Nick Bednorz, CEOGovernance, risk and compliance (GRC) strategy is the key to manage the ever-changing regulatory landscape and meet business compliance. Most organizations rely on a manual and siloed approach for risk and control management that is inefficient, out-of-sync, and lacking agility. However, implementing a GRC strategy across all organizational levels is not a simple task, owing to the distributed, dynamic, and global business environment. Without common integrated strategy, automation, and architecture, organizations will struggle with the cost and effectiveness of managing compliance risks.
To view the big picture of risk, compliance and internal controls, and its impact on an organization’s performance and strategy, a complete situational awareness of risks and controls across operations, processes, relationships, and systems, is needed by organizations today. “This is precisely where Comensure fills the gaps with an umbrella GRC automation tool that provides real-time visibility to the status of all your compliance activities,” says Nick Bednorz, CEO of Comensure. Comensure’s GRC platform brings business value and a contextual understanding of risk, compliance, and controls within organizations, helping them to be efficient, effective, and agile in managing internal controls, audits, issues, and risk in dynamic environments. Comensure added another feather to their cap when they were honored as the Gold winner in the 2017 Golden Bridge Awards for governance, risk, and compliance innovation with their flagship product being recognized for its innovative, simplified approach to managing risk and compliance activities.
What sets Comensure apart from others is that it provides integrated information architecture for the complex taxonomy of business processes, risks, and controls, mapped to compliance objectives and frameworks. Another factor that gives Comensure an edge over the competition is the relative ease of adoption and the flexibility of the platform to support all compliance activities. End-user adoption is greatly enhanced with Comensure’s “Simplified View” that is generally used by the control or action performers in the system. The Simplified View provides a streamlined interface that supports effective monitoring and completion of required compliance activities on time. This lends to on-going consistency in compliance programs.
Transparency and efficiency are supported in Comensure through configurable “Actions” and their related workflows. Actions define what needs to be done, by whom, and by what timeline in the system. Furthermore, email notifications and visibility to the current status of required actions allows for a clear understanding of responsibilities by all users.
Comensure’s architecture enables real-time management of complex compliance requirements associated with enterprise risk management.
As an umbrella GRC automation tool, we provide real-time visibility to the status of all compliance activities
The company’s end-to-end compliance automation platform delivers an intuitive user interface that allows executives to monitor enterprise compliance performance from one application and view.
Comensure allows for a master hierarchy control structure that can be applied across any business units or locations. “Unlimited compliance frameworks, from regulatory to operational, can be supported simultaneously,” explains Jessica Getz, VP of Product Development.
One of the biggest strengths of Comensure’s GRC platform is that it is cross-industry, which means it can cater to the needs of regulatory and operational compliance of any industry. Comensure’s customers are represented across many industries including: oil & gas, financial services, pharmaceuticals, healthcare, governmental agencies, retail energy, software and hospitality. Comensure is integrated with Symplr (healthcare), Penn Virginia (oil and gas) and Plumas Bank (finance/banking).
Penn Virginia is an independent oil & gas company, adopted Comensure to gain efficiencies and automation of their SOX compliance activities. As Penn Virginia saw that acquisitions or divestitures were happening at a faster rate, they knew the time was ripe to get more organized around SOX compliance. Comensure helped the company by eradicating their concerns relating to manual compliance activities, version control, and inefficient processes. Within a week, Penn Virginia had their risk and controls matrix setup and mapped in Comensure. Supported by the intuitive and modern design of Comensure, Penn Virginia got results in record time. With their SOX compliance activities and evidence in one place and instant visibility to status or concerns, Penn Virginia now has full transparency around compliance.
Progressing on its mission to challenge the status quo of the GRC industry, Comensure is rolling with development efforts to further modernize the user experience. “We think our partner programs will help us significantly accelerate growth in 2019 and beyond,” concludes Dave McGee, director of sales.