27 Aug 2018 / BlueFabric News and Events
Customer Success Story – BlueFabric solution for a Human Capital and Risk Management Consulting Company.
Our client is a company that provides solutions for corporate governance, enterprise risk management and regulatory compliance.
Their risk management services combine trusted information from various types of risk management software and human expertise that help manage risk efficiently, prevents work accidents and mitigate financial losses.
In a time when risks are interdependent and controls are shared, our client is faced with a vast range of governance, risk and compliance initiatives that are uncoordinated, due to legacy systems and a lack of easily accessible, high-quality data needed for risk assessment and calculation. As a result, initiatives get planned and are managed in silos and this leads to a potential increase the overall business risk for an organization/ enterprise.
The most important role in the risk assessment process is the information collected, which is the foundation for risk calculation and compliance initiatives. All the documents and information collected in this phase are used to minimize, monitor, prevent and help mitigate the consequences in an effective and timely manner. In order to collect them, a dialogue between the evaluators and respondents is necessary, a dialogue that our client used to conduct offline by phone discussions, meetings and manual document/forms filings.
By introducing BlueFabric in the risk assessment process, the dialog between consultant and client becomes online, both evaluators and respondents have access to a modern and easy accessible portal that allows fast access to quality information, risk evaluation insights, interactive analysis and decision support.
The implemented solution is a hybrid that combines data inputs from a software application already used by our client and the low code functionalities of BlueFabric, hosted in IBM BPM on Cloud. BlueFabric enables easy building of our client business processes, by leveraging our process designer, UI designer, API, data model and document designers, with no dependency on human written code.
BlueFabric allows examiners to add general information about the organization that requires a risk assessment, to identify the main risk categories to be analyzed, to set the criteria and questioning for the evaluation sheets, calculate risk and generate reports.
- Platform for online ‘dialog’ between specialists and respondents
- Portal that allows interactive analysis through web questioning forms and upload of supporting documents
Implementing AGYS’s BlueFabric™ solution, our client improved the overall project turnaround time, including risk assessment and recommendation phases, by 70% which is transposed into an improved productivity and greater returns of the investments.
- Fast access to high quality information and documents for both evaluators and respondents
- Leveraged User Experience through a modern online platform
- Optimization of assessment process
- Improved productivity – overall project turn-around time, including risk assessment and recommendation phases, by 70%
- Optimization and speed up assessment turnaround time through automation of volume back office processes
- Gained ability to monitor the process in real-time
- All risks are acknowledged in a timely manner
- Corresponding expenses (predictable as well as unpredictable ones) will be better assessed, managed and reduced.
Are you also in the Risk Management business ? See how you can boost you business’s efficiency with BlueFabric.