Key Features

XeroRisk can be configured to suit most business risk processes, and where necessary it can be extended to suit specific business needs. Ease of use is the mantra, as without it, any business system falls into disuse and the business loses control of its risk governance.

• Flexible

  XeroRisk is designed to support all business risk management scenarios, and is consequently flexible in the configuration and functions that can be presented to its users. Support can be built in for specific requirements where these cannot be achieved through configuration.

  The product can be 'skinned' to follow your corporate style and colour schemes, including incorporating logos where necessary.

  Features within the product that are not required by the business can be switched off, making the user interface clear and concise - only use what you need for your business, without distractions.

  Model your business structure to reflect companies, divisions, departments, teams etc. This allows you to ensure risks are positioned at the best place in the corporate hierarchy to manage them without restricting the ability for risk managers to view risk at the corporate level and plan mitigation strategies.

• Risk Governance

  As businesses become more and more complex, legislation increases or regulatory pressures are brought to bear, the need to acknowledge and control risks becomes ever greater. Risks are essential, businesses cannot thrive without taking risks, but without understanding of those risks and the potential impact they bring businesses are in danger of being subject to uncontrolled costs and other damages.

  XeroRisk addresses this by ensuring that risks are controlled, and that risks that are being neglected are brought to the attention of the risk managers, business executives or local risk co-ordinators.

• Audit Trails

  Legislative changes across the globe are forcing businesses to understand and manage their risks, but if the worst comes to the worst, you need to know how your risks have been managed down to each and every change that was applied. XeroRisk incorporates an audit trail of all changes to risks or issues controlled by the system, which can either be open to inspection by everyone or closed to a few managers.

  The audit trail facility also allows, where configured, for users to create manual audit trail entries to explain the rationale behind changes applied to a risk.

• Ease of Use

  Risk capture is designed to be quick and simple, with the minimum of mandatory information to ensure correct recording and positioning of the risk within the business. This ensures that users are not diverted from their core job function whilst ensuring enthusiastic adoption of the process.

  A simple risk scoring system is used, which rates the probability of the risk occurring on a scale from 1 to 5. Likewise, financial impact is also assessed on the same 1 to 5 scale. One or more additional assessment categories can be used, although XeroRisk provides some out of the box including:

  • Health & Safety
  • Regulatory impact
  • Reputation
  • Legal Obligations

  Further categories can be added as required. A risk score is calculated as the probability rating multiplied by the highest category score, giving a maximum risk score of 25.

• Scalable

  XeroRisk is built on the most up to date industry standard components, offering performance and scalability at a low cost of ownership. Using Microsoft SQL Server technology, XeroRisk ensures that whatever the size of your business, it will be able to perform.