ERM Software
Although implementing enterprise risk management (ERM) can be challenging, it provides a clear route to organizational resilience.It is time-consuming and prone to error to manually manage ERM across a large organization. It can be challenging to obtain a comprehensive understanding of hazards due to data collecting silos. Without a common platform, departmental collaboration and communication are also hindered. This is where automation of ERM is useful. ERM software facilitates process optimization, enhances interdepartmental communication, and enables firms to proactively mitigate risks prior to their escalation by automating data collection, analysis, and reporting.
Software for enterprise risk management (ERM) simplifies the difficult process of locating, evaluating, and reducing risks throughout your company. These are the main elements to take into account while selecting an ERM system.
- Features with Flexibility of Multi-ERM Frameworks: Depending on your unique requirements, the software should support many risk management frameworks, like COSO, ISO, and others.
- Reporting Quality: Data-driven decision making and transparent communication depend on strong reporting capabilities.
- Mobile Device Access: It ought to be responsive on mobile devices so you may act from any location.
- Extract, Transform, and Load (ETL) technologies: These technologies allow enterprises to seamlessly integrate data from a variety of databases.
- Sturdy Database: Information pertaining to risks must be stored and managed in a safe, dependable database.
- User-Friendly Interface: Processes for risk management are made simpler and user adoption is encouraged by intuitive design.
- Dashboard/Cockpit: A centralized dashboard should provide you with real-time insights and allow you to keep an eye on key risk indicators (KRIs).
- Deployment Model with SaaS or On-Premise: Depending on your preferred architecture, you should be able to select between cloud-based (SaaS) or on-premise deployment.
- High Software Performance: Effective risk management depends on seamless functioning and quick reaction times.
- Local Customer Support: Quick and efficient assistance guarantees that you get the most of your ERM program.
ERM Software Automation
There are many benefits to using ERM software besides making risk management procedures go more smoothly. The following are some important advantages that can greatly improve the general well-being of your company:
- Integrated risk management that is in line with your strategy;
- One platform for performance management and risk management
- Faster implementation and change management;
- Less training and deployment;
- Scalability and risk management for all departments;
- ETL layer to interface with business data and underlying processes
Automating risk management is definitely the way of the future. Manual ERM finds it difficult to keep up with the modern business environment’s complexity. In addition to being very expensive and time-consuming, relying on spreadsheets and compartmentalized data collection is also prone to mistakes. Consider the labor hours devoted to obtaining and assembling risk information from multiple departments. Furthermore, proactive risk mitigation is hampered by the frequent lack of real-time insights in manual operations. These issues are resolved via automation, which streamlines data gathering, processing, and reporting. Workflows are automated, human error is decreased, and a consolidated platform for risk management is provided by ERM software. This results in substantial cost savings, increased effectiveness, and quicker decision-making—all essential for negotiating the dynamic risk environment. Put simply, automation of ERM replaces manual ERM as the more sustainable option over time.
Our Solution
We, Pramatech and OTI, decided to launch an ERM system, in Indonesia.
Our solution provides an integrated risk management solution designed to help companies recognize, assess, and reduce risks. By offering enhanced accessibility to risk-related information, our solution helps management make well-informed strategic decisions. By integrating fragmented processes, setting timely priorities, and streamlining risk management, it guarantees that businesses can proactively handle potential challenges.
Businesses may build a comprehensive database of all identified hazards with our solution, including with essential details on the traits and outcomes of each risk. The method assists users in maintaining accountability by designating a risk’s owner, allowing them to focus on evaluating the consequences and advancing effective risk mitigation techniques. Implementing control procedures and carrying out ongoing strategic planning are made easier with the help of this unified repository.
 Identify |  Register |  Assess |  Mitigate |  Monitor |
| Provide improved access to risk-related data, StratRisk assists management in formulating well-informed strategic choices. It ensures that firms may proactively handle possible difficulties by streamlining risk management by creating timely priorities and connecting disparate processes. | Build a repository of all identified risks; include additional information about the nature of risk. Through providing improved access to risk-related data, our solution assists management in formulating well-informed strategic choices. It ensures that firms may create timely priorities and connecting disparate processes. | Our solution reduces exposure to potential dangers and eliminates uncertainty to assist enterprises in risk assessment. By utilizing historical data and precedent, the system enables users to contextualize risk events, hence simplifying the process of evaluating the probability and consequences of individual risks. | Our solution helps to explore various options and actions to optimize gains and minimize losses. Our solution provides a systematic approach to risk management, ensuring that businesses can effectively manage risks and maximize their strategies for sustained success. | Visualize KRIs and analyze them in real time. Utilize traffic-light gauges to quickly identify potential hazards. Track and measure important risks, and regulate indicators to get rid of possible dangers. Our solution real-time display and analysis of Key Risk Indicators (KRIs) aids organizations in quickly identifying hazards through intuitive traffic-light gauges. |
With its easy integration with existing strategy and performance management systems, our solution provides an all-inclusive approach to managing corporate risk management protocols. Our solution ensures that risk management is intimately linked with strategic goals and performance measurements, allowing organizations to proactively govern and change their risk management procedures within the broader framework of their business objectives. Our solution guarantees that risk management is closely aligned with strategic goals and performance measures.
Our solution has the appropriate combination of integrated technologies to recognize, evaluate, and reduce enterprise risks. Our solution provides you with the precise tools you require at each given point of your business life cycle, whether you are a startup, an enterprise, or anything in between.
For more information, please contact:
| Riyadi Wibowo (081284308939) riyadi@pramatech.id PT Pramatech Adimitra Solusi www.pramatech.id | Endah Samiyadi (0878-9888-8009) endah.samiyadi@otiinternational.com PT OTI Transformasi Lintas International www.otiindonesia.com |