BOSTON, Dec 3 2021 / PRNewswire / – LogicManager, a leading provider of ERM software solutions, supports the increased need of today’s risk managers for robust technology.
CEO of LogicManager Steven minsky explains further: “The Transparent economy will continue to expose companies without sound risk management practices. Risks are magnified in all organizations when they respond to the pressures of the pandemic; regulatory changes, ransomware threats, digitization of remote work, privacy concerns, supply chain issues, HR challenges, tax changes and ESG pressures – to name a few. to a risky event can be avoided.
In its last quarterly product release, LogicManager launched numerous platform enhancements that increase efficiency and improve the efficiency of overall user programs:
- Their new Risk-based analyzer This feature uses artificial intelligence to automatically extract information from any document, such as a supplier contract, policy, or internal regulation, and then links its terms to an organization’s risks. With a single click, users can view relevant information about this document, such as data breach notification requirements or liability details, to ensure they are not taking undue risk.
- The LogicManager Content center enables users to implement controls for common risks, as well as requirements for compliance standards, frameworks and regulations quickly and easily. It comes with out-of-the-box sets of commands and requirements so users can research what they need and instantly implement it in their environment. It will also tell them if they already meet a requirement and provide insight into how other companies in their industry are mitigating similar risks.
- Customers can use LogicManager Real risk calculator to extract all the information from their suppliers and better understand the risk that a third party represents for their company. True risk takes into account not only a vendor’s external risk rating, but also their unique relationship with the organization: how critical is the vendor to performing day-to-day operations? How many employees trust this supplier? What applications does this provider have access to? LogicManager’s taxonomy technology pulls in this context to present a True Risk score that helps users design more efficient controls.
- LogicManager’s taxonomy-based AI capability also powers a new feature called One-click compliance, which presents all the relevant controls implemented by an organization and immediately links them to a compliance requirement with just one click. It also works to automatically map controls to risks, and vice versa. This dramatically eliminates duplicate work and human errors.
These new features can be used to support a large ERM program or help in more specific use cases such as supplier integration, audit planning Where Preparation of ESG disclosure. For those cases where customers are looking to streamline and strengthen an individual process, LogicManager offers solution packages which can be implemented as needed. The use cases are all intrinsically connected through LogicManager’s risk-based taxonomy, making it easy for users to make connections and design more effective mitigation strategies.
In addition to continually improving its product to facilitate intelligent risk management practices, LogicManager encourages best practices among its users through its highly regarded implementation services and free customer support. Each client is assigned a team of industry-specific consulting analysts who work with the end user to execute solutions aligned with their business needs. If a risk does eventually materialize, their Customer Success Representative is there to help minimize the impact.
LogicManager’s ability to execute is regularly recognized by third-party analysts; the recognition they have received over the past 2 years includes:
- Ranked highest for execution ability in the Challengers category in the 2021 Gartner® Magic quadrant™ for the risk management tools of IT suppliers
- Ranked highest for execution ability in the Challengers category in the 2021 Gartner® Magic Quadrant ™ for IT risk management tools
- Named “Strong Interpreter” in The Forrester wave™: Governance, risk and compliance platforms, Q3 2021
- Ranked highest overall for ability to perform on the 2020 Gartner® Magic quadrant™ for IT risk management tools
- Named “Leader” in The Forrester wave™: Governance, risk and compliance platforms, Q3 2020
- Ranked highest for execution ability in the Challengers category on the 2020 Gartner® Magic quadrant™ for the risk management tools of IT suppliers
Governance, risk and compliance professionals who want to know more can visit the LogicManager website to download these analyst reports for free.
LogicManager strongly believes that ERM software is the most effective way to anticipate what lies ahead, boost business performance and prevent liability. “Enterprise risk management helps you increase the effectiveness of your risk mitigation strategies by committing all departments in your efforts, ”says Minsky. “While new challenges may be inevitable in today’s rapidly changing world, neglect is 100% preventable with good ERM practices. By creating a time-stamped audit trail and preventing human error, you will keep your organization better protected against threats and ultimately drive success. ”
LogicManager is the market leader in enterprise risk management (ERM) solutions. LogicManager’s SaaS software enables organizations to manage tomorrow’s surprises today through risk-based solutions for each department. LogicManager is dedicated to helping companies practice good governance, ensuring not only the success of the organization, but also a positive impact on the community as a whole. For more information visit www.logicmanager.com.