Relegen rolls out enterprise risk intelligence platform

Details: Published: Wednesday, 24 July 2019 09:01

Australia-based Relegen has announcing an expansion of its cloud and mobile-enabled platform with the roll out of riskDNA as a software as a service delivery model on Amazon Web Services (AWS).

Relegen says that riskDNA equips organizations with a best-practice platform that follows a step-by-step repeatable methodology which produces superior insight into operational risk for better decision-making. With this new cloud-based release, riskDNA offers accelerated deployments at lower cost, complexity and risk.

“Relegen’s mission from day one has been to help customers unleash the power of data by connecting information from disparate sources and gathering insights from real-world assets and operational risks in-the-field,” said Paul Bennett, Relegen’s founder and managing director. “The release of riskDNA for the cloud is another important step in our technology roadmap. It enables organizations to consolidate risk data silos, collaborate across distributed sites, and build a complete, enterprise-wide risk picture to drive better decision and action, in a highly-scalable and secure cloud environment.”

The profile of enterprise risk intelligence is growing across all industry sectors in order to satisfy increasing regulatory, compliance and board assurance requirements. Relegen says that with the release of riskDNA for the cloud, organizations can ‘move away from a reliance on coarse, rough-estimate measurement tools like the risk matrix, to a comprehensive, highly-structured and semi-quantitative approach’.

riskDNA has been purpose-built to follow a seven-step risk management framework that aligns with ISO 31000. It helps organizations ask, answer and address issues such as:

What and where are all my risks? What are the biggest risks facing our organisation?
What are their threats and consequences? What is their real impact on the business?
What are the key controls? What’s their real and quantifiable impact on the risk? Are they healthy and effective in controlling the hazard and reducing the risk? Could they be better? What data do I need to collect to ensure they are adequate?
Can we measure each risk for better understanding where we should allocate organisational resources?
What are the follow-up risk improvement actions? Can we track their status through to closure?
Can we demonstrate to regulators that we have a structured, systematic, repeatable approach to the identification, assessment, prioritisation, control and communication of risk across our business?