Enterprise risk management for higher education
Strategically manage risk from campus hazards to operational and financial risks
Identifying potential risk from workers compensation and campus traffic accidents, to financial data fraud and student privacy requirements can help your institution take a predictive approach to managing risk across your campuses. The enterprise risk management solution for higher education from IBM is a framework designed to identify and evaluate potential risks to your organization, and help facilitate an appropriate risk management and response strategy.
Identify patterns for smarter risk management
The first step to proactive risk management is identifying potential risks across your organization. By pulling instrumented data from across multiple functions—such as annual insurance expenditures, claims losses, student and employee headcount, emergency management compliance, hospital center data, workers compensation, financial performance data, contracts and grants compliance, public safety and police data, campus fleet management, building maintenance and construction data—your organization can uncover risk patterns.
The enterprise risk management solution centralizes that data in a data warehouse environment, connecting it and making it more accessible to business users, while automated updates provide transparency to help reduce errors. We can help you integrate claims losses with university risk exposures in addition to linking together a number of disparate data sources. Our solution is designed to help your organization not only identify potential risk, but also visualize this data to conduct intelligent data analysis and interpret the results to implement strategies that can help mitigate future risk. Built on IBM® Cognos® Business Intelligence, the enterprise risk management solution can help transform mountains of data into clear, actionable information for strategic risk management.
Quantitative analysis to support better decision making
Our solution supports risk management across operational, compliance, financial, reputational, communication and strategic risk areas, and is designed to help you:
- Establish support for leading risk governance and compliance processes.
- Provide stakeholders at multiple levels with the information they need when they need it to manage risk.
- Identify risk patterns and potential hazards based on organizational data and analysis.
- Offer improved visibility into potential risks, supporting risk avoidance and risk mitigation activities to lower the overall cost of managing risk across the institution.
- Provide access to trends in key performance indicators (KPIs) for executives, decision-makers and operations staff alike to improve resource allocation.
- Standardize risk management operations on a common platform to improve data quality and facilitate user collaboration.
Integrated data for strategic risk management
The enterprise risk management solution provides a suite of services specific to higher education. Your solution may include the following software:
- Cognos software delivers a complete range of business intelligence capabilities, including reporting, analysis, dashboards and scorecards, on a single service-oriented architecture (SOA).
- IBM DB2® is an optimized database that delivers industry-leading performance across multiple workloads, while lowering administration, storage, development and server costs.
- IBM WebSphere® Application Server provides custom Web controls applications, including Java™ Platform, Enterprise Edition (Java EE).
- IBM Lotus® Portal allows your partners, employees and customers to choose their user experience, with personalized applications based on role, context, actions, location, preferences and team collaboration needs.
- IBM InfoSphere™ information integration, master data management and data warehousing helps you achieve real-time access to business information and an enterprise-wide view of your critical business data.
- Lotus Forms enables data collection, process automation, and a reduction in both data transaction times and error rates. It supports “Go Green” initiatives and related environmental impacts by further reducing the storage of paper, printing and distribution costs.