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Risk management apps: Are they right for you?

Thanks to the upsurge in mobile device usage in the past couple of years, the number of apps devoted to just about every type of business imaginable has soared as well. Risk management is no exception. If you dream of taking risk management with you wherever you roam, here's a quick list of some risk management apps you might want to check out:

* Risk Report by Risk Management Services was designed to record and keep track of potential risks, suggesting possible action steps to mitigate those risks. ($2.99 on iTunes)
* Risk Calculator Chart by TexTpressIt automatically calculates risk based on user input, then categorizes and charts those risks, potentially making it a good choice if you like visuals. ($0.99 on iTunes)
* Citicus MOCA by Citicus helps risk managers assess risks of specific assets and processes using data about your company's resources, risk exposures and risk probabilities, then offers a graph and other information that can assist in the risk management decision-making process. (free in iTunes)
* Keep up with the latest business news including information about risk management from around the world with SAS News by SAS Institute. (free on iTunes)
* Not crazy about Apple? So far, Google is playing catch-up when it comes to the number of risk management apps it offers, but you might want to check out SME 360: Risk Assessment, which provides a range of risk assessment tools for small and mid-size enterprises. According to its description, the app "helps managers assess and score opportunity risk factors to mitigate risk, determine capital allocation requirements and prepare for raising finance from banks and other lending institutions."

If you love your mobile device, risk management apps can be great tools to keep you on top of your company's risk management goals as well as news and activities in the world of risk management. Although it probably goes without saying (and no, the irony isn't lost on us either), whenever you use any third-party software, you want to reduce your own risks by ensuring you adhere to your company's BYOD policy and following smart browsing practices.

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