Proactive company protection
with "R":
Risk management

Digital Risk Management Software
for a higher Safety

Global markets and digital technologies lead to rising risks and increasing regulations around the globe. The measures to protect against risks are thus ever more demanding. To ensure the survival of your company, setting up a risk management is inevitable. A professional risk management software fosters transparency about the current risk situation in your company and the early detection of risks.

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Risks lurk everywhere – there's no safer bet than safe risk management

Companies are subject to a variety of risks, depending on their business and size. In addition to economic risks, like the loss of important regular customers or the market penetration of new competitors, and technical risks, in the form of malfunctions in software and hardware, legal risks in particular by unknown violations of the law can result in expensive claims for damages. Not only investors, banks and the management level have a strategic interest in full risk management during the audit. The legislature in particular demands comprehensive risk management and is tightening its requirements by increasing international and national regulations. Basel II, KonTraG, MaRisk and the GDPR represent only an extract of the current legal situation. Companies are in danger of suffocating on the multitude of legal requirements for risk management.

The situation is further aggravated by the fact that today's risks are characterized by their complexity, interconnectivity and fast-moving nature. Relevant information is not always available, making it difficult to analyze potential risks. As a result, there is often a lack of transparency about the current risk situation and no system for possible crisis situations, responsibilities are not clearly assigned, control mechanisms are not defined and risk-relevant information is not communicated across departments. Hence, risks are identified too late and countermeasures are not initiated in time. The result: liquidity bottlenecks, poor audits and loss of reputation for your business.

Turbulences ahead - know your risks to be well prepared

The threat of risks is not only increasing because of internal factors such as breaches of the law due to a lack of control bodies or failed audits, but also due to external factors such as the current economic and political situation, increasing competitive intensity and changes in consumer behavior that are difficult to predict. Against this background, it is important to consider the unthinkable and evaluate possible crisis situations at an early stage. Further information must be obtained and detailed risk analyses and risk assessments carried out. In other words: Under which circumstances can which dangers occur and what are possibly problematic consequences for your company?

At the same time, a system with appropriate countermeasures must be designed. Who is informed when and how, the establishment of crisis centers, the definition of responsibilities in case of an emergency - all these factors can be planned calmly and carefully in advance of critical situations and, in the best case, digitized in software. Responding to a crisis situation with measures already worked out is active corporate protection with an "R": risk management.

But how do I as a risk manager establish secure risk management in my organization? For effective corporate protection, risks must be identified, evaluated and documented at an early stage. A software solution simplifies company-wide risk management and offers the opportunity to digitalize the risk management process in a central tool and to present it transparently. In the best case, the software supports not only risk managers but also those responsible for control or compliance in their operative activities. With an integrated risk management tool, you can manage your governance, risk and compliance processes safely and efficiently.

Protect your company with the risk management software BIC GRC

Our risk management tool BIC GRC provides comprehensive support in all steps of risk management and in meeting important regulatory guidelines and requirements. Avoid consolidating endless Excel sheets, instead rely on automated governance, risk and compliance management. Use predefined forms to quickly, uniformly, and centrally capture and assess your risks. The risk catalog shows you all risks at a glance, including risk category, probability of occurrence, and potential damage. Forms for control registration and implementation ensure effective action management and increased protection against risks.

With our risk management software BIC GRC the e-mail chaos in your company belongs to the past. Thanks to automated review and approval workflows, tests of design and effectiveness are intelligently controlled. You receive automatic notifications and information about where and how you need to take action. Predefined processes and structures are thus consistently adhered to and responsibilities are clearly defined in the system. For you, this means: the implementation of an effective control system as well as improved, cross-departmental collaboration to avoid redundancies and shorten processing times.

With our risk management software, you implement active corporate protection that provides you with optimal defense against potential risks. You too can opt for our innovative BIC GRC software and benefit from the advantages of digitalized governance, risk and compliance management.

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