Forward thinking risk management professionals are moving away from outdated solutions, opting for a structured approach for managing risk, and enhancing efficiency
Streamline risk management throughout your organization, eliminate data silos, improve collaboration, implement strategies to mitigate risks, and make informed strategic decisions regarding risks
Set up a centralized risk register and capture risks from various sources and departments in a single location. Establish categories to classify different types of risks and assign risk owners. The risk register serves as a repository for recording risks, ensuring that no risks are overlooked or missed.
Conduct risk workshops using VComply’s Risk Workshop feature to bring together key stakeholders to discuss risks, assess their impact and likelihood, and develop mitigation strategies collaboratively. Leverage the collective knowledge and expertise of participants to manage risk effectively.
Streamline and automate risk assessments–plan, schedule, manage, and perform inherent and residual risk assessments–easily with VComply. Define risk treatment plans to accept, avoid, transfer, or optimize risk, assign control to specific individuals or teams, along with deadlines and priorities.
Foster a risk-aware culture by promoting communication and collaboration. Easily scale risk management efforts across various departments or geographical locations. Connect with your team on risk updates with the built-in chat feature, conduct risk workshops and share evidence for resolution strategies.
“VComply is the ideal repository for compliance and regulatory requirements. It facilitates the integration of risk and compliance in a very intuitive way”
Gain a 360-degree view of risk and trends through interactive executive dashboards and reports. The dashboards pull insights from multiple data points, visualize risk exposure patterns through heatmaps, highlight risks that currently lack adequate controls and help respond faster to emerging risks.
Stay informed with VComply’s notifications and alerts, address risks in a timely manner. Monitor the progress of risk management activities, assess the effectiveness of mitigation measures, and make better decision-making.
Recommend action plans to modify controls or define new controls as part of the issue remediation process. Link controls to risks, upload and review evidence, monitor the status of the implemented actions and track them to closure.
VComply offers real-time transparency into risk data enabling organizations to closely monitor risks, understand root cause and make informed decisions. The risk reports offer a comprehensive view of total risk exposure by departments, while the risk heatmap visually represents risk exposure patterns.
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