DEVELOP A ROBUST RISK AND CONTROL STRATEGY
Effectively manage risks on a task-by-task basis and put appropriate controls in place.
MITIGATE YOUR BUSINESS RISKS
Managing risks has never been more important for business leaders. According to industry reports, corporate risk management has moved up the corporate agenda and is now considered a key to competitive advantage. From compliance and financial risks, security and operational risks to cyber risks, organisations need a robust risk management system to manage different types of risks that are evolving at a rapid pace. With PRIME BPM, identify, analyse and navigate enterprise-wide risks effectively and ensure appropriate controls are in place. Easily clarify roles and responsibilities and ensure audit trail to address any gaps and improve the risk posture.
ACHIEVE RISK MANAGEMENT WITH PRIME BPM
Identify Gaps with Detailed Process Maps
With PRIME BPM, create process maps in minutes for your ‘as-is’ processes. Use these detailed process maps to create a robust risk management plan. Identify risks on a task-by-task basis and put appropriate controls in place. Reduce the risk of fraud, data loss or error by easily setting user restrictions and controlling who can access, view and edit important documents, financial systems and information. Powerful user-access management and authentication control features in PRIME BPM ensure that the risk to the integrity of important documents is effectively averted.
Define Roles and Structures to Manage Access
With the inbuilt RACI matrix, clearly articulate who is Responsible (R) and Accountable (A) for a particular task or process and who must be Consulted (C) and must stay informed (I) about the process. This streamlined process ensures that information goes through the right channel and safeguards the integrity of important documents, systems and information from unauthorised access or changes.
Impact Analysis for Risk Mitigation
Using PRIME BPM’s inbuilt simulation engine, forecast and neutralise possible risks of any process or technology change/ improvements before the actual implementation. Easily analyse who or what will be impacted with the implementation, right from people, activities or business documents. With this prior knowledge, identify and remove risks that may cause interruptions not only across a particular department but even avoid any cascading company-wide impact.
Ensure Traceability and Audit Control
Protect the integrity of important documents, systems and financial data by tracking who made the changes, when the changes were made, what changes were made. With an audit trail, ensure better control and traceability and reduce the risk of fraud and errors.