Introducing Customization of Risk Categories

In earlier versions of our platform, the risk management module was preconfigured with nine default categories. However, we identified a few limitations with this approach, such as some categories being irrelevant and the possibility of needing additional categories.

Understanding these challenges, we have now introduced a feature that allows users to create their own categories. This ensures that users have the flexibility to create categories that align with their specific risk management needs.

Moreover, we understand that there might be existing categories that users find irrelevant or unnecessary. To address this, we have provided users with the capability to delete any existing categories that they find irrelevant.

Use Case/Pain Points Solved

1. Limited Flexibility: Users were constrained by the predefined set of categories, which might not have covered all their risk management needs.

2. Irrelevant Categories: Some default categories were irrelevant to certain users or industries, cluttering the interface and complicating the risk management process.

3. Customization Needs: Businesses and industries have unique risk management requirements, necessitating the ability to tailor categories to specific needs for more effective risk mitigation strategies.

How does it work?

• Navigate to 'Settings' in 'Risk Management'. A new tab labeled "Categories" has been introduced.

• Clicking on "Add Category" will open a modal window, allowing you to create a category of your choice.

• The change is applied to all dropdowns and filters.

• Note: The 'Category' field is no longer mandatory for risk creation.

• If a risk category is deleted, all risks associated with that particular category are reassigned to "OTHERS". The admin is also notified via email.

This update aims to provide a more personalized and user-friendly experience. It allows users to customize the risk management module according to their specific requirements, ensuring a more efficient and effective risk management process.

If you have any questions or issues, please reach out to your assigned Customer Success Manager. They'll be happy to assist you!

To view all the product updates, please click here.