MasterControl's enterprise risk management software is designed to automate the entire risk process, and to ease the major issues and challenges associated with managing risk. Moreover, a risk management solution from MasterControl allows regulated companies to connect their risk management process with other quality processes, such as CAPA management and audit management, to control their organizational risk in an enterprise-wide fashion.
As the regulatory environment continues to shift toward a more risk-based approach to quality management, more and more regulated companies are relying on enterprise risk management software systems to develop strategies to minimize risks related to products, processes, and services. An enterprise risk management solution may be called upon to address a number of challenges related to assessing and managing risk such as how to identify the most risk prone areas, how to define risk categories, and how to document and store risk mitigation activities in product and process design. In a large or growing company, it is almost impossible to manage risk and demonstrate compliance without an integrated risk software solution. Of course, the benefits of effective risk management go far beyond avoiding compliance violations. Well managed compliance planning can add real value to the organization, which is why so many best-in-class life sciences companies view it as a strategic imperative.
MasterControl's enterprise risk management software, MasterControl Risk™, is robust and flexible enough to manage all types of risk that can affect the safety and reliability of products and directly impact brand equity. It enables organizations to identify measure, categorize, monitor, and manage all of their risk-related activities in a single repository, giving the organization a complete and accurate picture of its entire risk landscape. This comprehensive view is a key component of the most effective enterprise risk management systems, and is essential for any company that hopes to remain compliant, profitable, and competitive in today's evolving global market.