Xactium Risk

Xactium Risk Manager Review

As a relatively inexperienced risk manager, having just evolved into the role and started on my risk management certification, I have found this tool to be exceptionally easy to use. It maintains the intergrity of risk management best practices while allowing you to customise it to your company's needs. The reporting tool is exemplary and I look forward to using the tool to it's fullest capability to help manage our risks internationally.

Xactium Risk Manager Review

The risk culture was firmly imbedded into our organisation (small retail bank), however we needed greater flexibility, robust auditing, and better trend analysis of key risks, metrics and controls. After reviewing various products on offer in the market place, the Xactium Risk Manager was considered a cost effective solution. Xactium Risk Manager has been installed now for several months, the Team at Xactium were professional and extremely helpful and assisted with the importing of our historic data. Using the software is simple and it gives a holistic view of our inherent and residual risks. The heat map and reports displays our current position against our risk appetite. Xactium were able to tailor the software and configure it to meet our needs and we utilised some standard features which were not available under our old process. The ease of being able to add and remove new risk indicators, update metrics and controls enables our risk management framework to be dynamic as we expand in the future. Overall I would highly recommend Xactium Risk Manager and its professional helpful staff. The service was second to none and personalised by the Managing Director.

'Xactium is taking over our business information'

We started using Xactium Risk Manager at ED&F Man 3 months ago, in that time we have been able to integrate our Risk and Control Assessments, Internal Audit Reports, Legal Cases, Loss Events, Insurance Claims and Operational Incident reports. We have been able to gather a much more comprehensive view of our risk and control activities and share this information with risk colleagues and business operations at our numerous international locations. We’ve been really impressed by the risk assessment functionality, which means we can assess the effectiveness of our controls against our risks. It’s a really flexible tool and we feel confident that it will enhance our risk management capability and support our requirements as they evolve in the future.

Implementation and use of Risk Manager

We completed a global roll-out of the Risk Manager solution in less than 8 weeks, and have been very pleased with how quickly Xactium have been able to configure the application and respond to our requests for customizations, especially for the new standard reports we required. The flexibility of Force.com and the depth of configuration possible in Xactium Risk Manager (rather than complex customizations) mean that productivity for the system is very high. Use of the Risk Manager application is intuitive and contains the granularity of data we require. We developed a number of customized reports which are available to all users as the standard format for reporting, which cuts down the work for generating reports and speeds up the time for buy-in from the end users. Xactium’s support and expertise have been hugely beneficial, we have achieved exactly what we set out to do with minimal time spent on testing and accepting the customizations' required. The area of reporting has had particular benefits; this was previously labour-intensive and time-consuming, now the time taken to produce reports across the Group is a small fraction compared to the previous method based on spreadsheets and other documents. Assigning access to risk data across our group is now simple and systematic; users in our international offices have a consistent and relevant view of data as they all review the same data source. Our risk management processes have been improved and streamlined thanks to the application. Where we were once relying on spreadsheets, we can now see up-to-date risk data in real-time. We’re confident that this application can deliver our business requirements so much so that we plan to extend the application to other areas of risk and compliance and Internal Audit within JLT.

Xactium Risk Manager Review

We implemented the system in the last 6 months and have been using it in our live environment for three months. One of our major requirements was flexibility whilst still retaining control - we needed to be able to adapt the system to work for our organisation, whilst still being able to benefit from the standard functionality within a system that enables us to manage our risks and associated controls and actions. Xactium provided that exact mix - the standard functionality met the majority of our needs, but is flexible enough to allow for customisation to satisfy our specific requirements. The level of support and communication has been excellent, from implementation right through to day to day support. It's been particularly good as new users that our questions are always answered promptly and patiently, even when it is down to our inexperience of the system rather than faults. We find we save a lot of time on the reporting side of our risk data now as we have pdf reports available at the click of a button via salesforce risk manager.

RISK MANAGEMENT SYSTEM

We implemented the system approximately 6 months ago. It was a big requirement that the system was flexible so that we could adapt it to work for our organisation, we wanted a bespoke system for all of our risk information, policies, controls etc...and that's exactly what we have been able to achieve. The level of support and communication has been excellent and we find that the more we learn about the capabilities of the system the more we are able to use it for different aspects of our business. We find we save a lot of time on the reporting side of our risk data now as we have pdf reports available at the click of a button via salesforce risk manager. I work from home part of the week and I love the fact that it is simple to log in from home and the system looks exactly as it does when I sit at my desk in the office. I would have no hesitation in recommending the product.

Review of Xactium Risk Manager

I am very excited about the product you have developed. While testing the Risk Manager I have found it to be very easy to use and understand; the set-up was quick and effortless. My reporting needs have been met as multiple data elements can be pulled together into one report. When I have had a question your team has been quick to respond with a solution. Overall I have to say I have been very pleased with the product.