Monica Goldstein, COOToday’s sophisticated capital intensive market for risk analytics is an important, if not critical, component of risk management. “Measuring concrete risks, at a minimum, will help to establish a baseline for strategic decisions and can also help to identify department and critical business function recovery actions,” informs Monica Goldstein, COO of RecoveryPlanner. Paraphrasing Monica, the underlying risks are relatively the same regardless of an organization’s choice—cloud or non-cloud technologies. “An organization may have to deal with issues such as a provider’s transparency, performance issues, system failure, meeting SLAs and compliance/ security issues, as hardware and data residing outside of the organization’s direct control may potentially result in non-compliance with laws and/or regulations,” says Monica.
In this set up, the search for a reliable “problem solver” ends with RecoveryPlanner. With the introduction of Cloud and SaaS service providers such as RecoveryPlanner, organizations are now benefitted with a scalable and available Risk Software platform (RPX).
The veteran believes that RPX is a comprehensive solution offering all of the critical elements required for Enterprise Risk Management, including Business Continuity Management, Operational Risk Management, IT Risk Management and IT Vendor Risk Management among others. “The flexible infrastructure allows for the integration of different elements of Enterprise Risk Management within a single product,” delineates Monica.
Assessment of Threats, Documenting and Tracking Risks, and Reporting and Scheduling form the most important functionalities of the product along with it being an integrated, shared, and scalable solution. This allows for customization of industry specific templates that helps clients to utilize application frameworks specific to their industry requirements and enables clients to identify threats as they impact business lines, suppliers or vendors as well as site locations. Being web-based software the customer is also at a position to access RPX from their mobile devices.
“RPX is simple to access, navigate, and utilize by technical and non-technical people throughout the business,” assures Sherri Flynn, CISM, MBCP, Risk and BCM Professional.
RPX is simple to access, navigate, and utilize by technical and non-technical people throughout the business
The product requires no add-ons, extensions, or connectors for clients. The beauty of RPX lies in it being a highly customizable solution that can be used immediately.
RPX’s comprehensive solutions ensure documentation and agreement on approach to address risk gaps by distributing the workload and keeping the standardized format intact across the organization. The distribution of workload helps clients to improve ROI by enhancing productivity and time. “We also have consultants that can assist with industry specific guidance, the creation and management of questions or assessments, specific to an organization, and can provide remediation steps to mitigate threats,” explains Sherri.
RecoveryPlanner once conducted an assessment and analysis project for a Financial Organization in order to help them determine their existing Information Technology vulnerabilities as they related to their business operations, client vulnerabilities, and supply chain exposures and to help them develop a plan to continue operations with minimum disruption. Using RPX, the unmanaged risks of the client were identified and new policies were approved and communicated to the organizations. With the help of the software, the client could continue their auditing process and identify risk areas using RPX, a high level reporting tool.
The core strategy that has helped RecoveryPlanner to reach its current position has been focus on clients. “Awareness of customer goals and the end user perspective have allowed RPX to become and remain an industry leader,” says Monica. Sharing particulars about the plans for the near term, Monica informs, “We plan to incorporate the risk management functionality into our native Mobile App. We are also looking to take advantage of enhancement opportunities afforded to us by having the software in the AWS cloud.”