Paul Bruggeman, MDThe need to comply with a large number of regulations, laws, and standards make enterprise risk management increasingly challenging. While a couple of years ago it was possible to track risk through Excel spreadsheet, the manual inefficiencies involved have created the need for a professional approach—the one which well-anchors risk and compliance controls in company people and processes. Enabling decisive insights and efficient adaptations to new regulations within the organization, Netherlands-based software and consulting firm, CERRIX, offers mobile-friendly enterprise risk management software—creating efficient and risk-aware organizations. “Our product is a result of close and continuous cooperation between business consultants, key clients and technicians with experience in the GRC domain,” remarks Paul Bruggeman, MD of CERRIX.
The company’s flagship CERRIX GRC (governance, risk management, and compliance) SaaS software was developed with a vision that different stakeholders will view the company’s risk from a different perspective and with a different sense of responsibility. It builds a collaboration model where the risk universe is shared by all involving entities. The software’s graphical representations of the business processes will provide insight not only into the flows but also into responsibilities, risks and compliance control measures associated with each process step. The dashboard is subdivided in a way that users can compare the current risk profile with the previous periods, the level of control based on recent tests, the ‘risk indicator’ offset against the ‘risk appetite’, as well as details on incidents and open actions. The 360-degree option ensures that the controller, management team, and auditor can all process their comments on-line, which makes it a proactive dashboard.
In CERRIX, the direct linking of risks, controls, and business processes combined with the various supporting work flows helps clients in harnessing all relevant information at a glance which can quickly filter and display clearer information based on requirements. CERRIX’s periodic risk assessments, theme-based audits, and scheduled audits also contribute to this governance. Using a deluge of new innovative technologies, CERRIX harnesses the power of their FlexForms module for building questionnaires, risk assessments, data entry forms, e-Learning and 3rd party management—enabling a continuous risk management and allows proactive sharing of data among all the people involved in risk management and benefiting the entire risk control process.
Our product is a result of close co-operation between business consultants, key clients and technicians with experience in the GRC domain
Furthermore, CERRIX can be implemented within three to six months depending on the maturity level of the risk management for any business.
One of CERRIX’s clients is a service provider for a pension fund that needed to swiftly access and disclose risk management and risk assurance reports for their customers’ outsourced personal and financial data. CERRIX not only securely delivered the management and assurance reports but also disclosed their service level and risk management data all together directly to their clients via interactive dashboards. Leveraging CERRIX’s customization capabilities, the client now offers their risk management solutions, opening up a unique selling point in their business in this age of outsourcing.
“The risk management industry is still in development, and CERRIX wishes to make a contribution to the innovation—enabling organizations to implement its risk management more effectively,” asserts Bruggeman. Keeping up with data-intensive financial and energy industries, CERRIX is focused on continuous monitoring and also working closely with consulting companies for futuristic risk management capabilities. Moreover, the firm is also innovating on a stronger linkage between the primary systems of an organization to its external data sources in order to provide faster insight on the information for better capabilities in spotting and mitigating risks. After immense success in the Netherlands, CERRIX is also planning for international expansion in the rest of Europe and the U.S. starting from 2018— changing the risk arena permanently.