News Facts
Supporting Quote from Michael J. Duffy, President & CEO, OpenPages
"The New Era of Risk Management is upon us, and companies are adjusting their approach to risk management accordingly. Just as we saw in the aftermath of Sarbanes-Oxley, companies that were ready to face new regulatory demands were in a much more favorable position than those who took a wait-and-see approach. The ten best practices represent activities that OpenPages customers are pursuing and serve as valuable considerations for others that are grappling with how to most effectively prepare for what’s to come."
Supporting Quote from Michael Rasmussen, President, Corporate Integrity
"To manage risk effectively in an organization requires multiple inputs and methods of modeling and analyzing risks. This requires information gathering – risk intelligence – so that the organization can have a full perspective of risk and make ‘wise’ decisions (something more than just intelligence gathered from information overload delivers). This involves taking external and internal perspectives and modeling risk in relational diagrams, decision trees, heat maps, or even quantitative models involving monte carlo or value/capital at risk simulations. As organizations improve enterprise, operational, or other risk management programs, it is important that they build this 360-degree multi-perspective risk analysis framework that allows an organization to think outside the box and look at risk from a variety of perspectives.'
Supporting Quote from Rick Steinberg, Founder and CEO of Steinberg Governance Advisors
"In today’s environment, in addition to dealing with the immediacies of a troubled economy, senior managements and boards of directors are focusing sharply on how their companies identify and manage risk – risk of all types having the potential to derail critical business initiatives. Many are now looking to strengthen their risk-based processes, expanding their scope and reach throughout the organization and ensuring effective communication to and with the board. Done right, not only are potential dangers dealt with proactively, but opportunities are identified to advance strategic objectives for enhanced growth, return and share value."
Supporting Quote from George Westerman, Research Scientist, Center for Information Systems Research, MIT Sloan School of Management and author of the book "IT Risk: Turning Business Threats Into Competitive Advantage"
"As businesses rethink their approach to risk management, many are realizing that IT Risk is a fundamental aspect of business risk. One of the three key risk management disciplines IT organizations must adopt is the risk governance process: being able to identify, prioritize and manage IT risks in language that all executives can understand. Solutions like OpenPages provide a risk governance platform that can help IT organizations instill a risk-based approach to managing their business."
OpenPages is the leading provider of integrated risk management solutions for global companies. The OpenPages Governance, Risk and Compliance (GRC) Platform empowers a risk-based approach to identify and manage key business risks across the enterprise. This approach enables companies to focus on what’s important and to avoid unexpected outcomes while improving performance. Founded in 1996, the company is headquartered in Waltham, Massachusetts, with international offices in the United Kingdom, distribution partners in Japan and South Africa and regional offices throughout North America.
For more information on OpenPages' governance, risk and compliance solutions, please click here or call us at 781.693.5999.
