Risk Management is ‘core’ to accounting propositions that improve client relationships

Accountants and business advisers are turning to risk management and mitigation to enhance client relationships and to offer a service differentiator – which is leading to enhanced client engagement.

At the Risk Dashboard we have seen a very positive increase in accounting firms who are adding risk management and mitigation to their services, many of which have deployed the FREE edition of our COVID-19 secure management tool, to assist their clients through this crisis.

So what are the advantages of risk management solutions and why has it become such a keen focus, and what have its advantages been and its role during the COVID-19 crisis in identifying mitigation measures?

95% of SME’s don’t have the luxury of having a ‘risk manager’, nor access to an expert who can help them identify and mitigate against risks.

That is where the Risk Dashboard’s free COVID-19 edition has supported SME’s to navigate their way through this crisis and to begin strengthening their businesses, we focussed our modules on the following key business impacts;

1. 1. Finance – “cashflow is king”, we developed 20+ questions for businesses when it comes to how to manage cashflow
   2. Outsourced suppliers – where can you save additional costs, can your business suspend non-essential services and suppliers
   3. Office and Infrastructure costs – what fixed and non-fixed costs can you review in your business that will have a positive impact
   4. Transport & logistics – have you reviewed your fleet & transportation costs
   5. Business Management review – from HR and H&S to cashflow projections and utility costs, a further 20 thought provoking questions to review in your business
   6. Return to work – having a plan to safely help our staff back to work is a crucial element of business continuity planning and we have super-charged the Government advice with a further 20 questions
   7. Business recovery – so what next, what is your plan for the ‘new norm’; employee engagement, safe home working, bringing staff out of furlough and much more

As you complete the audit, the Risk Dashboard then presents the SME and their accountant with the tools to start to work through the area’s that have been identified as tasks or actions to survive and thrive through the crisis.

Questions with a weighted algorithm to prioritise the actions that need your attention first.

We’ve provided much more support of course, we have embedded links into the resources section, all the support that you will need from websites of authority, such as;

1. 1. .GOV for all Government advice during the pandemic
   2. .HSE when it comes to health and safety at home and at work
   3. .NCSC for how you make your staff working from home secure to online threats
   4. .NHS for how to manage your staff mental health and safety

Plus many more such as TUC / MIND / ACAS / CPID and the BVRLA for your fleet risks

All of this functionality makes finding the correct advice easy and at your fingertips to complete your actions, to develop your business recovery plan.

“Our mission throughout this crisis is to empower everyone within your organisation with clear and accurate data that’s easy to understand. This allows you to make informed decisions and avoid financial and operational liability.”

We developed the free edition with 3 primary business and economic objectives in mind;

1. 1. Reduce the number of insolvencies within the UK SME sector – the heartbeat of the UK economy
   2. Reduce the threat of increased unemployment – protecting our valuable social services
   3. To develop and encourage a positive work environment, allowing our staff to return to work – safely….

All modules are designed to navigate our way through coming out of lockdown, our focus is to make a difference.

We are here to help businesses to survive and thrive. We work towards keeping people safely employed.

If you would like to learn more about the FREE ‘COVID-19 secure management’ edition of the Risk Dashboard contact your Accountant / Business Advisor and ask for a licence or download your free version by entering your details here: https://www.riskdashboard.co.uk/cashflow/ using voucher code: NCBlog20 or contact Neil Campbell, Commercial Director at Risk Dashboard on info@riskdashboard.co.uk.

We look forward to hearing from you.

This product is for healthy people working from home or returning to work, we are advising all employees to take health advice relating to the COVID-19 outbreak from trusted government sources – these sources are available by links from the system.