Taxonomy is the practice and science of classification. With an ad hoc approach to risk management, you can’t compare different types of risks across the enterprise. Without taxonomy, collecting risk information can be subjective, incomplete or flawed. Taxonomy management is critical if you care about data quality and trustworthy results.
LogicERM taxonomy management lets you name and organize all risk management elements into manageable groups that show similar characteristics as well as dependencies. This patent-pending innovation provides structure to your data to easily link and aggregate information across multiple functional disciplines, business lines, business processes and risk types. And it does all that while providing a common a root cause perspective to help managers address the problem, not the symptom.
- Link potential losses to their root cause
- Link corporate goals and key risk indicators to any process
- Classify risks and roll-up reporting to uncover dependencies
- Create a common framework for all risks across the enterprise
- Cross-reference risks by standards including COSO, COBIT, RIMS RMM, S&P, ISO and more
Download a whitepaper on how taxonomy management builds a foundation for enterprise risk management.
Testimonials
"LogicERM is vital to our efforts, enabling a few employees to thoroughly and quickly assess business continuity and security issues within business processes."
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