EtQ
ETQ: A One Stop Enterprise Risk Management Solution for All Compliance Needs

Once siloed into specific areas like governance, safety and quality, compliance has distinctly changed over the years—it has consolidated into a more holistic view by including operational risk management in its folds. As compliance transitions to this consolidated approach, it becomes critical for stakeholders to not only be involved in the process of compliance, but to also manage, track and mitigate risks. Adding to this, access to compliance data, which is inherently sensitive, must be carefully segregated to specific groups and stakeholders within the organization. There is also an increasing convergence of ISO standards for quality, environmental and health and safety management around common practices and risk management, driving the market to a look for a system that can meet all their needs and replace legacy point solutions.

Technology holds the potential to address all these needs and EtQ, a Farmingdale, New York based company, is at the forefront of building comprehensive tools to help with compliance and risk management. The company’s enterprise compliance platform is designed to automate the most common business processes that organizations employ to ensure enterprise-wide compliance. “Our solution allows the client to configure the workflows, forms, fields, keywords and business rules that drive the process, without the need for programming,” says Morgan Palmer, CTO, EtQ. Coupled with the ability to insert quantitative risk tools at any step in the process, EtQ provides a solution that not only automates the compliance processes, but also makes any process “risk-free.”

Our solution allows the client to configure the workflows, forms, fields, keywords and business rules that drive the process, without programming

EtQ’s Risk Register is one such toolset. It enables organizations to build a risk management plan and then perform risk assessments in a selected operational process, which provides quantitative measures to calculate risk at the process level. Risk Register risk identification with risk analysis in a consolidated framework that enables organizations to see a “top-down” picture of compliance.

Organizations can more effectively identify, mitigate and prevent high-risk events from recurring and make more informed decisions about how to improve compliance in their organization.

EtQ has also built a robust set of reporting and analytics tools that enable key compliance data to be organized in logical and visual ways. This fosters continuous improvement, effective management of change and ultimately provides visibility and control of enterprise-wide compliance and risk.

“The concept of a configurable workflow has enabled us to provide a platform that truly meets the unique needs of each customer that invests in our products,” says Palmer. For instance, a customer was seeking to consolidate their compliance system, fractured from years of implementing various point solutions to accomplish specific compliance tasks in different areas of the business. After a careful review, they recognized that EtQ’s robust compliance platform had all the components for tracking and managing all their compliance processes across their operations. It also had the traceability, best practices and analysis to help the customer gain control over, and ultimately “lean” their processes, all in one system.

EtQ’s plan is diverse, and certainly emphasizes innovation as a primary goal. “Our mobile platform is growing exponentially within our customer base. Right from the start we decided that our “app” should be much more than just another point solution and, instead, be a complete platform that can automate a wide variety of mobile processes,” says Palmer. This factor enables customers to mobilize any process they want, and even create their own unique mobile solutions on EtQ’s platform. EtQ also continues to push into the cloud as a deployment option. “We are now taking this further by offering a unique cloud portal that offers customers the ability to collaborate with their suppliers and external parties online, without granting access to their internal system,” says Palmer.