IsoMetrix Case Studies Senwes: Getting a grip on risk

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	Senwes: Getting a grip on risk IsoMetrix

Senwes: Getting a grip on risk

IsoMetrix

Technology Category	Functional Applications - Enterprise Resource Planning Systems (ERP)
Applicable Industries	Agriculture
Services	Software Design & Engineering Services System Integration
Challenge	Senwes, a leading agricultural company in South Africa, needed to implement Integrated Management Systems for Health, Safety, Environment and Compliance (HSEC), Enterprise Risk Management (ERM), Internal Compliance and Internal Audit. The ERM system was built to accommodate Senwes’s quantitative approach to assessing risk. Senwes monitors a risk register of around 260 identified risks within 22 risk categories throughout the Group. The group’s residual risk exposure range from USD 21 million with a very low risk tolerance level to around USD 42.5 million in catastrophic drought events. Senwes previously calculated their quantitative risks using spreadsheet-based systems that were not able to provide real-time information. They needed to replace these spreadsheets with a centralized, electronic system that would provide real-time risk assessment information. Read More
About Customer	Senwes is one of the leading agricultural companies in South Africa, with clients symbolising the heart of the company. The Senwes Group of companies is supported by three pillars - Input Supply, Financial and Technical Services and Market Access in eight of the nine provinces. The Senwes Group has an integrated business model to facilitate its core objective of making a meaningful contribution to food security in South Africa in a sustainable manner. The company has a rich and proud history which extends over a period of 108 years. Senwes monitors a risk register of around 260 identified risks within 22 risk categories throughout the Group. The group’s residual risk exposure range from USD 21 million with a very low risk tolerance level to around USD 42.5 million in catastrophic drought events. Read More
Solution	Senwes chose IsoMetrix to implement a real-time quantitative risk assessment solution. IsoMetrix provides a fully functional governance, risk and compliance (GRC) suite. This is in line with the internal objective with regards to Combined Assurance reporting. IsoMetrix also provided Senwes with a fully tailor-made solution implemented according to their selected preferences. The IsoMetrix software now allows Senwes to have real-time dashboards reflecting quantitative risks across the business for HSEC, Enterprise Risk Management and Internal Compliance. The IsoMetrix solutions needed to integrate with various third-party data sources containing Key Risk Indicators used to calculate risks. These are imported periodically into the risk management module that was configured to Senwes’s specific requirements. Read More Log in to view content
Contents

Technology Category

Functional Applications - Enterprise Resource Planning Systems (ERP)

Applicable Industries

Agriculture

Services

Software Design & Engineering Services

System Integration

Challenge

Senwes, a leading agricultural company in South Africa, needed to implement Integrated Management Systems for Health, Safety, Environment and Compliance (HSEC), Enterprise Risk Management (ERM), Internal Compliance and Internal Audit. The ERM system was built to accommodate Senwes’s quantitative approach to assessing risk. Senwes monitors a risk register of around 260 identified risks within 22 risk categories throughout the Group. The group’s residual risk exposure range from USD 21 million with a very low risk tolerance level to around USD 42.5 million in catastrophic drought events. Senwes previously calculated their quantitative risks using spreadsheet-based systems that were not able to provide real-time information. They needed to replace these spreadsheets with a centralized, electronic system that would provide real-time risk assessment information.

About Customer

Senwes is one of the leading agricultural companies in South Africa, with clients symbolising the heart of the company. The Senwes Group of companies is supported by three pillars - Input Supply, Financial and Technical Services and Market Access in eight of the nine provinces. The Senwes Group has an integrated business model to facilitate its core objective of making a meaningful contribution to food security in South Africa in a sustainable manner. The company has a rich and proud history which extends over a period of 108 years. Senwes monitors a risk register of around 260 identified risks within 22 risk categories throughout the Group. The group’s residual risk exposure range from USD 21 million with a very low risk tolerance level to around USD 42.5 million in catastrophic drought events.

Solution

Senwes chose IsoMetrix to implement a real-time quantitative risk assessment solution. IsoMetrix provides a fully functional governance, risk and compliance (GRC) suite. This is in line with the internal objective with regards to Combined Assurance reporting. IsoMetrix also provided Senwes with a fully tailor-made solution implemented according to their selected preferences. The IsoMetrix software now allows Senwes to have real-time dashboards reflecting quantitative risks across the business for HSEC, Enterprise Risk Management and Internal Compliance. The IsoMetrix solutions needed to integrate with various third-party data sources containing Key Risk Indicators used to calculate risks. These are imported periodically into the risk management module that was configured to Senwes’s specific requirements.

Impact #1	The initiative to implement the IsoMetrix ERM software has improved the company’s risk management maturity and culture as well as increased departmental efficiencies.
Impact #2	Internal post risk event evaluations have shown that by following a sound risk management methodology and having the adequate tools, such as the IsoMetrix solution, to support management we could timely and accurately report on the risk event exposures before and during an event with the exception of only a few.
Impact #3	The next step for Senwes will be to shift towards pro-active risk identification and reporting based on an early warning system in order to improve the risk management maturity towards its role as strategic advisor.

Impact #1

The initiative to implement the IsoMetrix ERM software has improved the company’s risk management maturity and culture as well as increased departmental efficiencies.

Impact #2

Internal post risk event evaluations have shown that by following a sound risk management methodology and having the adequate tools, such as the IsoMetrix solution, to support management we could timely and accurately report on the risk event exposures before and during an event with the exception of only a few.

Impact #3

The next step for Senwes will be to shift towards pro-active risk identification and reporting based on an early warning system in order to improve the risk management maturity towards its role as strategic advisor.

Benefit #1	Senwes monitors a risk register of around 260 identified risks within 22 risk categories throughout the Group.
Benefit #2	The group’s residual risk exposure range from USD 21 million with a very low risk tolerance level to around USD 42.5 million in catastrophic drought events.

Benefit #1

Senwes monitors a risk register of around 260 identified risks within 22 risk categories throughout the Group.

Benefit #2

The group’s residual risk exposure range from USD 21 million with a very low risk tolerance level to around USD 42.5 million in catastrophic drought events.

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Overview

Senwes: Getting a grip on risk

Operational Impact

Quantitative Benefit