Risk management is, well, risky business. Commonly held to be one of the more mundane, time-consuming processes to undertake for an organisation, it’s also one of the most critical components of sound corporate governance.
Fundamentally, risk reviews are detailed, critical assessments of your workplace, systems and operations to identify hazards and risk factors that have the potential to cause harm – to your staff, customers, stakeholders, or the business itself.
The risks are then analysed and evaluated and, if not eliminated, at least documented and controlled. Exciting right? I can tell you’re pumped.
Coupled with the ever-increasing number of personal devices, platforms and integrations within any corporate digital network in 2020, the risks have complicated a hundredfold, meaning traditional risk assessment methods using outdated processes and technology simply no longer stack up.
Old methods worked fine for identifying hazards to people in the physical workspace, but we now need solutions that can flow through the 21st-century business models that monitor data, processes, policies and information security.
Imagine a ‘smart’, integrated mobile platform that both enabled and housed the risk assessment and management process. In the words of Marty McFly, ‘watch me for the changes’ and ‘try to keep up’.
A revolution in corporate cybersecurity
The technologies for meeting current governance, risk and compliance (GRC) security haven’t changed much over the last decade.
That might not feel like a long time, yet these methodologies urgently need a modern solution to address the growing demands of compliance, risk and governance in the digital space. Companies need to be able to meet the evolving criteria in a secure and collaborative way.
It’s vital that the artificial intelligence (AI) and digital transformation software used in our companies and making decisions for us today, needs to have the ethics, values and standards of GRC compliance baked into it for our survival tomorrow.
Digital cooperation should not only serve our best interests but protect us all.
We are now seeing the development of game-changing mobile applications which seamlessly integrates people and technology with risk, compliance and assurance; a solution which interconnects organisations, third-parties, service providers and regulators globally.
No time for risks
All businesses need to be fully accountable, but those responsible for governance could also do with better support. Incorrect risk reviews in complicated digital frameworks can leave businesses vulnerable, and endanger the very boards designed to protect them.
By adopting a platform that merges GRC processes with tools and libraries to support their management and integration, vulnerability and errors can be minimised.
Smart risk apps allow for systematic and connected input, giving Board and company directors more time to do what they are empowered to do; run the organisations entrusted to them.
Risk – a game the whole company can play
Let’s pick just one Risk Library a company needs to assess. OH&S. There are plenty of mobile apps that address OH&S management, but nothing out there that leverages the wisdom of those closest to it to give the board a powerful consensus.
6clicks unites the input of those in control of the process and those users needing to follow through with activities and actions (treatment and controls for those playing at home).
The app provides a solution to the traditionally fragmented process, taking it far beyond current management solutions. Whole team collaboration incorporating staff, stakeholders and service providers means that expertise is elevated and shared across the organisation.
Collaboration – coupled with in-app libraries across multiple domains including:
means insightful risk reviews and instant power reporting.
The newest products on the global market, such as 6clicks’ Risk Review For Teams mobile app, released globally in May 2020, renders the unwieldy, old-school systems of risk assessment, management and compliance more inadequate than ever.
Companies wanting to harness the power of their people (and save time and money in the process) will have the opportunity to be on the front foot to manage risks across their organisations.
This results in management and boards being more available for valuable discussions, and better equipped for informed decision making.
Anthony Stevens is Co-Founder and CEO of 6clicks, a revolutionary Software as a Service (SaaS) platform enabling companies to automate vital risk assessment, compliance and ISMS processes. Mobile app ‘6clicks Risk Review for Teams’ enables stakeholders globally to identify and assess risk at a team and organisational level quickly and easily, generating a powerful risk matrix in a matter of clicks.