The RCMS suite allows, through a simplified but flexible and integrated approach, the formalization and streamlining of methodologies and activities that an organization must implement to manage the risk and compliance process. The suite provides users with a number of benefits:
Integrated Approach: The solution provides users with different but integrated modules that can utilize data generated by each module to facilitate the next step of the risk and compliance management process. This allows for efficiency and a multi-dimensional common view of risk and compliance data within the organization.
Common Universe View: The solution allows for the definition of a common universe that is utilized by all modules, including an organizational structure for different entities with assigned customized parameters (e.g. processes, assets, third parties, products / services, locations, teams and resources). This creates a common point of view of the organization for all assurance functions.
Common Assurance Framework: The solution allows for the definition of a common but flexible assurance framework that is utilized by all modules, including the risk assessment methodology parameters (i.e. risk categories, control categories, likelihood and impact levels, risk matrix profiles) and template libraries that can be used to standardize and optimize assessments, audits and evaluations based on regulatory and other requirements.
Dual User Interface: Users can access the system to enter, edit or extract data via two possible interfaces. The main interface is provided via a desktop agent and facilitates access of key users to the full functionality of the core application. Users that require access to specific functionality only (e.g. registering incidents, updating the status and progress of actions assigned) can access the system via a web interface.
Efficient, Continuous and Controlled Process: The solution minimizes the use of manual methods, limits the risk of errors, allows for accurate and timely reporting and allows processes to take place in parallel and automatically in a controlled environment. The business functionality is supported by universal platform capabilities, including custom alerts via email and text messages, extensive search, document management, interfaces to other systems, etc.