Extended Risk Visualization features within ARM X support Risk Management across the Enterprise and out to the Supply Chain
Maidenhead, UK. 15 December 2017 – Sword Active Risk, a supplier of specialist risk management software and services, has announced the general availability of Active Risk Manager 10 (ARM X), the latest version of its flagship product. An update to the underlying technology continues to support ARM’s Mobile First and cross-platform strategies, ensuring that ARM X can be used on a wide range of desktop and handheld devices. ARM X introduces features that facilitate a single view of risk across the enterprise by providing greater collaborative working and improving cross-functional and business alignment. ARM X includes new and significantly upgraded modules such as Risk Visualizer, Bowtie Analytics, Impact Only and Weighted scoring, and a more powerful version of ARM Risk Express.
Keith Ricketts, VP of Marketing at Sword Active Risk commented; “ARM X delivers on our stated Mobile First and Cross-Platform strategies, meaning that ARM can be used by an increasingly broad spectrum of end-users across the business. By refreshing our underlying technology platform, we are able to deliver a faster and leaner product, that is ready for the future. Clever visualization technology helps to provide a clear, consolidated view of risk, enabling organizations to deal with critical situations more efficiently. When a single view of risk is employed enterprise-wide, risk management becomes a source for significant competitive advantage for enlightened organizations.”
ARM Visualizer supports the drive for greater visual insight, promotes communication of risk, and closer collaboration across the business. It is an editable diagrammatic tool that sits within ARM that can be used to create and define risks and their various elements. Risk Visualizer can be used by groups that are working together in a workshop environment identifying risks and then used to communicate the findings to key stakeholders and for further analysis.
ARM BOWTie is a new module designed to create, view, and analyse risk data focusing on causes and consequences and the controls associated with them. Users are able to create elements within a BOWTie diagram, aggregate, link, alert, filter, and report on ARM BOWTie risks alongside other risk elements within ARM. ARM BOWTie helps to communicate risk and risk relationships to stakeholders and helps to increase resilience by defining and monitoring risk causes and consequences, leading to better preventative and recovery controls.
Also available for use with ARM X, ARM SNAPPit, which is available for download from the apps stores (iOS, Android, and Windows), enables business users to record details of incidents, accidents, hazards, concerns, and observations on the spot. It updates ARM in real-time so that investigations or other appropriate follow up actions can start immediately to prevent further harm. It typically replaces paper-based, less secure, and manual methods of recording and reporting incidents, including the use of personal mobile phones for taking and storing photographs of hazards.
Ricketts stated; “Mobile apps are becoming ever more pervasive, and in ARM SNAPPit we have the first in a series of mobile tools and apps designed to streamline the collection and communication of risk information. With ARM SNAPPit all evidence is kept centrally within ARM providing an audit trail of what occurred, supporting documentary evidence for regulatory reporting.”
ARM Risk Express has been significantly extended in conjunction with ARM X. Organizations can now choose from a far greater number of fields to ensure that the tool provides a much closer fit to their risk management processes making capture and update simpler for risk owners and end-users using Risk Express’ light touch interface.
Additional facilities within ARM X include Impact Only and Weighted scoring. Together this extension to scoring capabilities means business users from both ends of the spectrum can be included within the central Risk management process. The underlying technology refresh has also enabled streamlining in many areas including improved Waterfall and charts and Probability Impact Diagrams (PID).
ARM X will be available to supported customers from 15 December 2017.