COSO

The Challenge

All organizations need to set strategy and periodically adjust it, with a consistent awareness of the ever-changing opportunities for creating value as well as the challenges that will arise in pursuit of this value. To do this, they need the best possible framework for optimizing strategy and performance. That’s where enterprise risk management comes into play. Organizations that integrate enterprise risk management across the business can achieve many benefits.




Committee of Sponsoring Organizations (COSO) is a voluntary private-sector organization. COSO is dedicated to guiding executive management and governance entities toward the establishment of more effective, efficient, and ethical business operations on a global basis. It sponsors and disseminates frameworks based on in-depth research, analysis, and best practices. Its most important framework, entitled Enterprise Risk Management — Integrating with Strategy and Performance, highlights the importance of considering risk in both the strategy-setting process and in driving performance.


COSO Solution

SoftExpert offers the most advanced and comprehensive software solution for compliance management that meets the stringent needs of various global regulations. SoftExpert Excellence Suite helps companies adhere to COSO framework while lowering the costs of compliance, maximizing success, increasing productivity and reducing risks.

The SoftExpert solution offers tools for the complete management of the organization’s risks and controls in compliance with COSO framework. With online collaboration capabilities, the organization and managers can identify and evaluate risks, implement and monitor controls, perform risk and control assessments, involving users, teams, offices and business units with a systematic and unified approach to obtain excellence in risk and control management.

Screenshots

Risk assessment

Risk response planning and monitoring

Tests and Control Self-Assessments

Risk monitoring portals


Strategy setting

Performance management


Main Benefits


 Increase the range of opportunities

 Identify and manage risk entity-wide

 Increase positive outcomes and reduce negative surprises

 Reduce performance variability

 Improve resource deployment

 Enhance enterprise resilience

 Align risk management with strategy and performance management

 Improve risk, compliance, control, and governance activities

 Facilitate compliance conformity with related regulations, including ISO 31000, ISO 27000, SOX and others