December 9, 2009

Press Release

BWise introduces the first Enterprise GRC platform with an integrated end-to-end risk process

New York, NY and ‘s-Hertogenbosch, Netherlands, December 9, 2009 – BWise, the global leader in Governance, Risk and Compliance (GRC) management software, has introduced a significant new release of its independent analyst recognized enterprise GRC solution. The solution is now at BWise version 4.1. BWise has integrated best practices, all standard risk methodologies and customer needs in this new release. With this release, BWise offers the first Enterprise GRC platform that can assist enterprises with the entire end-to-end risk management process to actually get in control of your enterprise and operational risks.

In control of your risks with new capabilities
Supporting an end-to-end risk process means that BWise 4.1 has numerous new risk management features, such as risk identification, risk assessments to scope risks, quantify and qualify risks and to evaluate risks continuously; risk monitoring capabilities including advanced Key Risk Indicator dashboards; risk control monitoring and risk analysis. These new capabilities will be valuable to management teams, CROs, risk managers and staff that may handle business controls and operational or enterprise risks. Some of the new capabilities are:

• Multiple assessment definitions with fully configurable heat maps
• Risk appetite definitions per dimension, per entity
• Dynamic risk assessments and risk identification
• Risk phases; for example inherent, residual and target risk
• Advanced workflow support
• Drag and drop risk analysis and reports
Continuous Controls Monitoring, to monitor controls effectiveness and process efficiencies
• Calculated fields to quantify and qualify risks, measures, processes and systems

Incorporated ISO 31.000, COSO ERM, AS/NZ 4360 and best practices
BWise recognizes that risk is of growing interest at enterprises and at all corporate levels of the business. This includes the board room down to business line departments, and from the audit department to risk and control departments. BWise performed extensive research for its new solution; analyzing the risk management needs of its customers and prospects, evaluating standard risk methodologies, such as ISO 31.000, COSO ERM, and AS/NZ 4360 as well as its own best risk practices. Based on the results of this research, BWise has developed a thorough and integrated Enterprise GRC platform that incorporates this knowledge.

Handle all risk methodologies in one integrated platform
Luc Brandts, CTO and Founder of BWise, said, “Customers have asked us for more comprehensive risk based features and more flexibility in risk methodologies. We worked diligently to make the product more intuitive, flexible and to create features such as dynamic risk identification, calculated fields and configurable heat charts in response to those requests. I dare say that with BWise 4.1 an enterprise can handle all kinds of risk methodologies and all of its GRC initiatives in the selfsame GRC platform. To demonstrate what BWise means with an end-to-end risk process, please watch the recorded risk webinar on the BWise website, or contact us for an in-depth demonstration.”


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