Strategic Thought Group just announced in a press release on August 10, 2010 that it has introduced a new way to access and interact with its leading enterprise risk management software Active Risk Manager Lite- look at their website www.strategicthought.com. This will enable large scale roll out of the risk process to non-expert users at all levels of the organization.
Enterprise risk management systems were once considered expert software purely for expert users or risk processes were handled by standalone spreadsheets which made it difficult to provide enterprise-wide transparency in a secure and auditable way. STG’s new option, ARM Lite, ARM for Outlook and Collaborative Workshop Solution (CWS), solve these issues. ARM delivers an enterprise solution so that even staff involved in the risk process infrequently can do so easily and without the need for in-depth training.
This will enable organizations to devote the risk process to the operational levels of the business where often risks impact most and are best understood, involving more employees and helping to achieve a risk and opportunity aware culture. These are key principles of ISO 31000 the latest international risk management standard.
ISO 31000 states that to be effective the risk management process should be embedded into the culture and practices of an organization and be an integral part of management. In the past, there have been numerous obstacles to making this a reality including the standalone nature traditional spreadsheets-based risk register, which leave a business unable to take management decisions based on the complete picture, the lack of effective and easy to use tools to collect risk and opportunity information from all employees, whatever their location and the cost of giving access to a common risk system to large numbers of individuals. STG is addressing these issues head on. This will enable divisional and functional levels to justify their migration from spreadsheet based and standalone systems to a single enterprise software solution.
