Enhance Governance Risk Management | Ricknetic Case Study

Executive Summary

Enhance governance risk management with Risknetic. Modernised UI, real-time tracking, automation & multi-language support boost efficiency & compliance.

The Environmental Social Action Plan (ESAP), also known as the Risknetic Platform, tracks and manages governance risks while enabling users to take informed actions. This platform supports Portfolio Managers and Investment Teams in monitoring risks and actions, while Client Admins and Client Managers create and manage projects, risks, and corrective actions efficiently.

The existing system needed modernisation to enhance its functionality, automation, and user experience. By rebuilding the system, we significantly improved real-time risk tracking, multi-language support, role-based access control, and bulk data management. This case study highlights the transformation of ESAP and the tangible benefits it delivered.

Project Overview

This project focused on optimising a web application and improving its UI/UX. The technology stack included AngularJS and Yii2. The project ran from January 2020 to January 2021, with a budget designed to be SME-friendly while allowing scalability for future growth.

The Client and Their Challenges

The client, responsible for managing governance risks and compliance across diverse portfolios and investments, faced multiple operational challenges. The previous system lacked efficiency and responsiveness due to outdated technology, resulting in sluggish performance and a suboptimal user experience.

Portfolio Managers and Investment Teams struggled to access real-time updates on risks and actions, leading to delays in decision-making and operational inefficiencies. Additionally, the legacy system lacked multi-language support, limiting accessibility for a diverse user base.

Role-based access control restricted administrators from configuring dynamic access permissions. The reliance on manual reporting slowed governance risk assessments, increasing errors and inefficiencies. Automation was essential to streamline reporting and improve overall accuracy.

Why They Chose Us

The client selected our team because of our expertise in developing scalable, user-friendly risk management platforms. Our approach prioritised automation, customisation, and enhanced tracking capabilities, ensuring a more efficient and intuitive system. See Our Services

The Solution

To address these challenges, we modernised and automated the system with key enhancements. We rebuilt the entire system to improve speed and user interaction, introducing an intuitive, dashboard-based UI for seamless navigation and risk tracking.

We developed a dashboard for instant monitoring of risks and actions, allowing Portfolio Managers and Investment Teams to track risk status updates in real time.

We integrated a dynamic language preference system, enabling users to switch languages effortlessly. Role-based access control received significant upgrades, offering more flexible role assignments and strengthening security protocols to ensure appropriate access levels for all users.

To eliminate time-consuming manual data entry, we implemented bulk upload capabilities, allowing administrators to import multiple risks and actions in a single operation. These improvements drastically reduced dependency on manual reporting.

Implementation Challenges and Solutions

One of the main challenges involved resistance to new technology, as some users hesitated to transition to the new system. We addressed this by conducting hands-on training sessions, helping users become familiar with the new UI and workflows.

Ensuring data integrity during migration posed another challenge, requiring robust data validation and backup protocols to prevent loss or corruption. Language compatibility issues also emerged when some translated text did not fit within UI constraints. We optimised the UI to accommodate variable text lengths, maintaining consistency across languages.

Results That Speak

Within six months of deployment, the platform delivered measurable improvements. Efficiency increased by 35% due to faster risk tracking and action management. Automated bulk uploads reduced manual reporting effort by 50%. Response times improved by 40% with real-time tracking, enabling quicker decision-making. The enhanced UI and role-based access control contributed to an 85% user adoption rate.

Lessons Learned

User training played a crucial role, with early engagement and training sessions ensuring a smooth adoption process. Customisation significantly influenced user satisfaction, as allowing clients to tailor dashboards and workflows led to higher adoption rates. Scalability emerged as an essential factor, with a flexible architecture supporting future system enhancements and ensuring longevity.

Next Steps

Future plans for the platform include integrating AI-driven risk prediction, using machine learning models to proactively predict and mitigate risks. Advanced reporting and analytics will provide customisable dashboards for deeper insights into governance risks and compliance trends. Additional regional language support will further enhance accessibility for a broader user base.

Transform Your Risk Management System Today

If your organisation requires a modern, scalable risk management solution, our team specialises in delivering tailored systems designed to improve efficiency and compliance. Let’s collaborate to create a future-proof platform that meets your unique needs. Contact Us now to start your journey toward streamlined operations and compliance excellence.