Manage risk, not spreadsheets
Risk and reward go hand in hand, whether in sports or business. But there is a big difference between extreme sports and business. While some relish risk and seek it out, smart companies take considered steps to minimize and control risk in their business environment.
Unfortunately, risk can’t always be eliminated entirely. While the best process management and process mapping initiatives can capture and support excellent business processes, even in these environments a significant number of process executions will ‘leave the rails’ and end up exposing potential losses, breakdowns or poor customer experiences.
Risk management addresses these circumstances, recognizing where the breakdowns could occur and documenting them, then establishing checks and balances that reduce the exposure to potentially costly issues.
Risk management also involves automating processes, ensuring repeatable execution and avoiding “off the rails” one-offs and data errors that could lead to catastrophic consequences.
Managing risks like this is a significant part of compliance for a number of organizations. Standards like ISO require a careful adherence to risk management methodologies that protect the organization, and by extension, its customers, from catastrophic breakdowns.
Business risk is a process problem.
A world-class process management solution
The risk and compliance add-on from Nintex Process Manager takes this focus and successfully integrates it into the world-class process management platform that teams know and love. It’s this essential connection with core business processes that makes risk management more effective and efficient.
Successful risk management relies on ongoing risk awareness across the whole organization.
By incorporating risk and compliance requirements directly within business processes, Process Manager ensures that risk management is an everyday activity, rather than a last-minute audit consideration. The link between key processes and risk owners ensures that the right people are both aware of their responsibilities and informed when changes occur – in real-time.
This integration provides dynamic benefits. User dashboards update process and risk managers when developments occur, giving opportunities to sign off controls with ease, while still providing comprehensive visibility. When roles and responsibilities change, those changes flow through to the processes, risks, and controls. Escalations and treatment signoffs are automated, making sure that all the stakeholders are kept up to date with ease.
Process Manager’s risk and compliance add-on supports ISO compliance, including ISO 9001:2015 and ISO 31000:2009 which ensures the regular and required audits are no longer a point of stress for teams. With clear reporting and accountability built in, organizations can simply and effectively manage risk hand-in-hand with their processes.
Nintex Process Manager has been helping customers manage risk and compliance for many years. Here are some of our customer testimonials:
Capital Group: “Our adoption of Nintex Process Manager has driven better insights for the business in terms of big picture. With over 4,000 processes documented it gives us a sense of operational health and risk based on the number of processes built and maintained.” Read full case study here
Christchurch City Council: “Understanding how people work and documenting and managing processes through a continuous improvement review cycle can help deliver successful outcomes. As we move towards new ways of working, process management can help underpin good work practices.” Read full case study here
Once your processes are mapped, documented, and managed, the next step is to automate them, further mitigating business risk. Process automation ensures consistent compliance, predictable process results, accurate data, and timely customer responses. It can consist of:
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- Forms automation: digitalizing the form completion and submission process
- Workflow automation: streamlining the progression of human- and system-centric steps and approvals
- Task automation: robotic completion of computer UI tasks or system-to-system tasks
- Document automation: automatically processing received documents, or generating and sending new documents.
Effectively dealing with risk and compliance consists of both managing and automating your business processes organization wide. It all starts with Process Manager.
See Process Manager in action.
