Strategic Thought Group, a developer of Web-based enterprise risk management software, has announced new enhancements to support operational, financial, and regulatory controls management.
The new release provides a set of advanced capabilities which address external compliance requirements, such as Sarbanes-Oxley, and internal enterprise-wide control frameworks for health and safety, IT, human resources, and quality management. It further allows the tracking and management of controls relating to operations, performance,and risk.
ARM now integrates controls related to external and internal compliance programs with a single performance-driven risk-management process. It replaces the need for inefficient and expensive specialized financial and operational controls management solutions. With ARM, financial compliance activities and reporting are consolidated as part of the wider management framework.
ARM’s re-engineered, easier-to-use interface is configurable for the needs of different user communities providing the view appropriate for each level of the organization. This gives ARM customers and their partners the ability to measure compliance statuses and issues in a simple and consistent way. ARM helps embed a ‘risk- and opportunity-aware’ culture throughout the business and increases individual accountability. ARM maps the complex relationships between elements and enables the effective management of the associated costs and business risks of failing to comply or meet the required standards by focusing on the risk/reward trade-off from an economic perspective.