Risk assessment
With our SaaS Solution you receive meaningful comparison of the overall risk position with the risk-bearing capacity as well as automated interpretation of the results
Risk Strategy and Analytics
Quantitative risk analysis
Comprehensive risk assessment for your company
With the use of our cloud-based tool on the SAP Business Technology Platform (BTP), you can conduct accurate analyses, simulations, and aggregations of your risks without any statistical knowledge. This tool is designed to cater to the specific needs of your company's risk managers.
Benefits
100 %
Easier risk analytics
The SaaS solution provides precise and automatic risk aggregation – without the need for statistical knowledge
100 %
Information yield
Benefit from a significant increase in analysed risk information and their effects on target achievement to generate meaningful decision-making support
Your path to decision-making
Our cloud-based tool offers you access to expert-guided workflows for risk assessment and aggregation
01Import data
Upload your risk data quickly and easily using the standardised data import function. You benefit from a modern and structured user interface and a high level of user-friendliness.
In the Spotlight
Risk assessment
Recommendations for action
Our add-on
Pricing
Risk Manager
- Access to all functionalities
- Scalable as required
- Increasing discounts per additional licence
from € 10,000
per user per year
Risk Owner
- Focus on risk data maintenance
- Scalable as required
- Increasing discounts per additional licence per cluster
from € 6,000
per user per year
What is risk management and why is it important?
Risk management involves the systematic identification, assessment and control of all internal and external developments and events that may have a negative impact on a company's objectives.
Effective risk management is necessary to proactively manage risks in order to achieve business objectives and meet external stakeholder requirements.
What is meant by risk aggregation?
The term risk aggregation refers to the systematic combination of individual risks into an overall risk position.
How does the Monte Carlo simulation work and what are its advantages?
Monte Carlo simulation is a simulation method that calculates the distribution of possible outcomes of the total risk exposure. It performs multiple iterations in which, for each iteration, the specific characteristics of each risk are randomly determined with respect to the underlying risk assessment parameters (probability of occurrence and impact). The Monte Carlo simulation performs several thousand runs and presents the results as a distribution of the possible outcomes of the total risk exposure by relative frequency. It represents a sound simulation technique for determining the overall risk position.
What are the IDW auditing standards relevant for corporate governance systems and to whom do they apply?
The IDW AsS 340 specifies the audit of the early risk detection system (RFS) for listed stock corporations and describes its essential elements. It applies to all companies for which auditors are required, in accordance with Section 317 (4) of the German Commercial Code (HGB) for listed stock corporations (Section 3 (2) of the German Stock Corporation Act (AktG)), to assess in the course of the audit of the annual financial statements whether the Management Board has taken the measures incumbent upon it pursuant to Section 91 (4) of the German Stock Corporation Act (AktG) ("early risk detection system") in a suitable form and whether the monitoring system to be set up in accordance therewith can fulfill its tasks.
The voluntary audit of corporate governance systems, such as the audit of the compliance management system in accordance with IDW PS 980, the risk management system in accordance with IDW PS 981, the internal control system of internal and external reporting in accordance with IDW PS 982, and the internal audit system in accordance with IDW PS 983, must be distinguished from this.