Keeping up with regulatory compliance, particularly all of the aspects of the Health and Safety Act is a tall order. This is especially the case given legislation is subject to constant change.
With the daily demands of running a business to contend with, it can be a challenge to stay on top of everything you need to know, including legislation applicable to your industry type.
Beyond undertaking the necessary training and refresher courses, risk management software can help identify and reduce the risk of safety incidents in your workplace.
Here is an overview of what risk management software is, along with some of the benefits it can deliver to your business.
What Is Risk Management Software?
Risk management software is classed as any type of software that is designed to help businesses perform risk assessment activities.
Naturally, every industry from construction to manufacturing will have a different scope of risks that may apply to workers or the general public. The idea of risk management software is that it will be customised both to the industry and the specifics of how the business works.
In any scenario where managing risk is essential for regulatory compliance, risk management software can be used to identify, assess, monitor and reduce risks across operations. Typically, personnel such as HR, along with anyone involved in overseeing health and safety will use risk management software.
Examples Of Risk Management Software
- IBM OpenPages
- LogicGate
- MetricStream
- Resolver
- RiskWatch
- RSA Archer
- SAP GRC
Benefits Of Using Risk Management Software
Given what we’ve just noted above about the challenge of keeping up to speed with regulatory compliance and health and safety as a whole, an immediate benefit of using software is that it offers a centralised system for businesses. Since the software keeps everything in one place and can be accessed by all the applicable people, the information is much easier to digest and also share with the wider team.
The amount of information contained within risk management software often goes beyond what a human brain could realistically know, or remember at any one time. Likewise, the software also keeps up to date with changes, which works to reduce strain on employees by making use of automation.
Depending on the software, most tools are also scalable allowing them to grow alongside the changing needs of the business. Where this is the case, businesses can continue using the tool they are most familiar with, which can also contribute towards reducing risk.
Ensuring Compliance With Legal Regulations
There are no laws which state a company must use risk management software, although risk management in itself remains an integral part of health and safety.
Since risk management software differs, businesses must ensure the tools and features offer relevance to their industry and the applicable risks that exist.
Also, using software for risk management shouldn’t be seen as a substitute for following good practices elsewhere. For instance, taking steps to identify and reduce risks within daily operational tasks.
Metreel – Discover Our Handling, Fall Protection And Powerfeed Equipment To Improve Safety And Efficiency
Reducing the risk of injury or damage to equipment within industrial environments relies on having the right tools to do the job.
At Metreel, we can supply your business with several safety solutions that can also work to increase productivity.
If you’d like to find out more or have questions about our products please give us a call on 0115 932 7010 or fill out our contact form.