Winner: Sword Active Risk
Transurban was founded in 1996, and is listed in the top 20 on the Australian Securities Exchange.
The scope of business includes managing and developing urban toll road networks in Australia and the US. It has 13 roads in its Australian portfolio, and two roads in the US state of Virginia, and is currently managing eight major construction projects to enhance or build new road networks. With more than five million customers using its roads and tolling products each year, an ongoing focus and commitment to customer service and asset reliability is critical to its business.
CHOOSING SWORD ACTIVE RISK
Prior to this journey, Transurban had utilised a multiple risk solution including Excel, bespoke solutions and SharePoint. However, the business needed a fully integrated, organisation-wide tool that would provide an environment that enables contribution from all levels of the business, to ensure ERM isn’t just an ‘enterprise risk management’ process but instead becomes a culture in which ‘everyone’s a risk manager’.
To support this approach, Transurban sought a commercial ‘of the shelf’ solution that could be configured by the risk team (not customised through additional so ware development) to reflect its ERM framework, methodology and language.
Importantly, the solution had to be user-friendly and enable different disciplines and levels of process maturity to be able contribute and manage risks. Timing was also a key consideration as the team couldn’t stop risk activities, projects, operations or acquisitions while installing and implementing a new solution.
Following a market review, it was found that the Active Risk Management (ARM) solution from Sword Active Risk was the only system capable of meeting Transurban’s needs. Upon deploying ARM, the risk team easily configured the system to reflect their ERM process and organisational structure within days, and the system was fully live within a week.
The system is integrated with other risk-related processes such as health, safety and environmental, internal audit, tax, treasury and procurement. Reactive processes such as business resilience, crisis management and insurance were also reviewed to tie into the proactive nature of risk management.