If you would like more information about the profile please click
. You will be directed to a new page where you will need
to provide some information about yourself/your business cooperation needs and submit
your expression of interest in the profile . A Network Partner will then contact
you to discuss your interest in greater detail.
An ICT SME from Bosnia & Herzegovina offers innovative enterprise risk management (ERM) software technology. The advantages are that it uses a highly customizable risk assessment algorithm that enables computer support in all phases of risk management process, and it is applicable in areas of business processes, projects and critical infrastructure.
The company is looking for partnership via commercial agreement with technical assistance, license agreement or technical cooperation.
The ICT company from Bosnia & Herzegovina, was established in 2001 focusing on design, development and maintenance of commercial and standardized software applications as well as customized software solutions according to the needs of a specific client/business. The company also provides consulting services in the field of development of information technology projects (from concept to detailed design), system analysis, design, database modelling, customization of database to customer’s needs and education of users (design, modelling, database, etc.). From its establishment until today, the company has successfully designed and implemented complex information systems based on advanced information technologies such as revenue allocation system for local government, enterprise resource planning (ERP) system for food industry, information systems for universities, elementary & high schools and local government, loyalty card systems, point-of-sale solutions and integration with SAP for a telecom operator, etc.
For any organization, one of the main issues that must be addressed is their risk management process(es): determining the objectives of the organization, identifying exposures to loss, measuring those exposures, selecting alternatives, implementing a solution and monitoring the results. Existing and available software solutions are mainly based on simple algorithm of risk assessment which use variables 'impact' and 'likelihood/probability'. They are not flexible regarding customization of algorithm and aspects of risk assessment.
This ERM software enables computer support to the user in all phases of risk management process i.e. in analysing, evaluation, ranking, treatment, monitoring and control of the risks from different sources. The main characteristics of the software are:
- Simple customization to user’s requirements – user could define her/his own rules, model and variables that she/he wants to use.
- User defines aspects for risk monitoring, control and number of criteria she/he will have per each aspect and variable.
- Automatically generated matrix of probability and impact for every aspect on the base of risk tolerance, which is defined by the user.
- Possibility to import existing user project into software from MS Project file.
- History and traceability of risk assessment
- Registration of events related to defined risks.
- Geographic risk monitoring using Google maps.
Software is built on Oracle database and can be used as a web service (software as a service) or as a product, implemented in its own environment. Software was built on the basis of multidimensional risk assessment (MRA) methodology.
The company is interested in finding partners for commercial agreement with technical assistance. The company will offer software and technical assistance to commercialize this ERM technology within partner’s geographical area.
The company is also interested in finding partners for technical cooperation agreement. The company will offer its knowledge and technical assistance to jointly develop a customized version of the software solution to meet needs in risk management of specific clients / sector.
It is also interesting for the company to find partners for license agreement. The company will offer technical assistance in order to integrate this ERM technology as additional functionality within partner’s complementary software solution.
Advantages of the software are:
- It enables full parametrization i.e. customization to the needs of users. Users are able to define and setup variables of model, aspects and evaluation criteria for each individual aspect. The software automatically generates a matrix of probability based on parameters defined by users.
- The software provides recording of events associated with risks, stores related documents in digital form, as well as complete history and traceability of risk assessment.
Unlike the existing solutions available on the market that are mainly based on simple algorithm of risk assessment which use variables 'impact' and 'likelihood/probability', innovations provided by this software are:
- The software uses multidimensional risk assessment (MRA) methodology which introduces additional variables of 'threats', 'resistance on threats', 'vulnerability' and 'consequences' on 'human' and 'assets', The user is able to define his/her own algorithm of risk assessment using combination of provided variables.
- The software provides the user with the ability to define multiple aspects to monitor and assess the risks.
- Tolerance level of risk matrix is another flexible issue and it is defined by the user, ranging from 3 to 10.
The B&H company is looking for industrial partners i.e. SMEs in the field of information and communication technologies that offer solutions for sectors such as finance & banking, project management, manufacturing, infrastructure construction & management, etc., preferably with existing clients in need for ERM solutions.
Role of the partner:
- In Commercial agreement with technical assistance, it is expected from the partner to commercialize this ERM technology within their geographical area,
- In License agreement, it is expected from the partner to integrate this ERM technology as additional functionality within their complementary software solution,
- In Technical cooperation agreement it is expected to jointly develop a customized version of the software solution to meet needs in risk management of specific clients / sector.