FRSGlobal a provider of risk and compliance reporting solutions, has announced a partnership with QUMAS that will see the integration of FRSGlobal’s risk management capabilities with QUMAS’s government, risk and compliance (GRC) suite.
FRSGlobal RiskResolve software will provide risk management capabilities for the QUMAS GRC suite, and will enable them to combine their expertise in the compliance and regulatory risk and reporting arenas.
FRSGlobal believes the integration will allow global organisations address regulatory challenges holistically, and incorporate these challenges into a broader risk management programme. The company argues that this will improve controls and could improve users’ profits through reduced operating losses and lower earnings volatility.
“The combination of QUMAS and FRSGlobal RiskResolve will allow the documentation of risk appetite, losses, risks, controls and procedures in a single suite,” said Stephan Schmitz, product manager, ORM, FRSGlobal, in a statement.
Kevin O’Leary, CEO of QUMAS added: “Organisations can build a proactive regulatory defence as well as confidently predict where potential exposure lies in their organisations.”