Starwood Hotels & Resorts Worldwide has selected MEGA software solutions to enhance its enterprise risk management program.

Starwood, a hotel and leisure company, has 1,162 properties in nearly 100 countries, with a global workforce of 171,000 employees. “We believe enterprise risk management can convert risks into opportunities,” said Mark Reiss, senior director of enterprise risk management for Starwood Hotels. “We expect this expanded ERM program to help us identify and test current risks and deal with emerging risks.”

The growing complexity of the hotel business requires hospitality companies to support their ERM programs using software specifically designed to identify and manage risks. MEGA's software links information on risk management with data on other corporate business processes, providing a comprehensive view of the company's infrastructure and facilitating better risk and business optimization decisions. 

MEGA's enterprise risk management solution facilitates risk mapping, assessment, and control, enabling organizations to:

Improve the quality and effectiveness of risk management processes;

Assess risk in collaboration with business users; and

Automate the consolidation and communication of your organization's exposure to risk.

MEGA's ERM solution was developed to support risk managers and risk owners throughout the risk assessment and control process, with a personalized interface for each user profile. A collaborative workspace, workflows, and a shared repository help stakeholders share information and knowledge, leverage existing standards, methods, and documentation, and ensure full data traceability.

The solution's graphical modeling capabilities also ensure improved risk mapping clarity. Risks are mapped directly on your organization's business process diagrams, which can be adjusted according to risk exposure. Facilitated collaboration with business process managers helps strengthen the risk-based culture throughout your organization.

More details on MEGA's ERM solution may be found here.