LogicManager Expands Risk Management Software AI

LogicManager, a provider of ERM software solutions, is supporting the modern-day risk manager’s heightened need for robust technology.

LogicManager CEO Steven Minsky explained, “The see-through economy will continue to expose companies without solid risk management practices. Risks are amplified across organizations as they react to the pressures from the pandemic; regulatory changes, ransomware threats, remote work digitization, privacy concerns, supply chain issues, HR challenges, tax changes and ESG pressures – just to name a few. But through an effective risk management program, 100 percent of liabilities due to a risk event can be avoided.”

In their most recent quarterly product release, LogicManager launched platform enhancements that add efficiencies and improve the effectiveness of users’ overall programs:

  • Risk-Based Analyzer uses artificial intelligence to extract information from any document, such as a vendor contract, internal policy or regulation, then draws connections between its terms and an organization’s risks. With the click of a button, users can view pertinent information about that document – such as data breach notification requirements or liability details – to ensure they’re not acquiring undue risk.
  • Content Hub allows users to implement controls for common risks, as well as requirements for compliance standards, frameworks and regulations. It houses control sets and requirements out of the box so users can search for what they need and implement it into their environment. It also will tell them if they’re already meeting a requirement and provide insight into the ways in which other companies in their industry are mitigating similar risks.
  • True Risk Calculator pulls in all of their vendor information and allows them to understand the risk a third party poses to their business. True Risk accounts for a vendor’s external risk rating, and its relationship with the organization.
  • One-Click Compliance surfaces all relevant controls an organization has in place and links them to a compliance requirement in one click. It also works for auto-mapping controls to risks, and vice versa. This eliminates duplicative work and human error.

These new features can be used to support a broad ERM program, or aid in more specific use cases like vendor onboarding, audit planning or ESG disclosure preparation.

For more information, visit www.logicmanager.com.