Risk and Compliance

Risk Management

The Enron scandal and subsequent blue-chip scandals since 2000 has resulted in greater focus being made by major shareholders and regulators on the way that company directors & senior management are managing risk.

With wealth generation usually being the key strategic objective, the sustainable business must identify and mitigate corporate risk in a number areas, the most common being:

• Strategic
• Financial
• Operational
• Regulatory Compliance
• Health & Safety, Environmental, SOX, Basel II

Apart from bankruptcy, damage to the organisation's reputation is one of the most serious business risks. In order to minimise risks across the organisation, it should be seen as a company-wide responsibility through an integrated approach.

The most appropriate carrier mechanism to deliver unambiguous instructions to the workforce is the business process.  An article in  Computer Weekly in Feb 2002 by major US consultancy - McKinsey,  "Legislation drives business process management, supports the fact that the need for global processes was helping address such legislation as SOX, ISO, H&S, E&Q) etc. though involving directly with core functions of the organisation."

The Agility software provides a comprehensive "holistic" model which integrates all the organisations' business elements together in one framework allowing risk & compliance issues to be displayed within the each relevant business process.

Automation ensures that: `specific tasks are assigned to the appropriate people within the organisation in a fully auditable and transparent way. As BPM can automate tasks, it allows the organisation to have greater control over high-risk accounting`.

From the software vendor's viewpoint, automation suggests that it can completely replace human decision-making however there needs to be a supporting medium, that of visible processes which are aligned with the  organization structure and intuitively lead personnel into the decisions which support the values of the organization.

BusinessPort provide powerful, proven software which allows the Business Processes to be visually created to clearly identify personnel responsibilities within the set of activities, and through our alliance partners, automate processes as appropriate. Should you require specialist assistance, we have a Project Support Division who provide experienced Process Analysts to map the Business Processes with speed and skill that reduces development costs allowing you to continue daily operations with minimum distraction.

Compliance

Sarbanes-Oxley (SOX) legislation may be the compliance issue of the moment for many but it is one of over 150 regulations and directives worldwide. The regulatory environment continues to evolve, with more demanding requirements on the horizon, (Basel II, 8th Directive) and other EU legislation currently in the pipeline.

Forward-thinking companies understand that compliance is an opportunity to enable truly improved business efficiency. Leveraging compliance to drive business improvements should be a key goal of all organisations.

BusinessPort not only helps you meet the regulatory requirements of today but also enables you to improve and sustain business processes that positively impact the bottom line.

BusinessPort provides you with the ability to prove, beyond doubt, to regulators, auditors and board members that current statutory compliance and internal operating procedure best practices are accurately deployed, communicated and implemented.

Please also see our Products.