ERM adoption Continues to Rise. The Protecht team has been very active over the past 18 months with a growing number of clients adopting Protecht.ERM as their platform of choice to manage all of their governance, risk and compliance (GRC) needs.
Since July 2014, client numbers have increased by approximately two new accounts per month across a myriad of industry sectors including government agencies, regulators, health funds, insurance underwriters, credit unions, travel and rail operators, universities and wineries. We have also seen our existing clients increase the use cases on their implementations to encompass all aspects of their GRC. Protecht welcomes all the new clients and looks forward to working closely with them for many years to come.
Internally, Protecht has also expanded its own use of Protecht.ERM to support the Information Security Risk Management System (ISMS) required for the IRAP Assessment (for Commonwealth Government clients) and ISO 27001 certification, which is expected shortly. Read our blog article "Having an (ERM) has become a MUST".
Our customers – old and new – are telling us that the flexible forms design, coupled with an easily configured workflow engine and a powerful business intelligence engine (Analytics module), have driven their choice of Protecht.ERM over other approaches such as Excel / Word, SharePoint, or other vendor platforms.
They are delighted that they can build their own registers, workflows, dashboards and reports without the need for additional vendor services or having to pay for additional modules.
Apart from Protecht’s internal use of Protecht.ERM for ISMS, what else are we seeing clients using the system for? In no particular order, we are seeing Protecht.ERM now being used for:
- Risk and control self-assessments
- Compliance management/
- Key risk indicators and key performance indicators
- Incident management
- Actions management
- WHS incident capture, workflow and reporting
- Register of policy and procedures documents
- Register of internal and external obligations
- Gift and entertainment register
- Contracts register
- Conflicts of interest register
- Complaints register
- Register of audit findings; and
- Contractor due diligence and contractor management register.
With this positive scenario, it is important to analyse why the use of Enterprise Risk Management Systems is increasing. In Protecht’s particular case, there appear to be many drivers of the increase in the uptake of our ERM across all of its modules. Fundamental is the need for businesses to be able to better understand and manage their risks in a holistic manner to enable achievement of their objectives.
There is increasing pressure from regulators for more efficient and effective risk management and to link risk with reward, as shown in the sample Risk / Reward Board dashboard from Protecht.ERM below.
Organisations are also seeing the benefit of using a fully integrated system that allows for data capture, workflow and analysis of any business process that is currently captured using Word or Excel.
Attendees at our recent webinar GRC - Build a Form, Workflow It, Report On It - All in Under 30 Minutes, will know how quick and easy it is to design and build a fully functional form in a short period of time without the need for specialist IT skills or experience.