Strategic Thought

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 Compliance Management

Compliance Management and Active Risk Manager (ARM) Software: Active Risk Manager is the world’s most widely used and comprehensive enterprise risk management software system. ARM supports the broadest range of risk, governance and compliance standards, including COSO (ERM & Controls), PmBok, HIPAA, FDA, CMI, COBIT, SOX, HSE, The Orange Book, EFQM, Basel II & Turnbull.

What sets ARM above the competition is a highly configurable platform that allows a company to implement its own ERM process that continually develops as the process matures and evolves.

How ARM can help your organization to manage (for example) SOX compliance:

• Top down and bottom up reporting to ensure that executives are kept up-to-date with the business situation, and that pre-defined controls and plans can be implemented across the organization.
• Pre-defined structured reports and reporting framework ensure out-of-the box SOX section 302 and section 404 compliance.
• Robust process-specific alerts and notifications engine, including comment and comprehensive audit functionality facilitating greater transparency.
• Increased co-operation and collaboration across the enterprise via exact mapping of organizational structure by departments, products, reporting lines and user groups.

How Compliance Management + Enterprise Risk Management Software = Reduced Costs & Improved Performance

In addition to its compliance management capabilities, Active Risk Manager’s ERM software is unique in its ability to take into account losses from past events. Managers can report on how effective the risk management process has actually been, thus demonstrating visible return on investment.

Capturing business events and near misses from the operational layer enables executives to:

• assess statistically the possible recurrence of key losses in identified risks.
• demonstrate a reduction in losses over time as a result of improved risk management actions, thereby increasing profits (i.e. real ROI).
• use the risk management process to better manage insurance costs and cover (linking past losses to future insurance needs).

In other words, ARM facilitates the reduction of costs (including the cost of risk management) across the business, and measures how effectively risk mitigation plans have reduced real business losses.

For more information, please download the Compliance White Paper from the sidebar on the right.