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BarnOwl Risk Management

The BarnOwl risk management module facilitates a structured and systematic approach to risk management by providing an effective way of prioritising and managing risk and opportunity across the organisation in pursuit of business objectives and strategy. BarnOwl provides a unified view of risk and gives management and staff at every level the ability to identify, assess, manage, monitor and report on risks. BarnOwl provides an early warning system, drives ownership for risk mitigation, and delivers risk intelligence reporting assisting with business growth and sustainability. The BarnOwl risk management module supports and embeds best practices frameworks such as COSO, ISO31000 and The National Treasury Framework.

 

 

Benefits of using BarnOwl Risk Management
  • Facilitates and embeds risk management in your organisation making risk management a ‘living’ activity which is integrated within the business and its operations.
  • Incorporates built-in best practice frameworks such as COSO, ISO31000 and the National Treasury framework.
  • Enables a simplified and streamlined approach to risk management with consistent risk taxonomy and centralised risk library.
  • Supports the automation of risk and control self-assessment voting, surveys and checklists.
  • Enables ‘live’ updating and monitoring of action plans.
  • Facilitates an integrated approach rather than a silo-driven approach to risk management by linking related risks across the organisation and monitoring the knock-on effect of risks, key risk indicators, incidents, controls, causes etc.
  • Provides a built-in, flexible reporting engine with grouping, sorting, filtering, trend analysis, heatmaps, scorecards, bowtie etc. showing you a view of your risk universe at any level of the organisation.
  • Provides advanced business intelligence reporting with full drill down graphical analysis on any risk dimension.

BarnOwl enterprise risk management software helps you to identify, assess, monitor and report on your strategic objectives, risks, controls, and contributing factors.

Features

A central data repository

Benefits

A centralised database provides one version of the truth with data integrity, consistency and standardisation. This eliminates the problem of multiple spreadsheets scattered around your organisation.

Audit trails and history

Audit trails track responsibility and enable accountability. Recording history allows for trend analysis.

Support for standard risk assessments and control templates and processes.

This supports common (transversal) processes, risks and controls which provides uniformity and consistency of information across your organisation and simplifies risk administration.

The various registers (objectives, risks, controls and contributing factors) are owned and maintained at every level of the organisation and can be rated qualitatively and  quantitatively.

Drives ownership and accountability of risk management at every level of the organisation.

Linking of objectives and risks at any or all levels of the organisation.

Facilitates a managed and optimised non-silo based approach to risk management. Provides an early-warning system of the knock-on effects of inter-related risks across the organisation.

Standard Reporting with drill-down dashboards, heat maps, trends, audit trails and scorecards.

Provides pro-active management of risk at all levels of the organisation mapped against risk appetite and tolerance. Trends and benchmarking highlight problem areas in advance enabling you to take remedial action immediately.

Custom Reporting

The flexible design of your own reports and extracts into Excel enables you to analyse information the way you want to see it.

Action plans with ownership, notifications, reminders and escalations.

Facilitates the ownership and ongoing monitoring of tasks which enables management to assess mitigation plans in real-time, driving accountability.

Incident Management records incidents and loss events.

The tracking of actual and near miss incidents provides insight into emerging risks and control breakdowns enabling pro-active remedial action.

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BarnOwl Solutions

RISK MANAGEMENT

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BarnOwl Risk Management software helps you achieve your strategic objectives and enables a culture of risk planning and control with accountability and ownership throughout your organisation. Continual monitoring of your risk universe gives you comfort and confidence in managing your business.

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COMPLIANCE

Chairs

BarnOwl Compliance software allows you to import the various acts, legislation, policies and procedures that you are required to comply with, link these to associated risks and monitor compliance. This facilitates regulatory compliance and director protection.

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AUDIT

Keyboard

BarnOwl Audit software supports any type of audit methodology including risk and control based auditing in support of best practice standards, ensuring that the key risks in your organisation are audited. BarnOwl facilitates all phases of auditing from planning through to reporting with advanced online and offline execution.

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