Video Transcript

Compliance

Companies are faced with an ever-increasing range of regulatory requirements. Ensuring compliance is becoming more and more complex to monitor. Having a clear understanding of where the risk of non-compliance is greatest is essential.
While organizations are compelled by law to be compliant with acts and regulations, there are also industry standards and stakeholder expectations which organizations are required to conform to.
But what is compliance? Simply put, it is all about conforming to the controls and procedures imposed on your organization by appropriate legislation, codes, standards, guidelines and internal policies.
Organizations are faced with having to manage a wide range of compliance requirements. This is often done through various compliance initiatives which generally start as projects to meet specific requirements. However, in order for compliance management programs to be effective, they need to be repeatable, sustainable, and visible.
Traditionally, this is managed using a variety of stand-alone or spreadsheet-based systems. Such environments do not provide clear visibility into an organization’s risk and compliance profiles; compromise efficiency, and increase the risk of non-compliance.
How does IsoMetrix compliance management software solution meet the requirements?
IsoMetrix is built using an Agile Application Framework which enables non-technical people to create sophisticated solutions, quickly and easily. Every single form and field is user defined, allowing us to deliver a bespoke solution for your business quickly and cost effectively. But while every customer has a tailored solution, they all share the same source code. As a module is saved, the Microsoft SQL Server database is created dynamically, allowing people with no experience in development to create web-based applications with ease. IsoMetrix is at the forefront of the way software is evolving.
Here is a typical module for Compliance assessment rating. If you wanted to capture an additional field such as a Compliance Ranking formula, this can be achieved in minutes simply by going into the module editor.
Whilst the software can be easily tailored to align with your internal compliance management methodologies unique to your industry and organization.
IsoMetrix is also provided with off the shelf functionality to assist organizations of any size in managing their compliance requirements
The IsoMetrix Compliance Management Solution provides a central platform and an integrated risk-based approach to managing all compliance requirements faced by organizations.
The solution provides a robust compliance management framework which seamlessly integrates with the IsoMetrix Enterprise Risk Management, the IsoMetrix Health, Safety, Environment and Community Management and the IsoMetrix Sustainability Management solutions to name a few.
Compliance risks faced by an organization are identified; controls to protect an organization from these risks are designed and implemented; the effectiveness of the implemented controls is monitored and reported upon, allowing for the resolution of compliance difficulties as they occur.
An organization’s compliance universe typically includes applicable legislation as well as standards; guidelines and internal policies. These can be integrated into the IsoMetrix Compliance Universe from third party suppliers or easily created as compliance templates by your users directly in the solution.
Compliance templates provide the organization with a framework to set up a limitless set of compliance requirements covering every aspect of your company’s compliance universe. These could be based on legislation such as Sarbanes-Oxley, standards such as ISO 31000, guidelines such as GRI, or internal policies around procurement and supplier payments for example.
While the compliance templates give the organization the flexibility to manage compliance against their entire compliance universe, organizations typically require a more structured approach specifically when dealing with legislative compliance. To this end, IsoMetrix offers a tailored regulatory compliance universe with legal content provided and updated by your third-party legal content provider.
What does it involve?
The implementation of the IsoMetrix Compliance Management Solution provides many organizational benefits.
Your organization’s tailored Regulatory Compliance Universe is populated with all the acts (both national and provincial) and regulations including legal codes and legal standards which are material to the organization. The material sections of each piece of legislation are summarized in plain English, with the applicability and potential penalties of each section clearly displayed.
For the legal universe to remain valuable, and to comply with the requirements of ISO, OHSAS and King III, for example, it is updated regularly. The updates include the identification of new, amended and additional applicable legal requirements as well as updating full versions and the actual text of identified legislation. Summaries of applicable sections in layman’s terms; the classification of legislation; and the linking of applicable search topics are also updated.
The Legal Update Bulletin sends users periodic updates on new acts, regulations, bills, draft regulations, notices, white papers and green papers, local and provincial legislation and newsworthy items in the legal universe. News Flashes are sent to users informing them of the relevant notifications as and when they are published in Government Gazettes.
Based on the user’s selection of a relevant topic or a particular legal document, the Compliance Risk Assessment generates compliance checklists directly from the compliance universe. The organization is then able to assess the compliance risk for each requirement, knowing that they are assessing against their current requirements and the latest legislation.
The compliance risk assessment can also include a combined assurance approach.
Controls for all high-risk compliance issues are identified and documented through the Control Identification and Assessment module.
These assessments form the basis of ongoing control monitoring via scheduled assessments or through control self-assessments which are conducted regularly by the control owners throughout the organization. Once again the control monitoring can include a combined assurance approach.
The Non-Compliance Register enables the management of business incidents, loss events, and non-compliances as an integral part of the compliance management framework. These can be logged and investigated, and action plans can be set up to correct problems and prevent recurrence.
The dashboards, powered by QlikView, allow non-compliance to be viewed at all levels of the organization. The QlikView dashboards are provided to every user as part of an international OEM agreement.
Consolidated Action Plans are compiled via the Central Action Manager collating all actions arising from all compliance modules. The management team is able to ensure accountability is taken for specific tasks through the alerts and dashboards, driving continual improvement within the organization.
All of these benefits are visible through QlikView’s insightful and interactive dashboards which are designed to drive operational improvement at all levels of the organization.
The dashboards allow you to view compliance risk across the entire organization.
Key control weaknesses and failures are easily identified and addressed.
Trends become visible in non-compliance incidents allowing you to implement necessary change.
The implementation of the IsoMetrix Compliance solution allows for many organizational benefits, the most important of which is integration, real-time visibility and indicator performance against strategic initiatives and compliance conditions. IsoMetrix helps to drive accountability in these areas through the allocation and monitoring of actions to individuals.
Section 4: Summary
The IsoMetrix Compliance Managment Software Solution gives your organization an all-encompassing view of your tailored legal and regulatory compliance universe.
Consistent, repeatable and visible compliance assessments, against those requirements defined within your organization’s compliance universe, are facilitated.
Control management is streamlined enabling process owners to take direct responsibility for managing controls and allowing auditors to focus on key compliance risks.
The tracking of action plans to address any noncompliance, compliance risk or deficient control is enabled.
Comprehensive compliance dashboards are provided, offering enterprise visibility into compliance and highlighting issues which need to be addressed.
Whilst IsoMetrix comes with a host of solution templates for the management of all aspects of GRC, it is an agile tool and is therefore exceptionally easy to tailor the solution to your organization’s requirements or even to configure new solutions around bespoke requirements.
Here is a typical module for Compliance assessment rating. If you wanted to capture an additional field such as a Compliance Ranking formula, this can be achieved in minutes simply by going into the module editor.
Whilst the software can be easily tailored to align with your internal compliance management methodologies unique to your industry and organization.
Seamless integration with IsoMetrix Enterprise Risk Management, IsoMetrix Health, Safety, Environment and Community management and IsoMetrix Sustainability management is provided.

Increase efficiency and reduce the risk of non-compliance with IsoMetrix’s Compliance Management and Legal Register solution

For compliance management software to be effective, it needs to be repeatable, sustainable, and visible.

Traditionally, compliance is managed using a variety of stand-alone or spreadsheet-based systems. Such environments compromise efficiency and increase the risk of non-compliance because they do not provide clear visibility into an organization’s risk and compliance profiles.

The IsoMetrix Compliance Management software solution provides you with a central platform for integrated risk management that seamlessly integrates with other IsoMetrix solutions such as ERM, EHS, and Social Sustainability.

The innovative, hyper-agile platform IsoMetrix is built on enables us to provide our customers with Solution Templates that are based on industry best practice, and also to tailor the solution to accommodate specific processes and methodologies.

Find out how IsoMetrix can help you with your
enterprise risk and compliance needs.

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Why IsoMetrix?

The evolution of GRC software has strong parallels with that of ERP. 30 years ago, most companies had heavily fragmented ERP Systems: - a General Ledger from Supplier X, - a third-party Cashbook add-on, - an internal database for stock control, - spreadsheets for sales orders and - paper-based Purchase Orders. From the chaos of these separate systems arose the order of fully integrated ERP software suites. The evolution of GRC software has strong parallels with that of ERP. GRC systems are typically still fragmented; companies will have disparate electronic, spreadsheet and paper-based systems to manage quality, risk, safety, environment, business resilience, occupational health and hygiene, sustainability and many more. Fragmented systems bury important insights into the business, making effective management all but impossible. Only what is measured can be improved. By replacing unintegrated systems with a truly integrated solution, IsoMetrix introduces significant business efficiencies and provides visibility against HSE and GRC performance targets. The clarity an automated, integrated system provides drives informed decision-making. Enterprise risk disciplines are cross-functional, and focused on the impact on financial performance. Operational risk disciplines, however, are often treated separately even though they are usually inter-related. For example, a Quality incident could materialize in potentially significant impacts on Safety, Environmental, and Social. IsoMetrix consolidates modules such as loss events, non-conformances, safety and environmental incidents into an Events Module that is closely integrated with other modules such as Risk Assessment and Audit Management, promoting an understanding of the associations between different risk disciplines. So, what makes IsoMetrix such a powerful, integrated solution? All IsoMetrix applications are built using 15 basic building blocks, or controls. Like the base code of DNA, these controls can combine in an infinite number of combinations to form applications that cover all aspects of Governance, Risk and Compliance. Our customers get completely configured solutions but all use exactly the same source code, making IsoMetrix easy to support and upgrade. In addition, all data in IsoMetrix is related across all modules, producing a truly interconnected, holistic understanding of your business. Different users experience IsoMetrix differently. Andrea is a field employee who needs to Report a Hazard or an Incident. To do so, she can simply access IsoMetrix via her straightforward web interface, or via an app on her smartphone or tablet. It is quick and simple for her to enter the basic details of the incident. John – Andrea’s safety manager – is alerted about the incident via email. When he logs into IsoMetrix, he can validate the incident details and allocate the task of investigating the incident. John has configured his interface to highlight what is important to him. The personalised dashboards ensure he is able to manage by exception, focussing his attention where it is needed. Mirriam, the Director of Sustainability, interacts primarily with the system dashboards. She analyses them regularly: acting on trends, monitoring performance against targets, and keeping a close eye on leading indicators. Gone are the days of her capturing data to compile reports. With IsoMetrix, her system lives in real time. When she needs a report, she can generate one at the click of a button. As a result, Mirriam can spend more time planning and less time reacting. Data flows into IsoMetrix from multiple sources: • entry forms captured by employees, contractors and suppliers • handheld devices • smart meters • external databases such as ERP and HR systems • and the wearables, beacons and drones that make up the Internet of Things. Separate, this data is meaningless, but brought together into a cohesive whole, it provides an accurate picture of the governance health of the business, and allows the business to make better decisions based on predictive analytics The IsoMetrix Dashboards convert all this data into information, allowing you to identify high-risk activities, areas, and processes, as well as areas for improvement. IsoMetrix helps you to make better, informed decisions. At IsoMetrix our vision is to help you do Good Business.

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Legal Register

The compliance and regulatory landscape is constantly evolving, making it difficult to stay up to date. The IsoMetrix Compliance Management solution fully integrates with leading content providers to populate the solution’s Regulatory  Compliance Universe with all the legislation and regulations material to your organization.

The Legal Update Bulletin sends users periodic updates of new acts, regulations, bills, draft regulations, notices, white papers and green papers, local and provincial legislation and newsworthy items in the legal universe. Additionally, News Flashes are sent to users informing them of the relevant notifications as and when they are published in Government Gazettes.

Benefits

  • Gives the organization an all-encompassing view of its compliance universe
  • Integrates with 3rd party providers for a tailored legal and regulatory compliance universe
  • Enables consistent, repeatable compliance assessments against the requirements defined within the organization’s compliance universe
  • Streamlines control management, enabling process owners to take direct responsibility for managing controls while allowing auditors to focus on key compliance risks
  • Facilitates the tracking of action plans to address any identified non-compliance, compliance risk or deficient control
    Provides comprehensive compliance dashboards which offer enterprise-wide visibility into compliance and highlight issues that need to be addressed
  • Provides seamless integration with IsoMetrix ERM, IsoMetrix EHS Management, and IsoMetrix Sustainability Management solutions

Our Customers

 
 

Our Compliance Management solution will help you comply with the following:

  • National and international legislation
  • King IV
  • Sarbanes-Oxley
  • GRI
  • Internal policies and procedures
  • ISO 31000

Integrated processes in the Compliance Management Software solution

  • Compliance Assessment
  • Compliance Checklist
  • Compliance Universe
  • Non-compliance Register
  • Action Manager
  • Meeting Management

Our Industries

 
 

If you would like more detailed information about our Compliance Management Software solution, you can download our brochure:

About IsoMetrix

We have designed our world-leading, integrated risk and compliance management software for HSE and sustainability experts who know what they want. At IsoMetrix we believe in Good Business. For us, that means helping you on the journey to a sustainable future, in which we look after our planet, the people and communities we work and live with, and ensure reduced risk – building more profitable and resilient organizations. In helping our customers to do good, we also help them do well. With offices in the USA, Canada, South Africa and Australia, IsoMetrix is geared to serve you at a global and local level.