LogicManager, the leading provider of ERM software solutions, supports the modern-day risk manager’s heightened need for robust technology.
In their most recent quarterly product release, LogicManager launched numerous platform enhancements that add efficiencies and improve the effectiveness of users’ overall programs:
- Their new Risk-Based Analyser capability uses artificial intelligence to automatically extract information from any document, such as a vendor contract, internal policy or regulation, then draws connections between its terms and an organisation’s risks. With the click of a button, users can view pertinent information about that document – such as data breach notification requirements or liability details – to ensure they’re not acquiring undue risk.
- The LogicManager Content Hub allows users to implement controls for common risks and requirements for compliance standards, frameworks, and regulations quickly and easily. It houses control sets and conditions out of the box so users can search for what they need and instantly implement it into their environment. It will also tell them if they’re already meeting a requirement and provide insight into how other companies in their industry are mitigating similar risks.
- Customers can use LogicManager’s True Risk Calculator to pull in their vendor information and better understand a third party’s risk to their business. True Risk accounts for not only a vendor’s external risk rating but its unique relationship with the organisation: How critical is the vendor for carrying out daily operations? How many employees rely on this vendor? What applications does this vendor have access to? LogicManager’s taxonomy technology pulls in this context to present a True Risk score that helps users design more effective controls.
- LogicManager’s taxonomy-driven AI capability also powers a new feature called One-Click Compliance. It surfaces all relevant controls an organisation has in place and immediately links them to a compliance requirement in just one click. It also works for auto-mapping controls to risks and vice versa. This drastically eliminates duplicative work and human error.
Also Read: Who’s Buying Who: Big Deals In Cybersecurity
These new features can be utilised to support a broad ERM program or aid in more specific use cases like vendor onboarding, audit planning or ESG disclosure preparation. For instances where customers are looking to streamline and strengthen an individual process, LogicManager offers out-of-the-box solution packages that can be implemented on an as-needed basis. Use cases are inherently connected through LogicManager’s risk-based taxonomy, making it easy for users to draw connections and design more effective mitigation strategies.
On top of continually enhancing their product to facilitate smart risk management practices, LogicManager fosters best practices among their users through their highly acclaimed implementation services and complimentary customer support. Each customer is assigned a team of advisory analysts specialising in their industry who work with the end-user to execute solutions aligned with their business needs. Should a risk ultimately materialise, their Customer Success Representative can help minimise impact.
LogicManager is a firm believer that ERM software is the most effective way to anticipate what’s ahead, drive business performance and prevent liabilities. “Enterprise Risk Management helps you increase the effectiveness of your risk mitigation strategies by engaging all departments in your efforts,” says Minsky. “While new challenges may be unavoidable in today’s ever-changing world, negligence is 100 per cent avoidable with sound ERM practices. By building a time-stamped audit trail and preventing human error, you’ll keep your organisation better protected from threats and ultimately foster success.”
