The professional risk management software for analyses, evaluation and controlling of risks

Steps of a modern risk management software

OMNITRACKER Risk Management is a software tool which enables you to deal with risks in a uniformly structured and professional manner throughout your whole company. You will systematically perform the following steps:

• Identification & listing of all risks, regardless of their source
• Categorization of individual risks according to individually definable categories
• Evaluation of all collected risks according to type, probability of occurrence and impact. These evaluations result in a prioritization.
• Definition of risk strategies (avoid, reduce, transfer, accept)
• Initiate actions against identified risks with the aim of minimizing the negative effects and their probability of occurrence
• Monitoring, reporting & documentation of all risks according to pre-defined criteria This recurring process is supposed to make a company more resistant to unexpected events, especially in form of risks. A modern, intelligent risk management focuses on avoiding individual risks, which results in the primary goal of keeping the sum of all potential risks as low as possible. The risk management measures are closely linked to ISO 31000 in terms of content. ISO 31000 provides normative guidelines on how organizations can implement professional risk management. The internationally active organization OECD (Organisation for Economic Cooperation and Development) describes ISO 31000 as the de facto world standard for risk management. Since risks are often linked to IT structures of companies, the latest version of the established ITIL® framework (ITIL® 4) includes the practice of "risk management".

Benefits

In addition to the primary goal of avoiding and mitigating risks, you benefit from the following direct and indirect advantages:

• You keep the effects (e.g. loss of time, money and image) of negative events as low as possible. In this way, you secure the long-term existence of your company and increase its value.
• You create more transparency at all levels (process, project, company) because you deal intensively with your process structures. You recognize potential improvements (opportunities) of your business processes, since you can systematically evaluate and optimize your workflows.
• You benefit from a better planning reliability and avoid resource bottlenecks. This leads to a long-term increase in profits.
• In some industries (e.g. banks and insurance companies), risk management software helps you to comply with industry-specific legal regulations. This includes the documentation of risk analysis, strategy and the implementation of predefined measures. Minimize the effects of risks on your company and rely on a risk management software that can be individually adapted to your workflows. Our respective experts will be happy to support you with customizing services that are perfectly suited to your company and industry.

Functions & features

With OMNITRACKER Risk Management you collect risks, evaluate risks and cover all workflow-based processes company-wide uniformly. You benefit from the following functions:

• Structured evaluation of risks with freely definable risk categories
• Definition of measures
• Automatic monitoring of schedules for measures
• Automation of workflows in risk management using BPMN 2.0
• Easy-to-understand and expandable risk catalog
• Creating of a documentation (often required by law) with a history that cannot be manipulated
• Adaptable rights and roles concept with clear responsibilities for each phase within the risk management process
• Extensive customizing possible at all levels
• Support of the risk management requirements of ISO 31000 and ITIL®4