Case study at-a-glance
- Background: Large independent oil and gas company headquartered in Australia
- GRC Challenge: The customer was seeking a unified solution to manage their risk and regulatory compliance requirements, as their current solutions did not adequately provide the functionality and usability required for the business and the regulatory landscape was becoming increasingly complex.
- Solution: An integrated, enterprise GRC platform to easily manage and incorporate a number of different use cases: regulatory compliance, operational risk management, internal audit, internal control as well as incident management.
- Benefits: The customer is now able to generate one-click reports and dashboards to easily manage its risk and compliance obligations.
Clarify risk and regulatory requirements
The organization was using a number of different solutions to manage their risk and regulatory compliance requirements and the regulatory landscape was becoming increasingly complex. New and emerging requirements across diverse regulatory regimes and saying “we comply” was no longer credible for stakeholders as they were demanding backup and transparency.
Together with the organization’s global upstream growth aspirations in correlation with potential compliance burden, this was the best time to reach out for sustainable solutions.
Efficiently managing risk and regulatory obligations
The customer began their journey with its regulatory compliance improvement initiative to improve standards, process and systems to mitigate the risk to loss of their license to operate. As a result, they were looking for a solution to help managing their regulatory obligations and support the new operating standard published in 2014. In addition, the organization was looking for fully integrated GRC solutions including regulatory compliance, operational risk management, internal audit, internal control, and incident management.
Turning regulatory obligations into a competitive advantage
By replacing its different risk and compliance solutions, this SAI360 customer moved towards a fully integrated solution with a step-by-step project implementation approach.
The solutions assist them in linking information across its entire organization, resulting in aggregated reports and dashboards to easily manage continuously evolving risk and regulatory obligations. The organization turned its regulatory obligations into a competitive advantage and created stakeholder trust.
Breadth of GRC solutions and integration functionalities
SAI360 was selected for the breadth of its solution and its overall integration after a thorough analysis of GRC vendors. The knowledge and expertise of the SAI360 team gave the organization the trust and confidence it needed in selecting SAI360 as its GRC solutions partner.
Strong integration functionality allows SAI360 to implement truly integrated solutions. A key strength that this organization relied on is SAI360's ability to configure a GRC solution that was easy to manage and that provided the organization with a true enterprise platform that incorporates a number of different use cases, step-by-step.