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01
Enterprise Risk Management
Usage Assessment
Regularly review how ERP licenses are currently being used, identifying any underutilized or improperly allocated licenses.
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02
Enterprise Risk Management
Align Licenses with User Needs
Tailor ERP licenses to match the specific roles and requirements of users to avoid overspending on unnecessary functionalities.
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03
Routine Adjustments
Continuously adjust licenses in response to changes in organizational roles, employee turnover, and evolving business needs.
04
Negotiate Terms
Use insights from assessments to renegotiate more favorable terms and flexible options with ERP providers, ensuring alignment with actual usage and needs.
ERP License Optimization is a strategic approach focused on effectively managing and utilizing the licenses associated with Enterprise Resource Planning (ERP) software. This process is crucial for organizations that rely on ERP systems to manage various business functions, as it ensures that the organization is not overspending on unnecessary licenses while maintaining compliance with vendor agreements.
Features :
✔ Dynamic User Tracking: Monitors user activity within the ERP system, including login frequencies and transaction histories, to ensure efficient use of licenses.
✔ Role-Based Access Control (RBAC): Assigns roles based on job functions through a dashboard, optimizing license usage by ensuring necessary access without excess.
✔ Automatic Role Adjustment: Adjusts user roles based on activity, ensuring costly licenses are allocated to users who need them most.
✔ License Reassignment Suggestions: Analyzes user activity to suggest reallocation of licenses, potentially reducing the need to purchase additional ones.
✔ Cost-Performance Analysis: Provides insights on the cost-effectiveness of licenses, aiding in investment decisions.
✔ Real-Time Compliance Alerts: Monitors compliance with ERP vendor agreements, alerting administrators to discrepancies like license overuse.
✔ Audit-Ready Reporting: Offers tools for generating detailed compliance reports, facilitating preparation for vendor audits and compliance documentation.
Benefits:
✔ Cost Savings: Optimizing the allocation of licenses and eliminating unnecessary ones allows organizations to significantly cut ERP-related expenses.
✔ Increased Productivity: Appropriate access levels enable users to work more efficiently, minimizing disruptions due to access issues.
✔ Risk Mitigation: Continuous monitoring for compliance helps avoid financial penalties and legal issues related to non-compliance.
✔ Strategic Decision-Making: Insights into license usage and costs aid in making informed decisions about ERP strategies, future license acquisitions, and negotiations with vendors.
Asked Questions
Q. What is Enterprise Risk Management (ERM) and how does it benefit an organization?
ERM is a strategic approach to identifying, assessing, and managing risks across an organization, enhancing decision-making and operational resilience. It helps in proactively addressing risks to ensure business continuity and achieve organizational goals.
Q. What makes iRMCloud's dashboards essential for effective ERM?
iRMCloud's easy-to-use dashboards provide a centralized, intuitive view of all risk-related data, making it simpler for managers to monitor, analyse, and respond to risks in real-time, thereby improving the efficiency and effectiveness of the organization's risk management process.
Q. How does IRMCloud improve the ERM process with its features?
iRMCloud enhances ERM by offering user-friendly dashboards for a clear overview of risks, latest risk insights out-of-the-box for immediate risk identification, an inbuilt risk matrix for simplified risk evaluation, and regular updates to stay aligned with evolving risk landscapes.
Q. How does the inbuilt risk matrix in iRMCloud support better risk decision-making?
The inbuilt risk matrix in iRMCloud simplifies the complexity of risk assessment by categorizing risks based on their severity and likelihood, aiding in prioritizing risks and formulating strategic responses, thus making the decision-making process more streamlined and data-driven.
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