks based on various qualitative and quantitative factors. It also supports risk ranking using a configurable scoring logic, tracks risk metrics and losses, and enables analyses of various risk scenarios in a consistent, efficient manner.