SIMPLE, EFFECTIVE, WEB BASED TOOL

Ideal tool for SME who want to make minimal investments in a tool, yet derive the full power of Risk Management, Incident Management and more.

Modules

Risk Management

  • Risk Management
    Comprehensive risk registers with risk likelihood, risk impact and final risk score for each Business Line

    Consolidate all risks by business line and maintain centralized repository of risks. Map each to mitigating control, risk assessments (likelihood, impact rating). Focus on top 20-30 risks rather than get entangled in insignificant risks.

Incident Management

  • Event and Incident Management
    A fire at a factory or a notice from the Tax Dept; all need to be tracked, investigated, process changes incorporated and reported.

    Every company experiences incidents and events that can result in financial loss, reputation damage and possibly non compliances. Event reporting functionality is a way to report an event, communicate to senior management automated workflow. Immediate reporting means damage control can be quick. Analysis of historical events also gives valuable information for process improvements.

Audit Management System

  • Audit Software
    follow up on audit observations, status of management comments and follow up for open observations

    Create observations related to a control, policy or procedure. Quickly fetch the list of open observations by audit area, auditee, department or SBU. Track completion status of all open observation based on completion of action plan.

Compliance Management

  • Compliance Management
    Regulatory Compliance is a major worry for any company, small or large. With new regulation hitting companies everyday, manual compliance is just not possible

    SMERISK enables automation and automating all regulatory compliance in one online platform. Follow-ups, reminders, escalations are possible through one centralized repository across geographies.

Details and Key Features

Risk Management

Build a complete risk register for each major function, assess the likelihood and severity of the risks and monitor key risks. Build a risk mitigation plan and an action plan to manage risks. Comprehensive risk reporting enables effective risk management. Workflow, escalation and email reminder mechanism ensures fully automated environment.

Compliance Management

Manage all legal and regulatory compliances in one centralized platform. Automated email reminders, notification of upcoming compliances helps to ensure that there are no non compliances. Compliance Assessments are survey like questionnaires that can be rolled out to Branches and regional offices to assess how effectively they comply with external regulation or internal policies

Key Features

Key Features of various Modules

The simple, yet effective tool is loaded with key features that form part of each component.

Risk Management

The tool also provides control effectiveness index that measures how strong internal controls are in the company. Internal Audit team can test internal controls to improve processes and minimize losses.

Key Feature: Complete Mapping of Risks and related Controls

Consolidate all policy and process, procedures documents online and enable file level permission to view, download and access documents. Version control makes sure that your team is using the latest documents.

A big risk in today's times is the outsourcing risk and greater dependence on vendors and third party service providers. Companies that do not adequately rate and monitor such relationships have significant risks from delivery failures, reputation risk, data confidentiality and legal risks. SMERISK enables automated scoring models that generate a single vendor rating index to take go, no go decisions.

Compliance Management

Once various compliances are entered in the tool, they can be conveniently tracked and managed to ensure that there are no delays or overdue items.

When it comes to Compliance Management, it is absolutely important that people are properly reminded of various compliance requirements. Automated emails to the owner of the compliance means that they are made aware of the tasks ahead of time.

With segmented reporting, it is possible to monitor compliances by various Acts and regulations.

Incident Management

Every company experiences incidents and events that can result in financial loss, reputation damage and possibly non compliances. Event reporting functionality is a way to report this event in the database and through the workflow communicate to senior management. Immediate reporting via email means that damage control can be quick. Analysis of historical events also gives valuable information for process improvements and necessary policy changes.

Key Feature: Worflow based escalation of event reported

Events after reporting can be taken up for investigation. An example might be possible minor fraud in accounts receivable. Once reported, a team can be setup to investigate. Results of the investigation can be uploaded in the tool.

Usually companies have adequate insurance for loss events, but due to delays or lack information, the insurance claim is not filed. The tool captures all necessary information regarding status of insurance related events, amount of insurance, policy details etc.

Audit Management

Create observations related to a control, policy or procedure. Quickly fetch the list of open observations by audit area, auditee, department or SBU. Track completion status of all open observation based on completion of action plan created.

Create corrective and preventive recommendations for improvements in identified observations. Auditee create action plan, assign responsibility and sets deadline in response to the suggested recommendations.

Automatically reminds auditee to update status on pending action plan activities. Automatically escalates activities that remain incomplete after certain no. of days from due date of the activity.

Common Features across the Tool

Dashboard

Get enterprise level, location level, risk category level, department level status of risk, audit, incident or compliances. Easily monitor status of critical and high risks and compliances.

Compliance Universe

Allows creating laws, acts, compliance and events that are applicable to your organization. Allows import of compliance to jump-start you with the application..

Automated Alerts and Email Reminders

Once due dates are established, the system reminders the task owners and executive responsible for the issue or action plan. Automated email notification, reminders means no manual processes or forgetting to complete tasks..

My Compliances

On one single screen, compliance owner can view list of compliance that they are required to comply in a week, a month or a quarter. One can update the compliances as complied and upload proof of compliance. Workflow: Built-in workflows to manage items posted.

Reports

Pre-configured built in reports gives complete compliance related information such as due date, owner, status etc.

Complete control over Masters

Administrator of the tool has complete control to configure the masters completely as per individual organizations requirement.

No Administration or Hosting Burden

We take care of complete Web based Hosting, regular updates, new reports and so on. Your only task is to use the tool.

Payment Options
  • Online Payment Gateway
  • Annual Subscription payment via cheque
  • Monthly payment by direct deposit to our account

Benefits of SMERISK

We achieved Return on Investment in less than a few weeks. Imagine the staff cost to process information and report events on a manual basis. The maintenance of excel sheets were subject to errors and require extensive manual efforts.

Chief Financial Officer, Manufacturing Company

ROI is equal to better decision making due to the information available at one place ensures that there is proper risk management of the events that did take place.

CEO, Travel Company

Helps Audit, Compliance, Legal, Risk and Finance functions to collaborate and arrive at a solution that is archived and tracked. Audit trails of approvals of events, decisions made is possible.

Business Unit Head, Steel manufacturer

Easily configurable as per your requirements. No need to rely on us for minor updates. Core application is fully configured to capture essential reporting and monitoring mechanisms applicable to most companies.

IT Manager, BPO Services Company

Pricing

Monthly Subscription

For a low monthly fee, get access to the complete tool for all your employees.

  • Pricing - Pay a small initial onetime fee and then a monthly low cost subscription monthly. No fixed contracts. Terminate at will.
  • Benefits - Access to complete application hosted on our servers. Free updates, upgrades, initial configuration.

Free Full Demo

You can avail a full demo of the platform that you can experience at your own pace by logging into our system as various users. What's more, we are providing full one month access with no upfront payment or commitment.

  • Benefits - You can try out the product during the one month period.
  • No setup cost - We willimplementthe solution withoutany setup costs.
  • Demo Request - Please send an email to manoj.jain@riskpro.in for more details.

Monthly Subscription with Advisory

  • Pricing - Pay a small initial onetime fee and then a monthly low cost subscription monthly. No fixed contracts. Terminate at will.
  • Benefits - Access to complete application hosted on our servers. Free updates, upgrades, initial configuration.
  • ADD ON: Major events and issues reported are also emailed to Riskpro advisory team for recommendation, event support, and improvement in process changes. Quarterly presentation to Senior Management on historical activities, trends, patterns and necessary recommendations on risk and compliance improvements

Riskpro Clients

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