Time savings of up to 40 %
with BIC Enterprise Risk

The dashboard is the central gateway for all users. It provides a clear overview of all tasks, risks, measures, proof of effectiveness as well as individual responsibilities and those of others involved in the process. Users can filter, analyze and compare data with the help of interactive controls and based on their individual permissions. Individual risks or actions can be opened and edited directly in the ERM solution with a simple drill-down. 

The intuitive interface makes it easy to work with the risk management tool – even for users who are not particularly tech-savvy or are rarely involved in the process. With BIC, you profit from a straightforward risk management solution that significantly reduces the amount of time spent on processing risks and risk management processes in general across the enterprise. This acceleration stems from the capabilities for importing and exporting Excel spreadsheets, the automation of reoccurring tasks, easy batch processing and other functions. By effectively minimizing the work of the people involved, the software fosters the users acceptance for the risk management process. It also creates the opportunity to devote more time and resources to relevant business tasks instead of wasting them on administrating processes.

Once they are automatically classified, individual risks can be assessed either qualitatively or quantitatively using interactive heat maps. Quantitative assessments typically incorporate simulations, which utilize the risk aggregation to enable a well-rounded analysis of the total risk situation. Risks can also be categorized by frameworks such as COSO ERM. Comparisons can be made between a gross risk (one not treated) and net risk (after treatment). Target-actual comparisons are also available during the net risk assessment.

The functions of the ERM solution quickly reveal all risks within the company and provide flexible capabilities to assess them. Quantitative risk assessment and simulation are gaining more attention among risk managers due to legal requirements and are playing a stronger role in effective risk management and as the foundation for risk-driven enterprise management.

The workflow-driven process, automatic notifications and approval process in the ERM software BIC significantly increase the effectiveness and efficiency of your ERM processes. The collaborative functions provide an opportunity for colleagues and risk owners to exchange knowledge on risks, measures and other related issues directly in the system. They can discuss and clarify questions about assessments in the GRC software and even invite further users to join the discussion. Each person can access the information at a central location at the right place at any time. BIC Enterprise Risk also provides audit-proof archiving. This archiving ensures that all data is securely stored and can be easily used at a later time in dashboards or reports, for example, to compare individual risks over longer periods. Data can be archived manually or automatically at any given time.

Workflows and archiving maximize the efficiency of the ERM process, eliminate the risk of data losses, and enable comparisons of different time periods at the touch of a button – without the need for complex, manual comparisons of different types of data. This also significantly reduces the possibility for errors.

Profit from the comprehensive reporting capabilities and predefined management reports in BIC Enterprise Risk. With just a click, you automatically export individual risks to a PDF file containing a complete report on individual risks, their effects, respective actions, organizational units and risk catalogs. With the Monte Carlo simulation, there is always the possibility of mapping the entire risk management process including the risk analysis.

BIC provides information on demand at any time and a complete, dynamic overview of the entire ERM process in the dashboard. These reports shed insight on the current risk situation across the enterprise whenever needed. Both process contributors and executives can use this information as a foundation for strategic decisions.