SmartStart

What is SmartStart?

The SmartStart for Operational Risk and Governance, Risk and Compliance (GRC) offers a pre-configured framework to support all assurance activities.. By using this standardised pre-configured solution, companies are able to take advantage of industry best practice, with the added benefit of having a system live and running in a matter of a few weeks. This lead time can be even shorter if the software is deployed through Optial's OpRisk on Demand or Software as a Service (SaaS) services.

By eliminating the need to install and run the application on the customer's own computer, Optial's SaaS approach alleviates the customer's burden of software maintenance, ongoing operation and support.

The functional scope of Optial SmartStart covers the management of operational risk and governance, risk and compliance using a series of workflow-enabled modules:

Incidents for Loss Events and any other type of events (Security, IT, Health and Safety, Customer Complaints)
Risk for Risk Registers, Risk Control Self Assessment and KRIs
Quantitative modelling - for a variety of modelling options
Compliance for Controls and Control Monitoring and Policy Distribution
Audit for Audit Management, recording and reporting on findings and Actions
Business Continuity Management
Integrated Advanced Reporting and Analytics (powered by OBI)
KPIs and Performance Management
Integration of external loss and other risk related data for consolidated reporting.

SmartStart Benefits

SmartStart gives firms the ability to:

Make more informed business decisions
Improve performance through better quality data
Gain greater flexibility to meet future expansion
Deliver integrated risk and compliance focus in a single, unified, scalable and adaptable solution
Improve accountability and visibility through workflow engine, audit trail and powerful real time reporting
Reduce costs and manual overheads.

Who should use SmartStart?

The Optial SmartStart solution provides a cost effective, robust platform that is ready to meet a range of data capture and future regulatory requirements, right out of the box. The solution reduces the overhead of manual data collection and provides a consolidated view of risk and compliance across the organisation.

SmartStart supports a variety of functions including:

Operational Risk Managers
Compliance Managers
Internal Audit Managers
EHS Officers-Security Officers
Policy Department Heads
Business Continuity Managers.

What does SmartStart include?

The Optial SmartStart for OpRisk implementation leverages best practice approach to operational risk and governance, risk and compliance management. Clients are able to create a solution based on the four pillars of: Governance, Risk, Compliance and Audit, knowing that the flexible system design of Optial can accommodate their configuration quickly and accurately, without any expensive changes to the source code base.

Optial SmartStart incorporates Optial Business Intelligence (OBI) module which provides managers at all levels with groundbreaking new capabilities to analyse, manage and monitor operational risk and compliance initiatives, resulting in true operational risk/GRC intelligence.