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A risk defines a situation that, depending on the individual risk level, may occur with a certain probability influencing at least one target. Typical consequences include quantifiable loss, harm, danger, or any other negative event, usually resulting in a more or less serious damage (oftentimes of an economic nature). Risk triggers are usually internal or external vulnerabilities that could have been eliminated by preventive measures.
Companies and their leaders are trying to look ahead and constantly reframe their efforts towards risk mitigation.
ITONICS’ collaborative and digital software solutions help coordinate activities to manage risk areas within your corporate environment:
The Risk Radar is based on the ITONICS Radar solution and enables the collaborative identification, evaluation, and monitoring of risks, the definition of risk relationships and a dynamic radar visualization. What are the risks? Do we know them? Can or do we have to prioritize these various risks differently? How do we assess them in relation to our company or organization?
Gather millions of signals of various types such as news, patents, publications and other unstructured web reports to learn more about your identified risks. What news is there about these risks. How is the situation developing?
To reduce the risk impact, severity and probability of occurrence, you will need to define, implement, and track a set of risk mitigation strategies and (counter-) measures. What can be done about the risks? What are suitable strategies/ measures to avoid, transfer, eliminate or share the risks or reduce them to an acceptable level? How and above all when do we implement the defined strategies? How can we better prepare and protect ourselves in the future? ITONICS Roadmap is your digital tool for agile strategy planning and execution.
Be prepared and start right away to create your own platform for effective risk management in a few steps