SOURCE: EthicsPoint

EthicsPoint

September 10, 2010 09:00 ET

EthicsPoint Heralds New Era in Risk Visualization

epVisualization Manager Aggregates Disparate Data to Help Organizations Quickly Identify Organizational Risks

PORTLAND, OR--(Marketwire - September 10, 2010) -  EthicsPoint, a recognized innovator in helping organizations raise visibility and mitigate operational risk, today announced the release of epVisualization Manager (epVM), a dynamic, innovative way to view Governance, Risk, and Compliance (GRC) data in an easily digestible location-based dashboard. In tandem, the company today launched a Third-Party Risk Assessment QuickStart Service designed to allow organizations to better identify and understand the risk and complexity that exists within their extended enterprise and proactively move to mitigate those vulnerabilities.

Visualizing Risk in a Global Economy
The first new application added to the EthicsPoint software Framework announced in May, epVM, allows customers to create and customize dashboards to monitor risk events at all levels of an organization. epVM displays existing location-based data -- from internal sources (i.e. HR, internal audit, employee hotline or other internal database) -- and overlays it with a wide array of available RSS feeds and email-based alerts. The solution also supports a variety of existing and custom data feeds to create a revolutionary visual data 'mash-up,' all enabling users to view correlations between certain operational or environmental factors and the associated increase in risk.

Examples of how epVM can be utilized:

  • A risk manager reporting to their Board on a quarterly basis about growing risks facing the organization can use epVM to upload company data and easily create heat maps displaying all company locations experiencing a reduction in staff hours and overlay it with data on whether these locations have experienced an increase in internal theft.
  • An HR manager who deploys harassment trainers to locations across the country could use the system to track which locations have completed training and, beyond that, to display nuisance incident trending since the last training.

"The acquisitions we made earlier this year were designed to more richly support solution-driven customer needs and we deliver the first part of that with epVM. We trust that helping organizations gain new understanding visually from the same old data will lessen their exposure to risk," said David Childers, president and chief executive officer of EthicsPoint. "People are visual learners, so taking complex data and turning it into a visual display allows viewers to process the information in a different way, seeing trends and patterns that may not have been visible before and can now be not only seen, but are quantifiable and actionable."

The SaaS-based epVM provides ethics and compliance officers, internal auditors, risk managers, the general counsel and other GRC-related roles to:

  • Create dashboards of aggregated information that display where risks lie to provide company executives or Boards with high-level snapshots for reporting
  • Provide holistic enterprise views of misconduct reports and reveal patterns and trends by geographical region
  • Overlay key business partner locations to easily identify, monitor and manage high risk supplier, vendor and agent relationships
  • Connect an organization's high incident hot-spots with targeted training and awareness programs

Assessing Risk Posed by Vendors, Suppliers and Agents
In line with the complexities seen in sifting through data to mine risk, today's business marketplace also requires companies to deal with an ever-expanding global landscape. And with worldwide expansion comes an increase in risk posed by third-party relationships. For instance, prosecutions of violations of the Foreign Corrupt Practices Act have skyrocketed in recent history -- the eight largest enforcement actions of all time have only occurred in the last two years -- and the recently passed UK Bribery Act extends the scope of anti-fraud measures with which companies must comply. All told, organizations are becoming more accountable for the actions of their vendors, suppliers and agents, regardless of their geography and EthicsPoint's new Third-Party Risk Assessment QuickStart is designed to allow organizations to better identify and understand the risk and complexity that exists within their extended enterprise and proactively move to mitigate those vulnerabilities.

The QuickStart service uses a combination of an organization's internal information, data from trusted third-party sources and proprietary risk-ranking methodology to reach conclusions based on each organization's individual risk appetite and sensitivities. The resulting rankings rate each vendor, supplier and agent an organization employs and enables implementation of an appropriate risk strategy that aligns with their overarching GRC objectives.

SCCE Show Demonstration
Demonstrations of epVM will be shown at the Society of Corporate Compliance and Ethics (SCCE) 2010 Compliance & Ethics Institute in Chicago from September 12-15, 2010. EthicsPoint will be located in Booth #200 and will be running demonstrations for the duration of the show.

About EthicsPoint
EthicsPoint is a recognized innovator in helping organizations raise visibility and mitigate operational risk. We help our clients protect their culture and reputation by facilitating the gathering of data that identifies current risks, managing the intake and evaluation process and enabling them to proactively mitigate future adverse events. More than 2,300 organizations use our products and services to align their business processes with their code of conduct, increasing awareness of potential organizational risks -- a critical component of their overall governance, risk and compliance efforts. For more information, please visit www.ethicspoint.com.

Contact Information

  • Contacts:
    Simmi Singh
    EthicsPoint PR
    Direct: (503) 924-1643
    Email Contact