Essential ERMProduct Overview
Essential ERM product overview
Essential ERM is a secure web-based Enterprise Risk Management system. Easy-to-use screens and innovative visual features engage business unit managers, executives, and board members. Essential ERM is an excellent catalyst to launch new ERM programs or to quickly take existing programs to the next level of maturity.
Essential ERM allows users to conduct risk assessments and analysis with built-in risk bow-tie diagrams. Model risk scenarios by linking root causes, pre and post event mitigations, risk events, and consequences. In addition, Key Risk Indicators (KRIs) in Essential ERM allows organizations to monitor their performance.
Pros of Essential ERM
- Built-in Key Risk Indicator workflow automation
- Allows for export of data into Microsoft Power BI and Tableau
- Risk Voting
Cons of Essential ERM
- Not a good fit for organizations that are looking for the traditional GRC tool
- No functionality to support Governance and Compliance related activities
Breakdown of core features
Key Risk Indicators
This workflow automation serves as an early-warning system for increasing risk exposures in parts of the business.
Risk Bow Tie
Help visualize a risk event, along with its root causes, consequences, and risk mitigations.
Risk voting is an easy and powerful way to increase executive engagement in your ERM program and generate more value from risk workshops.
Power BI Export
Export an excel file to build custom reports with Power BI or other reporting tools.
(Last updated on 02/02/2022 by Pam Van Loon)