Sydney, Australia – July 11, 2022 – The Protecht Group, a leader in Enterprise Risk Management (ERM) software and services, announced today the launch of the Protecht.ERM Operational Resilience module, which helps organisations withstand disruption.
The purpose-built visual mapping tool, templated forms and reports, and ability to integrate with existing ERM data help organisations define, strengthen, and monitor the crucial services that their customers and communities rely on.
Operational resilience is an organisation’s overall ability to deliver important business services when disruptive change happens. It includes, but also goes beyond, the concepts of disaster recovery and business continuity.
Rather than just allowing for recovery, operational resilience focuses on prevention and robustness to minimize the likelihood of recovery being required. With a high incidence of large disruptive events expected into the future, operational resilience is the key to an organisation’s ability to survive and even thrive from these episodes.
A recent Protecht survey* of risk professionals found that nearly all surveyed (96%) believe operational resilience should be an important priority for their organisation, but under half (46%) currently rate their organisation’s operational resilience capacity as “high/very high”. Not surprisingly, more than half (56%) of survey respondents rate operational resilience as a “high/very high” priority for the next 12 months.
Protecht.ERM’s Operational Resilience module contains a purpose-built mapping tool that allows organisations to build, communicate and collaborate on a visual process map of their important business services. Its templated registers link and aggregate resources, supporting processes and scenarios to the overarching service.
The Operational Resilience module’s visual mapping of overarching services facilitates the rapid identification of risks relating to resource vulnerability, criticality, and recovery time. Its scenario plan data capture functionality allows organisations to manage scenario test activities. The reliance self-assessment report it generates delivers key metrics, components, and resilience for each of the important business services.
Protecht.ERM’s Operational Resilience module integrates with the existing ERM framework. Rather than having to redo work, users can leverage the identification and assessment work that they have already done in their ERM system. The module ensures that there is a single source of truth for ERM and operational resilience purposes, and can link to existing taxonomies and data such as risk and control self-assessments, incident management and crisis management plans.
The design of Protecht’s Operational Resilience module is informed by existing international regulatory requirements and standards (FCA Handbook, FFIEC BCM Handbook, ISO 22301) and is expected to be in line with APRA’s forthcoming policy.
“Operational resilience is relevant and important to everyone on the planet. It should form an integral part of any organisation’s risk management framework, and we believe the best solution is to incorporate the complete end-to-end operational resilience process within your ERM system”, says David Tattam, Chief Research and Content Officer, Protecht Group.
“Protecht.ERM’s Operational Resilience module provides an end-to-end solution for operational resilience in an organisation. It gives you visibility of important business services, shows you if you are resilient and which vulnerabilities you need to fix, saves you time and effort in data capture, and ensures you can meet regulatory requirements,” says Damien Stevens, Chief Product & Marketing Officer, Protecht Group.
* Global survey of 142 risk management, compliance, business continuity and other key risk professionals carried out in 2021 by The Protecht Group.
View more information about Protecht.ERM’s Operational Resilience module
Download Protecht’s Operational Resilience eBook
Register for Protecht’s Operational Resilience webinar series
Headquartered in Sydney, Australia with offices in London and Los Angeles, The Protecht Group provides complete risk solutions, including the world-class Protecht.ERM enterprise risk management platform as well as compliance, training and advisory services, to businesses, government organisations and regulators across the world.
Protecht is passionate about solving the challenge customers face in managing risks. Protecht.ERM provides a single, interconnected platform that produces a holistic view of risk while being simple and easy to use. Protecht has helped hundreds of organisations move away from spreadsheets and email to a more efficient and effective way to manage risk.
Megan Connell, Head of Marketing, Protecht Group
megan.connell@protechtgroup.com / +61 416 116 526