Risk Reduction

Risk Reduction


Our solutions will improve health & safety and reduce non-compliance risks which can have serious financial and professional reputation implications.
The impact of risk on a business is influenced by numerous factors, including health & safety, legal and non-compliance. All of which have a high probability or threat of damage, injury, liability, financial loss, or other occurrence caused by external or internal vulnerabilities. Many of these risks may be avoided through preemptive action.

Our Solution

Typically we can reduce your risk factor by up to 60%.
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Areas of Exposure

Health & Safety

Apart from the legal and moral reasons for keeping your business safe for employees, contractors and visitors, your business could suffer if you don't manage the health and safety risks. Potential risks that relate to the solutions Compass provide include:

Hazard or Cause Potential Risks Our Solution

Poor Plant Maintenance Injury or death , impact on working conditions for staff Tracking and validation of maintenance activities.

Poor Property Maintenance Injury, sick building syndrome, damage to equipment from damp Tracking and validation of maintenance activities.

PPE Non-Compliance Injury or death Cross checking with asset maintenance requirements.

Unqualified / Inexperienced Contractors Injury or death, risk to other persons and assets. Validating contractors details and documentation at sign-in

Financial

There is always a financial element to risk which can lead to unplanned expenditure for repairs or replacement plant, losses resulting from production downtime, increased insurance premiums and decreased sales revenue. Financial risks that relate to the solutions Compass provide include:

Hazard or Cause Potential Risks Our Solution

Uninformed Budget Reduction Poor quality maintenance leading to potential critical plant failure, early replacement or health & safety issues. Historical analysis allows for informed decisions when budget cuts are needed

Insurance Claims Accidents or damage to property resulting from sub-standard maintenance or risk activities Tracking and validation of maintenance actiities.

Audit & Standards Non-Compliance Loss of accreditation and reputation due to poor standards and record keeping could seriously impact on sales revenue A fully controlled documentation storage environment directly linked to all maintenance activities

Production Downtime Lack of due dilligence resulting in plant & equipment failure or property damage can seriously impact on both sales revenue and reputation Tracking and validation of both maintenance actiities and contractors.

Uncontrolled Expenditure Lack of inter-departmental communication, un-supervised remote site activity and lack of control can easily double expenditure Tracking and validation of maintenance actiities using a centralised but universally accessible control solution.

Legal and Media

If things go wrong and you end up in court protecting either your own or your companies reputation and future, the most important of your assets is evidence. Legal risks that relate to the solutions Compass provide include:

Hazard or Cause Potential Risks Our Solution

Claims resulting from accident or working conditions Failure to keep proper maintenance / H&S records and proof of tracking work activities could lead to prosecution A full historical record of all maintenance activities backed by documentation

Bad press resulting from prosecution Bad press can destroy a company's image, damaging established reputation with both customers and suppliers. Company's are forced to respond in real time while the firm's economic losses are mounting. Avoid prosecution in the first place with a dedicated solution that proves with evidence the company took all possible preventative measures.

Non-Compliance

Being compliant with ISO and other standards can be a prerequisite for inter-company relationships. Likewise persons maintaining your plant, equipment and property must be fully complient with health & safety requirements. Compliance risks that relate to the solutions Compass provide include:

Hazard or Cause Potential Risks Our Solution

Health & Safety Can lead to accidents or worse, prosecution, financial loss and damage to reputation Health & safety procedures and risk analysis can be assigned to personnel, individual assets and locations

Loss of Accredition Can result in loss of sales and damage to reputaton A fully controlled documentation storage environment directly linked to all maintenance activities

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