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What is iCoRisk?

iCoRisk acts as a cutting-edge accelerator for corporate risk management by utilizing the Microsoft Power Platform, enabling organizations to monitor, mitigate, and manage different risk types—such as project, operational, and corporate risks—through a unified system. The platform offers adaptable risk scoring frameworks that support assessments of pre-, post-, and target-risk, while also linking risks to relevant controls and mitigation tactics, and automating essential tasks like notifications, email alerts, and approval processes. Users have the ability to effectively associate risks with various departments, correlate project-specific risks with ongoing business risks, and utilize real-time, dynamic dashboards and reports powered by Power BI, giving stakeholders an insightful overview of risk registers and current mitigation strategies. Moreover, as part of Microsoft 365 and the Power Platform, iCoRisk guarantees smooth integration with Azure, Teams, and an array of third-party applications, enhancing collaboration and embedding risk management practices into daily business operations, which significantly boosts overall operational productivity. This comprehensive strategy not only optimizes risk management procedures but also equips organizations to tackle challenges in a proactive and effective manner, ultimately fostering a culture of resilience.

What is T-NEX AI Risk Manager?

The T-NEX AI Risk Manager is an all-encompassing tool tailored for risk management in banks, insurance firms, and other regulated organizations. It boasts a comprehensive register that allows for the meticulous documentation of diverse risks, their categories, assigned owners, present statuses, evaluations, mitigation strategies, controls, processes, incidents, relevant attachments, and any alterations made. Users can easily navigate this register through search and filter functions, link controls to related risks or processes, and log incidents alongside pertinent loss information and contributing elements. With its advanced AI features, the application can create editable risk proposals based on incident descriptions, offer suggestions for likelihood and impact evaluations, and analyze particular scenarios in light of the current risk and control inventory. The insights generated include potential impacts, affected controls, and advisable measures for the responsible team to consider. Furthermore, the software provides a streamlined workflow that guides users from the initial stage of assessment to treatment and ultimately to reassessment, monitoring, or closure; it is important to note, however, that its scenario analysis serves as a textual working hypothesis rather than a rigorously validated quantitative stress test. In essence, this tool proves to be essential for organizations striving to effectively manage and reduce risks while maintaining compliance with regulatory requirements. Consequently, its integration can significantly enhance an organization's risk management processes and outcomes.

Media

Media

Integrations Supported

Microsoft 365
Microsoft Azure
Microsoft Dynamics 365
Microsoft Power BI
Microsoft Power Platform
Microsoft Teams

Integrations Supported

API Availability

API Availability

Pricing Information

Pricing not provided

Pricing Information

Pricing not provided

Supported Platforms

SaaS

Supported Platforms

Not specified

Customer Service / Support

Standard Support
Web-Based Support

Customer Service / Support

Not specified

Training Options

Documentation Hub
Webinars
Online Training

Training Options

Not specified

Company Facts

Organization Name

iCoTech Services

Date Founded

2018

Company Location

United Kingdom

Company Website

icotechservices.co.uk/icorisk/

Company Facts

Organization Name

T-NEX GmbH

Date Founded

2024

Company Location

Germany

Company Website

t-nex.de/institute/produkte/ai-risk-manager/

Categories and Features

Risk Management

Not specified

Categories and Features

Risk Management

Not specified

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