How to Manage Risk Well?

In every business step, an organization takes and in every decision an organization makes, there are potential risks involved; risks that if not properly managed will surely have a business impact. Organizations can never eliminate risks but they can always reduce and manage them through an effective Risk Management Program.

An effective risk management program in place enables better quality decisions through risk mitigation to achieve organizational objectives.  However, the success of the Risk Management program not only depends on process and technology but also on the quality of the individuals who participate in the process, thus, it is also necessary to have the right people in the organization.

Effective Risk Management requires the application of best practices, standards, and technology. People, process and technology work hand in hand for effective risk management. Cloud-based platforms today offer a solution free of software licensing costs, infrastructure delegation, and time-management issues. They provide an overall lower cost for services and lower the stress levels for management.

Predict360, Enterprise Risk Management Software, enables organizations to identify, quantify, monitor, and manage risk. It accesses the environmental, financial, legal, reputational, and safety impact and likelihood of a risk at the business unit level. It combines software and content to deliver solutions with embedded best practices templates, access to compliance training programs, expert advice alerts and integration of business processes with regulatory notifications and industry alerts to address an organization’s risk exposure.  The fully-integrated ERM solution facilitates organizations to minimize risk and make strategic decisions.

About the company

360factors, Inc. helps companies improve business performance by reducing risk and ensuring compliance. Predict360, its flagship software product, vertically integrates regulations and requirements, policies and procedures, risks and controls, audit and inspections, safety management systems and on-line training and qualifications, in a single cloud-based platform.

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