Integrated Risk Management (IRM) defines the tools and processes that organizations leverage to obtain a holistic view of their risk exposure. It plays a critical role in helping achieve operational resilience.
The risk practices of yesterday are inadequate for the businesses of today. As operations become increasingly global and the pressures of proactive risk management are mounting from both a formal regulatory as well as an informal reputation stand- point manual efforts or a robust insurance policy are insufficient. Comprehensive workflows and policies supported by Digital technology must be put in place so risk professionals can make the right decisions at the right times.
External operational risks, such as natural and man made hazards are not only some of the most devastating risks but also some of the most difficult to manage. The two industry leading solutions that address these risks are DisasterAware Enterprise (DAE) and Everbridge’s Virtual Command Center (VCC). Both offer critical insights that support business continuity programs, however, whereas VCC has to be bundled with other Everbridge products as part of its Critical Event Management platform, DAE is an open solution that can be integrated into existing risk management frameworks.