Meet Your Challenges Head On
The energy and utility industry is home to a unique set of risks. To protect their employees, investors, and environment, energy corporations must practice effective risk management by identifying and mitigating operational risks, meeting various compliance regulations, navigating market fluctuations, and so much more. With LogicManager’s powerful and flexible energy risk management software, you’ll be able to stay on top of these risks. Our solutions are designed to meet the needs of your dynamic industry.
What Is GRC Software For Energy and Utility Companies?
Our governance, risk and compliance (GRC) software offers a complete matrix of solutions to enhance your company’s risk management efforts.
Governance includes all the practices your business implements when making decisions. Poor governance is often connected to risk management failures. GRC software allows you to create and sustain good governance.
Risk management evaluates the likelihood of a bad outcome. If you do X, what are the possible negative effects? Risk management should be a strategic process, and GRC software helps you gather and apply critical insight.
To comply with all relevant guidelines and rules, your organization must fully understand its responsibilities. LogicManager’s GRC software helps you stay ahead of the curve while perfecting your company’s risk management. The software is robust and cutting-edge while being user-friendly.
How Can GRC Software for Energy Help You?
We’ve created an energy risk management software that ensures your risk program is able to track root cause risks and align with established best practices.
Identify and prioritize your most critical operational and market risks with standardized risk assessments.
Create, approve, and maintain a register of key organizational policies and procedures that help mitigate risks, meet compliance requirements, and drive organizational strategic planning.
Capitalize on areas of opportunity to mitigate common root-cause risks shared across lines of business.
Prepare for loss events of all magnitudes with our business continuity and disaster recovery software.
Maintain a safe work environment with our automated incident and issue management system.
Track all regulatory compliance requirements like OSHA, FERC, NERC, EPA and many more with our pre-built risk readiness library.
Free Download: Risk Assessment Template
Our free, downloadable template is ideal for utility companies and other businesses in the energy industry. If you’re ready to take the next step in risk management, the Excel template gives you the best practices for collecting actionable data. You can use that data to assess pre-defined risk categories. After you enter your data, the template produces a heatmap highlighting your most critical risks.
Frequently Asked QuestionsAbout Utility and Energy Risk Management
If you have questions about risk management for energy and utility companies, consider our answers to some of the most frequently asked questions.
After assessing potential operational and financial risks, a utility company or energy supplier can identify the most likely risks and evaluate your ability to address them. Risk management also encompasses using tools that respond to and mitigate risks. Finally, risk management involves creating a formal process for reporting risks and making mitigation plans.
Energy and utility companies face a wide range of risks, from financial to reputational. A utility company provides energy to customers and relies on them to make timely payments. A power cut or decrease in supply is an operational risk that can limit the services a company can offer. Common reputational risks include poor press or bad customer relationships.
Utility and energy companies benefit from GRC software with robust risk management features, such as a risk indicator report that evaluates the risks a company faces, the likelihood of their occurrence, and their impact on the organization.
Enterprise risk management (ERM) and GRC software allows utility and energy companies to develop solid risk management plans. LogicManager’s software minimizes pain points so you can focus on achieving your strategic and operational goals. The software includes a framework and methodology that accomplishes your governance activities as it reveals the connections between activities and the overarching impact on your company’s goals.
Experience a Customized Energy Risk Management Solution
We’ve built our energy and utility risk management platform with you in mind. Check out some of the pre-built, industry-specific content that comes with our software. We have everything you need to make your risk management in the energy industry a painless process.
Transform How You Think About Risk
LogicManager’s platform is designed to alleviate the pain points in your company’s risk management processes, so you can focus on aligning and achieving operational and strategic goals across your organization.
LogicManager’s flexible tools and expert advisory services provide the risk-based framework and methodology you need to accomplish all of your risk assessment and governance activities while revealing connections between those activities and the goals they impact.
“I want to be able to see down the road. I want to be able to protect the company and ultimately our customers and our share base, and make sure that we’re protected. That’s what LogicManager has helped us address. This is getting us to a point where we can proactively manage risk and avoid it.”
Brian Tessier, IT and Professional Services Category Manager ׀ DentaQuest
Some of Our Energy and Utility Customers