What’s the biggest risk in your department? Hint: It might not even be a what, but a who. People, processes, and systems are all contributors to risk.
With so many potential causes, it’s difficult to track down the exact sources of operational issues - difficult, but not impossible. Stave OperationsPath offers an innovative way to identify your operational risks and mitigate them efficiently. Here’s how.
Real-Time Risk Management
Timing is crucial when it comes to risk management. Every passing moment allows problems to worsen, data to be lost, and private information to be compromised.
One study found that the average financial firm took 98 days to detect a data breach. Big retail companies took a staggering 197 days. Even after discovering the issue, the average company still needs about 29 more days to notify affected parties and begin remediation.
OperationsPath allows companies to conduct real-time risk management that stops problems before they start. If a security risk does arise, your team can address it instantly and prevent it from getting worse.
Gain real-time visibility into every department’s operations activities, requests, issues, and risks. Use this transparency for insight into new procedures and rules that need to be put in place, so you can minimize risk across the company.
Automation is another aspect of minimizing risk. It comes with the benefits of standardizing processes, limiting human error, and ensuring everything flows smoothly from start to finish.
As you look through your department for hidden risks, pay attention to anything that is still being done by hand. That’s a huge red flag. Manual work leaves room for error.
With OperationsPath, you can automate many tasks that used to be completed by hand. Automate submission of requests, reporting of issues and incidents, and how your team checks off tasks as they’re completed. Errors are minimized and the entire process is more efficient.
Did you know that a small business with fewer than 100 employees can lose more than $400,000 a year due to miscommunications? Simple, day-to-day misunderstandings cause persistent issues like overpayments, lost customers, missed opportunities, and financial misstatements.
A single employee who consistently makes mistakes can cost your company thousands of dollars a year. If you track these mistakes to their sources and do some retraining, the risk can be minimized.
OperationsPath cures a common problem: fragmented communication channels. It offers a centralized communication path, making it easy to share information and track every detail along the way.
Transparency and Auditability
Every organization is accountable, to regulators, shareholders, contractors, vendors, the law, and the IRS. Providing documentation is essential. How is your documentation?
OperationsPath supports the creation of formal documentation and the completion of complex activities that come with auditing. Through a detailed method of case management, it guides your team toward proper documentation and reporting.
It’s a breath of fresh air for auditing, which is usually a stressful experience. The transparency offered by OperationsPath adds openness and accountability to the entire process.
Next Step: Free Trial
Do you need insight into the biggest risk in your department? If so, OperationsPath is the secret weapon you’ve been seeking.
Our mobile-friendly, cloud-based solution simplifies and optimizes your operations activities. It’s flexible, intuitive, and easy to use. Our clients see serious increases in productivity as they minimize company-wide risk.
To experience the benefits of OperationsPath, try it for free in the ServiceNow Store or contact Stave for more information. We’re ready to help you manage risk and bring clarity to the operations of your entire enterprise.