Fusion Risk Management launched Fusion Scenario Testing, a new purpose-built functionality that provides organizations with the ability to test and analyze the impact of severe but plausible events in real-time.
The new functionality leverages enterprise data and situational intelligence to run diagnostics on an organization’s business and display outcomes. Fusion Scenario Testing provides a proactive approach to understanding vulnerabilities and building resilience by empowering organizations to evaluate responses under realistic conditions and make data-backed strategic decisions. It implements continuous learning, flexibility, and agility in operational resilience plans so organizations can easily model and examine how risks materialize and compare future scenario outcomes.
While the innovative Fusion Scenario Testing solution helps organizations to meet Financial Conduct Authority, Prudential Regulation Authority and Bank of England requirements, the benefits of it extend much wider and deeper than this. With a dynamic approach to operational resilience and continuity, the solution allows for a level of analysis and insight previously unattainable if solely relying on manual and static plans.
Organizations map their business end-to-end by curating data from across the enterprise in a centralized location, identifying important business services, and mapping dependencies. Clients can run exercises on potential vulnerable assets to understand the impact of possible scenarios on important business services and initiate workflows to address gaps in resilience and compliance.
The offering provides users with data-powered insights so they can visualize what a change initiative looks like, respond to possible events, and have the ability to rehearse and measure scenario responses. Designed for businesses to run the same scenario multiple times, users can change the inputs and variables, track results over time, understand preparedness ahead of an imminent event and collaborate virtually to accurately predict event results and evaluate what-if scenarios.
“The events over the past 18 months have reinforced that organizations today must expect, prepare, and immediately respond to the unexpected. The most detailed, best-laid plans can be obsolete even before the plan is complete and businesses of any size, across any sector, must be prepared for any eventuality,” said Cory Cowgill, Chief Technology Officer, Fusion Risk Management. “We are thrilled to introduce this agile, flexible scenario testing solution designed with Fusion’s unique forward-looking approach to operational resilience that prepares our clients for the future.”
Fusion Scenario Testing follows the launch of Fusion Analytics, an intuitive and predictive analytics solution enhancement that bolsters organizations’ resilience posture with data insights, visualizations, and tailored decision-making experiences.
Both newly introduced capabilities are an extension of the Fusion Framework System, Fusion’s flagship offering which enables an organization’s ability to maintain resilience through one singular platform, eliminating separate and disconnected modules across the many areas of risk and resilience, bringing them together under the comprehensive single platform to monitor and maintain operational resilience.