In an article for Future Banking magazine, Samuel Brandstätter, CEO and founder of avedos, explores the challenges facing the industry today and how banks can embark on the path to agile business models – with integrated GRC.

12.12.2018 Project CERBERUS

Critical infrastructures play a decisive role in maintaining important societal processes such as ensuring the everyday supply of essential goods and services. In the past ten years, the links among these critical infrastructures have tightened even further, which leads to a highly complex, sensitive network with various interdependencies.

Protecting critical infrastructures is more important than ever. Even though cyberattacks on companies are no longer rare, the risk is still often underestimated. Current developments in IT are supposed to minimize attacks and damages. The question if there will ever be one-hundred percent protection from cybercrime, however, remains unanswered.

In an interview with LEADERSNET, Dr. Josef Fritz, founder and Managing Director Board Search, addressed the digitalization rate in Austrian supervisory boards and the AREX award. avedos took part in the 2018 award ceremony as a premium partner.

Team avedos made its debut at the Wien Energie Business Run on 5 September 2018. Together with 32,000 other runners and Nordic walkers, it conquered the 4.1 km course in Wiener Prater, a beloved public park in Vienna.

A recent study conducted by Bain & Company examined how banks can control and manage operational risks to avoid severe losses. Since the global financial crisis at the very latest, banks and the bodies that regulate them are required to control risks in an effective, sustainable manner. Once banks have established solid practices to manage financial risks through appropriate systems, their next challenge is to implement them for operational risks.

At its 2018 User Conference, avedos presented its latest service offering: Service Management Premium. This service, which was developed in close cooperation with existing customers and extended with valuable feedback from conference attendees, has gone live in June 2018.

An old proverb says that there is a lid for every pot. It was even the theme of a German song back in the 1960’s when people still lived in a very analog world. It was a time when digitalization was an unfathomable except for the few scientists who were researching the fundamental concept. Offices had the appearance of being well organized – with pencils, sharpeners and typewriters.


At avedos, we take our corporate social responsibility very seriously and place great importance on sustainability and environmental awareness. Since we believe our social and ecological responsibility should and must exceed what is required by law, we launched the initiative “” back in 2016.

The Corporate Risk Management department at Axel Springer has been using risk2value from avedos since January 2018 to harmonize the areas of enterprise and information risk management. The software also fulfills its requirements for intuitive usability and easily integrates its various companies worldwide.

... according to a study conducted by the magazine, Focus Business, in cooperation with the employer review portal, Among the region’s 1,300 most popular midsize employers, avedos placed 111th within the telecommunications and IT industry.

Warth & Klein Grant Thornton and the Governance, Risk und Compliance (GRC) software vendor avedos will collaborate more in the future to extend the IT platform risk2value from avedos with specific business content. Both partners have recently developed a successful GRC solution for banks and insurance providers. Further projects are to follow.

Bundled expertise in Governance, Risk and Compliance – EY and avedos today announced that they will work more closely together in the future as part as a formal partnership. Clients will profit from the combined knowledge of the leading global consultancy and expert for Governance, Risk and Compliance.

Following the Minimum Requirements for Risk Management (MaRisk), Germany’s Federal Financial Supervisory Authority has now published the Supervisory Requirements for IT, also known as BAIT. This additional set of rules defines binding IT security requirements for banks.

On October 24th, avedos BeNeLux organised a seminar on Integrated Risk Management in cooperation with Ernst & Young at the Cross Towers in Amsterdam.

avedos and Grant Thornton Austria today announced their strategic partnership, which will ensure the optimal implementation of proactive management systems in the field of Governance, Risk and Compliance (GRC). The cooperation unites the two specialists to offer a new and integrated service.

The Austrian Controller Institute hosted its first-ever GRC Forum on 28 September 2017. avedos served as a co-organizer of the event with regard to content.

avedos, a leading vendor for Governance, Risk and Compliance (GRC) software, has released version 6.2 of its software platform risk2value. The new release stands out for its intuitive user interface and easier handling.

avedos GRC GmbH today announced that Jadeberg will support its strategic development through 7-digit growth financing and vast know-how.

A new social security assignment law (SV ZG) designed to increase legal certainty regarding pseudo self-employment has gone into effect across Austria in July 2017.

The International Monetary Fund (IMF) has recently warned about the dangers that cyberattacks are placing on global financial stability. In a paper released on 8 August 2017, the organization reported on the growing frequency and cunningness of such attacks.

The Swiss health insurance provider, KPT Krankenkasse AG, has selected the software platform risk2value from avedos to map and support its existing methodologies for integrated risk and control management.

T-Systems hosted two summer events on digitalization on July 19th and August 9th in Vienna, Austria. The diversified program included presentations, networking opportunities and an exhibition area that provided a peek into the latest developments of the digital world.

It often pays to look in the past to get a better view of the future. For instance, we can learn a great deal today about bad and good risk management from the downfall of Troy.

The Corporate Risk Minds - with more than 150 participants and 50 speakers - is one of the biggest branch meetings in the German speaking market (Germany, Austria, Switzerland).

Whether it’s industry 4.0, the internet of things, analytics, the digital transformation, agile working, smart homes or big data, the many buzzwords of the digital world are the talk of the town. They are regular talking points for the media, politicians and even companies. The market leader Google records 27 million hits for the German term “Industrie 4.0” alone.

From March - May 2017 avedos expanded its long-term partnership with EY. In the scope of a roadshow, we toured through Germany, Austria and Switzerland.

On June 27-28 the third Rehink! Corporate Finance 2017 took place in the famous Alsterstadt Hamburg. avedos took part as a partner and sponsor. The main topics of the event were Finance, operative efficiency - Forecasting, Reporting, Planning, Big Data and innovative technologies.

avedos hosted its first User Conference on June 1 and 2, 2017 in Vienna, Austria. The conference featured a selection of 26 presentations as well as 8 product demos and 4 customer use cases centering on the theme “risk2value in action!”. Over 50 guests gained new insights and exchanged experiences with experts and peers in this two-day event.

The changing seasons had taken their toll on the courtyard garden at House Karwan, a local refugee housing facility run by Caritas.

08. March - 18. May 2017 - Germany / Austria / Switzerland

Information security is so important today, especially for financial services providers. To professionally run the processes that are relevant for information security, institutions such as DekaBank are relying on the integrated software platform risk2value from avedos.

Employees from various departments at avedos came together last Wednesday to share a little Easter joy with the children at House Karwan, a local home for refugees.

avedos business solutions GmbH is renamed to avedos GRC GmbH.

The General Data Protection Directive (GDPR) of the European Union will come into effect in May 2018, thereby replacing the Data Protection Directive 95/46/EC from 1995. Its prime goal is to strengthen the rights and security of EU residents whose data is saved and processed. The directive contains over 60 “opening clauses”, which give the individual member states vast leeway for implementing it on a national level.

Social responsibility is so important in companies – today, even more so than ever. That is why we at avedos have chosen to support the House Karwan project of the Catholic social organization Caritas. We are planning a long-term cooperation that will give our employees as well as the house’s residents the opportunity to spend time together, exchange experiences, and build trust.

avedos, a leading vendor of Governance, Risk and Compliance (GRC) software today presented the 6.1.1 release of risk2value, featuring an optimized BI platform for even higher performance.

CARMAO, an information security consultancy based in Limburg, Germany, and avedos, an Austrian software vendor specializing in Governance, Risk and Compliance (GRC), have joined forces as partners to drive integration efforts in the field of information security.

MAN Group, one of Europe’s leading commercial vehicle and mechanical engineering groups, will replace its existing cockpit for continuous controls monitoring (CCM) with the integrated software platform risk2value from avedos.

As in previous years, avedos took part in the RiskNET Summit 2016 located at the castle of Hohenkammer (near Munich) - the experts conference with risk management, governance and compliance as its main topics.

Austrian Post, the nation’s leading logistics and postal services provider, is using the software risk2value from avedos to professionally map its enterprise risk management processes in an integrated GRC platform.

Entrepreneurial risk, set work times and even the extent to being bound to instructions are all factors that differentiate employees from self-employed, third-party contractors. Checking and evaluating these criteria is often difficult in real-world scenarios and makes it hard to set clear boundaries between employees and people who are only self-employed on paper.

The fight against corruption has been ongoing for thousands of years. The term “corruptio”, in fact, dates back to the Roman Empire. Today, bribery is deeply rooted in all aspects of business and politics. It results in a parallel, black economy that distorts competition and hampers economic growth. The new global standard ISO 37001 will quickly establish itself to help win the battle against corruption and bribery once and for all.

Flexibility and cost savings are tempting for any company nowadays. For this reason, the employment of external staff is gaining popularity and promises many advantages.

The Swiss specialist for cashless payment has selected the integrated software platform risk2value from avedos to strengthen governance practices throughout the group. The project will professionally map its enterprise risk management, information security and internal control system on an integrated GRC platform.

The Swiss health insurance carrier Visana will automate its enterprise risk management processes using the integrated software platform risk2value.

Volksbank Wien AG has selected the integrated software platform risk2value to manage information security processes throughout the Austrian Association of Cooperative Banks as well as its main IT service providers. The system is planned to go live following a brief implementation period.

The LGT Group based in Vaduz, Liechtenstein, will implement an IT-driven internal control system based on risk2value from avedos. The private bank selected the GRC platform following an in-depth evaluation of leading ICS solutions.