As a rapidly growing company First Utility’s demands on its risk management team were also growing rapidly. With a manually intensive approach to risk management they needed to move to a built for purpose risk management solution, rather than continuing to rely on Excel and sheer man power.
In making this change, First Utility wanted to find an intuitive technology combined with exceptional service and support. These points were seen as key to managing stakeholder buy-in and adoption of a new technology across the business.
The solution had to be able to deliver significant efficiency gains for the risk management team, whilst providing self-service reporting across 40 departments and giving the risk management team a real-time view of the status of mitigating actions.
First Utility selected CoreStream to supply their risk management technology solution. Existing risk content was cleansed and uploaded into the platform and a data structure was configured to their existing risk register (with linked controls and mitigating actions) – enabling the seamless management of many to many relationships.
First Utility has a real time view of risks for each of their 40 departments and an aggregated view across the organisation as a whole. The status of risks and associated actions is now available at the click of a button, saving significant amounts of time and removing the requirement to manually compile reports for their risk committee meetings.
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The CoreStream Platform has enabled our business to transition from a manually-intensive risk methodology to a fit for purpose risk management system. The support we have received from day one has been second-to-none. I have no regrets with choosing CoreStream for our GRC; the platform has enabled a higher level of stakeholder buy-in due to its ease of use and reporting functionality.
IT Risk and Assurance Manager, First Utility
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