We have announced the launch of a new Marketing Risk Management Dashboard. The tool helps senior marketers manage marketing risks and controls, as well as track their risk profile across a range of marketing initiatives.
While reputational and regulatory risks have always been important issues for marketing leaders, the sustained growth in expenditure (including in areas traditionally the domain of IT) has skyrocketed risk management to the top of the CMO watch list.
According to Tessa Court, our CEO: “We built the Marketing GRC Software Management Dashboard to cater for CMOs who need to manage and track marketing risk. Senior Marketers have told us they face significant challenges to mitigate risk, while focussing on quality, compliance, results and efficiency – so we decided to make it easier for them.”
While configurable to feature any data set on the platform, the Dashboard template includes:
1. Marketing Risk Matrix and Heatmap
All marketing projects can be classified based on their risk profile. Color-coded categories indicate custom parameters such as; likelihood, consequence, budget or media spend, and risk score. For example, a social media post will carry a lower score than a new product launch in a highly regulated industry.
2. Marketing Contracts Renewal Dates
With so many third-party vendor contracts and varying review dates, contract amounts, Service Level Agreements, and term excerpts to manage – all marketing contracts can now be stored in one place, with automatic notifications set for when vendor contracts are due for renewal.
3. Creative Approvals
Instantly see the status of all creative approvals, across brand, legal and compliance flows.
4. Resource Planning and Workload Analysis
Track both open and completed projects by a designer or team lead, to assist with capacity planning and to mitigate the risk on deliverables. Measure spend across deliverables to ensure you are not overspending with one agency or on a specific item that could be brought in-house.
5. Track Expenditure
Track budget vs. actuals by category and instantly view expenditure vs. budget across all projects.
6. Talent Usage Rights Expiration
Instantly view all creative assets that have upcoming talent or usage rights expiration or renewal deadlines. See all stakeholders who have downloaded the file and send notifications to see if renewal is required.