Risk and compliance management software provider NAVEX has launched a new risk management product, NAVEX IRM Out of the Box. The new, pre-configured solution is designed to help organizations quickly stand up IT and third-party risk management programs, the company said in a news release.
“While the risk landscape changes quickly, many organizations simply don’t have the in-house expertise or personnel to build an effective IT or third-party risk management program from the ground up,” Haywood Marsh, general manager of NAVEX IRM, said in the news release. “This out-of-the-box solution delivers a solid, quick-start implementation that benefits from NAVEX’s years of risk management expertise.”
NAVEX says the software will allow teams to:
- Simplify their program and begin mitigating risk fast with pre-defined and configurable data libraries and organizational hierarchy creation.
- Grow end-user productivity with risk assessments using self-created or popular frameworks like COSO, NIST or CIS.
- Benefit from pre-populated risk registers that include program risks, controls, processes and other critical risks.
- Remove the confusion and delays often found with complicated risk management concepts with quick and simple to understand guided workflows that navigate users through the full risk management lifecycle.
- Speed adoption by reducing implementation time to days or weeks.
- Make informed and strategic decisions with dynamic and interactive reports and dashboards with real-time data for each user group.