5 Reasons You Need Risk Assessment Software

As your business grows, so does the risk. As the level of risk grows so do the hazards in your business. IOSH stated that there were 144 fatalities in the workplace in 2017-2018, up from 135 in the previous year, suggesting that hazards...

Written by Charlie Wright

As your business grows, so does the risk. As the level of risk grows so do the hazards in your business. IOSH stated that there were 144 fatalities in the workplace in 2017-2018, up from 135 in the previous year, suggesting that hazards are increasing. Keeping this in mind, it is important to ensure your employees’ welfare is protected.

By incorporating Risk Assessment Software into your business, you can help to identify, manage and reduce various aspects of risk. Here are 5 key reasons why you should consider Risk Assessment Software. 

1. Accuracy and Relevancy

  • Paper-based risk assessments are prone to error. This could cause difficulty in delivering accurate assessments and passing along assessments to the relevant people time-consuming.
  • Risk Assessment Software allows elements of the assessment to be automated, reducing human errors. Software enables assessments to be passed efficiently to suitable people for the risk to be solved, saving time and resources.
  • Paper-based risk assessments may be out-dated if not updated continuously. This could give an inaccurate reading of any new potential risks that may have been looked past. Paper can also be easily misplaced, causing issues with organization.
  • Risk Assessment Software can ensure risk assessments are always up to date and relevant, by storing and standardizing all forms in one location.
  • Workers time may be consumed on creating risk assessments with only the slightest variations between them. Further time could be wasted on accumulating data over multiple sites and locations. This could make gathering data problematic.

2. Action Tracking

  • Risk Assessment Software can allow you to assign actions and track them through to completion. This will increase the visibility of tasks and help to establish accountability.
  • Risk Assessment Software can identify risks and classify them appropriately.

3. Real-Time Recording

  • Results generated will be more accurate and relevant to your business operations, due to the use of real-time data. This will make it easier for managers to view risk in real time.
  • Risk information can be easily updated and recorded. This could help to reduce the business time lost with administrative tasks.
  • Risk assessment software measures performance with monthly stats, creating benchmarks and reducing incidents. Capturing key performance indicators from around your organization.

4. A Legal Requirement

  • Paper-based assessments could cause later inconvenience if for auditing or legal meetings. Papers could be misplaced and to accumulate them may be time-consuming. Software is more concise, delivering more support on evidence. This will lead to easier verification for your business.
  • Risk assessments are required to be conducted before an employee completes work. Whether that be on current, new or unknown parts, process or materials.
  • Sentencing guidelines have become stricter in health and safety legislation breaches. Your business could suffer major financial loss if not conducted. This could increase cost due to loss of output; compensation claims and higher insurance premiums.

5. Mobile

  • Users are able to create, edit and share risk assessments and templates.
  • Schedules can be created to help manage your business workloads. This enables regular and ad-hoc actions, audits, and assessments are diarised.
  • Mobile Risk Assessment Software implements field workers to enter data at the point of the incident, wherever it occurs. Software on a device makes it more accessible and easier to use. This will sequentially help large businesses to function.

Risk Assessment Software helps reveal risk and enable companies to resolve issues. It can eliminate human error and reduce liability by streamlining aspects of the risk assessment process. This may be by reducing the amount of labor seen in the traditional method of risk management. This, in turn, will enable your business to run as smoothly and efficiently as possible.

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