Risk Management Software (ERM)

The original Enterprise Risk Management Software Solution

A Total Solution From Only £400

So, what is Risk Management Software?
Risk management software is a software solution designed to enable companies to improve the risk management process. This means the identification of risks and threats, how they will impact the business and how you can reduce and manage the threat. Many of todays ISO regulations that resolve around compliance, require a risk management process to be in place. Whilst the use of office tools such as spreadsheets seem to be a popular choice. The reality is they are ineffective because they are inefficient and impractical. They require far too much maintenance and management to have any hope of working. Risk management software is designed to remove this problem and give you a framework you can easily manage.

Most solutions are sold by companies selling consultancy services. The software is a hanger for the firm to sell you training, support and their expertise. These companies often outsource the development of the software and concentrate of the aesthetics, making it look appealing, lots of nice pictures and amazing graphs. Bells and Whistles. Such solutions are often badly written, very expensive, out of date and almost impossible to embed without the firm spending a lot of resources. Both time and money. Symbiant is different, we are the software authors, we develop the solution based on feedback from our extensive client base, we do not charge from support, training or our expertise, our solution is very affordable, easy to use, feature rich and designed to embed very quickly.

If you need to limit, reduce or lower the risk and security lapses, which organizations are exposed to in their day to day activities and for general compliance management. If you do risk assessments and need to collect risk data even if it is for governance risk and compliance in fact any business process that requires a risk-based approach and you need to assess business continuity, then a solution like Symbiant Enterprise Risk Management Modules is exactly what you need to be considering.

The software works by way of identifying potential risks of an asset, wrong decisions, security breaches etc., within the IT system and alerting an Organization on where the risk lies. Such Organization can then control the risk. They also warns Organizations of impending IT breakdown which can seriously affect its operations.

The type of risks that the software is designed to guard against are:

* Interest rate Risk
* Credit Risk
* Uncertainties in Financial Market
* Attacks for Organization’s Adversaries or Enemies e.g. DDOS attack.
* Legal Liabilities
* Product Failure
* Data Breach Risk etc.

The regulatory agencies in some countries (Central Banks, Deposit Insurance Corporations) make it mandatory for Bank and non-Bank Financial institutions to have risk management software installed.
Basel II Accord is an International Regulation put forward by International Committee on Bank Supervision to make sure that Financial Institutions that carries Riskier Assets provide enough Capital against that risk than those with safer portfolio. It also stipulates that Financial Institutions should publish a statement of risky investment and risk management practices.

Risk management software like Calipso, Entropy, Incident management and Emex are very rich in risk management and Compliance. They are preferred by some giants that integrated financial trading system in their platform
Below are some risk management software firms and their products:

* BSI
“Entropy” is a software developed by software giant, BSI. It is preferred by users who are interested in the reduction in cost and effort needed to manage risk. It has a standard based approach to businesses system management. The software has necessary tools put in place to promote compliance and overall performance.

* ENABLON
“Incident Management” is another risk management software, developed by Enablon. It is integrated with the following features: compliance management, incident management, greater operational risk control etc.

* EMEX
“EMEX EHS Solution” is a software developed by EMEX, another software risk management firm. It is designed to create a web based solution in the area of efficiencies and compliance and ensure they are being effectively managed.

* FAST TRACK
“Fast Track” risk management software is owned by a firm called FAST TRACK. It is known to be very effective in the area of regulatory compliance in mission critical environment e.g.

*SYMBIANT “low cost award winning enterprise risk management software provides all the components required for a total ERM risk management solution. Ideal for ISO9001, ISO14001, ISO27001, ISO 31000 etc. Compliance it provides all the tools you need for a total risk solution. Used by some of the world’s biggest companies and financial institutions, Symbiant’s Risk Suite has everything from identification to mitigation and gives you everything you need to fully manage the risk process. The Symbiant Risk Management Software is a one of the World’s leading risk solutions and the only risk solution to have been endorsed by the Institute of Chartered Accountants in England and Wales. It has cutting edge features and has always led the way in the risk management arena. Symbiant was the first solution to facilitate collaboration and provide tools for non risk specialists. The solution still has many unique functions which are leading the way in how companies should perform the risk management tasks.”

Risk Management Software Overview

Overview

Risk Management Solution

Symbiant is cost effective, intuitive and simple to use software solution that has all the features and tools you will need to embed risk management across the business (ERM, enterprise risk management). It is also the perfect solution for anyone who wants to conform to standards such as ISO 31000, ISO 27001, ISO 27005, ISO 14000, ISO 9001, Pillar 2 and general compliance and regulation such as GDPR.

Symbiant Covers the 5 steps in the risk management process

1. Risk assessment methodology. You can define rules on how you are going to score and perform the risk assessment and treatment, allowing the whole organization to have a uniformed approach.

2. Risk assessment implementation. The virtual risk workshops let you discover which potential problems could happen to you – you can list your assets, threats and vulnerabilities related to those assets and assess the impact and likelihood for each combination of assets/threats/vulnerabilities, based on your rules the software will calculate the level of risk for each threat.

3. Risk treatment implementation. Using the treatment phase of the risk workshops you can suggest, discuss, ballot and finally adopt treatment plans for the unacceptable risks.

4. Statement of Applicability. Using the reports, workshop activity and the control module you can create a security profile of your company and list all the controls you have implemented, why you have implemented them, and how.

5. Risk Treatment Plan. From the final phase or a risk workshops you can create action plans and assign ownership of the action with an action by date and then monitor this action to implementation.

Customise

Customise layouts and forms so the system provides what you need, when you need it. You can even convert it to another language.

All the tools you need

Symbiant has features you need, ready for when you need them. It provides the perfect vehicle for implementing the ISO 31000 framework or the requirements set out in Pillar 2. It provides all the tools required to help you comply with ISO 27001 such as "assess and treat risks" and company-wide participation. It has everything you need to apply the standards for ISO 27005. The questionnaires will also help you comply with regulations such as GDPR. Modules include: Incident reporting, workshops, control management and assessment, Risk Indicators and easily managed Risk Registers.

Company-Wide Participation

Symbiant was the first solution to facilitate collaboration. The Risk Management modules help you to extend enterprise risk management across the business. Designed to be used by non-risk specialists it's Web Based, so all users need is a web browser, and it's provided as a fully managed SaaS solution, ready to use instantly on our secure cloud environment or if you prefer you can host it yourself on your own network.

Advanced Features

Accurate risk scoring. By linking controls to residual scores we give you Dynamic residual scoring. Risks can also have different scores to reflect the different types of impact. Set Risk Appetite at multiple levels. Test controls and monitor performance or environment with risk indicators.

Symbiant is way ahead of other providers. Our solution is developed on feedback by our clients, so it's the solution you want and can afford.

Reporting

Produce an array of professional Risk reports including registers and heat maps as well as details on risk actions and scoring history, in fact everything for stakeholders and the risk committee.

Risk Modules

Risk Map top 5

Risk Modules

A risk management tool is only as good as the risk data it can analyse and a complete risk management program needs to look at the whole organisation and provide data in real time. Symbiant provides the tools to collect all the required data from across the whole organisation and report in real time.

Risk Registers compile, manage and report on the company's risks.
Risk Workshops Organise and manage groups to collaborate on risk assessments including scores and treatment plans.
Multi Value Scoring Create multiple Impact x Likelihood scoring sets so you can evaluate different types of risk impact.
Controls Self Assessment Assess and test the controls to ensure they are working
Incident Reporting Users can report incidents, hits and near misses or even issues such as customer complaints.
Key Risk/Performance Indicators Record environmental factors that may affect risks and aggregate to an overall KRI.
Action Plans Give ownership of action plans with action by dates and let the automated email functions notify and remind users.

Total Risk Management Software Solution

Dynamic Risk Registers

Accurate Risk Scoring

Residual risk scores are based on controls being in place, if these controls are not working your assumptions are wrong and so are your risk registers.

To overcome this we invented dynamic residual scoring, meaning you link your controls to the impact or likelihood reduction, test your controls via the systems Assessment questionnaires and if any controls fail your registers will dynamically adjust to reflect the new position.

Risk Controls

What are your most valuable controls?

Linking controls to risks also allow you to see which are your most valuable controls and how much of a reduction they account.

Control Testing

Testing controls

The ability to manage and test controls is an important part of any risk management system.

Our easy to use assessment questionnaires allow you to schedule a set of questions that link to specific controls. If these controls are linked to risks they will also ensure your residual scoring is accurate.

Control Self Assessment

Risk Indicators

To compliment the assessment tools you can use KRI (Key Risk Indicator) questionnaires. These allows you to collect performance or other data that may cause stress on certain risk or controls giving you early warnings to potential issues or breaches.

Key Risk Indicators

Automated Emails

Automated email keep people notified

Simple to use wizards let you tailor your own email notifications and at what intervals or triggers they will be sent. Advanced features allow you to exclude types, divisions or users or send different emails based on matching criteria.

Reminders and Notifications ensure things get done.

Dashboards

Risk Dashboard

Drillable Risk Dashboards

Configurable risk dashboards give you instant pictorial reporting on the information you need. Click on the graphs to drill down.

You can also set a dashboard to appear when a user goes to a module so they are instantly aware of issues or how well they are performing.

Reporting

Reports to impress

A good risk management solution needs to produce professional Risk reports. With Symbiant you can do this with just a click of the mouse, the risk reports include heat maps and risk maps, in fact, everything for the risk committee and stakeholders.

Saves time and money

View examples

Overview Brochure Pricing Offers Example Reports

Free trial. 30 Day contracts.

Cancel or upgrade anytime.

All plans include a 30-day free trial

Modules

Risk Registers, Risk Workshops, Control Failure Simulations, Incident Reporting, Risk Indicators, Control Universe, Control Self Assessments, Action Tracking

What our customers say

We are very impressed with Symbiant. Its simplicity and ease of use aligned with its flexibility and extensive reporting capabilities make it a very useful tool.
The Institute of Chartered Accountants in England and Wales

Having implemented Symbiant into our global business a year ago it has provided the complete solution we required to manage our risk and internal audit functions. It’s a powerful tool, very user friendly and supported by a great team. It’s a product I would certainly recommend!
The Innovation Group Ltd

Got a question? View our FAQs or Contact us