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Your Marketplace questions answered

What is Marketplace?

Marketplace makes it easy to implement and scale Protecht.ERM. It provides templated registers, workflows and analytics pre-configured by experienced risk professionals to help you:

  • save time and effort when implementing a quality ERM system,
  • keep on top of emerging risks and
  • maintain a framework that suits your organisation’s risk maturity.

Questions and Answers

1. Is Marketplace included in the software package or additional?

Marketplace is an implementation option for Protecht.ERM customers to get their site up and running quickly and simply. Because it is one of a few implementation options, it is not included by default but instead as an add-on.

2. Apart from financial services, what other industries is Marketplace suited for, i.e. government, universities?

In addition to financial services, Marketplace is also suited to a wide range of industries including health care, manufacturing, retail, government, and education to name a few.

3. Do these packages link across registers, e.g. incidents linking to controls?

Yes. Protecht.ERM as a system is designed to integrate data across the lifecycle of risk, and Marketplace packages leverage this integration.

For instance, most of the registers are designed to capture impacted risks and controls from the central risk and controls libraries. Another example is the “Incident and Breach Management” register which can be linked to the Obligations register to highlight where an incident impacts an obligation.

 4. Are the taxonomies/libraries specific to industries or aligned more to just financial services? Do the core taxonomies have a linkage into industry standards e.g. ORX / Basel?

While we’ve ensured that financial services is covered, the current taxonomies were designed to apply to the majority of organisations. Part of the future roadmap is to consider whether standard taxonomies or libraries for specific industries will add value, and where applicable align them with industry-specific standards.

5. Can we download just one asset from a package? I.e. the modern slavery section of Third Party?

If a package is installed, all components of that package are installed. We have, however, designed packages to be discrete bundles of content to make it easy for customers to choose only what is most relevant to them.

In the case of the modern slavery questionnaire, it is packaged with anti-bribery and corruption questions as well, so all questions would be installed. The related “Vendor Management” and “Vendor Findings and Issues Management” content are separate packages and would not be installed automatically – although they are designed to work together as a suite.

6. To utilise the risk health dashboards do you need to have the Marketplace packages installed or can the dashboards link to existing risk and control registers?

A dashboard such as the risk scorecard can be linked to existing registers as a bespoke report build, as long as your system has the underlying data fields used in that dashboard.

Marketplace will soon be releasing an off-the-shelf version of these risk scorecard dashboards that can be installed to work with other Marketplace registers.

7. If you have fit for purpose registers already and pick and choose from Marketplace, can you integrate both into reporting?

Registers you have already may work alongside with Marketplace registers in reporting, although such reporting would need to be built as bespoke assets.

8. For the Marketplace packages, can you change fields, workflow rules etc. And what happens if you change it and Protecht releases an update later?

Customers may customise Marketplace packages in Protecht.ERM, although this will impact use of future updates to the package via Marketplace. Factors to consider before customising a package include:

  • Additional manual work may be needed to migrate data from the old version to the new version
  • Bespoke changes you would like to keep will need to be reapplied to the new version.

Protecht can offer professional services to support customisation and ensure that the installation of new packages will continue to work.

9. Do you have control libraries also available?

Marketplace's Control Library package will be available in the next month.

10. Can we try before we buy?cta-marketplace-webinar-recording-on-demand

We do not currently support trying Marketplace packages before purchase. We can of course demonstrate the value of Marketplace packages for you to review to feel confident that they are the right option. If you’d like to see more request a demo here.

11. Are the registers available in the Marketplace also available in the Community Playground?

Marketplace registers will be made available in Community Playground in the coming months.

12. How is Marketplace priced? Is it subscription-based, year-on-year?

Marketplace is a subscription-based service aligning with the term of your contract. It has different subscription levels available (Foundation, Professional and Advanced) to support organisations of different risk maturity.

The different levels and their pricing reflect:

  • the complexity of the content,
  • the number of packages that may be installed each year,
  • the number of support hours included, plus
  • additional system features.

The different levels of subscription allow organisations to more easily expand and deepen their Protecht.ERM system as their risk maturity grows.

For more information on Marketplace pricing, please request contact from our sales team.

13. What happens when we 'max out' our build and no longer need additional modules built? Can we cease our subscription?

The benefit of continuing your Marketplace subscription after the initial term is that updates to packages you have already installed (reflecting, for example, regulatory or other market changes) will assist you in maintaining your Protecht.ERM site.

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About the author

For over 20 years, Protecht has redefined the way people think about risk management with the most complete, cutting-edge and cost-effective solutions. We help companies increase performance and achieve strategic objectives through better understanding, monitoring and management of risk.