Diligent Launches Board Reporting for Enterprise Risk Management, Giving Leadership and the Board a Clear and Holistic View of Their Organization’s Risk Posture

May 02, 2024 at 08:00 AM EDT

New board reporting dashboard brings data and analysis into an easy-to-comprehend format, helping boards understand their organization’s risk posture and make data-driven decisions to drive resiliency

Diligent, a leading GRC SaaS company, today announced the launch of Board Reporting for Enterprise Risk Management (ERM), a templatized dashboard that delivers easily digestible risk reports for boards and executives, complete with actionable and auditable data. Through the Diligent One Platform, organizations can now streamline the integration of risk data, enabling analysis to better manage strategic risk and generate insights, all from a single source of truth.

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“Sifting through mountains of data to extrapolate the right insights to surface to the board is time-consuming and inefficient. Not to mention, manual reporting from multiple systems can often be unreliable,” said Diligent customer Simon Owen, Group Director of Business Risk and Internal Audit, Grafton Group plc. “Having the ability to streamline data collection, break down siloes and communication gaps and surface clear insights built on reliable, up-to-date risk data is invaluable.”

“Maybe an individual risk on its own isn’t significant to the business, but combined with liquidity or other market aspects, it can suddenly become a very big risk,” said Barbara J Duganier, Board Member at Arcadis, CenterPoint Energy, Pattern Energy and others. “Being able to look at not only individual risks, but how risks aggregate and correlate with one another, is not an easy thing to do but it’s critical to see around corners and drive resiliency.”

Diligent Enterprise Risk Management centralizes an organization’s risk program into a single platform that automates and streamlines efforts to manage strategic risk. Now with Board Reporting for ERM, practitioners can pull reports on a regular cadence and share them in an easily digestible, best practices template. This allows boards and executives to see the full picture so they can spend less time deciphering complex information, and more time making data-driven decisions.

The launch of Board Reporting ERM follows the success of recently released board reporting dashboards from Diligent, including Board Reporting for Cyber Risk, Board Reporting for Audit and Board Reporting for ESG.

Key features of the Board Reporting for ERM dashboard include:

Consolidated insights delivered in a familiar format, providing directors with a clear and cohesive narrative to enhance their understanding of their organization’s risk profile.

A risk heatmap with visual representations of an organization’s risk posture, categorized and prioritized based on their impact and likelihood to help leaders quickly identify and understand the most critical risks.

A risk appetite overview highlighting how an organization’s top strategic objectives align with its risk appetite’s framework, and showcasing the risk categories and thresholds that are relevant to the board.

An AI-enhanced view of risk built with Diligent's proprietary data, outlining SEC 10-K risk disclosure trends for a clearer picture of an evolving risk landscape. Users can benchmark their company's top risks against peer groups to gain better visibility into the risks being prioritized by competitors and industry peers.

A real-time view of top strategic risks facing the organization and their impact on strategic objectives, current risk score vs. risk appetite, the risk owner and progress on mitigation efforts.

"The volume and complexity of risks facing organizations has increased rapidly. At the same time, regulations are making the board of directors accountable to demonstrate their understanding of key risks to the business,” said Adam Bailey, Global Head of Product at Diligent. “Board Reporting for ERM is the first tool to elevate data across the organization up to the board in an easily digestible format, to give a clear view of a company’s risk posture”

Learn more about Board Reporting for ERM on the Diligent One Platform, here.

About Diligent

Diligent is the leading GRC SaaS company, empowering more than 1 million users and 700,000 board members and leaders to make better decisions, faster. The Diligent One Platform helps organizations connect their entire GRC practice — including governance, risk, compliance, audit and ESG — to bring clarity to complex risk, stay ahead of regulatory changes and deliver impactful insights, in one consolidated view. Learn more at diligent.com.

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