For governance, risk, and compliance (GRC), the UK-based software business Riskonnect has released its Risk Bow Tie analysis function. This update broadens the scope of Riskonnect’s enterprise risk management program.
Bow Tie evaluates enterprise risk to assist clients in comprehending the origins and effects of risk as well as creating mitigation plans. Additionally, it has been developed to involve a wider audience in collaborative risk management.
To enable clients to integrate the Bow Tie analysis into their risk management programs, the addition automatically generates Bow Tie diagrams and risk correlations within the solution.
Riskonnect’s senior vice president of product management, Kathryn Carlson, commented on the announcement, saying: “Integrating Bow Tie analysis into risk management programmes is normally done manually, creating a hurdle for managers stopping them from exploiting the methodology. To assist businesses with automation, we are removing this burden.