Automating risk management and incident reporting
Why can’t you always identify risks first, so they can be managed before they become full-blown incidents? The answer to this valid question is simple: you can’t always tell what came first, the risk or the incident – a common chicken-or-egg scenario that arises due to the subtle or hidden indicators of risk, making them difficult to identify early. This often means that an unexpected incident that has a sudden and significant impact on a business will prompt an organisation to add it to the risk register.
Amid these blurred lines, you can clearly see that incidents are a rich source of information about risks and vice versa. To harness risk and incident data to provide strategic insights that guide the business, you must look beyond proactively identifying risks in isolation by aligning risk management with incident reporting.
To effectively integrate risk management and incident reporting, businesses should amalgamate their processes using governance, risk, and compliance (GRC) software to automate and align both functions. Explore all the features of best-practice risk management and incident reporting processes, and discover how these areas can be integrated to provide data driven outputs to guide decision-making.
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