AuditBoard, the innovative cloud-based platform transforming how enterprises manage risk, today announced the release of the next version of its RiskOversight KRI feature, empowering companies to proactively manage key risks through metrics. Available as part of AuditBoard’s RiskOversight solution, this powerful feature allows users to create, track and analyze the KRIs (key risk indicators) that are most important for their business, so they can prepare for the future and make quantifiably better decisions.
In the wake of recent cyberattacks and security breaches, risk is undoubtedly top-of-mind for every risk management, compliance, and internal audit professional. KRIs are an essential way to identify early warning signs of potential risk, as well as monitor trends in risk over a period of time. AuditBoard’s KRI feature makes determining and tracking key risks easier, faster, and more effective. Built into the RiskOversight solution — one of four modules within AuditBoard’s connected risk platform — this tool gives risk professionals and business leaders a complete view of their risks, attached to actionable metrics.
RiskOversight KRI Features and Benefits
RiskOversight KRI helps organizations stay ahead of risk and future-proof their businesses. As a key element of AuditBoard’s connected risk architecture, the feature helps to elevate risk teams, providing them with a unified data core to centralize their organization’s risks and leverage risk as a strategic driver.
Key features and benefits include:
- Customizable metrics: Users can create their own KRIs and configure thresholds to track performance against company goals.
- Linked risks and assigned owners: Once KRIs are created, users have the ability to link KRIs to risks and assign owners to continuously monitor data.
- Historical trend data: Essential for analyzing data, users can view KRI data trends historically to gain actionable insights and produce better reporting.
- Mass selection for KRIs: With the ability to mass select KRIs, users can easily request updates from defined owners.
- KRI surveys: Users can send surveys on KRI status to gain additional insights.
For more information about RiskOversight KRI by AuditBoard, please visit AuditBoard.com.