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Enterprise Risk Management Technology

Are you ready to evolve to the next level of ERM maturity?

Ventiv’s ERM module empowers you to manage risk across your enterprise, facilitating the distribution of risk management to a broader set of key stakeholders—all while providing you with all the control and oversight.

Once you’ve established an ERM process, Ventiv provides immediate value by supporting the efficient integration of ERM into your enterprise’s existing management processes.

Ventiv’s ERM module can be easily adapted to match your specific framework, including appetite, assessment and scoring definitions. Ventiv allows you to consolidate multiple spreadsheets into a single source of the truth, while still providing different viewpoints (e.g., global, regional, local).

Expand risk management into the enterprise

Enhanced intake tool to easily roll out your ERM process for updates on risks, controls and actions plus powerful reports and analytics for distributing insights.

Maximizing value from your ERM process

Improve real-time reporting and analytics to help you make better risk-based decisions.

Integrate ERM, safety, audit and insurance management

Use a single technology platform across ERM, safety, audit and insurance activities.

Gain efficiency

Reduce the effort in managing your ERM process with better workflow, aggregation, consolidation and reporting.

Rolling out ERM

Rolling out ERM across the Enterprise

With your ERM framework and process established, you are now at a stage to move away from ad-hoc spreadsheets and integrate ERM into your organization. Ventiv’s new technology platforms—Ventiv Digital for intake and Ventiv IRM for risk management—make it even easier and promotes efficient use of resources.

  • Allow the risks and controls to be identified and assessed;
  • Establish an action plan to accept, transfer, treat or eliminate the identified risks;
  • Support control tests and reviews as part of your compliance activities;
  • Monitor and report on the risk landscape (including KRI’s) and progress on actions;
  • Embed risk management and drive best practices;
  • Automation of your workflows and dynamic aggregation and consolidation.

Help your ERM framework become more than just a compliance exercise

Successful ERM programs help senior management and boards better understand critical risks—both existing and emerging—and the potential impact of those risks on financial performance and operational health. Ventiv helps support this by providing the reporting and analytics to help you promote a culture of risk-based decision-making. By facilitating analysis of top and emerging risks, you're better positioned to focus on actions that improve your organization's risk landscape.

ERM
ERM-grid

Let ERM and insurance work together

Ventiv will let your ERM and insurance management activities work together under the same risk technology solution. Distinct activities and processes can be handled separately or together, as appropriate:

  • Integrated incident and loss reporting, including corrective measure tracking and root-cause analysis.
  • Linking of risk-transfer controls with the actual insurance policies.
  • Sharing of common operational information, including company hierarchy.

How are you assessing your risks?

Ventiv’s ERM module includes the classic risk assessment, using an impact-versus-likelihood scoring system for inherent, residual and target scenarios. However, does this always help your board spot the key risks, or does it just identify the risks you already know about? Ventiv IRM has the flexibility to amend the scoring system to meet your needs and better help your board manage risk:

  • Incorporate risk velocity
  • Look at pure minimum and maximum impact ranges
  • Utilize a completely different methodology

Features

Hierarchy and Categorization Support

Ventiv supports your organization's unique hierarchy so that risks can be mapped to your distinct business structure. Multiple hierarchies are also supported covering risk, product, project, service or other unique needs. These allow easy aggregation and consolidation up to high levels in their structure.

Full Audit Trail and Change Tracking

Ventiv’s ERM module provides a full audit trail of all changes made to your risks. This allows you to see each individual risk assessment—and, at a more detailed level, every field change. With this capability, you can easily generate reports for any specific period, as well as comparative periods to spot any emerging risks or trends.

Automated Workflow Alerts

Ventiv allows you to manage and have oversight of your risk processes, with automated emails to alert and remind you of action items. Plus, review and approval steps to demonstrate compliance with your corporate standards.

Integrated Reporting and Analytics

Ventiv provides a comprehensive range of reporting and analytic capabilities, to allow timely insights and identification of risk trends and outliers.

  • Text searching and mining
  • Data discovery dashboarding
  • Standard and custom reports for board reporting

Simplified Intake Forms for the Non-Risk Professional

The Ventiv Digital data-intake tool allows the risk manager to easily collect updates from across their enterprise. Utilize custom-built forms that can be tailored around your particular ERM framework and processes, plus options for both desktop and native app usage. Ventiv Digital provides stakeholders a non-challenging and easy-to-use step up from spreadsheets.

  • Risk event reporting
  • Risk assessments
  • Risk register approvals
  • Attestations

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Experience Greater Clarity and Efficiency Now.

Our team can help your organization solve its risk, claims and safety management software needs.

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