PowerPoint Presentation
Smart Risk-Based Auditing Softwarewww.compliance-master.com
Quantitatively monitor, control and improve your operational
risks
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Quantitatively measure and control operational risks within
user-specified limits.
Unlike other auditing and inspection systems, Compliance Master
quantitatively measures and controls operational risks, within
user-specified limits.
At the same time, the softwares in-built analytics will
significantly reduce the amount of time and effort - your employees
spend collecting, analyzing and reporting audit and inspection
results.
There is simply no other software that incorporates Compliance
Masters smart, risk-based auditing and inspection technology.2
Operational risk is the prospect of loss resulting from
inadequate or failed procedures, systems or policies. Employee
errors. Systems failures. Fraud or other criminal activity.
How can I consistently measure and compare my operational
risks?
All organisations are subject to operational risk. But finding a
common system, that can objectively measure and compare operational
risks organisation-wide, has always been a challenge.
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Quality Safety Finance Security Common Weaknesses
Unnecessarily high costs Inconsistent reportingSuboptimal
decision makingIll-informed risk taking
Without a common system, operational risk monitoring and control
tends to operate in siloes; which often leads to unnecessarily high
monitoring costs, inconsistent reporting, suboptimal
decision-making, and worse still, ill-informed risk taking.
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Non-conformanceConsequence
Non-conformance %0.010.11.010.0100
Acceptable Risk
Unacceptable Risk
Process / SystemRisk Assessment
Action
ExampleAccept riskApprove dispatchApprove receipt
Example100% inspectionMitigate riskStrengthen controls
Unlike other software solutions, Compliance Master uses proven
statistical sampling methods, to quantitatively assess the
consequence and rate of process and system failure.
This information is then analyzed to determine whether
operational risk levels have exceeded an organisations specified
limits, and if so - what actions are needed to mitigate risk levels
and strengthen risk controls.
Conversely, should process and system failures fall within an
organisations risk limits, products and services can be approved
for use, dispatch, payment or acceptance into production, or
service.
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Objective Performance Rating
Process / System
Achieves risk limits all of the time
Achieves risk limits most of the time
Exceeds risk limits most of the time
Another powerful feature of Compliance Master, is its ability to
assign each process and system an objective performance rating.
Put simply, if a process or system consistently achieves an
organisations risk limits all of the time, it is assigned an
Excellent performance rating.
If it achieves these limits most of the time, it is assigned a
Good performance rating.
Conversely, if it exceeds these limits most of the time, it is
assigned a Poor performance rating.
This rating system to continuously optimise auditing efficiency
and improve process performance.
For example, a switch from a Good to an Excellent
performance-rating will result in a smaller sample-size requirement
for the processs next audit.
While the production of user-specified protocal a reduction in
auditing or inspection frequency, and to reward process-owners and
suppliers for achieving this quality milestone.
Conversely, a switch to a Poor performance-rating, can be used
to increase audit frequency, or to initiate an investigation into a
processs unacceptable risk performance.
This dynamic risk-based approach to process monitoring and
control, is far more efficient and effective than conventional
nonconformance auditing and inspection solutions.
Most importantly, it also fully conforms to the new process and
risk-based thinking requirements outlined in ISO 9001 2015.
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Significantly improve your organisations risk monitoring,
control and improvement capability
Im a genius!
By incorporating this information in an easy-to-follow
performance dashboard, board-members, top-management and other
stakeholders can quickly understand where an organisation is most
risk exposed; and the extent of that exposure.
From here they can ensure the organisations limited improvement
resources, are always directed to those processes and systems most
in need.
The software can also be used to monitor the effectiveness of
these improvements over time.
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Improve stakeholder assurance, collaboration and continuous
improvement
With a simple click of the mouse, or a tap of the screen,
process-owners and suppliers can objectively benchmark and compare
their operational risk performance against the organisations risk
targets.
They are also able to identify the causes of unacceptable risk
performance, and work more collaboratively with other stakeholders
to ensure they dont reoccur in the future.
They can also take advantage of the softwares full audit trail,
to view individual audit and inspection results, auditor and
inspector comments, attached documentation and photographic
evidence, view product and service approval and rejection
details.
But the benefits dont end here.
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Action
Smaller sample-sizeReduced audit / inspection frequency
Larger sample -sizeIncreased audit / inspection
frequencyObjective Performance Rating
Process / System
Another powerful feature of Compliance Master, is its ability to
significantly improve an organisations risk monitoring efficiency,
by adjusting the level of rigor applied to each audit and
inspection.
For example, a process with an Excellent performance-rating, is
assigned a smaller sample-size and auditing-frequency, than a
process with a Good or Poor performance rating.
This dynamic, risk-based approach to auditing and inspection, is
far more efficient and effective than conventional solutions. This
is because it focuses an organisations limited auditing and
inspection resources, on those parts of its business that are most
risk exposed.
Most importantly, this approach conforms to the new process and
risk-based thinking requirements outlined in ISO 9001 and ISO
fourteen thousand and one.
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[email protected]+61 3 9367
5777
Contact us now to organise your FREE consultation and software
trial!
Call us now or visit our website, to organise your FREE
no-obligation consultation and trial of the worlds most advanced
operational risk monitoring and control software.
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