AuditBoard has launched Scenario Planning, a tool that enables risk teams to model potential risk events and their outcomes, the Seattle-based risk management platform provider said.
The tool allows users to establish potential scenarios, model the likelihood and impact of risk events, and test thousands of potential outcomes. AuditBoard developed Scenario Planning to help organizations shift from reactive risk reporting to proactive risk anticipation.
“Scenario Planning enables enterprises to ensure continuity in operations and improve competitive positioning, reducing bottom-line costs and increasing revenue,” Happy Wang, chief product and technology officer at AuditBoard, said in a news release.