Case Study
Customer: Woolworths
Industry: Retail
Headquaters: South Africa
Employees: < 10 000
About Woolworths
- Founded in 1931
- South African based multinational Retail company
- 218 full line stores and 430 food stand alone stores
- Johannesburg Stock Exchange listed
Phinity Risk Solutions
The Phinity Risk Solutions platform integrates into your risk and compliance processes to help you decrease your risk exposure. Boost your risk management capability and manage your organisational risks, from identification through to remediation with the help of our powerful solutions. Make informed decisions faster with our strong and relevant reporting based on your risk and compliance data.
Customer Project
Woolworths needs to complete ongoing, remote risk workshops. They were searching for a solution that could automatically calculate the risk of risk items based on the impact and likelihood votes of multiple stakeholders. The aim was to create efficiencies and increase the visibility of the risks across the business.
Challenges
The traditional approach to Risk strategy and workshops was a frustrating task that came with a lot of challenges. Aligning calendars delayed the in-person meetings and those meetings took up a lot of time. Mapping out the risk items manually after the workshop put a further strain on resources.
Results
Leveraging the Phinity platform to move the risk workshops and related data online allowed Woolworths to create efficiencies in their Enterprise Risk Management and full visibility into all risk items, status and ownership.