Benefits for Senior Executives

We've written this benefits section to help you. We want you to be clear from the outset, that these are tangible benefits that are available to your organisation. Risk Network is a proven risk management software solution. If you are not experiencing these benefits from your existing risk management approach, then you might want to ask why, and consider working with Epiphany. Risk Network offers you the following:

It's the right solution for you and your organisation

With the legal and regulatory requirements in place, organisational leaders need a proven risk management solution. That solution should empower the organisation, not distract it from its core purpose. On a more personal note, most leaders prefer clear, concise reporting, void of unnecessary complexity. On all of these points, Risk Network delivers. The software is very easy to use and embed within your organisation. Its methodology has been proven on client sites for more than 6 years (both public and private sector). Risk Network places your risk management obligations in very safe hands.

It improves organisational performance

Implementing Risk Network can increase the performance of your organisation. This becomes visible from the outset, by cascading your strategic objectives down through the organisation, driving up their awareness amongst your personnel. Child objectives can then be created at each lower level within the organisation, tied to your key strategic aims, strategically aligning all activities. Risks are overlaid onto this objectives framework. The net result is a faster, more focused, strategically aligned organisation with sharper management oversight, highly robust risk management, and a full performance audit trail. Enterprise Risk Management (ERM) promises a lot of benefits; Risk Network delivers them.

Compliance and regulatory requirements

Many organisations carry a legal requirement to demonstrate that they are managing risk in a controlled manner. Public listed companies are subject to the Combined Code guidance (including Turnbull 2005) issued by Financial Reporting Council in respect of corporate governance and risk management. To adequately address these requirements and best practice guidelines, organisations need to demonstrate a unified, consistent and robust programme of risk management. Risk Network is designed to ensure such a programme can be developed and maintained. It enables robust risk management by unifying risk organisation-wide. Risk Network standardises the day-to-day management of risk across an organisation, no matter what its size, and it delivers rigorous analysis and reporting to give the assurance that the cycle of risk management is healthy and robust. Risk Network is a professional risk management software solution for organisations that need to meet compliance and regulatory requirements, and want to demonstrate they have taken all reasonable steps to optimise the management of risk across their organisations.

It typically costs less than your existing approach

If your organisation is currently using Microsoft Excel or a paper-based system as the backbone of your risk management activities, then this probably presents your organisation with a lot of challenges. These approaches can be costly, time consuming and inefficient, not to mention limiting. A paper, or Microsoft Excel based system is unlikely to be able to offer the same degree of reporting, permissions, and accessibility that Risk Network offers. It almost certainly won't be able to unify the organisation on to a single stable risk management framework that can respond to risks in real time. You're also out on a limb when developing your own approach rather than using a tried and trusted one. The simple truth is organisations that are serious about risk management need a proven risk management solution. The cost of Risk Network is typically far less than implementing your own bespoke solution in Excel, so why take the risk and reinvent the wheel? Risk Network is the UK's number 1 risk management software for a reason.

Realise greater oversight

With Risk Network, you bring together all of your organisation's objectives and risks onto a single unified framework. This means you can look at your key strategic objectives and see exactly how each is tracking against realisation, and then, by simply clicking on it, view all of its child objectives at lower levels within your organisation and their status. Risk Network delivers an impressive oversight capability and gives you greater control over managing and leading your organisation.

Simplicity

You can see that Risk Network is a very powerful risk management software solution. However, if all you want is the top line data, then it will provide that to you in the form of fully customised reports and a simple dashboard. Risk Network has a robust, inbuilt sign off process that ensures effective risk management takes place. Risk Network takes away the complexity and makes risk management work.

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