Incom's Risk Exchange ready to help fight terrorism and SARS

FOR IMMEDIATE RELEASE: Sydney, Australia, May 9, 2003. How do multi-branch, multi-division or international organisations manage risks consistently across their organisation? How do government agencies inform industry of potential risks in a timely manner? How do small to medium companies best manage the cost of risk assessments?

INCOM, a Sydney based company has released a ‘Risk Exchange’ enhancement to their Risk Register (Version 1.3), a software package that manages risks and risk treatments following the world’s leading risk management standard AS/NZS 4360.

David Watson, the Managing Director of Incom says that Risk Exchange will see risk management move from a standalone backroom specialist function towards communities sharing information on general risks such as personnel and property security. Although companies will not share competitive operational information, they will be able to exchange details of risks related to health and safety, infrastructure, terrorism and more lately SARS.

Risk Exchange allows an organisation to set up distributed risk registers by line of business, location or business hierarchy, and then selectively and securely pass risk information between registers. Organisations normally have some common categories of general risks in each register. It allows a central risk management group to assist business managers better manage their risks, and to escalate highest risks to other levels or locations.

In addition, industry associations and/or government organisations will be able to securely notify interested parties of risks and their assessments. Risk Assessors may also use the system to selectively broadcast the latest risk advice to subscribing clients (e.g. small to medium business) who do not have the resources to undertake these risk assessments themselves.

During 2002, Incom was contracted to provide analysis and design of IT systems to support delivery of security to Athens Olympic Games, 2004. Working with Intelligent Risks, whose CEO Neil Fergus headed up the Sydney 2000 Olympic Intelligence Centre, the team advised Greek police on IT applications and systems necessary to help manage security and to interface with coast guard, fire department, and the national security agency. The applications supported proactive intelligence activities, risk management and incident management.

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