A1 Enterprise presented an Asset Risk Management Software to one of the largest traders for raw materials. The company trades oil and gas, metals and minerals, thermal coal among other 96 raw materials. In addition, this company also has several mining assets and does trading and marketing on the side. Currently, they are in need of a more sophisticated web-based software to track asset risk with forecasting capabilities , underwriting, and risk action plans. They also need to track assets across various legal entities, data migration, health and safety data reports. The ability to identify, classify, & resolve asset risks that are crucial to their business.
A1 presented A1 Tracker software with asset and risk management modules to support risk ratings, heat maps, and scoring of assets. A1 presented modules as to integrate with other core business systems in order to produce a more responsive software that sources live data from accounting and other database sources. In order to maximize and utilize A1 Tracker, A1 presented risk and asset details with business rules, alerts, and user controls. This is control for all levels of user access and what data users can access. Risk and asset management software supports tracking risks at all levels of the organization where the administrator may also add additional levels:
- Business Unit
Values and metrics within the risk database can also be configured through a pre-response rating and impact, post-response and post impact, and residual risk. These can be represented with various metrics & formulas depending on the preferences, practices, KPI’s, and policies of the company. In addition, keyword search and filtering makes it easy to find any piece of information in the system quickly. Robust searching and reporting capabilities allow users to search for the kind of risk, asset, contact, document, resolution, or notes content within a given time range. Users can also create custom reports based on sorts and filters applied.
Users can export risk management software and asset data to different file types including MS Word, PDF, CSV and Excel. Alongside export features based on the metrics they need to track within their organizational unit. Each company has different performance indicators such as time ranges,, key dates, levels and types of risk, assets, locations, costs & expenses, or additional fields which can be done through a highly sophisticated and dynamic reporting dashboard featuring charts, graphs, and heat maps.To see the bigger picture of risks recorded in the database, multicharts or combined criteria dashboards are also available. This allows a user to select multiple feeds and show the details from that report. These reports can be downloaded as images which can be used for powerpoint presentations.
User portals gives both internal and external users a single entry point for risk assessment updates. We configure A1 Tracker portals according to the needs, workflow requirements, and branding personality. The user portal can be accessed through a phone or a tablet whereas the back-end administrative area offers a broader range of data and reportability, Users may additionally upload files through the portal, upload costs, indicate notes, and generate messages.
Business Rules and the Workflows automate processes throughout A1 Tracker Risk Management Software.
Other features that were shown included:
- Forecasting capabilities and the possibility to make decisions.
- Notifications that will trigger when a risk is registered
- Risk registers across different subsidiaries to detect similar risks and view common causes while learning from prior risks as to either prevent recurrences or expedite risk resolutions.
- Techniques to assess/analyze risks as potential opportunities.
- Capabilities to plugin other tools to the Asset Risk Management Software for data centralization.
For more information on how A1 Enterprise can assist you in your asset management needs, click here to schedule a demo.