Enterprise Risk Management (ERM) solution is a software solution, through which strategic, financial and reputation risks of an organization are defined, analyzed, evaluated, controlled and managed in an integrated manner. Enterprise Risk Management minimizes the financial losses and protects the company from external threats. It also ensures that the company is always on alert against all adverse situations that may impact its prestige.
Why companies need enterprise risk management? The most important reason is to maintain its existence continuously. However maintaining the existence is not enough alone. Enterprise Risk Management is also significantly important to reduce losses, avoid from unnecessary costs and wastes, achieve income balance and comply with legal arrangements.