Are you looking for an efficient risk management software solution to help you systematically identify, analyse and control risks in your Company? otris risk offers you exactly that: a comprehensive solution for rating risks, taking appropriate measures and increasing security through automated processes – all while reducing costs.
Digital questionnaires and workflows enable straightforward risk assessment.
The entire process, from risk assessment to the determination of the measure, is efficiently controlled.
Action monitoring, documentation and reporting are carried out without manual effort.
Our risk management software at a glance
With otris risk, you can manage your risk management efficiently and securely. Automated workflows for risk identification, documentation and action tracking reduce administrative effort and offer you full control. Thanks to individual customisation options, you can seamlessly integrate the software into your existing processes. The latest security standards and GDPR-compliant data processing guarantee maximum protection.
Risk Assessment | Identification
A flexible, questionnaire-based workflow supports you in identifying and rating risks. The content and evaluation parameters can be customised to meet your specific requirements. The dispatch, documentation and evaluation are carried out automatically.
Risk Documentation | Recording
Recorded risks and findings are systematically stored in the digital risk documentation. The process for releasing and updating the entries is controlled by a workflow that can be customised to the needs of your company.
Action Management | Organisation
Action management is an efficient way of controlling actions to minimise risk. A follow-up workflow is used to track audits and workshops to minimise risk in a targeted manner, ensuring that all actions are completed.
Reports | Automatic Monitoring
The system regularly generates automated reports based on predefined data categories. This means you continuously receive statistics on newly identified risks, as well as the progress of measures and their processing status.
Customised workflows | Your business processes
Customised workflows can be seamlessly integrated into the system. They can be flexibly adapted to optimally support your specific business processes and simplify operational work.
Security
In the SaaS version, otris risk is hosted in ISO 27001-certified data centres in Germany. Regardless of the operating system, modern encryption and GDPR compliance ensure optimal data protection.
Why you should rely on the otris risk management tool
Entrepreneurial activity involves risks. After all, opportunities rarely arise without risk. The challenge is to manage risks systematically. This includes, on the one hand, identifying dangers and quantifying possible effects (e.g. financial and reputational damage). On the other hand, companies must derive measures from the analysis to control the identified risks.
Identifying risks and weighing them against business potential is something that companies do even without a specific risk management system. The difference between them and companies with an established risk management system is the lack of a systematic approach. Risks can only be strategically controlled with firmly implemented processes. The otris risk management tool supports you in this task.
Other aspects of our otris risk solution:
Usability. Clear user guidance.
Risk management is a complex process. Therefore, it is all the more important to make the mapping of workflows in the software as easy as possible. otris risk management is based on our documentsOS platform with its proven and constantly evolving user guidance. The well-thought-out interface design simplifies navigation and efficient use of the software.
Range of Functions. Customisable standard software.
Companies can adapt our risk management solution to their requirements in a variety of ways: By selecting a software edition, they determine the basic range of functions. Extensions cover special requirements. The architecture of the risk management software is designed to be so open that adjustments – from data field additions to complex interfaces – can be easily implemented.
Scalability. Easy to expand.
Both the range of functions and the number of user accounts can be quickly and easily expanded. For example, you can start risk management at the level of individual departments and then gradually roll out the system to other departments, subsidiaries or the entire group. User accounts that are no longer needed can be cancelled at any time in SaaS mode.
On-premises or cloud. Choose the operating model that suits you.
We offer our risk management software as a cloud-based and on-premises solution. You choose the operating model that meets your requirements: with the on-premises solution, the software runs on your company’s servers. With the cloud solution, you access servers in a secure data centre (located in Germany). In both cases, users access the solution via a web browser.
otris risk increases security and efficiency in risk management.
How does our risk management solution work in practice?
The basis for systematic risk management is a company-specific risk strategy. The strategy defines guidelines for dealing with risks. Each company develops its own risk strategy. The otris risk management software provides support for its operational implementation.
Identify risks. Automated inventory.
A continuous risk inventory is a prerequisite for all further steps in risk management. The otris risk management solution integrates a questionnaire feature that you can use to organise and evaluate surveys. First, you create the questionnaire content (e.g. questions and selection answers on the topic of invoice approval).
The software transfers the content into a digital questionnaire that functions like a web form. You can then assign the respective questionnaires to the employees responsible for answering them. The rest of the process is automated: the employee receives an email with a link to the questionnaire. After answering the questions, the system informs you when the questionnaire has been returned and provides you with the results. The evaluation is also automated: you define in advance how the system rates the answers.
Example: Regarding the approval of invoices, you can ask whether only department heads are allowed to approve invoices over €10,000. If the question is answered with ‘No’, the system marks the process with a red traffic light symbol. Provided that the questions are asked and addressed correctly, you can use the survey to determine where there is potential for risk and a need for action.
Use the results. Derive recommendations for action.
You can derive recommendations for action directly from the survey results. For example, a guideline could be derived from the finding regarding invoice approval, stating that invoices exceeding €10,000 may only be approved by the head of department. Depending on the finding, this pragmatic approach can be the most effective method for managing risks.
Rate risks. Determine the risk level.
For each documented individual risk, the data controller (e.g. risk owner) defines the potential damage and probability of occurrence. Rating can be done using a variety of methods, which can be configured to your specifications. The system calculates the risk level from these parameters. The responsible employee (e.g. risk manager) reviews the result and releases it if the risk is to be included in the catalogue and the risk matrix. The matrix helps you to quickly identify which risks, literally, have been assigned to the ‘red area’ and thus have a high potential for damage and/or a high probability of occurrence.
Organise measures. Efficient control of measures.
Traffic light symbols show you whether action is required for individual risks and findings. If you initiate a measure, link it to the respective risk or finding. The system informs the data controller (e.g. risk owner) about the measure and the task you have formulated. The system also supports the follow-up of the processing status: If the data controller does not process the task within a defined period of time, they receive a reminder. Traffic light symbols show you which tasks have not yet been processed, are in progress or have been completed by which data controller. You use recurring tasks/checks to document and monitor essential components of your internal monitoring system.
Configure the system. Flexible customisation.
System configuration allows you to adapt otris risk management to your company-specific risk definition and strategy. Rating parameters for risks/findings and specifications for the risk map structure control the subsequent classification. You can customise the system to a large extent to suit your risk strategy on your own. otris consulting will support you in adapting company-specific workflows (e.g. approvals).
Compliance software for individual requirements
The many challenges in risk management are reflected in the feedback from our customers. To optimally meet specific needs, our customers flexibly combine our risk management tool with other specialist solutions from the otris compliance SUITE or the otris privacy SUITE. This is how we create customised solutions that meet the individual requirements of your company.
What are the benefits of digital risk management?
Digital risk management offers companies numerous advantages that improve both the efficiency and effectiveness, and thus the security, of risk management. Here are some of the most important benefits:
Automation and efficiency.
Digital risk management systems automate many manual processes, such as collecting and analysing data. This reduces the effort required for risk analysis and speeds up decision-making processes.
Improved data quality.
By using digital tools, data can be collected, analysed and updated in real time. This results in more accurate and up-to-date information that enables better decisions.
Transparency and traceability.
Risk management software ensures better documentation and traceability of all processes and decisions. This makes it easier to comply with regulations and audits, as all steps are clearly documented.
Integration and networking.
Digital risk management can be integrated into existing systems to combine information from different areas of the company. This enables a holistic view of the risk landscape.
Better communication and collaboration.
Digital platforms enable different divisions of a company to work together seamlessly to identify and manage risks (e.g. by using digital questionnaires).
Cost savings.
Automation and the reduction of manual processes can reduce costs. In addition, potential losses can be avoided through more efficient risk control.
Overall, digital risk management helps to manage risks proactively and efficiently, resulting in a more stable and resilient organisation.
Get to know the otris Risk management software – Make an appointment now!
Are you looking for a digital risk management tool that helps you to identify risks at an early stage and manage them effectively? With otris risk, you can establish a standardised and efficient risk management process in your company – from risk identification and analysis to action management and reporting. We would be happy to show you how this works in practice in a guided demo. Contact us today and arrange your personal consultation!
Online demo | Register now for free!
FAQ: Risk management software
What is risk management software and why is it important?
Risk management software helps companies to identify, assess and monitor potential risks. It is crucial for anticipating unexpected events and implementing risk mitigation measures, making companies more stable and resilient in the long term.
Which industries benefit most from risk management software?
Risk management software is beneficial across all industries. Companies in regulated industries such as financial services, healthcare, manufacturing and energy in particular benefit from structured risk management to meet compliance requirements and minimise business disruption.
Can the otris risk management software be customised to individual needs?
Yes, otris Risk management software is flexible and can be customised to the specific requirements and processes of your Company. This allows you to ensure that the software optimally covers your individual risks and compliance requirements.
How secure is the use of otris risk management software?
The security of your data is a top priority. otris Risk management software offers comprehensive security measures, including encryption, access controls and regular security updates, to protect your sensitive information.
How long does the implementation of otris Risk management software take?
The implementation time varies depending on the complexity of the requirements. As a rule, the software can be implemented and integrated into your existing processes within a few weeks.
What support options does otris offer for the risk management software?
otris offers comprehensive support, including training, telephone service, technical support, SLA and regular updates to ensure that your software is always up to date and working optimally.
