Quantivate, a leader in governance, risk and compliance (GRC) software, has announced the launch of its newest SaaS application, Issue Management. Issue Management gives financial institutions a clear path for identifying, prioritizing, mitigating and ultimately resolving issues, all while allowing for dynamic reporting throughout the process.
“Issue Management puts a feature-rich set of tools at a team’s fingertips, enabling them to better understand issues across the organization. It also equips teams to remediate immediate and future risks, while saving financial institutions time and money,” said CEO and Founder Andy Vanderhoff.
Issue Management achieves four main positive business outcomes that allow banks and credit unions to operate more efficiently:
- Enhance visibility: The software creates a single source of truth for issue management and executive oversight.
- Break down data silos: Teams are able to manage issues enterprise-wide using standardized processes and shared data.
- Maintain an audit trail: Organizations are able to document issue management and mitigation processes in a single system of record.
- Gain organization insights: Learning the root causes of issues, as well as which pose the most risk, allows teams to support strategic management decisions. They’re also able to leverage risk data from eight other Quantivate applications to get a complete view of their organization’s interconnected risks.
Quantivate Issue Management provides end-to-end functionality with tools and resources for each stage of the issue management lifecycle. Feature highlights include:
- Dedicated issue management processes
- Centralized digital dashboard
- Built-in templates and content
- Risk assessment
- Root cause analysis
- Issue treatment: accept risk or create a mitigation plan
- Issue review and monitoring
- Extensive customizable reporting
- Automated notifications
Quantivate’s platform allows financial institutions to choose if they want to start small by adopting departmentally aligned solutions then scale as their business grows. Issue Management is sold within Quantivate’s ERM, Audit and Procurement solution package and integrates with the entire GRC suite.
Read the full announcement at Quantivate.