Risk Management Software: 6 Benefits Every Manager Should Know

A myriad of risks is part of a daily operations organisations, from small to global organisations. This is because risks are an intrinsic part of a corporate landscape. These risks can range governance, compliance, financial, security, legal, and reputational as well as risks posed by natural disasters. Risk management software helps businesses measure, predict, and manage possible risks appropriately.

Risk Management Software

Risk management software helps companies to identify possible risks associated with their operations and processes, and displays them via a display dashboard. Any threat posed to an enterprise is virtually measured and monitored by such software.

As a business grows, so does risk this made it essential to incorporate risk management software into your business. Risk management integrated at various levels could be an equivalent to adding a revenue stream to a business organization. Multiple tools are combined to RMS to help manage product design and manufacturing operations. Risk management software has many benefits to a business organization below are six examples.

Benefits of risk management software

  1. Business risks are identified and classified: Risks are identified and classified accordingly with the aid of an RMS. It takes proper measures based on the detected and classified risks, to evade them by suggesting an appropriate risk management strategy.
  2. Minimize the complexities of business risks: Risk management software responds appropriately with the help of the industry’s checklist and task-based calendar and minimizes the complications of risk. The software will generate a customized approach to avoid risk based on the unique needs of a business.
  3. Automated risk reports: A user is informed of any necessary actions to be taken to prevent risk through an automated report, which provides precise data on the objectives as well as information regarding the associated risks.
  4. Accurate and relevant: It is made easy for managers to view risk in real-time because Beakon uses real-time data, results are accurate and related to the business operations.
  5. Secure data: Organization’s data is secured with password protection, thus limiting the availability. With the help of automated backups, it offers complete protection to the system. It becomes reliable without putting much effort.
  6. Real-time recording: The advent of risk management software made it far easier to record and update information related to risk compared to traditional paper-based systems or Excel where people spend hours updating risk relevant data.

Conclusion

Risk management is an important element for any organisation looking to be compliant, and have a safety culture in the workplace. Beakon offers a range of software to help safety managers do their jobs more efficiently and effectively. Take our all-in-one software for a spin with a free trial today.

Risk Assessment Software: Top Reasons Why Your Company Should Care

Beakon customized risk assessment software, we can identify, evaluate and report on risk-related concerns! Solutions peculiar to your business is provided because the software doesn’t just analyze or assess, it provides reliable solutions.

What are the benefits you should expect when you adopt a risk assessment tool? Let’s discuss the need for risk assessment and how it will save your money and time.

Need For Risk Assessment

Trust as the one thing we cannot afford to lose can protect through thoughtful assessing and addressing enterprise risk while placing a high value on corporate transparency.

It is advisable whenever you start a new project or build a new product to identify the risk much before the deployment so that you can be prepared to handle all your project issues.

Adopt Softwares And Leave Paper-based Risk Assessment!

You may ask why? And our answer to that is ‘it aids you to save your valuable time as well as reduce cost!’

You have to spend a lot of time and while wasting more money on a paper-based risk assessment.

Beside time-consuming and tiresome, manual efforts involved consulting with analysts, formulating strategies, and requesting for compliance but remember there is always the chance of human errors in manual efforts! Risk assessment can’t just avoid because – you just can’t ignore the different types of hazards and risks each workplace and industry is faced with! A reason why risk assessment software is your best chance, Beakon risk assessment software can assist in risk assessment process and provide accuracy, customized solutions and a lot more. We all love accuracy in business, don’t we?

To reduce the headache of a paper-based, time-consuming, risk assessment process, time was invested by Beakon developers to build software & tools. You will get a massive advantage over the old paper-based assessment process as these tools not only do the tasks quickly and in a customized manner but also reduce cost.

Benefits Of Using Risk Assessment Tools

Risk assessment software is your option when you want to manage, track issues and prevent recurring problems, when you launch a new product or device in the market risk analysis become important so that you can make an ethical business call on whether the launched product is safe for the market or not.

Beakon Risk Assessment software, has the solution to whatever be your industry and your end-product- our depending on the business requirements! Beakon builds software to provide solutions on energy, construction, infrastructure & a lot more. This application can identify and analyze the risk, strengthen security, manage the risk in your business and provide reliable results.

To assess security risks and vulnerabilities in systems, Beakon can develop a software that follows threat modelling methodology and find the most beneficial way to secure the applications in a project. You can decide where you need to focus your resources more with the aid of all such detailed reports.

Beakon Develops Risk Assessment Softwares Peculiar To Your Industry!

In real time businesses, one can face multiple issues and technology is there to help you tackle those problems. For instance, if you want to know the odds of recurrence of an issue and the possible consequences or what could go wrong before you launch a new product, then experts of Beakon can help you out by developing a user-friendly cutting-edge risk assessment software to help stay on track. Take our software for a spin and see how easy it is to use and deploy.

5 Tips for More Viable Risk Assessments

Consistent risk assessments are a standout amongst the most critical mainstays of any risk management division. Although performing business risk assessments is currently viewed as a best practice, it is anything but confusing to overestimate their breadth. Therefore, some risk managers are bound from the onset to achieve modest outcomes.

For a quick overview of the ampleness of your risk assessments, determine what number of the accompanying 5 best practices your program has imbued in its ERM procedure. This article explores 5 tips to ensure you conduct more viable risk assessments.

 

Tip #1 – Embrace a root-cause approach

Root-cause reveals to us why an occasion happens and is the best method to gather risk information. Utilizing the five root source classes (External, Process, Frameworks, Individuals, and Connections) will help determine the best risk relief systems.

 

Tip #2 – Institutionalize appraisal scale and criteria

The greatest obstruction to influential risk assessments is subjectivity. Subjectivity keeps assessments from being valuable over different business storehouses, notwithstanding when significant. Standard, broad scale and criteria make assessments pertinent to each office, limiting duplicative work.

 

Tip #3 – Connection risks to activity designs

Once risks have been distinguished and assessed, the subsequent stage is allotting them activity plan procedures (otherwise called controls or alleviation exercises). Regardless of whether various risks are connected to a similar moderation, formalizing this progression is the main proven method for guaranteeing exercises kill the root-cause.

Without legitimate connections, controls may relieve a manifestation instead of the source, and transform into frame over-substance activities. Likewise, it is difficult to assess the viability of control without knowing the risk that the controls are overseeing.

 

Tip #4 – Interface risks to key objectives

Recognizing your association’s most critical goals is a complicated yet vital aspect of risk management; it is hard to guarantee significant objective accomplishment on the off chance that you do not realize what the risks are at the operational level.

Recognizing your association’s most critical necessary objectives is a backhanded yet essential aspect in risk management; it is hard to guarantee vital objective accomplishment if you don’t realize what the risks are at the operational level. In the wake of recognizing your most basic key objectives, connecting them to the root-cause risks from Step #2 will empower you to distinguish and organize vulnerabilities and assemble the business case for inspiring assets to address these vulnerabilities.

 

Tip #5 – Install ERM in regular exercises

Basically, risk ought to be an aspect of everybody’s responsibilities duty. You should start incorporating a risk-based methodology, or enterprise risk management (ERM), into everybody’s daily exercises starting with your region. All surprises in business are awful, from minor surprises like missing a due date to real surprises like review discoveries, spending plan over-runs or administrative investigation.

 

In conclusion

Software can help you do so much more. We specifically created our all-in-one software to enable risk managers to do their jobs more efficiently.

From contractor/employee management to issuing permit-to-works, even to incident reporting and injury management, our software has everything you need to succeed. You can get started today for FREE by taking advantage of our free trial. There are strings attached, and you can cancel anytime.

 

5 Tips to Conduct a Better Risk Assessment for Your Organisation

The orderly administration of risks not just causes your employees to be more secure and healthier; it also helps their profitability. Risk assessments are extraordinary compared to other devices businesses have for protecting their employees. A risk assessment is a well-ordered process that distinguishes potential dangers in the workplace.

The Work Health and Safety Act 2011 (WHS) necessitates that businesses distinguish and eliminate risks “so far as is reasonably practicable.” Even if your organization has already directed a risk assessment, it is wise to survey and refresh these frequently. All things considered, forms, hardware, industry standards, and employees change. Operating in line with current prescribed procedures will prevent injuries and advance a culture of safety in your workplace.

 

The following tips can assist you in conducting a superior risk assessment for your business.

 

  1. Distinguish the Risks

Dangers fluctuate incredibly from business to business. The risks inherent in office work are altogether different from the hazards looked by machinists or factory workers. Therefore, it is vital to assess the dangers faced by all employees in your one of a kind workplace.

“Hazards” and “risks” are extraordinary. A hazard is “something with the possibility to cause hurt.” Dangers may include dangerous advances, entryways nearby too rapidly and too forcefully, or water that runs unexpectedly hot. A risk is “the probability of that potential damage being figured it out.” How likely is it that someone could slip on the means or have their fingers pummeled in the entryway?

There are a few different ways you can distinguish hazards. As a minimum, lead a site walkthrough and connect with employees with studies and criticism demands. Ensure you classify risks according to their tendency, whether they are physical, mental, compound or natural.

 

  1. Recognize Potential Casualties

Once you have recognized dangers, consider who in the workplace might be hurt. Examples include full-time employees, part-time employees, contractors, suppliers, visitors, clients and even members of the public – any person who interacts with your site is powerless to risks.

When potential casualties have been recognised for each risk, you can begin to address them deliberately. In some cases, you may need to look at internal measures like employee training. For others cases, when your potential casualties are outer partners like clients and contractors, your risk administration should seek to elective techniques.

 

  1. Minimize Risks

With the hazards and potential casualties distinguished, it is time to make a move. Hazards can be managed in two different ways: evacuate them, or control them to minimize the probability of injury.

In any case, a simplistic solution that evacuates all risk will not be suitable for all circumstances. Guarantee you classify risk levels and execute solutions that accomplish a “low” risk rating.

 

  1. Report Everything

Most businesses are legitimately required to record the findings of their risk assessment. Lawfulness aside, documenting your results will be useful in a few different ways. It gives an enduring report of risk assessment and control, which can manage your risk minimisation later on. Using a template or computerized checklist will assist you with creating a professional and exhaustive risk assessment that can be quickly refreshed and looked into.

 

  1. Consistently Audit

As we have said beforehand, very few workplaces remain the same after a year. Therefore, it is vital to survey and refresh your risk assessment process all the time. A simple audit will solve that problem.

Make your risk assessments easy and powerful by using versatile health and safety software from Beacon. We offer a free, no-strings-attached trial that you can take advantage of and use to see the power of using technology in your company’s safety program.

4 Risk Management Checklists Every Safety Manager Should Know

Risk management is a powerful instrument used for distinguishing and limiting hazards that exist in the working environment. Once recognised, a portion of these hazards can be eliminated. Others can be controlled somewhat while giving you expanded command over risks that post dangers to your employees.

When managed appropriately, this checklist can turn into a rule for your organisation as it achieves compliance; decreases work environment stress and hazards and expand in efficiency and productivity. Contingent upon your industry and type of business, you may need to make changes to these things. With that said, let us start with the checklists.

 

Checklists#1 – Identification of Risks

The initial phase of risk management is to recognise the hazards that should be controlled. This ought to incorporate the circumstances, areas and physical things that could make hurt individuals – whether those individuals are your clients, your specialists or guests.

Common risks that might be uncovered include items in the physical work environment, equipment, chemicals, or other structural issues. Do not limit your search to the questions you can physically see, however. Things like excessive noise, fumes and high or low temperatures can also create unsafe working conditions.

One of the best and simplest ways to recognise hazards is to ask the majority of your employees. They work intimately with hardware and apparatus that you may never contact. They know a lot about their environment, and their info is vital concerning risk management.

 

Checklists#2 – Assessing Identified Risks

When you have identified potential hazards, it is an excellent opportunity to assess every one of them. You will have to decide how serious each risk is and whether you have any current control estimates that could be compelling in limiting or eliminating it.

With this data, you can figure out what move you should make to control the risk. Now you can likewise organise the work in front of you. Which risks request the is most urgent? Which ones can hold up a while?

 

Checklists#3 – Taking Control of the Risks

Keep in mind that the best control measures are those that eliminate risks. If it is not conceivable to dispose of them, limit them to its barest conceivable state. Be imaginative as you look for methods by which to eliminate or reduce risks. Now and again, a single control may not be as viable as a mix of various restrictions that cooperate to limit the risk. As you survey your list, you will see that a few risks are quite easy to control and therefore can be managed immediately. Others may take time with arranging, conceptualising and strategising.

Remember that risk management is anything but a one-time assignment. Employees change, your working environment changes and you get new gear and innovation over the long haul. Along these lines, risk management ought to be a continuous venture. Numerous Australian organisations find that they can keep up successful risk management by booking appraisals all the time to refresh any new risks and assess their advancement.

 

Checklists#4 – Tackling Risk Management

With your endeavours devoured continuously to the management of your business, risk management can appear to be a weight that is more inconvenience than its worth. In all actuality, nonetheless, that lessening your risk will spare you time and cash later on when you don’t need to manage mishaps and mischief to your profitable employees.

If the possibility of risk management feels difficult, get some assistance. Our OHS programming makes risk management considerably less demanding, providing you with thorough risk management checklists, compliance-prepared standard procedures and easy correspondence between colleagues. There is no compelling reason to reinvent the wheel. You can utilise our checklist to deal with your risk, wellbeing and security commitments.

Get a free trial of our software to see the benefits firsthand, and get in touch with us if you have any further inquiries.

4 Big Reasons Why Manufacturing Companies Should Enhance Operational Risk Management

There are distinctive sorts of risks, even though many are intertwined: financial risks, reputational risks, operational risks, store network or outsider risks, consistency/ legal risks, and others. Numerous individuals see operational risks through the perspective of security management: improving specialist and process wellbeing prompts more gainful tasks while the alleviation of operational risks – made by inappropriately maintained (or malfunctioning) gear or by the nearness of work environment dangers – diminishes injuries and ailments.

For manufacturers, it is essential to see the link amongst security and operational risk management. In any case, the method of reasoning for improving operational risk management goes past well-being. There are a few compelling motivations to enhance operational risk management. We share four of the essential ones in this post, which are supported by Aberdeen survey results.

1) Accomplish Financial Objectives

Numerous manufacturers see the connection between mitigating operational risks and improving profitability. In any case, Best-in-Class associations have the foreknowledge to go above and beyond and furthermore observe the link with financial execution. According to an Aberdeen overview, 52% of respondents said they have to decrease the effect of operational risks on business objectives. Furthermore, 42% of Best-in-Class organisations adjust operational information to financial information to comprehend the economic impact of unfavourable occasions.

2) Increase and Enhance Coordinated effort

The fruitful accomplishment of financial objectives speaks to a hard, quantifiable advantage. Implementing an operational risk management framework likewise brings its advantages, for example, increased participation and coordinated effort. According to a similar Aberdeen review, 47% of respondents recognise viable cooperation crosswise over practical divisions as a necessity to execute an operational risk management system, which prompts the joint management of risks. The execution of a functional risk management system gives the incentive and impetus to associations to likewise enhance cross-utilitarian joint effort.

3) Institutionalize Risk Appraisal

Best-in-Class manufacturing associations comprehend that the fruitful moderation of operational risks improves the probability that corporate targets will be met. To effectively relieve operational risks, similar strategies, techniques, and risk evaluation approach must be connected to the organisation. By improving operational risk management, the Best-in-Class accomplish more noteworthy institutionalisation in risk appraisals and somewhere else. 54% of Best-in-Class manufacturers have traditional risk evaluation forms over the undertaking. That figure is 36% for every other producer, meaning the Best-in-Class are 50% more inclined to institutionalise risk evaluation forms.

4) Manufacture a Culture of Risk Mindfulness

In the Aberdeen overview, 41% of manufacturers said they have to construct a risk mindfulness culture all through the association. By improving operational risk management, organisations establish the following frameworks that prompt risk mindfulness:

  1. Increased and enhanced the joint effort
  2. The institutionalisation of risk evaluations

Through a culture of risk mindfulness, manufacturers set up more prominence into operational risks and control measures, and integrate a risk mindset in day-to-day assignments, in this way additionally reducing operational risks and their effects on corporate and financial goals.

Beakon software can enable you to have a bird’s eye view of your entire safety management program. Take advantage of a free trial today and start enjoying the benefits of using software to fast track your incident reporting, injury management, issuing permits to work et al.

Top Reasons Why You Need To Link Incident and Risk Management Together

It does not make a difference what industry your organisation operates. There are a few advantages of connecting an incident database to a risk register. In this post, we feature the benefit of combining the two incidents and risks and the experiences that such an association can bring.

Incident Management and Risk Management

Successful companies utilise incident management software to catch and report incidents and unfriendly occasions. Incidents include near misses, and also, mishaps that brought about fatalities, wounds, ailments or property harm. A few companies additionally empower their workers to report incidents remotely and in the field through a mobile application.

Another reasonable step many successful companies leverage is the use of risk management software to enhance the way toward recognising, surveying, relieving and observing all risks all through the venture. Risk programming is more powerful than spreadsheets to keep up and refresh a risk register that incorporates all risks and controls.

Advantages of Connecting Both Risk and Incident Management Together

While there are individual benefits related to combining both incident and risk management software, yet there are significantly more prominent advantages when both of them are connected. More specifically, four kinds of significant insights can be accessed through this connection. These are:

1) Incidents help to recognise already obscure risks. Each time an incident happens, you should check whether a comparing risk was already distinguished. If not, at that point the new risk ought to be investigated and assessed. If there are numerous comparative incidents, it might demonstrate a pattern is indicating a noteworthy risk.

2) Incidents (in)validate the probability of risk. As a significant aspect of a risk assessment, you have decided the likelihood of an unfriendly occasion. Since an incident is a risk that has emerged, the number of incidents can enable you to check if the possibility you have built up is as yet substantial, or if it should be refreshed.

3) Incidents (in)validate the seriousness of risk. As a feature of a risk assessment, you have additionally decided the severity of the effects of an antagonistic situation. The results of an incident compared to a particular risk can enable you to confirm if the seriousness level you have built up is even substantial, or if it should be refreshed on the off chance that it was overestimated or disparaged.

4) Incidents help to assess the adequacy of controls. By a wide margin, the most critical advantage of connecting incidents and risks is the way it can determine the viability of controls. On the off chance that there are numerous antagonistic occasions of a similar sort related to a particular risk, it might show that the control isn’t compelling. The invert is likewise valid. For instance, if 3-5 unfavourable occasions were ordinary every year for a particular risk, yet “just” one happened, it might show that the control is more viable than initially thought.

The four things above ought not to occur in separation. For instance, numbers #2, #3 and #4 will cooperate. The adequacy of control will be assessed by considering any progressions to the probability and seriousness of the effects of an unfriendly occasion. Changes to the remaining risk may likewise evaluate the adequacy of the control.

Conclusion

One major takeaway from this article is the need to create a way for both incidents and risks to be fully integrated into one robust EHS Management software that works seamlessly together. This guarantees a consistent trade of information between various applications and capacities, including information on incidents, risks, and controls.

Luckily, Beakon’s all-in-one software has this capability. You can take advantage of a free trial today. Try our software free, and we are sure the ease of use and fantastic interface will make keep using it for your safety management needs.

 

6 Stages to Empower an Operational Risk Management Program

Manufacturers are known to have established different safety measures that have demonstrated great accomplishment in lessening work-related incidents over the years. In any case, reducing manufacturing risks is not enough to mitigate operational dangers. This article explores six crucial stages to empower a thorough, institutionalised functional risk management program:

Stage 1: Build up Possibility Arrangements and Heightening Methodology

Risk management is a continuous procedure for the duration of the life of a producer. As a piece of recording and forestalling risk, decreasing the likelihood of unfriendly occasions requires setting an alternate course of action that is built up through organisation approach and incorporates a progression of activities or acceleration strategies if any incident happens.

Stage 2: Institutionalize Risk Evaluation over the Undertaking

Manufacturers must characterise their penchant for risk in a way that records for workforce security, resource management, ecological effect, and business suggestions. To some degree, risk evaluation is emotional given the individual perspectives of an occasion. Setting up a strategy that expels this inclination will enable the whole association to comprehend the seriousness of risk levels.

Stage 3: Adjust Innovation That Accommodates Your Company Culture and Procedures

Add arrangements that are anything but trying to utilise and incorporate with your present procedure. Remember that any new method will require preparing, which ought to be viewed as an essential piece of the combination. Utilize reproduction to decrease blunders and empower usefulness that fits with the current procedure.

Stage 4: Adjust Operational Information to Financial Information

Comprehend the monetary effects of unfriendly occasions by adjusting operational and money related information. What matters for a manufacturing company is to stay productive, which implies understanding the financial impact of different situations. With this comprehension of the operational connect to money related effect, makers can get ready and ideally keep the economic harm of an unfriendly occasion.

Stage 5: Completely Focus on the Procedure

This progression is vital if you need your methodology to be a long haul. A fruitful usage of a viable operational risk management program requires buy-in from top management directly down to partners.

Stage 6: Keep Everybody In agreement

Keeping everybody in your association on top of it is critical. Correspondence crosswise over Research and development gatherings, outsider sellers, and assembling will guarantee achievement.

Conclusion

You can use Beakon’s safety management software to manage every aspect of your organisation safety program. Take advantage of a free trial to get started today, and start enjoying the benefits of using software to manage your company’s safety management programs.

Risk Register Systems: Everything Project Managers Need To Know

Project managers are accustomed to facing risks whenever they undertake a new project. It is their job, however, to find ways to mitigate these risks. For project managers to tackle these situations effectively, they use risk management processes and frameworks. One of the most essential components of a risk management framework is the risk register.

What is a Risk Register System?

A risk register system also referred to as a risk log, can be used to track and deal with issues as they arise in real-time. Project managers create risk register systems at the early stage of a new project to help them identify, assess, and manage risks down to an acceptable level through a review and update process.

How does a Risk Register System work?

As we have described above, the risk register is a logbook used to identify, access and manage risks. It is a part of several risk assessment tools, and the way it works is not complicated. Its purpose is to record every detail of all the risks associated with a project along with the risks identified, the analysis of those risks and proposed plans to mitigate those risks.

Project managers can view the risk management database as a management tool for monitoring the risky aspects of any project within the risk management framework. The project manager is also responsible for ensuring that the risk register is updated as often as necessary.

List of Risk Management Processes

You can expect several risk management processes in a risk register. As a matter of fact, the risks that are recorded in the risk log are the driving factor for these risk management processes as specified in the PMBOK Guide.

Perform Qualitative Risk Analysis Process

This is the process of prioritising risks for additional analysis or action. This is done by estimating the probability of the risk occurring and its likely impact. One of the benefits of this process is that it helps project managers reduce the level of uncertainty in their projects and only focus on high-priority risks.

Perform Quantitative Risk Analysis Process

This process, on the other hand, focuses on analysing the effect of the risks identified in the objectives of your project. While there are several benefits to this process, the most important one is that it produces quantitative risk information that helps in making better decisions. This enables project managers to reduce project uncertainty in their projects.

Plan Risk Response Process

This is the process of enhancing opportunities while reducing threats to project objectives. One of the benefits of this process is that it tackles risks based on priority, thus inserting resources and activities into the overall budget.

Monitor and Control Risk Process

This is the process of executing risk response plans, tracking the risks identified, monitoring all residual risks, and determining new risks. Also, this process helps with evaluating the risk management’s effectiveness across the entire project.

Conclusion

One of the best things project managers can look forward to when it comes to managing their project risks is the ability to use technology. First, technology can be used for the entire risk management process. Beakon’s risk management software, risk assessment tools and risk register system are all part of an all-in-one system that helps top companies remain safe and efficient. Grab a free trial today.

 

 

 

 

 

 

 

 

Risk Management Software: What It Is and Why Your Business Needs One Today

One of the most critical factors in running a successful business is to have good decision-making skills. Making good decisions require a proper assessment of the risks and opportunities involved in any matter being deliberated on.

While there are several decision-making frameworks available, the best way to analyse every aspect of your business before making any important decision is to use risk management software. In this article, we look what the definition of risk management software and how it will benefit your company.

 

What Is Risk Management Software?

Risk management software is a vital part of business growth. It is an enterprise software used by organisations to help them identify, manage, and reduce all the different aspects of risks their business may face.

The software does this by using its risk assessment tools to process existing data and projections in order to identify potential risks the company may face. The results of the assessment can be found in the reports, and it contains a detailed analysis that helps company executives with decision-making.

 

Benefits of Risk Management Software

The advantages of such a critical piece of software cannot be overstated. If you are not currently using software to manage your company’s decision-making process, then this section will help you think twice.

Some of the benefits of using a risk assessment and management software for your company are:

  • It helps in recognising and classifying the possible risks: we have talked quite a bit about this already because it is what makes the software so unique. The software first identifies the risks involved after running an assessment and then it classifies them based on predefined parameters. Next, the software takes the generated report and analyses the results to suggest a suitable strategy.
  • Helps with managing your projects: We know how much hard work goes into achieving project goals. Delegation is an essential aspect of this and this risk management software by doing that effectively. By using this software, project managers can easily delegate tasks that have been assessed for risks along with the relevant recommendations to various departments of the organisation.
  • The software provides you with clear and consistent communication: Another obvious benefit is the ability to get accurate information from the reports consistently. Based on predetermined parameters that have been stored in the risk management software, the results of the risk assessment tool provides are consistent. Also, the software offers a centralised risk register that allows various departments to communicate with each other about the projects they are working on.
  • The software provides you with automated risk reports: Probably one of the most overlooked benefits. The in-depth reports that Beakon’s risk management software offers are accurate and automatic. These reports offer proper data on the organisation’s objectives and the related risks along with the necessary steps to take to mitigate those risks.

It is true that can still technically perform risk management manually. However, it would serve you better to invest in software. Risk management software helps you make complex decisions more effectively, get a good grip on possible risks and accurate results on how to prevent it. If you are looking for how to get started with risk management software, taking advantage of our free trial is the best way to go.