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Sucess Story

Tekvortex has been a core R&D partner for RANE since 2016 and has developed several software solutions to help RANE bring innovation to its clients.

Approach

In response to RANE’s manual and time-consuming risk assessment platform, Tekvortex designed and implemented a comprehensive enterprise software solution leveraging advanced technologies such as artificial intelligence and machine learning. Through stakeholder interviews, a thorough understanding of RANE’s existing processes was gained, facilitating the development of a solution tailored to their specific needs.

The platform has significantly improved efficiency by reducing the time required for risk assessments by up to 70%, ensuring a more rapid response to the ever-changing risk landscape. Notably, accuracy has been enhanced, surpassing manual methods, and compliance with regulatory requirements has been streamlined. The automated system’s success is underscored by its role in enabling RANE to replace a 20-member risk analyst team, resulting in substantial cost reductions.

The approach includes rigorous technology assessments, change management plans, and continuous improvement strategies to maximize the platform’s effectiveness. Moreover, a focus on seamless integration and performance monitoring ensures a smooth transition and ongoing optimization. Through documentation and training initiatives, the collaborative effort positions RANE to maintain and capitalize on the advantages of its enhanced risk management capabilities.

Problem

RANE is a global risk management company that helps businesses identify and mitigate risks. The company’s risk assessment platform was manual and time-consuming, making it difficult to keep up with the ever-changing risk landscape.

Solution

Tekvortex designed and developed an enterprise software solution to automate RANE’s risk assessment platform from ground up.

The solution uses advance technologies including artificial intelligence and machine learning to quickly identify and assess risks, as well as to generate accurate reports and recommendations.

Benefits

  • Improve efficiency: The platform has reduced the time it takes to identify and conduct risk assessments by up to 70%.
  • Increase accuracy: The platform can identify and assess risks more accurately than manual methods.
  • Improve compliance: The platform helps RANE to comply with regulatory requirements.
  • Reduce costs: The platform has helped RANE to reduce the costs associated with risk assessment by entirely replacing a 20-member team of risk analysts.

Conclusion

The automated risk assessment platform has been a success for RANE. The platform has helped the company to improve its services and bring more value to its clients.