Enterprise Risk Management Software: Lipstick on a Pig?
Steven Minsky | May 25, 2006
- Root Cause: A framework that gets to the cause of issues makes follow-up straight forward and logical.
- Performance Management: This makes it easy to help line managers achieve process improvements to reduce costs, bottlenecks, and unnecessary risk translates into their embracing risk management.
- Business Process Driven: Selecting the most relevant 30 to 50 key risk indicators for each core business process from thousands of possibilities.
- ERM Reports: Cross Functional Risk: Features to deliver a portfolio view with interactive dashboards to drill down or cut across silos to identify dependencies between risks.
- Risk Mitigation: Go beyond financial controls to also quantify the effect of controls on business goal achievement while maintaining accountability throughout the process.
- Risk Tolerance: Embedding risk management processes within the existing corporate culture from enterprise-wide board room strategy to tactical planning and analysis.
- Risk Maturity Model: Enable the risk management department itself to accelerate adoption of best practices, to set program objectives and measures and to manage ERM program activities. With this criteria you can evaluate true Enterprise Risk Management Software capabilities versus GRC vendors claiming to do enterprise risk management.

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