BPC RiskManager V6.2.5.22 – BETA12 has been released.  This version mandates the V6.2.6 database, so it is the first BETA that officially makes the jump to V6.2.6, although we will continue with the V6.2.5 numbering until we are out of the BETA upgrade cycle.  BETA12 is a production ready release.  The V6.2.6 database is transitional, in that the BETA cycle will see us move to at least V6.2.7 before it is finished.

The V6.2.6 DB changes have actually been creeping into the DB scripts progressively across the BETA’s but the server and client have not used most of the V6.2.6 changes (or at least not required them) until this release.  We normally feed the major DB changes into the DB structure up to 12 months in advance of  utilising them in a client.  Only when the feature is required in production do we clock over the DB Version number.  (There is actually one DB feature that has been in the system since approximately 1998 that is still waiting to get to the top of the to-do list,  and in that case the code to use the feature is already written, tested and has been utilised in other production applications, but the anticipated requirement has simply not yet surfaced in the market place.) 

In V6.2.5.22  includes:

• Updated - Insurance policy management.  Intended for “Insureds” (holders of insurance policies) rather than insurers (issuers) or insurors (agents).  Insurance policy management holds details such as contacts, coverage, exclusions, history, financial data, and renewal information.  Each Insurance policy can be tied to a type of control which in turn can template, classify and optionally standardise strategies and controls applied to governance matters such as risks, compliance obligations, CR risks, and other governance obligations.  Insurance policies also link to incidents and governance matters (risks, etc.) via claims management.   This release sees the surfacing of additional data fields, new report views and connection of the insurance renewal reminder and review systems to the messaging system.
• Upgraded Email Messaging.  More internally tracked responsibilities have now been added as uniquely managed messages to the mail & message queueing system.  This is available regardless of whether or not you enable email dispatch through the BPC MailManager.  (IE. the messaging system and email tracking works regardless of whether the emails are actually being sent . )  Among the additions are document, section and insurance renewals.
• New - Risk Milestones.  A milestone is restorable a snapshot of a risk.  Milestones existed in BPC RiskManager from version 1, but with the move from Version 5 to 6 the milestones were dropped in favour of a much more expanded continuous audit logging system with dedicated search, a much expanded assessment tracking and management system and the existing restorable archives.   These facilities did most of what milestones did and provided a much wider range of additional capabilities for search, multiple concurrent users assessing risk,  and data extraction.  There were some things that the logging system, et al did not satisfy however, and that includes a simple way to deliver a chart showing risks at an instance in time, or run multiple “what if” analyses (and store the results in a restorable way, and returning to the official values).   So Milestones are back and improved, with milestone types, descriptions, dates, etc, and charts.   There will be lots more happening here over the coming months.
• New Milestone Charts – Track changes in I/C/R ratings over multiple years, etc.
• New Profile Chart – expands the display of assessments against I/R ratings to the current + 2 assessments allowing either 3 time based assessments or current self/reviewer, previous self/reviewer  and previous-previous self/reviewer assessments simultaneously.
• New Email Message Template reports.
• New Auto-Add feature for the Report Builder interfacing engine so that risk-system-administrator-end-users can add custom or rarely used views and tables to the reporting engine reportable data.  If you know the name of the table or view this feature will mine it and build a definition for ReportBuilder  (Report builder is packaged into every client).  Now nothing is hidden!
• New Views for assertion reporting, number capture, etc.
• Updated BPC RiskMailManager (Email message batching) to accommodate the new mail queues in this version.

BETA12 is on the client download site (you will need your username and password), but if applying the BETA12 patch we STRONGLY  advise you to contact us so that we can assist with the DB conversion.   There are a couple of messy changes to tables that are mirrored or version tracked and some new FK constraints that may require more personalised attention depending on your data.  

 Those preferring to skip the BETA’s and wait for the full installer that is shipped with the official release, should be looking about 1 to 2 month’s out from now.

The next BETA release – due end of next week – will include a big update to claims processing and the compliance obligations.