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BarnOwl

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Deon Janeke

JD Group

Enterprise Risk Manager

“BarnOwl staff are very professional”

Highlights

  • Customisable; very user-friendly.
  • A large variety of exportable reports and dashboards providing a birds-eye view of the company.
  • Weightings can be applied to business units in the company and caters for strategic as well as operational level risks.
  • Linking or embedding to any type of document related to risk, objective, control etc.
  • Risk templates are very useful for risks that appear in more than one business unit.
  • Default rand values are useful when risks are quantified against business unit profits/revenue.
  • The numerous automation and alerts assist greatly in updating risk with the latest information.
  • The security of the system is very good and provides a proper permission management from software accessibility to business unit level. (Owners allocation)
  • The linking of risks is a great advantage when studying and quantifying related risks.
  • The software and web based solution allows for various considerations when calculating and identifying new risks.
  • The newest highlight in our company was the regulatory universe which fully integrates with the risk management system.
  • Another highlight was the BarnOwl lite product, with what access can be gained via 3G though smart devices.
  • It integrates well with the internal audit module.

BarnOwl Team interaction:

  • BarnOwl staff is very professional. Several change requests to reports and upgrades were done without hassle. The interaction with our IT department is always well coordinated.
  • Training courses are professionally conducted.

Challenges

Ten years ago Our business required a formal process to Risk Management. Something that would not only provide all elements of risk but that would also guide us in the process. Affordability also had to be considered and BarnOwl was the answer!

Solution

We found BarnOwl to be affordable in comparison to other solutions available on the market. A key requirement for us was that it had to integrate Risk Management with Internal Audit, which it did. BarnOwl, was also the closest solution which met the requirements of COSO and ISO 31000.

Benefits

  • There is only one standard in approaching Risk Management in the company currently. We were able to establish the potential risk exposure and better decision making when mitigating risk. “You can’t manage, if you don’t know what to manage”.
  • Risk Management in its entirety has improved the Group’s cognisance of risk management and to realise the possible consequences.
  • BarnOwl provides accurate and reliable reporting

 

Other Clients:

WBHO

Mercantile Bank

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