Enterprise Risk Management (ERM) Product

A modern ERM program needs to translate strategic, operational, cyber, financial, and compliance risk into one coherent picture, not five different spreadsheets. SmartSuite's Enterprise Risk Management solution provides a consistent, enterprise-wide framework for identifying, assessing, and managing risk across every domain, with risk appetite, ownership, and response workflows aligned across business units.
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Key highlights

• Centralized Risk Lifecycle Management: Manage identification, evaluation, response, and monitoring inside a single risk register that spans every domain.
• Configurable Risk Assessments: Define custom scoring methodologies for inherent and residual risk while keeping consistency across business units and domains.
• Structured Risk Response Workflows: Support mitigation, acceptance, transfer, and avoidance strategies with clear ownership, approvals, and audit trails.
• Key Risk Indicator (KRI) Monitoring: Track threshold-based indicators in real time to detect emerging risks early and monitor changes in exposure.
• Connected GRC Context: Link risks to controls, KRIs, issues, audits, and other GRC data so risk posture reflects what's actually happening in the business.
• Enterprise Dashboards and Reporting: See real-time visibility into risk exposure, trends, mitigation status, and organizational risk posture for leadership and the board.
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How it works

• Risks are captured across domains, business units, and processes, creating a centralized risk register aligned to enterprise structure.
• Each risk is evaluated using configurable scoring models, with controls, issues, and other GRC data linked to support a complete assessment.
• Teams determine and implement responses such as mitigation, acceptance, transfer, or avoidance through structured workflows with defined ownership and approvals.
• KRIs and dashboards provide real-time visibility into trends, emerging risks, and areas requiring attention across the organization.
• Reporting tools provide leadership with insight into enterprise risk exposure, mitigation effectiveness, and decision-making priorities.
• Optional AI features can identify missing risks, generate scoring rationale, recommend mitigations, and run what-if scenarios, with human review retained throughout.
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ERM and risk leaders get a single, defensible view of risk across the enterprise, with the connected data and reporting depth needed to brief boards, audit committees, and regulators with confidence.