The new feature enables better enterprise risk management with integrated bow tie analysis
April 25, 2023
ATLANTA & LONDON – Riskonnect, the leader in integrated risk management (IRM) solutions, today announced the release of Risk Bow Tie Analysis for GRC (governance, risk, and compliance), a new feature for its Enterprise Risk Management (ERM) solution. The enhancement automatically generates Bow Tie diagrams and risk relationships within the solution, making it easier for companies to integrate the Bow Tie analysis into their risk management programs and to engage a wider audience in the communication of risk.
“Bow Tie analysis is a leading tool for assessing enterprise risk in that it helps companies understand risk cause and consequences, develop mitigation strategies, and engage a wider audience in risk management collaboration,” said Riskonnect’s Senior Vice President of Product Management Kathryn Carlson. “Integrating Bow Tie analysis into risk management programs is typically done manually, which creates a hurdle for managers preventing them from leveraging the methodology. We are eliminating this burden and helping companies through automation. Users who may have been hesitant to adopt Bow Tie analysis can now easily visualize risk relationships.”
Riskonnect’s Bow Tie diagrams will automatically generate for customers who have built out risk relationships within the solution. Additionally, when users build Bow Tie diagrams during a risk workshop, for example, risk relationships will auto-populate within the solution.
The release of Riskonnect’s Bow Tie analysis capability is a continuation of Riskonnect’s investment in risk analytics and insights, and commitment to providing customers with an industry-leading user experience.
Sign up for Riskonnect’s upcoming webinar and learn more about risk Bow Tie analyses with risk industry expert Ariane Chapelle and Riskonnect Vice President of Product Management Mike Roberts. The webinar will cover what Bow Tie analysis is, why it’s important, and best practices you can take back to your organization to start improving risk management today.
Riskonnect is the leading integrated risk management software solution provider. Our technology empowers organizations with the ability to anticipate, manage, and respond in real-time to strategic and operational risks across the extended enterprise. More than 2,000 customers across six continents use our unique risk-correlation technology to gain previously unattainable insights that deliver better business outcomes. Riskonnect has more than 800 risk management experts in the Americas, Europe, and Asia. To learn more, visit www.riskonnect.com.
Corporate Ink for Riskonnect