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It provides you with the most important part of your business continuity plan (BCP), proves accountability in your organization and most important of all, helps you reduce the chances of disasters occurring or their consequences if and when they do.
One of the difficulties with implementing internal controls is the lack of an automated software environment, even for risk managers and compliance officers who follow an internal control-based risk framework. Objective Controls gives you that automated environment - a strong framework that guides you and other users through the internal control process.
An internal control system is risk management too!
The leading internal control and risk frameworks bind internal controls to risks and objectives. Objective Controls does the same and as such turns risk management into a management control system and strategic business tool that gives managers increased control over their organization.
If you are seeking investors, business partners or buyers for your company, you can expect them to look hard at every angle of how your business is managed, perhaps with a formal due diligence examination to value your company. Proof of using a comprehensive risk management system will make your offering a lot more attractive and hence justify a higher value.
A team that manages its risks using risk management software demonstrates maturity and serious business thinking. Furthermore, if you can provide risk reports that are clear and understandable, investors can be more certain about the possible threats and chances of success.
The fact is that many disasters could have been foreseen if only someone had been looking in the right direction at the right time. And in the wake of disasters, even small ones, questions often get asked and managers sometimes pay the price with their job. Managing risk with a risk management system can avoid disaster and save your job.
How you can feel at ease when you hear 'risk management'
If you are a manager who feels uncomfortable around the term risk management, Objective Controls is just what you need; it empowers you with an easy-to-use risk management system to provide meaningful risk management reports with very little effort and without upsetting your budget.