Customer Company Size
Large Corporate
Region
- Africa
Country
- South Africa
Product
- IsoMetrix Enterprise Risk Management
- IsoMetrix Compliance
- IsoMetrix Environment, Health and Safety
- IsoMetrix Internal Audit
Tech Stack
- Risk Management Software
- Compliance Software
- Health and Safety Software
- Internal Audit Software
Implementation Scale
- Enterprise-wide Deployment
Technology Category
- Functional Applications - Enterprise Resource Planning Systems (ERP)
Applicable Industries
- Agriculture
Services
- System Integration
- Software Design & Engineering Services
About The Customer
Senwes is one of the leading agricultural companies in South Africa, with clients symbolising the heart of the company. The Senwes Group of companies is supported by three pillars - Input Supply, Financial and Technical Services and Market Access in eight of the nine provinces. The Senwes Group has an integrated business model to facilitate its core objective of making a meaningful contribution to food security in South Africa in a sustainable manner. The company has a rich and proud history which extends over a period of 108 years. Senwes monitors a risk register of around 260 identified risks within 22 risk categories throughout the Group. The group’s residual risk exposure range from USD 21 million with a very low risk tolerance level to around USD 42.5 million in catastrophic drought events.
The Challenge
Senwes, a leading agricultural company in South Africa, needed to implement Integrated Management Systems for Health, Safety, Environment and Compliance (HSEC), Enterprise Risk Management (ERM), Internal Compliance and Internal Audit. The ERM system was built to accommodate Senwes’s quantitative approach to assessing risk. Senwes monitors a risk register of around 260 identified risks within 22 risk categories throughout the Group. The group’s residual risk exposure range from USD 21 million with a very low risk tolerance level to around USD 42.5 million in catastrophic drought events. Senwes previously calculated their quantitative risks using spreadsheet-based systems that were not able to provide real-time information. They needed to replace these spreadsheets with a centralized, electronic system that would provide real-time risk assessment information.
The Solution
Senwes chose IsoMetrix to implement a real-time quantitative risk assessment solution. IsoMetrix provides a fully functional governance, risk and compliance (GRC) suite. This is in line with the internal objective with regards to Combined Assurance reporting. IsoMetrix also provided Senwes with a fully tailor-made solution implemented according to their selected preferences. The IsoMetrix software now allows Senwes to have real-time dashboards reflecting quantitative risks across the business for HSEC, Enterprise Risk Management and Internal Compliance. The IsoMetrix solutions needed to integrate with various third-party data sources containing Key Risk Indicators used to calculate risks. These are imported periodically into the risk management module that was configured to Senwes’s specific requirements.
Operational Impact
Quantitative Benefit
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