Issue 1 2020

28 Acquisition International - Issue 1 2020 Oct19411 Calculating Risk When dealing with the matter of risk management, it’d be unwise to leave anything to chance. Finding ways to avoid errors occurring in any work-related process can be complex. Fortunately, CERRIX specializes in this area, creating a solution that matches the task. Operating in the firm belief that good software to handle this workload is something sorely needed by companies, we took a closer look to find out how CERRIX delivered. ounded in 2015 and based in the Netherlands, CERRIX is a software company that delivers Governance, Risk and Compliance software. It was created in the knowledge that departments like compliance, risk and audits often have an independent role in their support, monitoring the processes for primary business operations. Often these departments have their own tooling that facilitates this work, and while this assures their independency, it also shares the risk of standardization in the way of working and efficiencies. CERRIX offer something that is a little bit different to the norm. Their software is focused, quick-starting and proactive, meaning that once a client has the software, it can be rapidly deployed and quickly understood. The ability to collate insight from several sources permits useful analysis, while also allowing for stakeholders to receive real-time information about actions to be taken, operational incidents and limit overruns. Customers can configure and maintain CERRIX without any support from the company though naturally a services desk is available for questions and support. This is the real strength of the product, with its user-friendliness highly appreciated by clients. Determined to stay ahead of the game on this front, CERRIX has a sounding board formed of a customer user group who issue recommendations for improvements and new features on a yearly basis. Serving clients primarily in the financial markets has led to developing sophisticated security measures that are continuously under review. Slowly the market interest has expanded from the banks, insurers and asset managers of this sector in the direction of industry and telecommunications. Currently, this growth is mainly being seen in continental Europe, with CERRIX angling to become the leading GRC software firm in Europe. Like any technological industry, the need and desire to innovate and improve is at the forefront of CERRIX’s business plan. With a well- qualified technical team that is always encouraged by management to provide the next big step, innovation is almost inevitable. Despite being a relatively small team, CERRIX has worked this to its advantage. Short communication lines make the company into something incredibly agile, able to react quickly and appropriately to both business’ demands and client expectation. Having increased sales through 2019, and made their first entries into Europe as well, the plan is for CERRIX to intensify this activity moving forward. The latest development of its proprietary software will be released in February 2020, containing very distinctive features to further set this company apart from the crowd. For those customers owning the Business Process variation, the ability to evaluate business processes in a user-friendly way, assessing risks, compliance requirements and business performance at a glance. F CERRIX intend to extend the integration functionalities of their software to vendors, clients or those to whom business has been outsourced. As companies become more connected with the rapid acceleration of digitalization, more control and oversight will be needed over the overall business chain. Similarly, this expansion is matched by the close working with accounting firms in order to develop interfaces between CERRIX’s application and the firm’s systems for the automatic exchange of data. The intention is to achieve data-driven continuous assurance in order to replace time- consuming ISEA3402 audits. When it comes to finding the ideal way to achieve truly innovative risk management, there is very little more suited to the task than CERRIX. Designed to work efficiently and to work easily with customers, CERRIX continues to be an innovation in the field of Governance, Risk and Compliance software. Contact: Paul Bruggeman Company: CERRIX Web Address: Telephone: 0031 70 363 77 33