Integrated Risk Management

Parapet provides a dedicated service and strategic solutions that help companies create a risk-aware culture to mitigate risk at the highest levels proactively. Parapet enables a systematic and structured risk management approach based on industry-specific frameworks, methodologies and best practices. All their services are designed to provide configurable and unique capabilities for their clients.

Integrated Risk Management (IRM) is a strategic process to identify, analyze, and mitigate risk. The intention behind IRM is to help provide high-level decision-makers with a more formalized approach to managing risk. Through this more formalized process, companies can identify risk early and often, allowing for a more controlled response in how they choose to address associated risks. Today, however, traditional risk management is not enough to manage the risks that permeate organizations. These increasingly more complex and nuanced risks with the proliferation and explosive growth of technology warrant a new way to target and minimize a company’s risk. At Parapet, they are addressing modern risk head-on and providing customers with a customized approach to mitigating risk.

Enterprise risk management is quickly becoming a necessity for businesses of every size. It is an excellent plan-based strategy for businesses to proactively identify and prepare for various hazards, dangers, and other issues that could jeopardize a business’s objectives and interrupt their operations. Since automation and digitization are becoming much more prevalent, numerous companies are relying on enterprise risk management software to modernize their offerings and mitigate risks.

A top management source has this to say, “At Parapet, we provide well-structured software to actively assess and mitigate your business’s risks on a daily basis. Our software can also help identify lucrative opportunities and maintain your company’s reputation by alerting you to threats long before they impact your operations.” Enterprise risk management is a must for the long-term life and health of every business.

Enterprise Risk Management software helps clients identify and set controls over the multitude of risks such organization faces each day. These risks include physical damage caused by environmental factors; cybercrime; system failure and blackouts; economic stressors; industry, sector and marketplace disruptions; compliance and governance challenges, and more

Parapet tailors its compliance management to meet the needs of clients’ enterprises. It incorporates all of the policies, procedures, and regulations with the national and international standards that oversee such industry and jurisdiction, including ISO, NIST, COBIT, NZISM, and more. Parapet will configure the software to meet the demands of each client’s enterprise. They do these by-

• Generating a data-based record of compliance activities and obligations.
• Coordinating internal and external regulations, risks, controls, policies, and procedures into a single overarching structure.
• Enabling compliance maturity throughout the enterprise by bringing all corporate elements up to the same, uniform standard.
• Automation and notification of tasks, remediation, and assurance, which will increase productivity.
• Eliminating duplicate efforts by unifying the varying compliance controls that apply across the client’s business.

Media Release on 2 September 2020

Media Contact
Hiren Desai, Parapet