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Establish a central process for managing the complete
life cycle of risk management in your company

Laser Risk Management System (LERMS®)

Risks can threaten an entire organization, not just a business unit or process. With an increasing concern and focus on risk management, especially to effectively identify, assess, and manage risk, organizations need a transparent enterprise risk management (ERM) system in place.

The Laser Risk Management System (LERMS®) delivers a central risk management system for identifying risks, evaluating their likelihood and impact, relating them to mitigating controls and tracking their resolution. It establishes a culture of risk management across your organization and helps you achieve future goals by avoiding surprises along the way.

Dashboard

Get high level information such as Top 10 Risks, Function-wise Average Risk Score and Category-wise Average Risk Score to help you monitor your risk appetite.

Survey Tool

Create custom risk surveys to get opinions on Risk Likelihood and Risk Impact from actual risk owners. Calculate average risk score for each risk as voted by all stake holders in the survey. Sort risks on average risk score from ‘Higher to Lower’ or ‘Lower to Higher’ and export it to excel.

Workflow

An in-built workflow to approve creation and modification of risk registers and risk mitigation plan.

Risk Register

Create and record strategic and operational risk across all aspects of your activities. Edit, Filter and close risk registers. Risks inside registers are automatically color-coded as red, amber, yellow or green as per the risk categories. Risk scores automatically calculated based on Likelihood and Impact. Capture detailed information such as time frame, cost to organization, category, sub-category, impact, etc.

Risk Details

Capture detailed risk information such as risk owner, team members, risk contributing factors, noted incidents, Risk Mitigation Start Date and End Date, financial impact on risk, etc. for each recorded risk in risk register. Risk is automatically plotted on Risk Matrix.

Controls

Add key controls for a risk, its effectiveness and last assurance and assured by dates.

Risk Mitigation Action Plan

Create a Risk Mitigation Action Plan to mitigate risks. Add activities that need to be accomplished for risk mitigation, assign owners and deadlines. Create multi-level activities to create a detailed action plan and track completion status of each activity. Get automatic updates current risk rating for a risk based on completion of mitigation plan activity.

Reminders and Escalation

Sends reminders to activity owners on pending activities related to mitigation plan. Automatically escalates activities that have missed deadlines. Offers complete control to customize the frequency of reminders and escalations.

Reports

Generate professional, ready-for-presentation, well-formatted reports on the fly. Generate reports such as – Risk Mitigation Effectiveness, percentage Completion of Risk Mitigation Plan, company-wise Top 10 Reports, Risk and Mitigation Plan Status, Register Update Status, Year-On-Year (YoY) Risk Category and Risk Rating Comparison, Function-wise Risk Rating Comparison, Comparative Risk Profile in %, etc.

Total control over Masters

The LERMS® Administrator has complete control to configure the Masters completely as per individual organization requirement. Create and manage masters such as Users, SBU, Location and Department.

Get high level information such as Top 10 Risks, Function-wise Average Risk Score and Category-wise Average Risk Score to help you monitor your risk appetite.

Create custom risk surveys to get opinions on Risk Likelihood and Risk Impact from actual risk owners. Calculate average risk score for each risk as voted by all stake holders in the survey. Sort risks on average risk score from ‘Higher to Lower’ or ‘Lower to Higher’ and export it to excel.

An in-built workflow to approve creation and modification of risk registers and risk mitigation plan.

Create and record strategic and operational risk across all aspects of your activities. Edit, Filter and close risk registers. Risks inside registers are automatically color-coded as red, amber, yellow or green as per the risk categories. Risk scores automatically calculated based on Likelihood and Impact. Capture detailed information such as time frame, cost to organization, category, sub-category, impact, etc.

Capture detailed risk information such as risk owner, team members, risk contributing factors, noted incidents, Risk Mitigation Start Date and End Date, financial impact on risk, etc. for each recorded risk in risk register. Risk is automatically plotted on Risk Matrix.

Add key controls for a risk, its effectiveness and last assurance and assured by dates.

Create a Risk Mitigation Action Plan to mitigate risks. Add activities that need to be accomplished for risk mitigation, assign owners and deadlines. Create multi-level activities to create a detailed action plan and track completion status of each activity. Get automatic updates current risk rating for a risk based on completion of mitigation plan activity.

Sends reminders to activity owners on pending activities related to mitigation plan. Automatically escalates activities that have missed deadlines. Offers complete control to customize the frequency of reminders and escalations.

Generate professional, ready-for-presentation, well-formatted reports on the fly. Generate reports such as – Risk Mitigation Effectiveness, percentage Completion of Risk Mitigation Plan, company-wise Top 10 Reports, Risk and Mitigation Plan Status, Register Update Status, Year-On-Year (YoY) Risk Category and Risk Rating Comparison, Function-wise Risk Rating Comparison, Comparative Risk Profile in %, etc.

The LERMS® Administrator has complete control to configure the Masters completely as per individual organization requirement. Create and manage masters such as Users, SBU, Location and Department.

Benefits

  • A simple and easy-to-use platform that provides centralized access to all risk-related information and allows risks to be managed efficiently
  • Increase Risk Mitigation Effectiveness: identify, assess and mitigate key risks facing your company
  • Get real time updates on Risk Mitigation Effectiveness status
  • Accurately measure the size and importance of all risks in your organization
  • Prioritize treatment for risks demanding urgent attention

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