Integrated Operational Risk
The Benefits of An Integrated Operational Risk and Hazard Management System
Since coming onto the scene in 1996, integrum has been a leading light in the field of risk and compliance management software. As online systems replaced paper record keeping, our team was at the forefront of digital records, continually innovating to meet the changing needs of the modern world. With increasingly globalised supply chains and the interconnectivity of the Internet age, the complexity of hazard and risk management has skyrocketed in recent years. Similarly, when you move records to an online system, the security of those records is of the utmost importance. It can be hard to ensure the security of data being used by so many parties in so many applications.
That’s why we’re so excited by the solutions we’ve put together in the integrum integrated risk and compliance system. With flexible risk matrices that reflect the ever-changing world outside, we’ve designed this software to adjust at the same rate as your company. You never know when something unexpected is going to happen and having a system that takes new incident reports or updated regulations into account right away gives your business the ability to respond quickly rather than playing catch up. What we’re most proud of though, is the integrated nature of the integrum system which combines a few crucial tools into one operational risk management system.
The Combined Hazard and Risk Management System
Why is it so important to have an integrated system? To put it simply, operational risk management is a complicated field. All kinds of different factors can affect your operational risk and hazard outlook and having everything in one system allows us to take every consideration into account. Giving you a full picture of your assets, liabilities, and reporting requirements means nothing gets missed. The automated reporting features notify the right decision makers in real time, meaning you never miss a beat. After all, the speed with which you can address a new issue has an enormous impact on your ability to offset the associated risks.
Furthermore, a single integrated system can help keep your data secure. One common way for data breaches to occur is at the level of a single user log in being compromised. The more different systems you’re using, the more opportunities you provide for hackers to get your credentials and steal data. A single system, with appropriate security checks in place, makes it less likely you’ll face a data breach.
Marine and Shipping Case Study
As an example of how much this software can do, one of our current clients is a leading Australian marine company that operates 35 vessels involved in sectors as diverse as passenger transport, marine salvage, and sand mining. With so many different applications, it’s essential that the risk analysis we apply to each vessel reflects not only things such as the age of the vessel and the crew, but the also the assigned objectives of that vessel.
The integrum system has event and workflow management features built in, and we can use the changing work schedule in this part of the system to improve risk analysis for any given vessel in the risk management section. In other words, the more information we have, the better the analysis is going to be, so combining management and governance structures gives us a better ability to predict and offset risk. Get in touch with us today to schedule a demo or find out more.
Editor’s Note: This post was originally published to the Integrum site. After the 2022 Mitratech acquisition, the content was moved to the Mitratech site.