Procurement of an Integrated Risk and Compliance Management System

Descriptions

Since 2010, Nest has been using excel to manage risk logs, the controls library, policy library, risk event management, insurance and compliance information, and these are all managed separately. As Nest grows and matures as an organisation, this is no longer fit for purpose as these are manual processes and there is a risk of multiple versions of the truth.

Nest has an ambition to be a data-led organisation and to support this we need a risk and compliance system that enables these sources to be integrated together. We need a risk system that will also easily integrate with Power BI or other reporting tools that will automate reporting and provide a single source of the truth without the need for multiple databases.

We intend to procure a risk and compliance system which has a high degree of functionality for its users and which eliminates the need for any such manual processes. We require this system to be flexible, user-friendly, intuitive to use, have user access controls, have an audit trail available, be able to share information easily across the organisation, and reduce the manual effort involved in submitting data and creating reports