In the context of risk aggregation, we have developed the currently fastest Monte Carlo simulator for the calculation of Key Risk Indicators (KRI). OPTURE's simulation engine calculates any (!) number of risks under consideration of all (!) correlations with at least 10 million (!) scenario simulations. Moreover, by using innovative risk management models and methods, the implementation of the quantitative aggregation can be done easily and intuitively by the individual risk owner and risk managers without the need for prior knowledge of financial mathematics, as is unfortunately still the case when using conventional methods (-> risk assessment with distribution functions and estimation of single risk correlations). The advantages of the OPTURE Monte Carlo simulation engine compared to conventional Excel plugins and tools like R, Crystal Ball, @Risk, Risk Kit etc. are the performance, significantly higher precision, automatically calculated correlation matrix, user friendliness and correct implementation of regulatory requirements (-> aggregation of all risks with all associated correlations).

The German Supply Chain Act (“Lieferkettensorgfaltspflichtengesetz” LkSG - implementation of the EU Supply Chain Act into national law) will come into force on January 01, 2023 (companies >3,000 employees), respectively at the beginning of 2024 (companies >1,000 employees). The Supply chain Act obligates companies to monitor their suppliers compliance with minimum social and environmental standards. The due diligence obligations generally extend to the company's own business units and direct and indirect suppliers. The Supply chain Act covers human rights and environmental risks, such as child labor, forced labor, occupational health and safety, discrimination, lack of labor rights and health conditions, unlawful expropriation, and environmental damage caused by water and air pollution or pesticide emissions. Our customers can easily meet the regulatory requirements of the Supply chain Act by a small extension of the existing OPTURE ERM software with the OPTURE SCA module.

With the OPTURE AI module (Artificial Intelligence), information from various data sources worldwide can be digitally compiled, analyzed and evaluated using simple and complex algorithms.

The OPTURE ISMS (Information Security Management System) according to ISO/IEC 27001 creates high information security with reasonable effort. An ISMS tailored to your company reduces your IT risks and resulting damages and costs. Risk-oriented action planning also improves the cost-effectiveness of your security measures.

The EU Whistleblower Directive (Directive (EU) 2019/1937 of the European Parliament and of the Council of 23 October 2019 on the protection of persons who report infringements of EU law) aims to protect persons who report infringements. A whistleblower system serves as a central point of contact for a company's employees as well as business partners, customers and other stakeholders to report misconduct. It thus offers the company concerned the opportunity to respond very quickly to grievances, avert damage to its reputation and improve internal processes. The OPTURE HGS software (whistleblower system) enables whistleblowers to submit anonymous or non-anonymous reports. Of course, it includes a so-called case management to control, monitor and report the investigation results and its verification and processing in the company.

With the PS 340 new version from 01.01.2021, the Institute of German Auditors (Institut der Deutschen Wirtschaftsprüfer - IDW) has added some new content and requirements to the existing PS 340 auditing standard. The main changes and new requirements include: (1.) Risk-bearing capacity, (2.) Risk aggregation (correlations), (3.) Gross and net evaluation of risks (including measures), (4.) Risk steering (measure management) and (5.) System documentation. All new and additional requirements of the PS 340 new version are fully met by the OPTURE ERM Basic, Advanced and Expert software solutions.

Due to the steadily increasing regulatory requirements with regard to data protection and data security, we have realigned our data centers and reorganized the IT infrastructure and IT architecture. With these changes we become national and internationalmore than just meeting future requirements. In 2020 we received already an A+ rating for data security from a neutral and internationally recognized certification service company (see above).

As part of digitalization, we began to digitize and optimize analog data, information and processes at the beginning of 2020. Internally this means i.a. access to large amounts of data, the possibility of making work more flexible, as well as faster and more efficient internal and external processes. In this context, we have also set up the paperless office and additionally we work almost climate-neutral. For our customers, digitalization means that they can order all products online, that consulting, maintenance and support are provided online and that delivery and implementation times have been significantly reduced. We completed the work to implement the digitalization of our company at the end of 2020.

In an interview on "Voices from Business Experts" Dr Mark Noetzold talks about the special importance of Risk Management in companies and the consequences of the "Black Swan" Corona. The interview can be found in the Frankfurter Allgemeine Zeitung on June 18 or in the online edition of the FAZ. You are also welcome to obtain the article directly from us at: info@opture.com

Dr Mark Noetzold, a member of the OPTURE AG board, writes about the changed requirements for Enterprise Risk Management (ERM) in times of crisis. The article can be found in the Frankfurter Allgemeine Zeitung on April 14 or in the online edition of the FAZ. You are also welcome to obtain the article directly from us at: info@opture.com

Due to the high demand of many of our customers, we would like to give some ideas below on how risk management can be used in a serious crisis (COVID-19 pandemic) effectively. Now that the "black swan" (-> very unlikely and unpredictable events) has landed and it is less a matter of calculating future risk exposures, but rather of identifying and threatening existence-threatening risks.
(1.) The aim in the CRISIS (exceptional situation) is to primarily use risk management to identify, evaluate, report and control SHORT to MEDIUM-TERM risks, as well as to evaluate their INTERDEPENDENCIES and CONSEQUENTIAL RISKS and their effects. The representation of the normal and worst-case scenarios is very suitable for these cases. In global crisis, the risk portfolios are often the same for several business units (e.g. supplier failure, infrastructure failure, etc.) because they are based on the same causes. In this situation, it is essential to go down one level of detail to identify the INTERDEPENDENCES and CONSEQUENCES, and to analyze and evaluate the complete "impact chain".
(2.) In addition to the reference base, e.g. EBIT the risks should also be identified and caluclated on liquidity indicators, e.g. CASHFLOW. Since the observation periods in a crisis are always very short-term, the probability of occurrence can also be very high (note: check comparison with the planning or forecast).
(3.) For urgent and serious events, an AD HOC MESSAGE is required, which should be sent in real time via email to the risk manager and the board (depending on relevance and impact). For this, the effects (level model) of the events should be defined, when an ad hoc averaging should take place and to whom it should be communicated.(4.) In a crisis, the LIMITS or bearing capacity are quickly exceeded, since several (serious) risks often occur at the same time. The introduction of CONTROL MEASURES should result from the limit violations and ad hoc reports. The implementation of the measures and their operational individual steps must be monitored as part of a measure controlling. The derivation of measures to be implemented at short notice is primarily an operational steering measure, which in this case is primarily based on short-term risk effects (causes are difficult to manage for individual companies in global crises).
(5.) A separate REPORTING of the risks resulting from the COVID-19 crisis must be set up to enable operational and short-term actions/measures.
(6.) For companies with simulation technologies, individual scenarios and stress tests should be calculated and SENSITIVITY ANALYSIS should be carried out in order to better assess future effects and to be able to efficiently design steering measures.

A neutral and widely recognized service certified the security of the SSL encrypted OPTURE website with the highest rating grade A +, which corresponds to the highest security level of communication and data transport between OPTURE server and customer browsers. The rating range is between "A +" ("excellent") and "F" ("extremely unsure"). For the evaluation, i.a. assesses the aspects of certificate, protocols, ciphers, security against attacks and browser compatibility. OPTURE achieved the best possible A+ rating in all aspects.

OPTURE AG implemented the action plans and precautionary measures against the COVID-19 virus in all offices last week. These measures relate both to our internal operations (including behavior, emergency plans, regulations, processes) as well as to the external relationship and thus to our contractual partners and cooperation companies. For years we have ensured that all necessary requirements for a stable and redundant IT infrastructure are met and that our systems' functionality is robust. We have validated these measures and our system architecture with specially designed simulations and stress tests. We continue to fully guarantee all service, support and hosting services. All of our employees and contact persons can still be reached by using the known contact details. We are available at any time for questions or information. We wish all customers and employees, as well as their families, all the best and a lot of health so that they can get through this time unscathed.

OPTURE AG looks back on a successful year 2019. By extension the product range and expanding into new markets, growth of 20% was generated. We are pleased that we were able to expand our team of experts with new, experienced and highly qualified employees in 2019.As in the previous year, marketing and PR activities were avoided in 2019 and the saved costs were donated to charity organizations. The high demand for the OPTURE seminars prompted us to offer additional dates for 2 seminars in 2020. In 2020 we will work out new seminar topics that we will first offer to our existing customers and possibly also to third parties in 2021. We will further expand the range of customer-specific seminars and ERM topics in 2020.

At OTURE AG all printed matter and letter paper will be created completely climate-neutral in the future. After we implemented the "paperless office" as part of digitalization our copy and printing activities were also outsourced. We have selected a special print shop as a partner for this, which creates all print jobs such as hard copies, presentations, letters and brochures in a completely climate-neutral manner for us.

The company OPTURE GmbH sued Mr Ralf Kimpel (chairman of the RMA e.V. and revision manager Burda Holding) in the beginning of 2018 at destrict court in Nuremberg because injunction of reputational damage. After approx. 1.5 years of litigation, we have withdrawn the lawsuit because the disputed statements were no longer made. However, we reserve the right to file the claim again at a later date.

After 10 years of cooperation, membership and sponsorship at the Risk Management Association (RMA), OPTURE AG, as one of the leading software providers of enterprisewide risk management systems, has decided to resign the cooperation with the RMA.
We are convinced that risk management has an significant impact to the improvement of corporate planning, decision-making processes and sustainable corporate management, beyond the fulfillment of legal requirements. Unfortunately, the RMA does not support this approach adequately. This results in the fact that risk management remains in most companies at "risk accounting" (like book keeping), and risk managers are often not perceived or used as sparring partners for executive managers for analysis of corporate objectives, projects or investments under risk-return aspects. The strategic orientation of the RMA, as well as its operational approaches and concepts in the last years, promote neither the favorable development of risk management in general nor the strengthening of the position of risk managers in their companies.

As part of the Opture Seminar "Risk Aggregation & KRI" in Zurich, the theoretical basics and practical cases for correct risk aggregation were presented and discussed. Especially, because in practice the evaluation of risks based on distribution functions is complex, complicated, imprecise and not very pragmatic for the risk owners, we have presented a pragmatic and innovative risk aggregation based on multi-factor models and compared it with conventional models. The presented aggregation model includes the advantages that (1.) the risks can still be quantified/evaluated by the decentralized risk managers (-> avoidance of a central risk assessment by specifying complex distribution functions) and (2.) the estimation error by specifying "incorrect / inaccurate" distribution functions is avoided. With the high performance Monte Carlo Simulator from OPTURE AG, users can execute the risk aggregation in a simple, reproducible and, above all, comprehensible way. The precision of the results is 5-10 times higher than using conventional simulators as an Excel plug-in. In the course about 3,000 risks were calculated under consideration of all correlations and about 10 million scenario simulations, with an "operating time" of about 30-45 seconds and highest precision (deviation 0.03 per mille). The results and special key risk figures were then discussed and interpreted within the group. The main focus and interest of this year's discussion has been the interpretation of sensitivities, i.e. how strongly the company (with the simulated data) depends on market factors and risk drivers, or how stable / robust the planning is against market fluctuations.

As part of the Opture seminar "Risk Reporting & Added Value", address-oriented risk reports were presented, analyzed and discussed. Particular attention was paid to the analysis results, their graphics and interpretation options. Innovative graphics and forms of reporting were presented. In addition, best practice risk reports from various industries were presented and customized solutions for selected participants were developed and discussed.

The seminar "Risk Management Basics" was fully booked this year and unfortunately we had to put some participants off to the next year. This topic is of particular interest to risk managers who want to build up or further develop their risk management in their companies. As part of the seminar, we presented alternative approaches and concepts for implementation and optimization for each ERM process step and each value added stage, in each case for the individual requirements and wishes of the specific companies and their framework conditions. In addition to the theoretical and practical basics, our risk management experts also presented different best-practice approaches from practice.

Also in this year, our seminar "Risk Management Models" was visited with great interest from the participants. We presented models and methods for an efficient risk management and worked on concrete examples and cases of seminar participants with the aim of developing pragmatic approaches for risk-adjusted and value-oriented corporate management in industrial companies.

In the business magazine Wirtschaftswoche (dated April 2019) Dr Mark Noetzold answered questions about "Intelligent Risk Management" in an exclusive interview. Topics discussed included how risk management can be integrated into the corporate strategy, where risk management software solutions are used in corporates, and what benefits risk management software solutions offer.

As part of the Opture seminar "simulation-based planning" in Zurich, we presented and discussed the content, structure, process and advantages of simulation-based planning (-> planning with bandwidth). The participants were especially interested in (a) the linking of risk management and controlling / planning, (b) the technical implementation (-> models and software) and (c) the presentation of advantages or benefits. This seminar is also booked as an in-house presentation and workshop with individual customers.

As part of the Opture seminar "Increasing data input quality" in Hamburg, we presented methods for significantly improving data quality in risk management. Therefore models and methods were presented that can be used to identify and quantify risks, opportunities and measures in order to depict the risk portfolio (-> risk inventory) efficiently and consistently (-> identification) and minimize the estimation error in the quantitative risk assessment. We introduce the participants to the different methods for optimizing data quality and how they can be generated with the risk management software. In order to illustrate the data optimization, real "use cases" of the participants were analyzed and optimized. In addition, the risk profiling concept developed by OPTURE was introduced, which combines established and new methods for data quality improvement. This "Risk Profiling Concept" is unique and can optionally be used in all risk management software solutions from OPTURE.

As part of the Opture Seminar "Risk Aggregation & KRI" in Zurich, the theoretical basics and practical cases for correct risk aggregation were presented and discussed. Especially, because in practice the evaluation of risks based on distribution functions is complex, complicated, imprecise and not very pragmatic for the risk owners, we have presented the risk aggregation based on the intuitively understandable 3-point distribution (-> loss and probability of best-, normal- and worst case scenarios). With the high performance Monte Carlo Simulator from OPTURE AG, users can execute the risk aggregation in a simple, reproducible and, above all, comprehensible way. The precision of the results is 5-10 times higher than using conventional simulators as an Excel plug-in. In the course about 1,000 risks were calculated under consideration of all correlations and about 10 million scenario simulations, with an "operating time" of about 30-45 seconds and highest precision (deviation 0.03 per mille). The results and special key risk figures were then discussed and interpreted within the group. The main focus and interest of the discussion has been the interpretation of sensitivities, i.e. how strongly the company (with the simulated data) depends on market factors and risk drivers, or how stable / robust the planning is against market fluctuations.

As part of the Opture seminar "Risk Reporting & Added Value", address-oriented risk reports were presented, analyzed and discussed. Particular attention was paid to the analysis results, their graphics and interpretation options. Innovative graphics and forms of reporting were presented. In addition, best practice risk reports from various industries were presented and customized solutions for selected participants were developed and discussed.

The seminar "Risk Management Basics" was fully overbooked this year and unfortunately we had to put some participants off to the next year. This topic is of particular interest to risk managers who want to build up or further develop their risk management in their companies. As part of the seminar, we presented alternative approaches and concepts for implementation and optimization for each ERM process step and each value added stage, in each case for the individual requirements and wishes of the specific companies and their framework conditions. In addition to the theoretical and practical basics, our risk management experts also presented different best-practice approaches from practice.

For the year 2018, we decided to largely refrain from marketing measures and sponsoring activities. Instead, we made a donation to Aktion Deutschland Hilft. The association is an alliance founded in 2001 by 23 renowned German aid organizations with the aim of helping people who have lost everything due to catastrophes. Patron is President a.D. Prof. Dr. Horst Köhler and chairman of the board of trustees is Foreign Minister Heiko Maas.

Also in this year, our seminar "Risk Management Models" was visited with great interest from the participants. We presented models and methods for an efficient risk management and worked on concrete examples and cases of seminar participants with the aim of developing pragmatic approaches for risk-adjusted and value-oriented corporate management in industrial companies.

As part of the Opture seminar "simulation-based planning" in Zurich, we presented and discussed the content, structure, process and advantages of simulation-based planning (-> planning with bandwidth). The participants were especially interested in (a) the linking of risk management and controlling / planning, (b) the technical implementation (-> models and software) and (c) the presentation of advantages or benefits. This seminar is also booked as an in-house presentation and workshop with individual customers.

OPTURE AG and Prospero AG enter into a cooperation. Prospero is a company that is specialized in data analysis (-> big data) and risk forecasts in complex structures (-> predictive analytics).

As part of the Opture seminar "Increasing data input quality" in Hamburg, we presented methods for significantly improving data quality in risk management. Therefore models and methods were presented that can be used to identify and quantify risks, opportunities and measures in order to depict the risk portfolio (-> risk inventory) efficiently and consistently (-> identification) and minimize the estimation error in the quantitative risk assessment. In order to illustrate the data optimization, real "use cases" of the participants were analyzed and optimized. In addition, the risk profiling concept developed by OPTURE was introduced, which combines established and new methods for data quality improvement. This "Risk Profiling Concept" is unique and can optionally be used in all risk management software solutions from OPTURE.

As part of the Opture Seminar "Risk Aggregation & KRI" in Zurich, the theoretical basics and practical cases for correct risk aggregation were presented and discussed. Especially, because in practice the evaluation of risks based on distribution functions is complex, complicated, imprecise and not very pragmatic for the risk owners, we have presented the risk aggregation based on the intuitively understandable 3-point distribution (-> loss and probability of best-, normal- and worst case scenarios). With the high performance Monte Carlo Simulator from OPTURE AG, users can execute the risk aggregation in a simple, reproducible and, above all, comprehensible way. The precision of the results is 5-10 times higher than using conventional simulators as an Excel plug-in. In the course about 3,000 risks were calculated under consideration of all correlations and about 10 million scenario simulations, with an "operating time" of about 30-45 seconds and highest precision (deviation 0.03 per mille). The results and special key risk figures were then discussed and interpreted within the group. The main focus and interest of this year's discussion has been the interpretation of sensitivities, i.e. how strongly the company (with the simulated data) depends on market factors and risk drivers, or how stable / robust the planning is against market fluctuations.

As part of the Opture seminar "Risk Reporting & Added Value" in Hamburg, we presented, analyzed and discussed addressee-specific risk reports. For example, different executive summaries and presentation reports were evaluated with regard to the level of detail, significance, control efficiency and value added for the design of efficient risk reports. In addition, best practice risk reports were presented from different sectors and customer-specific solutions were developed for selected participants.

The topic "Risk Management Basics" is particularly popular for risk managers who establish or develop their risk management system. As part of the seminar we presented alternative approaches and concepts for implementation and optimization of each ERM process and added-value stage regarding to the individual requirements of the specific participant companies and their surrounding conditions.
In addition to the theoretical and practical ERM basics, our risk management experts also presented different best practice approaches.

OPTURE AG has been named as a winner in Worldwide Business Review’s 2017 Swiss Business Excellence Awards. The research team have spent the last few months examining the Swiss market, looking for companies who over the past 12 months (July 2016 – July 2017) have stood out from the crowd. As part of the in-depth selection process, the research team was particularly interested in firms that had: (a) achieved rapid growth within this time, (b) demonstrated consistent/growing sales and (c) shown true innovation within their field. OPTURE AG has been named as an exclusive winner in its category (IT).

As part of our seminar on "Risk Management Models" we presented and discussed innovative and practice-relevant models (and methods) for Enterprise risk management in industrial companies.
In addition, development approaches were presented for the various "development stages" of risk management within selected companies. In this context, the question was discussed how the acceptance and benefit generation of risk management in a company can be further increased.

The seminar on simulation-based planning was mainly attended by controlling employees this year (some in personnel management union with risk management). Of particular interest was the linking of planning / controlling and risk management, with regard to the calculation and presentation of bandwidths and fluctuations of planned figures of the profit and loss statement. Based on real business cases, the stability of the company and sensitivity of the planned return (e.g. earnings) against environmental fluctuations were calculated and individual market scenarios were calculated.
Due to the great interest, we will offer another seminar for simulation-based planning this year (please contact us for further dates).

The seminar "Increasing Data Input Quality" was fully booked again this year. The individual "use cases" and their solutions- and optimization approaches are of great interest to the participants. In the future, we will also offer this seminar during the whole year, on the destination of the interested company. With this company-specific seminar, interested parties can directly optimize the data quality of their induvidual risk portfolios / inventories.

Within the Opture seminar "Risk Reporting & Added Value", we presented, analysed and discussed risk reports for different addressees. In addition we presented best practice risk reports from different sectors and developed customer-specific solutions for selected participants.

OPTURE AG was a participant and sponsor at the "RMA Annual Conference 2016"

Also in this year, our seminar "Risk Management Models" was visited with great interest from the participants. We presented professional models (and methods) for an efficient risk management with the aim of discussing pragmatic and realistic approaches for risk-adjusted and value-oriented corporate management in industrial companies.

OPTURE AG wins the Red Herring Top 100 Europe Award. The Red Herring Top 100 award highlight the most exciting companies from Asia, Europe and the Americas. Hundreds of companies from each region are reviewed in a rigorous 3-step process that looks at all aspects of the company. Applicants must be (a) a technology- or life-science-company, (b) headquartered in the above mentioned regions and (c) privately held and not listed on any stock exchange in the world. Red Herring 100 Awards are widely recognized as one of the industry’s more prestigious recognitions. Red Herring uses more than 20 criteria to analyze the companies.

On 1 June 2016, we rented new offices in the Canton of Zurich. The address is: OPTURE AG, Garstligweg 6, CH-8634 Hombrechtikon/Zurich. With our office in Hombrechtikon, we have been able to expand our already existing office space.

The seminar on "Simulation-based Planning" took place this year in Munich. The participants gave very positive feedback on the teaching of the theoretical basics, the practical examples presented and the expertise of the external and internal speakers,

Lecture, workshop and "case studies" at the Bundesverband Sachwerte und Investitionsvermögen for implementation of risk management systems and the integration of these into planning.

Our seminar on "Increasing data quality" was fully booked again this year. Employees of OPTURE presented "case studies" from practice, methods and "best practice" approaches on how to significantly improve data input quality in risk management.

The OPTURE AG Round Table for the automotive industry on "Simulation-based Planning" took place this year in Hamburg. In addition to lectures drawn from practice, we discussed with representatives from automotive manufacturers and suppliers the advantages and necessity to consider the "uncertainties of the future" in planning and controlling.

Presentation of "Simulation-based Planning" and the integration of risk management into corporate planning within the framework of the working group Quantifizierung of the RMA e.V with explanation and detailing of the methods, models and processes.

Lecture about the introduction of "Simulation-based Planning" and the linking of risk management and controlling/planning.

OPTURE AG was a participant and sponsor at the "RMA Annual Conference 2015"

Expert interview with Dr. Mark Noetzold on the success factors in risk management systems (Note: "Die Wirtschaftswoche" is a German business magazine published by Verlagsgruppe Handelsblatt GmbH).

OPTURE AG and RiskMethods GmbH sign a cooperation agreement. RiskMethods is a company that specialises in supply chain risk management.

OPTURE AG was a participant and sponsor at "Risk Minds 2015".

Our seminar "Increasing Data Quality" was a great success. The seminar was booked out and the participants rated the seminar as very helpful for their practical work in risk management. Experts from OPTURE AG presented "case studies" from practice, methods and "best practice" approaches on how to significantly improve data quality in risk management.

The employees of OPTURE AG were authors for the "Hamburger Abendblatt" (Note: the "Hamburger Abendblatt" is a renowned daily newspaper at our office location in Hamburg) on the special issue on the topic of risk management.