2014 GRC Technology Innovation Award: Convercent Delivers Agile Compliance Reporting

The 2014 GRC Technology Innovation Awards was filled with competition.   Nominations increased to 62 over last year’s awards, and fifteen winners were selected.  GRC 20/20 looked through all of the submissions, asked for clarification where needed, and selected15 recipients that demonstrated outside the box thinking in taking GRC in new directions to receive this year’s award.

Convercent Delivers Agile Compliance Reporting

Nearly every business function in today’s organization has benefitted from a transformational shift in how data is used to enable business agility – the ability to deliver meaningful intuitive information at a moment’s notice and enable accessibility across devices from computers, laptops, tablets, and mobile devices. However, compliance has struggled with systems in which information is neither agile nor mobile. The effect is a blurred or inaccurate picture of compliance risk. In today’s business, understanding a true picture of compliance at any point in time is critical. Compliance programs struggle with mountains of data in documents and emails or with expensive and non-intuitive solutions that create challenges to managing compliance effectively. Technology is a limiting factor to many ethics and compliance programs and is manifested in:

  • Increased exposure. Inability to make rapid decisions, and inability to draw historical benchmarks or predictive analysis based on integrated trends
  • Reduced efficiency. Time inefficiency to aggregate information into board/audit/executive reports
  • Increased cost. Utilizing manual processes to do what technology can streamline, centralize and automate.

Convercent is a cloud-based solution that delivers integrated reporting across key compliance functions, including policy management, learning management, hotline and investigations to enable effective compliance risk monitoring and mitigation. This is done through an elegant and intuitive user interface that delivers depth while minimizing technical acumen needed.  With Convercent it becomes easy to rapidly report on issues and understand what trainings and policies an employee has received and attested to at a moment’s notice. The ability to drill down to the individual level allows organizations to track and monitor developing compliance risks, and proactively analyzes and reports on information that highlights compliance efforts.

Convercent provides three layers of reporting and analytics, ranging from at-a-glance dashboards that enable program monitoring to effective oversight at the board level through the ability to use Microsoft Office tools to create a “two-click board report” in real time. Convercent allows for business agility within compliance departments and a reduction in costs associated with manual processes that is supported by three levels of reporting and analytics capabilities:

  • Dashboard Reporting provides the ability to understand performance at a glance. Compliance managers can monitor case management, policy and training health to get a high level overview on how the organization’s ethics and compliance program is performing.
  • Web-Based Reporting provides rapid understanding of issues that are occurring in real time. A variety of prebuilt case management reports are available for the compliance manager to present the information the way it needs it.
  • Convercent Data Services puts powerful and customizable reports at the organization’s fingertips. It provides the ability to collect real time ethics and compliance data in Convercent and immediately transfer it into Microsoft Excel and PowerPoint utilizing open standard oData technology.

To learn more about the GRC 20/20 2014 GRC Innovation Awards and other recipients, please visit this post: GRC 20/20 Announces 2014 GRC Innovation Award Recipients

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