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  • Satellite Evolution

Sword GRC releases feature-rich Active Risk Manager 2022 for enterprise & project risk management

Global leader in risk, compliance and governance software and services, Sword GRC is proud to announce the general availability of Active Risk Manager 2022, the latest version of its flagship risk management solution. ARM 2022 represents a major upgrade, offering significantly enhanced functionality and a range of new usability features for comprehensive project and enterprise risk management (ERM]) that support the attainment of strategic objectives.

Supporting ERM best practice, ARM 2022 includes new ARM Visualizer, providing risk professionals with a 360° view and greater understanding of the interconnectivity between risks across the enterprise. With the ability to visualise all records that are linked together from one single interface, risk data can be interrogated and better decisions reached. Easily identified, priority risks can be acted upon to maximize the benefits of risk mitigation.

ARM 2022’s new Key Risk Indicator functionality now provides metrics for the effective monitoring and management of changes in risk exposures. Users can easily determine whether KRIs are leading, early warnings of risk exposure or lagging, evidencing that an event has occurred. Advanced filtering enables focus on and the prioritization of risk records associated with out-of-tolerance KRIs.

To make the risk identification, assessment and mitigation process swifter and easier, workflow functionality has been extended within ARM 2022. Risk Field Workflow now takes in risk, scoring, plans and responses. Workflow rules can be set for each record type to hide or display fields according to defined criteria. Fields can be set as mandatory or read-only when other criteria are met, helping to ensure that risk processes within the organization are consistently adhered to.

Project risk professionals can gain greater accuracy when assessing the likely cost impacts of risks occurring with Risk Cost Impact Formula. ARM’s new functionality enables the centralized storage of cost items which can then be dynamically used to calculate risk cost impacts. Rather than relying on previous experience to calculate risk cost impacts, risk owners benefit from reliable data with a full audit trail.

In addition to the enhancements within ERM and project risk management included within ARM 2022, the release also addresses occupational health and safety within high risk working environments with Sword Verify, a new mobile application.

Through a digital process, Sword Verify provides the confidence that critical controls are operating effectively and are correctly implemented to ensure workforce safety. Whilst promoting a culture of safety within the organization, the mobile application ‘closes the loop’ in risk management, ensuring that controls are being followed on site, thereby helping to reduce the number of incidents or near-misses, safeguarding people and protecting business reputation.

Commenting on the release of ARM 2022, Jim Wetekamp, Riskonnect CEO said: “Sword GRC’s strategic investment in research and development is now being realised for the direct benefit of customers. ARM 2022 is the most feature-rich release to date, providing new levels of data and deeper insights that empower organizations to reach risk-informed decisions and balance threats ‘v’ opportunities more effectively than ever; all through a consolidated ‘single view’ of risk.

“ARM 2022 represents the strength of Sword GRC’s innovation and commitment to leveraging emerging technologies to meet evolving GRC needs with a comprehensive and best-in-class solution set.”

Riskonnect acquired Sword GRC from global leader in technology transformation, Sword Group in April 2022. The acquisition advances Riskonnect’s IRM approach by uniquely incorporating project risk into

its platform and enabling customers to bring all aspects of enterprise risk

under one roof.


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