A standards-based, app approach to risk assessments

June 2024 Security Services & Risk Management, News & Events

[Sponsored] Earlier this year, SMART Security Solutions published an article about a new web app from Zulu Consulting, designed to automate and streamline the enterprise risk management process. The app, Risk-IO, is web-based and designed to consolidate and guide risk managers through the whole risk process. In this article, we ask Zulu Consulting to tell us more about Risk-IO and how it came to be.

The idea of creating Risk-IO was formed as a collective amongst the Zulu Consulting team due to their combined experiences as risk consultants and managers in a wide variety of tasks in different industries. Given risk's complex and dynamic nature, the team aimed to create an easy-to-use application that could simplify the risk assessment approach while creating efficiency in time spent and financial outlay.

Risk-IO is designed for companies and individuals who need to prepare risk assessments on a semi-regular basis. To ensure the system delivers optimal performance according to accepted risk processes and standards, it was designed according to ISO 31000 best practices.

While web apps are not renowned for their security, Zulu Consulting understands that risk information is sensitive to every company and is something customers would not want to share with others. Therefore, the solution was built with multi-level security as a core component of the app, from the interface to the server.

Risk-IO is a web app that can be accessed on any computer with a browser, including mobile devices. The system is designed to guide users through the risk assessment process in a step-by-step manner to ensure that no stages are missed. However, Zulu Consulting recommends that only qualified individuals with experience conducting risk assessments and understanding risk management use it. Combining their skills and experience with the app’s standards-based approach will deliver optimal results.

Support and advice

Every application, no matter how well designed, requires correct configuration and support from the provider. Even though there are strict standards to adhere to when it comes to risk, every company’s implementation will be unique. Zulu Consulting, therefore, offers consulting and support services to clients to customise their solutions to their requirements.

Once Risk-IO is set up to the user’s specifications, all users are provided training to help them make full use of the system. Follow-up support is available and can be requested as needed.

With the data stored in the cloud, companies or projects of any size can use Risk-IO. Another benefit is that customers can securely host the app and their data on Zulu Consulting’s servers, simplifying infrastructure complexity, or they can install the system on their own servers – depending on the client’s requirements.

Standards-based risk

As noted above, Risk-IO has been developed according to the ISO 31000 standard of best practices. The standard is strictly enforced and does not allow users to change the processes or cut corners. This reassures companies and project managers that the integrity of the risk management process is maintained throughout the application, even when multiple users are concerned.

Risk management differs slightly in different industries, although the essential standards are the same. Apart from Zulu Consulting’s support in the set-up and running of the solution, the proprietary algorithm developed for Risk-IO offers users another advantage: it can be customised to suit any industry, environment, or project at any scale.

The following article in this series on Risk-IO will cover Mitigating Risks in Business Operations.

For more information, contact Roberto Vitale at [email protected]




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