Enterprise Risk Management Product Tour Video - YouTube

Enterprise risk management is a highly complex process that engages all three lines of defense.

A solid ERM framework should also directly address these five phases:

Assessment Aggregation

Scenario analysis Dashboarding

Reporting

Many organizations struggle to find a platform that is powerful enough to handle all five

phases, yet remains flexible enough to accommodate unique risk profiles.

Until now.

Introducing Wdesk for enterprise risk management.

Here's how it works in every stage of the ERM process.

First, assessment.

This stage is supposed to make identifying and managing risk easier, not more difficult.

However, gathering this wide range of data from a circulation of attachments through

email is less than ideal—and makes ensuring accuracy after multiple rounds of updates

nearly impossible.

Factor in security concerns of critical risk data, and it makes for a time-consuming, manual

effort.

Wdesk allows risk managers to easily engage all three lines of defense in a single location.

All contributors have access to only the information they need, helping to keep confidential information

secure.

Specially designed collaborative features make reminding risk owners to update data

or take action a truly efficient part of the process.

Because information comes from across the entire enterprise, data does not follow a

single format.

This takes hours to manually aggregate unstructured data into accepted formats.

And even more hours are then spent trying to verify accuracy across all outputs.

How does Wdesk fix this?

All data lives in a single platform, so managers can link data everywhere it's used back to

it's original source, ensuring it stays accurate and up to date across all risk documentation—including

risk appetite statements, assessments, dashboards, and reports.

This patented linking technology is what makes Wdesk different from the competition.

You now have full control of evolving values, and automatic history reports track all user

activity and changes.

You now know who changed what, when, and in which location.

To effectively manage risks, enterprises need to run and measure multiple scenario analyses.

However, a major challenge with this step is being able to differentiate between those

scenarios and their results.

Adding calculations to the mix only magnifies the challenge.

In Wdesk, linking solves this problem, too.

By connecting data across multiple scenarios, teams don't need to spend time sifting through

the various risk analyses to verify and organize results.

This means more time spent on analysis, which leads to quicker risk management decisions.

You'll also find milestones helpful.

Mark a milestone at any point to differentiate between risk analysis versions.

The familiar interface, including labeling, makes it easy to update processes.

We all know that distributing key risk information is vital to making informed business decisions.

But, at the rate that risk information changes, it can be difficult to promise that key stakeholders

are viewing the most recent version.

In Wdesk, data is linked across the entire framework, so when a contributor updates his

or her risk data in a workbook, that data point automatically updates across all reports

and outputs.

Executive management and your board can always access up-to-date heatmaps and dashboards—

giving them the ability to take action to mitigate or optimize risks faster.

Risk reports are only as valuable as the accuracy of the data they contain.

With traditional software, the manual effort needed to compile and reconcile data across

assessments, appetites, analyses, and dashboards is so extensive that by the time they are

completed, much of the information is outdated.

With Wdesk, data stays up to date across the entire risk management process.

By not needing to manually verify data everywhere it's used, reporting teams spend far less

time creating accurate risk reports.

Wdesk even automates certification sign-offs.

Set up notification reminders to send to teams and individuals as often as you need.

In order to be effective, risk managers need an ERM framework that can supply an always

up-to-date and comprehensive snapshot of a complete risk profile.

Even though this looks different for every organization, Wdesk provides the flexible

platform necessary to give any organization a view into the exact risk information it

needs.

To see how Wdesk can turn your risks into opportunities, click here.