Companies are now developing strategic plans and programs to oversee the day-to-day operational risks that may occur within their business. These risks can run across all processes including the risk of failed internal actions, people and systems, or from external events including those precipitated by customers and suppliers. For most companies, managing these projects has been split between various departments. However, this limits visibility across the entire organization. With the implementation of an enterprise framework, companies will ensure that their risk goals and initiatives are being addressed among all departments within the entire company rather than only in select areas.
The IQS Solution provides companies with the capability to document and assess all their potential operational risks. Additionally, the IQS Solution provides companies with the ability to schedule and manage audits and addresses any nonconformance or required remediation.
Reporting capabilities provide customers with the ability to drill-down to reports, scorecards and dashboards to gain visibility into their company’s operational risk efforts with a single click, providing an easy way to access the data at all levels.