To stay on top of their game in today’s complex business environment, enterprises are pursuing risk and compliance initiatives. Unintegrated governance of risk and compliance can lead to duplication of efforts and silo view in the enterprise. A well-defined GRC system can rationalize the organization structure and eliminate effort duplication by monitoring and controlling the co-ordination of risk and compliance initiatives.
A UK based Building Management Systems Company was following a traditional manual approach of commercial management that led to inadequate internal governance and disorganized sub-contractor payments due to insufficient or wrong information exchanged between the contractors and the internal team. To reduce risks and make sure that all the stakeholders are on the same page, the company wanted a GRC system that can enable all the stakeholders to work together on a single automated commercial management application.
Econsys, a commercial management GRC solution was built on Amper and hosted on the cloud to manage all the contractual and commercial phases of their construction projects from inception to completion. The system enables all the stakeholders to work on a single interface and allows them to: