RISKID arrives in Brazil to support companies in enhancing their Enterprise Risk Management initiatives

RISKID is a risk management software that will aid corporations reduce expenses, optimize time and simplify the planning of preventive actions and risk management activities, and can be adopted by companies of all sizes and sectors.

In recent research conducted among Brazilian companies in different sectors, 70% said they believe that the implementation of risk management programs can improve corporate governance practices and visibility, both internally as well as to the market. However, the same study points out that 65% of companies mention that the absence of a risk management culture is the main obstacle to the implementation of an efficient program for this purpose. Another important observation is that 80% of the companies interviewed believe that technology is crucial to incorporate risk management in the business, but 72% say that there are no technological tools for this purpose in use today (SOURCE: KPMG, Maturity Research of Risk Management Process in Brazil, 2018).

In this scenario, RISKID arrives in Brazil, a risk management tool that focuses on collaboration and ease of use. The goal of the tool is to help organizations of all types and sizes reduce time and resources spent on risk management activities, using technology and services that streamline processes and facilitate stakeholder awareness and collaboration on risk.

Stakeholders are invited to participate in an online session where everyone lists risks and possible causes and effects. Then they assess the probability and the impact of the risks. The software processes this data and facilitates discussion with highlights on risks that are not in consensus. After this mitigating actions are defined and presented for execution. RISKID makes this whole risk analysis process much more engaging and achieves over 50% of time saving compared to other traditional systems and methods.

The tools available on the market, so far, are very complex, commit to a longer implementation time, and is not collaborative. RISKID proposes the involvement of all team members, minimizing possible flaws in the planning of risk prevention programs. In addition to supporting collaborative risk workshops, the platform has mechanisms to monitor risks, dashboards, reports and action plans with just a click of a button. RISKID is fully web-based, guaranteeing access at any time or anywhere. It also allows the user to receive alerts about key changes in the risks.

RISKID started activities in 2009 as a startup at the Delft University of Technology in the Netherlands. RISKID is part of the company TeamSupport, Creating Together B.V., an innovative and growing company in the risk management software segment in the Netherlands. Present in several countries such as the Netherlands, Belgium, England, Germany, Malaysia, China, Singapore, Nigeria, Finland and Canada, it starts its operations in Brazil through a partnership with Vicenzi Santiago Assessoria Empresarial. According to Calvin Lee, co-founder and Operations Director of RISKID, “it is time for risk practitioners to reject bad and over-complicated software. Our mission is to make easy and moreover practical risk management software. And we want to show organizations in Brazil that RISKID can really support them in their risk management activities”.

According to Carlos Santiago, director of Vicenzi Santiago Assessoria Empresarial, the official partner of RISKID in Brazil, “We believe that effective risk management can only be achieved when all stakeholders are involved, but in a simpler, faster process.” And he concludes, “the Brazilian executives and entrepreneurs have already wiped out what they could with the multiple economic crisis we are going through and simply cannot take risks that cannot be managed; and that is exactly what we are aiming: to support companies of all sizes in identifying and managing risk efficiently and reducing the total cost of risk management.”

Carlos Santiago

Carlos Santiago, a graduate in Business Administration and Accounting from PUC-SP and an MBA in Management from Insper, has 23 years of experience in corporate governance, risk consulting, insurance and compliance consulting, and has developed strategic projects and consulting for leading companies like PwC and Marsh. Lived and worked in countries like Mexico, USA and India. He was vice president and first executive of Marsh Risk Consulting in Brazil.

 

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Débora Venturini
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