Governance, Risk & Compliance
With Governance, Risk & Compliance, the central spheres of action of successful corporate management are integrated into the evidanza³ management and controlling platform. evidanza provides modern corporate executives with facilities to monitor and control Governance, Risk & Compliance in a system environment.
In these economically turbulent times, the integration of topics like securing operations, risk management and compliance with legal requirements in all business transactions is of central importance.
The term Governance refers to transparent management through pre-defined management measures. Senior management defines company goals, determines the method of implementation and plans for the required resources. An effective organisation considers organisational change based on internal and external influencing factors and dynamically adjusts to changing circumstances. Governance provides comprehensive support for optimised and standardised communication using a variety of communication channels.
The systematic identification and evaluation of risks as well as purposeful management and risk controlling have become indispensable in modern corporate management. For continuous business success, external and internal risks must be recognised early and assessed correctly and appropriate measures must be introduced. An essential aspect of successful corporate management is compliance with legal requirements, binding regulations and internal standards. Compliance is concerned with the fulfilment of internal and external as well as legal norms and requirements affecting a company and its information processes. The establishment of an accounting-reated internal control system (ICS) covering the organisational and technical processes is of central importance. By using measures and control mechanisms, ICS aims at ensuring the profitability of business processes, asset protection and the regulation of processes. Operational and strategic risks are verified and infringements of laws and company policies are identified.
BIS.Risk
With the BIS.Risk module, evidanza makes systematic and process-supported risk identification and evaluation available. The comprehensive functions of BIS.Risk fulfil not only the legal criteria for a risk management system but also the commercial requirements such as:
- Increased planning certainty
- Detecting opportunities, in the sense of possible positive deviations
- Determining the optimum required equity capital and insurance protection depending on the individual risk situation
BIS.Risk makes the following functions available:
- Risk identification / qualification
- Risk controlling (monitoring cycle, operation monitoring etc.)
- Definition of early warning indicators
- Qualitative and quantitative risk assessment (multi-period)
- Risk aggregation and simulation
- Definition of risk measure controlling
- Role-based risk organisation
- Integration of risk management and planning