Fintech News Risk Management

AuditBoard Expands Platform With New Risk Management Solution

AuditBoard Unveils Powerful New Platform Features to Enhance Audit, Risk, and Compliance Management

AuditBoard, a leading cloud-based software platform for automating and transforming the way enterprises handle critical risk, audit, and compliance work, announced the release of AuditBoard RiskOversight, a new, integrated risk management solution. An expansion of the AuditBoard platform, RiskOversight is purpose-built to elevate and execute risk management programs across the enterprise — including risk identification, assessment, response, mitigation, and monitoring — all in a highly integrated, visual, and intuitive solution. With RiskOversight, organizations of any size now have a complete solution to effectively manage risks and increase business success.

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“AuditBoard is pleased to introduce RiskOversight, a world-class solution that will help businesses take a modern, comprehensive, and integrated approach to risk management.” – Daniel Kim, co-founder and co-CEO, AuditBoard

AuditBoard’s new RiskOversight solution addresses the industry’s most pressing issues. According to Deloitte’s Global Risk Management Survey published in 2019, 79% of professionals cite enhancing the quality, availability, and timeliness of risk data as a top priority. In addition, the same survey revealed that 66% of respondents said collaboration between business units and the risk management function is a top priority in the next two years. RiskOversight allows an entire organization — not just the risk, audit, and compliance teams — to participate in risk management programs, leveraging data and collaboration to effectively manage risks and provide combined assurance across the business.

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“From the beginning, the AuditBoard mission has been to build the ultimate Audit, Risk, and Compliance platform to enable the future of our industry,” said Daniel Kim, co-founder and co-CEO at AuditBoard. “The reality today is that enterprise risk is often managed in silos when it should be a collaborative, cross-functional effort. We’re pleased to introduce a world-class solution that will help businesses take a modern, comprehensive, and integrated approach to risk management.”

RiskOversight: A Centralized, Collaborative Approach to Risk Management

Many teams today manage risk manually through spreadsheets, disconnected survey tools, siloed point solutions, or antiquated governance, risk, and compliance (GRC) applications. These approaches can impact the completeness, timeliness, efficiency, and effectiveness of risk programs. With RiskOversight, organizations now have a modern, collaborative approach to risk management, providing them with a more effective and efficient solution. RiskOversight is connected to AuditBoard’s audit and compliance platform, which offers customers additional efficiencies, as well as combined assurance across audit, risk, and compliance teams.

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