All organizations need to set strategy and periodically adjust it, with a consistent awareness of the ever-changing opportunities for creating value as well as the challenges that will arise in pursuit of this value. To do this, they need the best possible framework for optimizing strategy and performance. That’s where enterprise risk management comes into play. Organizations that integrate enterprise risk management across the business can achieve many benefits.
Committee of Sponsoring Organizations (COSO) is a voluntary private-sector organization. COSO is dedicated to guiding executive management and governance entities toward the establishment of more effective, efficient, and ethical business operations on a global basis. It sponsors and disseminates frameworks based on in-depth research, analysis, and best practices. Its most important framework, entitled Enterprise Risk Management — Integrating with Strategy and Performance, highlights the importance of considering risk in both the strategy-setting process and in driving performance.
SoftExpert offers the most advanced and comprehensive software solution for compliance management that meets the stringent needs of various global regulations. SoftExpert Excellence Suite helps companies adhere to COSO framework while lowering the costs of compliance, maximizing success, increasing productivity and reducing risks.
The SoftExpert solution offers tools for the complete management of the organization’s risks and controls in compliance with COSO framework. With online collaboration capabilities, the organization and managers can identify and evaluate risks, implement and monitor controls, perform risk and control assessments, involving users, teams, offices and business units with a systematic and unified approach to obtain excellence in risk and control management.
Increase the range of opportunities
Identify and manage risk entity-wide
Increase positive outcomes and reduce negative surprises
Reduce performance variability
Improve resource deployment
Enhance enterprise resilience
Align risk management with strategy and performance management
Improve risk, compliance, control, and governance activities
Facilitate compliance conformity with related regulations, including ISO 31000, ISO 27000, SOX and others
5 Key Stages to Effective Risk Management