Reduce costs and risks with BWise Risk Assessments
Which steps to take to reduce costs and risks?
Identifying your enterprise risks, operational risks or IT risks is the first step in any risk management effort. A crucial next step is to address the risk level, in order to find out which risks deserve attention, and which risks are less relevant. BWise Risk Assessments, an integrated component of the BWise Governance, Risk and Compliance (GRC) platform, allows you to:
- Identify new risks, and identify mitigating measures.
- Assess your risks, using configurable impact and likelihood scales (severity and frequency).
- Use different dimensions of risks, like Financial, Reputational, Legal, Safety, Health or Environmental.
- Assess inherent (gross) risk, residual (net) and target risk.
- Assess different risk scenario’s when conducting risk scenario analyses.
- Use qualitative input as well as quantitative input.
- Make use of advanced calculation capabilities including scenario analyses, calculating residual risk based on control performance, and more.
- Drive risk assessment workflows to ensure correct data gathering and management sign-off.
- Run configurable reports with drill-down heat maps, risk trends, top-N risks with both risk overviews as well as all relevant details.
Unique user experience with BWise Risk Assessments
BWise has designed a unique user experience, allowing users to conduct risk assessments in a distributed questionnaire format, as well as a drag-and-drop environment for use in workshops. Users see all related control testing results, management issues and audit findings, as well as any related incidents and losses. With this information, they are able to make informed decisions, or even use the calculation engine to calculate risk results based on this information
Start assessing risks immediately
BWise Risks Assessment is an integrated component of the BWise GRC solution. It provides the ability to run risk identification and assessments on all the risk & control structures you have built in BWise. BWise provides a proven method to simply add the Risk Assessment solution to your existing BWise environment and immediately start assessing your risks, without additional configuration and installation. . 
Benefits of BWise Risk Assessments
With BWise Risk Assessments, an enterprise can reduce both your operating costs and risks. BWise provides clear view on enterprise risks as well as lower level operational and IT risks. This allows an enterprise to take timely action, preventing financial losses, legal action or reputational damage.
Questions about BWise Risk Assessments?
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Request the recorded BWise 4.1.2 Risk Management webinar to view how BWise can support Risk Management within your company.
