Key Metrics

Business owners know it’s important to measure how their business is doing, but there are hundreds of different metrics to choose from. TriLine GRC has integrated Key Metrics in areas such as Risk Management, Compliance, Event Registers and KRI’s so you can measure and manage different aspects of your business: profitability, liquidity, efficiency, as well as customer acquisition and retention.  Most organisations capture and report their Key Risk Indicators or utilise some form of Key Metrics

Usually, it usually the Compliance and Risk department that has to chase individuals Risk Reports or chase the Risk Manager for an update on Incidents and Breaches within the organisation. Nobody enjoys having to gather, collate, interpret, analyse and then present data, unless you have TriLine GRC which does all the boring work for you.

TriLine GRC engages the KRI owners or managers and encourages them to get involved in reporting, interpreting and responding to current positions before they are escalated to senior management.  Organisations often build Key metrics programs based on basic data relating to Incidents and Breaches, Operational Risk, Market Risk, Financial Risk or Security Risk. IT Managers have identified Cyber Risk as a growth area in Risk Management and one where Key Metrics and KRI’s have become essential management tools. Particularly in the banking and finance area, escalating regulatory pressures are forcing organisations to strengthen Risk Management and Assurance activities. Optimisation of Transaction Monitoring systems has forced many institutions to question whether their Key Metrics are providing the best support for their organisation. Key Metrics and Key Response Indicators not only identify and measure the progress and success of a TM program but also provide opportunities to optimise the system. TriLine GRC helps financial institutions to align their KRI’s and to develop Key Metrics that measure the right metrics and leverage risk and performance indicators. Using the right Key Metrics can give an institution information about a number of Key Risk and Performance Indicators (KRIs and KPIs) used to gain insight into the effectiveness of the TM system. KRIs can help track an organisations Risk Appetite and help identify potential emerging risk as well as driving appropriate Risk Mitigation activities. KPI’s can help analyse historical data and allow for pattern recognition and forecasting which can be used in Alert Management and Capacity Planning.

TriLine GRC can help you to develop effective Key Metrics using the correct parameters for your business. Ask yourself questions about Risk Exposure, Market Risk and Compliance so you can decide what is most important for your business. TriLine GRC gives you the platform to record the Key Metrics as part of your Alert Management Process while centrally managing Risk scoring and Risk Reporting. Combining the use of Key metrics, data analytics and Risk Activity Monitoring, your organisation and use our ERM system to deliver better information, clearer outcomes and ensure full Compliance with local regulations. You can revisit each Key Metric to review KRI’s, to alter targets or to make adjustments according to Operational Procedures or Strategic Management plans. Managing your Strategic Risk and Operational Risk gives Management, stakeholders and staff members peace of mind and is part of our overall Enterprise Risk Management system.