Posted on: May 13, 2021
Product Marketing Team
At Fusion, we are relentlessly focused on our customers and on creating innovative technology to better serve their needs.
Today marks another exciting milestone in that journey – Fusion’s Spring 2021 release. In this blog, we detail the latest innovations to Fusion’s risk and resilience platform. These new features make Fusion’s technology even more powerful.
We’ve grouped these new features into three areas: platform, third-party risk management, and incident management. Join us at Fusion’s Solutions conference in June to hear more about these features and our newest innovations at Fusion.
Introducing a New Way of Navigating Risks and Disruption: Fusion’s Relationship Map
Visualize Connections and Impacts of Critical Business Processes and Services
Easily identify the cascading impacts and dependencies of processes and services across the organization with Fusion’s new Relationship Map. The Relationship Map empowers users to visualize how people, processes, places, systems, and third parties are interconnected to deliver critical services and products to customers.
The new Relationship Map component makes it easier to understand impacts and dependencies by providing a graphical view of other records related to a given starting point in the system. Users can select records with a single click and launch workflows, e.g. initiating a response to an incident.
The Relationship Map is designed with an eye towards operational resilience, as the industry brings a sharper focus to IT outages and vendor-related disruptions and the crucial impact they have on business services.
The Relationship Map can be used standalone or in tandem with the Visual Relationship Browser to confidently anticipate, prepare for, respond to, and learn from risks and disruption impacting the enterprise.
Third-Party Risk Management
Vendor Service Request
Better Understand Vendor Service Criticality
The new vendor service criticality workflow simplifies the process of assigning an initial criticality rating. Armed with this information, teams will be able to rapidly understand the level of diligence required or decide to “fast-track” third-party services not critical to their operations. The screening questions are configurable, and the scoring parameters behind the answers can easily be changed to meet different program needs.
Initial Due Diligence
Generate Risk Ratings To Identify and Prioritize High-Risk Vendors
The configurable initial due diligence workflow automates the process of assigning a vendor service inherent risk rating, control effectiveness rating, and residual risk rating. These ratings are then aligned with a vendor service tier (1–5), allowing you to more effectively manage continuous monitoring and collaboration.
Make Contract Review, Challenge, and Approvals a Breeze
Fusion’s simplified contract management capability allows you to initiate contract reviews, challenges, and approvals in just a few clicks.
Streamlined Onboarding, Due Diligence, and Contract Management
A simplified user experience using guided paths makes navigating the onboarding, due diligence, and contract management elements easy.
Benefit from onboarding, due diligence, and contract management details in one streamlined record that contains the entire audit trail of activity from start to finish. Gain more insights while reducing clicks and record navigation.
Reports and Dashboards
Leverage Insight and Intelligence From the Vendor Lifecycle
We’ve enhanced the packaged vendor lifecycle reports and dashboards to help teams understand a portfolio-level view of their vendor ecosystem, focus time and effort on the most critical third parties, and take targeted action when variances occur or teams fall behind.
Manage Third Parties Most Critical to Your Operations on an Ongoing Basis
The vendor record has been expanded to include all the insight and tools necessary to manage risk lingering in your ecosystem.
Improved Notification Workflows and Response Updates
Leverage the Right Response When It Matters Most
Empower crisis managers to effectively communicate with key contributors, stakeholders, and response teams in seconds while managing incidents. Through Fusion’s ENS integrations and notification connector capabilities within Incident Management, users are able to leverage critical information captured on incidents and alert key personnel all from one centralized location. Notifications are available for:
- Incident Records – Send ENS messages from the incident to keep stakeholders apprised on the latest updates
- Incident Procedures/Step Records – Send ENS messages from the incident procedures and steps to contact the assignees directly
Understand the Full Scope of an Incident
Fusion’s new Incident Builder easily enables users to identify the full scope of an incident relative to any known outages. Users select a “known impacted asset” (site, application, component, or process) and are then guided through relevant dependencies that could potentially be impacted as a result of the incident. This workflow is designed to help organizations facilitate a consistent approach to logging incidents and recognize any potentially impacted assets.
Incident Activity Log
Easily Record Incident Activity
Fusion’s new Incident Activity Log component simplifies the ability for users to log activities during an active incident or exercise. With the quick add feature, instead of going through multiple clicks to create a new activity record, users can instantly type and submit new activities with a single click through our incident management software.
These new features and enhancements will be available on May 13, 2021. Features may require additional setup and configuration. Please contact your account manager to learn more.
The Journey to Risk-Aware and Resilient Operations
Whether you are just getting started or are well into your risk and resilience transformation program, technology can be an essential tool in making your plans actionable and scalable.
Contact us to learn more about how Fusion can help you build a more resilient operation or check out our upcoming product showcase which highlights how Fusion’s purpose-built operational resilience framework can help you build a more risk-aware and resilient enterprise.
Let’s Build the Future of Resilience Together
Like never before, resilience matters. We want to hear about your experiences and learn about ideas to make Fusion even better. Shape the future of more risk-aware and resilient operations by joining the Fusion Innovator Program.
Interested or want to find out more? Please take our signup survey.