IBM OpenPages® is an AI-driven, highly scalable governance, risk, and compliance (GRC) solution. OpenPages enables organizations to centralize siloed risk management functions within a single environment to identify, manage, monitor, and report on risk and regulatory compliance.
OpenPages serves as the foundation for a company's enterprise risk management (ERM) efforts by unifying enterprise-wide risk and compliance initiatives into a single management system. With its solutions for areas such as ESG, data privacy, operational risk and more, OpenPages provides a modular and integrated approach to governance, risk, and compliance.
Each component provides a highly configurable capability that supports your specific methodology, without having to write custom code, whether in loss events, KRI, or any other solution component. The result is that companies can embed risk management into the business and improve outcomes over time.
IBM OpenPages solutions
IBM OpenPages consists of the following solutions:
- IBM OpenPages Operational Risk Management (ORM) provides a fully integrated operational risk solution, including risk control self-assessments (RCSAs), key risk indicators, (KRIs), loss event data management, and advanced reporting and business intelligence with IBM® Cognos® finance integrated risk management. Dashboard components are available to provide an enterprise-wide view of risk across the business and manage Basel II AMA compliance in the banking industry.
- IBM OpenPages Business Continuity Management (BCM) is used by an organization, or group, to maintain or resume a predetermined level of operations during or after a disruptive event. All risks that can potentially impact the business during or following an event are identified.
- IBM OpenPages Data Privacy Management (DPM) is used by an organization to aid in complying with data privacy regulations. Using DPM, organizations can have clear visibility of all their private or sensitive data and ensure that the data is being handled correctly.
- IBM OpenPages Risk Management for ESG (ESG) is used by an organization to help manage their environment, social and governance priorities, strategic objectives, and compliance.
- IBM OpenPages Financial Controls Management (FCM) reduces the time and resource costs that are associated with ongoing compliance for financial reporting regulations.
- IBM OpenPages Model Risk Governance (MRG) supports organizations in organizing and centralizing their Model Inventory.
- IBM OpenPages Policy Management (PCM) provides an integrated solution for reducing the complexity of complying with numerous industrial, ethics, privacy, and government regulatory mandates.
- IBM OpenPages IT Governance (ITG) provides a risk-based, policy-driven approach to managing risk and compliance initiative for the IT organization.
- IBM OpenPages Internal Audit Management (IAM) provides an integrated audit management solution to manage the full life cycle of internal audits.
- IBM OpenPages Regulatory Compliance Management (RCM) supports organizations in breaking down regulations into a catalog of requirements, evaluating its impact to the business, and creating actionable tasks.
- IBM OpenPages Third Party Risk Management (TPRM) supports firms in assessing and analyzing risks that are associated with the vendors they do business with.