SeeCommerce and KPMG LLP deliver new operational risk management solution

SeeCommerce, a provider of supply chain performance management applications, and KPMG LLP, the US audit and tax firm, have jointly launched SeeRisk, a new enterprise performance management package. SeeRisk combines KPMG's experience in operational risk management and financial reporting with SeeCommerce's performance management software and methodology to enable enterprises to identify operational issues early, directly assess their impact on financial reporting, and take corrective action.

"Risk management, often thought of as the province of specialists in the financial services and energy sectors, is now a major factor in implementing an enterprise performance management (EPM) framework," said John Hagerty, vice president of research for leading business and technology advisory firm AMR Research, in an AMR Research Alert. "SeeRisk provides this link to allow executives to connect the dots between different silos of business data."

KPMG and SeeCommerce developed SeeRisk to assist executives in the daily management of their business operations with software that:
* Monitors internal controls,
* Facilitates a deeper understanding of the operational and financial risks,
* Provides the ability to take actions to mitigate those risks,
* Assists in quantifying the resulting impact,
* Responds to market opportunities,
* Improves business performance.

SeeRisk consists of two components: an operations assessment conducted by KPMG to uncover areas of operational risk within an organisation, and performance management applications from SeeCommerce to help identify and resolve critical supply chain and operational issues. The SeeRisk operations assessment focuses on risk mitigation and operating performance improvement. The SeeRisk performance management system is configured to each user to address the company's unique requirements by targeting specific business processes, and their interrelationships, across the supply chain.

"Operations drive financial performance. Therefore, every business and operational decision carries with it a certain inherent amount of risk that can affect a company's bottom line," said John Rittenhouse, managing director of KPMG LLP's National Operations Risk Management services. "Decisions that once meant a revenue shortfall can now pose significant financial hazards for a company. SeeRisk can help senior executives understand the impact of their operational decisions, in turn allowing companies to remain nimble and competitive."

"To gain a competitive advantage, companies are striving to improve and exert greater control over business processes," said John Ferraro, president and CEO of SeeCommerce. "SeeRisk helps executives to manage risk effectively by pinpointing operational problems early and correlating the impact these will have on the bottom line."

www.seecommerce.com
www.us.kpmg.com

•Date: 7th November 2003 •Region: N.America •Type: Article •Topic: Operational risk
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