Every company is exposed to risks – independent of size or industry affiliation. This makes professional risk management an essential component of a successful corporate strategy. Protecting the company from impending risks is not only a voluntary exercise but also the duty of management. In accordance with the German Corporate Governance and Transparency Act (KonTraG), the management team must prove in a crisis situation that you undertook measures towards early risk detection and risk prevention. Risks are identified, evaluated, and managed using suitable strategies as part of the risk management process (Fig. 1).
We consider risk management to be a tool for creating added values. The holistic view of a company enables comprehensive risk analysis and, thus, the identification and evaluation of risks. The probability of occurrence and the effects of potential damage are analysed using statistical calculations. The capital costs for protecting the company can be calculated using these results. We optimize the type of risk management always in line with the individual needs of our customers. The initial focus here is developing strategies to avoid risks. Next, we weigh the extent to which the company is willing or able to bear costs by itself and what risks should be covered to what extent (Fig. 2). All these findings are recorded and organized with state-of-the-art IT support to cover our customer and preserve their commercial room for manoeuvre.