longview.com GRC - INTEGRATED RISK MANAGEMENT Only companies that know exactly what's heading their way can safeguard their future. Recognising and assessing opportunities and risks early and introducing suitable measures and controls are effectively securing future corporate success and competitiveness. Longview’s integrated risk management solution offers you a full overview of developments critical to your company. Well prepared: Controls, compliance and transparency in one solution The task and target of a risk management system is guaranteeing the security and long-term viability of an organisation. The obligation to introduce a professional risk management system results from: Growing regulatory pressure, for example, regional laws and regulations such as section 91/93 AktG, and 317 HGB; BilMoG, DRS20, IDW PS 340/350, SOX Global frameworks COSO II ERM, ISO 31000 etc. Growing requirements from external partners, supervisory bodies, service providers and customers There are no binding directives or best practices for identifying, assessing and prioritising risks. The strategy for dealing with risks is limited to individual functions; there is no comprehensive overview. The current processes and workflows are neither coherent nor clear. There is uncertainty surrounding opportunities and risks and their impact on potential business and business development. There are inadequate risk concepts and metrics for companies, different departments or functions. Every company has its own specific position on the area of risks and opportunities. There are inadequate IT systems in use; Excel predominates. There is a need for improvement regarding maintenance, scalability, flexibility, security and process efficiency. WHY IS RISK MANAGEMENT SO IMPORTANT? Risk management involves uncovering, recognising, assessing and prioritising risks, as well as identifying and actively shaping preventative countermeasures. Suitable control mechanisms will secure the successful implementation of risk management. A critical component is also analysis following the coordinated use of company resources in order to reduce, monitor and control the probability of the occurrence and/or the effect of unwanted and potentially damaging situations and to realise possible business opportunities. In the past few years, 52 per cent of Fortune-500 companies that existed in 2000 have disappeared.* *Source: Constellation Research; 2014 PESTEL Framework FREQUENT CHALLENGES FOR COMPANIES