Operational Risk Management Software
Understand your organization’s risk, completely and continuously
One Solution that Connects Risk Across Your Enterprise
Risk is dynamic, so you need foresight and agility to stay ahead of it. Fusion connects information from across your enterprise into one governed model of how your business actually works, so you can see what is impacted, what happens next, what your financial exposure is, and what to prioritize.
Beyond identifying threats and preventing disruptions, you can improve compliance, save time and resources across your risk program, strengthen your customer experience, and create value for shareholders.
With Fusion’s software for risk management, you’re able to:
- Map risk relationships among all of your organization’s people, processes, places, systems, and third parties
- Gain an accurate view of risk so you can identify threats and address them before they escalate
- Automate busywork, making it easier to collect and maintain accurate information, understand dependencies, practice responses, and oversee risk across your enterprise
Connect to Any Underlying Business System with Fusion’s Platform
Get a complete, continuous view of your business services and products. Use a full set of automation tools.
Key Features of Fusion’s Operational Risk Management Software
Prioritize the business services and products that are critical to your customers.
Risk Management FAQs
Risk is the uncertainty of an outcome which can relate to either a threat (downside) or an opportunity (upside).
Risk management is a systematic process that involves identifying, assessing, and mitigating threats or uncertainties that can affect an organization.
An operational risk is the potential for financial loss within a business due to failures in internal processes, people, systems, or external events, essentially meaning the risk of loss arising from inadequate or failed internal operations, including human error, system glitches, or external disruptions like natural disasters.
Operational risk management (ORM) is a continual cyclic process that includes risk assessments, risk decision-making, and the implementation of risk-based controls, which results in acceptance, mitigation, or avoidance of risk. ORM is the oversight of operational risk, including the risk of loss resulting from inadequate or failed internal processes and systems, human factors, or external events.
No. Fusion is purpose-built for enterprise resilience and works alongside your GRC systems of record as the decision layer above them, answering what is impacted, what happens next, what the financial exposure is, and what to prioritize.
It is one capability in Fusion’s platform, sharing a single governed model of your business with business continuity, IT disaster recovery, third-party risk, and crisis management.
More than half of disruption loss comes from delay, which can amplify an event’s impact by 1.3 to 2.4 times. Reducing delay is where most avoidable loss is recovered.
Generic tools document risk; Fusion computes it, using a governed service-and-dependency model to show impact, sequence, exposure, and priorities at decision speed.
Here are some common culprits that startups should be aware of:
- Lack of product-market fit
- Competitors—both new and emerging—can eclipse a company before it’s well established
- Scaling too quickly before the company has structure in place can result in detrimental effects
- Overdependency on a founder or key player can easily threaten a young company’s survival
- Compliance oversights or infractions can have disastrous consequences for a new company
Start with identifying what you can’t afford to lose. Look at your strategic priorities as well as your targets for growth and market share, and then ask: What could threaten our goals? A technology failure? A weather event? A cyberattack?
With this list of potential scenarios:
- Assign each one a likeliness score (i.e., from 1 to 5, with 5 being the most likely).
- Create an impact score based on things like brand reputation and revenue loss, with a high score signifying the greatest predicted impact.
- Multiply those two scores to get a risk score you can use for prioritization. The highest score should be the highest priority.
A strong risk culture comes from the top. Companies led by executives who embed risk as a strategic priority typically demonstrate more resilient and mature risk cultures. Leadership has to invest in the staffing, technology, and communication necessary to continuously stay ahead of threats. Employees need to be educated, trained, and incentivized to pay attention to risk, notice any vulnerabilities, and report them immediately.
The board establishes a company’s risk tolerance and works with its C-suite to set down a risk appetite statement that aligns with strategic goals. Using key risk indicators (KRIs), the board can establish clear risk boundaries that reflect the stated risk appetite. Once all of this is in place, the board regularly reviews risk exposure to determine whether the organization is staying within its set limits.
Purpose-built risk management software enables you to include your entire enterprise in your resilience efforts, eliminating the problem of siloed efforts. By centralizing and connecting all your data and by providing up-to-the-minute monitoring as well as streamlined dashboards and reports, risk management software gives you true insight and visibility. This allows you to identify gaps and threats, understand dependencies, strategize ways to prevent and recover from disruptions, and even test your responses to ensure you’re always ready.
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Discover how much more robust your risk management tools can be with Fusion.