From Belgian chocolates to brilliant solutions!

We hope you enjoyed the delicious Belgian chocolates. But that's just the start! Request a demo of Pelican, our powerful risk management solution, and receive a Galton Board as a gift, delivered straight to your home.

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How a risk register supports risk management

Identifying all the operational risks that are faced by an organization, and then assessing their likelihood and potential impact, enables the organization to rank risks and focus mitigation efforts on managing the most important risks. Listing all the control and mitigation efforts, along with who is responsible for ensuring those efforts are implemented and maintained, makes it possible for an internal audit function to check whether the processes are being followed.

A risk register mostly addresses event-driven operational risks like accidents, failures to comply with a law, fraud, errors in business processes, etc. It is unsuitable for assessing commercial risks that threaten the strategic objectives of an organization, like the effects of competition, changes in market size, inflation, supply chain uncertainty, cost overruns, or delays in launching key products. Other analytic tools like ModelRisk and Tamara are used for assessing these risks.

The value of a quantitative risk register

Qualitative risk registers, although common, do not provide the necessary information for effective risk management. Pelican’s risk register is fully quantitative. Risk quantification provides numerous benefits that are not possible with qualitative methods:

Unify the risk management strategies across the different disciplines of an organization
Unambiguous, flexible evaluation of risks that make the greatest use of available information
Precise risk ranking to identify the key risks that jeopardize the achievement of corporate objectives
Aggregation of risk exposure and compare against your risk tolerance
Evaluate and optimize the effectiveness of risk management strategies
Use cost-benefit analysis to maximize the efficiency of risk treatment
Save on insurance premiums by optimizing coverage parameters

Pelican Risk Register features overview

Quantitative heat map showing top risks and effect of controlas and mitigations

Quantitative heat map showing top risks and effect of controls and mitigations

Quantitative KPIs of any design using data help in Pelican

Analysis of dependency on third parties for managing risk

Bowtie map diagram for risk with different drivers, consequences, preventing and mitigating barriers

Full quantitative bowtie risk analysis with multiple consequence types

Bowtie map diagram with interlinked risks

Risks can be linked to other risks to describe cascading effects

Two bowtie risk map diagrams connected together - one risk causes another to happen

Interconnected risk maps to automatically view the whole causal chain

Several bowtie risk map diagrams sharing common cause factor (driver)

Drivers (causal factors) shared across risks creating natural interdependencies

Several bowtie risk map diagrams sharing common consequence

Consequences can be shared across risks to show the same consequence can arise from several risks

Interface showing history of changes and incidents for the specific risk

Automatic log of any changes to risk data. Attach files and comments.

Informational dashboard for risk with various types of charts and statistics

Deep level of analysis of individual risks. Includes FAIR-style analysis for cyber risks

Dashboard with analytics for managing risks scenarios

Scenario analysis to automatically determine the most cost-effective way of managing a risk

Financial exposure chart and statistics with aggregation by entity and comparison with risk tolerance thresholds

Automated simulation and aggregation of financial exposure by entity and comparison with risk tolerance thresholds

View list of top financial risks ranked by their VaR

List of people with calculated value of responsibility in company risk management

See which people are most relied on for managing risks and ensure the responsibility is well-distributed for greater resilience

Simple data entry for individual risks, or use bulk data entry tables

A library of ready-made report templates to generate new reports with a couple of clicks

Report template designer visual interface

Create your own report template with drag and drop. Edit or duplicate existing reports.

What you can expect from us

VOSE began its journey as a risk analysis consultancy specialising in providing its clients with the best available information for making decisions in the face of uncertainty. Our approach was to find the simplest and clearest analysis that compared the different decision options, using the most defensible data and assumptions, and present them in the clearest possible way to the decision-makers. The software we produce is designed around that philosophy. Whilst we strive to make our software products the best they can possibly be, they are still only tools.

We have been performing risk analyses for over thirty years – using our own tools. We want you to get the maximum value from using our software. When you purchase a license from us you can expect:

Honesty

We won’t overcharge, hide costs or misrepresent our products

Flexibility

Customers often have some kind of issue with licensing, budgets, or billing. We’ll try to help find a solution

Curiosity

We like to hear how you use our software, and how you think we can improve it

Responsibility

Technical support is our #1 priority. We prioritise taking care of the customers we already have over getting new ones

Expertise

Our customers benefit from tailored training on risk analysis (not just software familiarisation) or access to advice on how to build a model, describe a risk, present a report – all from seasoned experts