Managing Risk with IBM’s GRC Business Analytics Solutions
In a world of ever changing government and industry regulations, many organizations are having a challenging experience efficiently meeting compliance requirements. Additionally, as the economy continues to sputter, organizations are exploring new ways to reduce loss, improve decision making around resource allocation, and optimize their business processes. With the latest release of IBM’s Governance, Risk & Compliance (GRC) solutions, which includes: OpenPages and Algorithmics, meeting these requirements and beginning to improve processes internally can become seamless. The painful, long drawn out process of managing market, credit and liquidity risk can soon become an efficient exercise. Integrating your current reporting technologies (IBM or not) will help your organization gain greater risk visibility and be ready for any challenges.
IBM OpenPages Software
Currently, IBM OpenPages offers specific GRC solutions for several highly regulated industries including banking, utilities/energy, insurance, and pharmaceuticals/healthcare. OpenPages is designed to enable C-level leadership to take a proactive approach to managing risk. These prebuilt solutions provide reporting, analytics and document management capabilities that address Key Risk Indicators (KRIs), Issue Management, and Loss Event Management. By leveraging Cognos as the reporting backend, users experience best-in-breed reporting technology with complete intractability including drill down, drill up, dash-boarding and mobile integration. Most importantly, OpenPages will integrate directly with your reporting tools in most cases.
IBM Algorithmics Software
Within the financial industries, identifying credit and market risk proactively will ensure that all organizations are able to identify the strongest opportunities for profit, as well as the largest areas of risk or loss. By utilizing Algorithmics, asset management firms are able to run simulations to learn what risk is present in any investment, in many different markets. Additionally, Algorithmics has an automated data management system that enables users to directly reduce operational risks. Algorithmics also offers a web-based reporting front-end that can also tightly integrate directly with other reporting tools and source systems.
If you’d like to learn more about IBM’s GRC solutions, view a live demonstration or request a quote, please contact us on the web or call 1-855-4IRONSIDE for more information.