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Easy-to-use PI module: Several users have praised the ease of use of Pentana's PI module. They have found it to be very user-friendly and …
Overview
What is Ideagen Risk Management?
Ideagen's Enterprise Risk Management (ERM) software solution (formerly known as Pentana Risk) fully integrates risk management processes, from identifying and assessing risk business-wide, to assigning and monitoring mitigation plans, all the way through to reporting and defining a long-term strategy…
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What is Ideagen Risk Management?
Ideagen's Enterprise Risk Management (ERM) software solution (formerly known as Pentana Risk) fully integrates risk management processes, from identifying and assessing risk business-wide, to assigning and monitoring mitigation plans, all the way through to reporting and defining a long-term…
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Product Details
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- Competitors
- Tech Details
What is Ideagen Risk Management?
Ideagen Risk Management (formerly known as Pentana Risk) delivers a strategic view of enterprise risk and its effect on performance. It helps organizations to understand their risk exposure and respond in an agile way to opportunities and threats. Risk teams can report faster and with more accuracy using its live data dashboards, automated workflows, and centralized enterprise risk data. Using spreadsheets and manual systems can create blind spots where risks and their impact are unknown. Ideagen Risk Management connects the dots by linking every KPI, event, and outcome across the organization so that risk is fully understood. The platform offers flexibility for assessing risk in the way that works best for any particular business - scoring criteria and formulas are not dictated by the software. The Ideagen Risk Management SaaS platform is designed to be intuitive enough for any business user – from occasional users, to everyday monitoring of the risk lifecycle, with the goal of empowering risk management teams to focus their expertise on solving business problems instead of managing systems.
It is also designed to include everything needed to comply with regulations and standards that govern any business, including ISO, ESG, and financial conduct. Wherever it operates, and no matter how complex the business’s risk environment, Ideagen Risk Management keeps enterprise risk under control.
Ideagen Risk Management helps businesses to establish an ERM framework that allows them to manage operational, financial, IT, and strategic risks in a single risk management system. This risk software solution provides real-time metrics on all aspects of risk, such as performance, processes, and assets, to ensure that business leaders have complete visibility and are able to exercise agility in risk management.
Ideagen Risk Management Features
Governance, Risk & Compliance Features
- Supported: Common repository of GRC items
- Supported: Risk management
- Supported: GRC policy management
- Supported: Incident management
Additional Features
- Supported: Assurance Management
- Supported: Performance Management
Ideagen Risk Management Competitors
Ideagen Risk Management Technical Details
| Deployment Types | Software as a Service (SaaS), Cloud, or Web-Based |
|---|---|
| Operating Systems | Unspecified |
| Mobile Application | No |
| Supported Countries | Global |
| Supported Languages | English, can also be translated if necessary. |
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Community Insights
TrustRadius Insights are summaries of user sentiment data from TrustRadius reviews and, when necessary, 3rd-party data sources. Have feedback on this content? Let us know!
- Pros
- Cons
Easy-to-use PI module: Several users have praised the ease of use of Pentana's PI module. They have found it to be very user-friendly and intuitive, making it easy for them to monitor, record, and report on PIs efficiently. The positive feedback from multiple reviewers highlights the effectiveness of this feature in simplifying their tasks.
Clear display of risks: Many reviewers have appreciated how Pentana presents risks in a clear and understandable manner. The tree structure used to display risks has been particularly well-received, as it enables users to easily comprehend the different levels of risks, such as service and strategic risks. This clarity in risk visualization enhances the overall usability of Pentana.
Effective monitoring of various types of risks: Users have highlighted that Pentana is excellent for monitoring different types of risks at various levels. Whether it is service-related or strategic risks, several reviewers have stated that Pentana provides an effective solution for tracking and managing these risks. This versatility in risk monitoring capabilities adds value to the software for organizations dealing with diverse risk profiles.
Cons: Lack of document linking: Some users have found the free Documents module in Pentana Risk to be lacking, as they mentioned that documents need to be linked to an action in order to display query results. This requirement can be confusing for users who don't understand the purpose of the linked action. Difficulties in accessing assigned documents: Users have expressed frustration over the lack of an easy way to see the documents assigned to them. This limitation hinders their ability to efficiently manage and access relevant information. Confusing and inflexible Actions module: Several users have reported confusion when trying to fully utilize the Actions module for monitoring corporate projects that do not align with Pentana's monitoring methods. They find this module difficult and inflexible, hindering their ability to effectively monitor projects.
Attribute Ratings
Reviews
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November 23, 2020
Pentana Risk - generally great
Score 8 out of 10
Vetted Review
Verified User
We currently use Pentana Risk for risk registers, PIs and some documents (mainly health and safety). It's being used by managers across the organisation, including the senior leadership team. It addresses a variety of problems - not having to use a variety of MS Office products to produce reports/display information; succession planning/inheriting; users can access data as required without having to ask my team; ability to produce reports showing different cuts of data as required; golden thread - links between risks, business objectives and PIs.
- Pentana is excellent for monitoring, recording and reporting on PIs. Very easy to use the PI module.
- Pentana is excellent for monitoring risks at various levels (service, strategic etc.). Risks are displayed very clearly in a tree structure and the module is relatively easy to use.
- Pentana could improve the free Documents module that comes with Pentana Risk. At the moment documents have to be linked to an action in order to display query results (such as how many documents are due for review) - this can be confusing for users who don't understand why there is an action linked. There is also no easy way for users to see the documents that are assigned to them.
- We would like to use the Actions module fully in order to monitor our corporate projects, but it a bit confusing for users and not very flexible when a project doesn't mirror Pentana's way of monitoring actions.
40%
4.0
- Pentana Risk has allowed my team to focus on other areas of work whereas before we would be manually chasing for updates on PIs and risk. Pentana Risk does the chasing for us!
- We are able to produce reports for audit purposes very easily, rather than sending spreadsheets which is what we used to do.
- New managers can easily inherit risks, projects and PIs and see all of this on a custom portal, saving them time when they start.
We selected Pentana because our neighbouring authorities are users and had spoken highly of the product and given us demonstrations; some of our staff were also familiar with Pentana when it was called Covalent. It seemed to be the best product on the market for monitoring risks, PIs and projects.