risk-based thinking software

Risk-based thinking sits at the heart of Compliance Master®'s smart, A.I. risk auditing and inspection technology.

 

In recent years there has been a shift in how enterprises view and manage their quality and compliance requirements.  Today, enterprises are looking for more efficient and effective methods for assuring the quality of their products and services, compliance with government regualtions, industry standards, and customer requirements.  Risk management processes are proving to be an effective option.

International Organization for Standardization (ISO)

The International Organization for Standardization (ISO) now requires enterprises to adopt a risk-based thinking for the monitoring, control and improvement of system and process non-compliances.  But many organizations aren’t sure what that means or how to go about it.

 

ISO 9001:2015 and ISO 14001:2015 standards

Risk-based thinking

​Compliance Master​®

 
Fundamentally, risk-based thinking helps enterprises optimise the management of their compliance and operational risks by focusing their limited monitoring, control and improvement resources on their highest risk systems, processes and third-parties.

With Compliance Master® it has never been easier or more affordable for enterprises of all types and sizes to create a highly effective and efficient  ISO compliant, risk-based thinking solution. 
 
Objective risk assessment
Over consecutive audits and inspections Compliance Master® uses advanced data analytics and machine-learning to objectively assess the capacity of each system, process or third-party to consistently achieve or better an enterprises' specified risk limits, and to assign it an objective risk-rating; which is displayed in easy-to-understand dashboards.
 
Enhanced risk control
Following each audit and inspection Compliance Master® automatically determines what user-specified actions, if any, are needed to mitigate compliance and operational risk levels within acceptable limits.  Therefore, ensuring an enterprises' response to audit and inspection outcomes is always proportionate to the assessed risk. 
 
Enterprise-wide risk reporting
Compliance Master®’s integrated reporting capability provides stakeholders at all levels of an enterprise unparalleled insight into system, process and third-party compliance and operational risks enterprise-wide; refer below.  

Example – Integrated Risk Performance Map

Tailored reports can be easily produced for board-members, committee-members, senior management, shareholders, creditors, customers, suppliers, communities, governments, regulators, etc.
 
Continuous improvement
Compliance Master® monitors any changes in the performance-rating assigned to each system, process and third-party to determine when and what actions are needed to improve its performance.  Continuous improvement can be further facilitated by making managers, employees and third-parties more responsible for their risk performance by linking their risk-rating with actionable performance incentives and penalties.
 
Optimised risk-based thinking 
Compliance Master® takes risk-based thinking to a whole new level by calculating the optimal audit and inspection rigor i.e. sample-size and frequency i.e. for each system, process and third-party based on its assigned risk-rating.  Meaning, those systems, processes and third-parties with a “Poor” performance-rating are monitored more rigorously than those with a “Good” or “Excellent” performance-rating.  ​

 

"If you cannot measure something, you cannot understand it.
If you cannot understand it, you cannot control it. If you cannot control it, you cannot improve it."

H. James Harrington, US Quality Guru and Author

What are the Benefits?

  • Quantitative risk measurement

  • Quantitative risk measurement
  • Effective risk control

  • Effective risk control
  • Objective performance evaluation and reporting

  • Objective performance evaluation and reporting
  • Continual performance improvement

  • Continual performance improvement
  • Optimized risk monitoring

  • Optimized risk monitoring
  • Scientific non-conformance analysis and reporting

  • Scientific non-conformance analysis and reporting
  • Full assessment and approval trail

  • Full assessment and approval trail
  • Take the next step

  • Take the next step

Compliance Master® uses world-best-practice ISO statistical standards (Acceptance Sampling by Attributes) to quantitatively assess and control an enterrpise's compliance and operational risks within specified limits; or risk appetite.21 This highly objective approach to risk-based thinking is signfincatly more reliable and efficient than subjective risk assessment methods.  These standards are re-published by most standards bodies world-wide; refer below.

 

Compliance Master®'s smart, risk-based auditing and inspection technology enables enterprises the abality to control their compliance and operational risk by only accepting products, services, activities, data, etc. ( i.e. items) that fall within its specified risk limits.  While providing enterprises the assurance needed to confidently reject items that fall outside its risk limits.  Depending on the application, rejected items can be either disposed, reworked or replaced before they are once again resubmitted for risk assessment.

  

 

 

Compliance Master® assigns each system, process, group and third-party (i.e. Entity) an objective risk-performance-rating i.e. Excellent, Good, Poor based on its capacity to consistently achieve or better an enterprise's specified risk limits over time.  This information is displayed in a series of easy-to-understand performance dashboards that enable internal and external stakeholders to quickly assess and compare compliance and operational-risks enterprise-wide.  
 

Compliance Master® facilitates continuous improvement by enabling internal and external stakeholders to quickly identify when and where an enterprise is most risk exposed, and to direct their limited mitigation and improvement resources where they will generate maximum benefit i.e. risk reduction.  

Continuous improvement is also faciliated by providing system, process and third-party owners the abiilty to relaibly assess and compare their risk-control-performance with others, linking their performance to incentives and penalties, and providing them the means to quickly identify the causes of unacceptable performance. 
 

Compliance Master®'s smart, A.I. risk-based auditing / inspection technology significantly reduces the amount of time and effort normally needed to collect, assess and report compliance and operational risk levels enterprise-wide; by up to 80%.   While the likelihood of costly over and under auditing / inspection is virtually eliminated.  

 

Compliance Master®'s advanced data-analytics and scientific reports make it easy for system, process and third-party owners to quickly identify, prioritise and correct the causes of unacceptable risk control performance, before they can adversely impact on enterprise goals and objectives.  Reports can be directly emailed to internal and external stakeholders, or downloaded in MS Excel and pdf formats for futher analysis and reporting purposes.

 

Compliance Master records the details of all process, asset, supplier, product and service inspections including the date and time of each product inspection, who undertook the inspection, who approved the results, and who was responsible for overseeing any rework or process improvements.

With just a couple of clicks, authorised users are able to quickly view individual audit and inspection results including, auditor and inspector comments, attached documentation, supporting photographic evidence, and rejection / approval details.

Significant benefits now await those organisations seeking to create a new risk-based process monitoring, control and improvement paradigm. The methods and technology exist - all that remains is for you to take the next step.

Call us now or click here to organise your FREE no-obligation consultation and demonstration of our smart ISO compliant risk- based thinking software

Download the brochure by clicking here or view the video here.



21The acceptance sampling procedures used by Compliance Master® are based on AS 1199.1-2003 Sampling procedures for inspection by attributes, Part 1: Sampling schemed indexed by acceptance quality limit (AQL) for lot-by-lot inspection. These procedures are the same as those found in ISO 2859.1:1999 apart from minor variations in terminology. These methods are used with the permission from SAI Global under license 1004-c068. To purchase this standard online follow link: http://www.saiglobal.com.