Looking back at the usage numbers from 2018, ComplianceDesktop® | Compliance Technology Platform is holding strong as one of The Red Flag Group®’s key technology products for helping our clients make Better Decisions™ on their third parties and employees.
Over 170,000 people actively used the platform last year – ten percent more than the previous year. Our clients screened over 3.5 million entities and sent out over 120,000 questionnaires to their partners. They also made over 20,000 declarations for approval in our gifts and entertainment register – helping to manage over $95 million in value. Overall, more than three million decisions were made and recorded using the ComplianceDesktop® platform in 2018. It appears as if managing compliance and integrity risks is not slowing down, and neither are we.
We continued to expand the capabilities of ComplianceDesktop® | Compliance Technology Platform to give our clients the solutions needed to manage today’s integrity and compliance risks in an intuitive and easy-to-use manner. Some key functionality was released, including:
• the ability to do due diligence case approvals on behalf of others
• displaying the 30 risk area filter and refined search mode powered by Rosette in our IntegraWatch® | Compliance Screening application
• assigning remediation tasks to non-ComplianceDesktop® users
• adding the ability to order and conduct due diligence cases using our ComplianceDesktop® mobile app (to companion our Gifts, Travel and Entertainment app).
In our most recent releases, we focused on improving our Screening and Questionnaire modules to give our clients valuable ways to manage their programmes and share key information. The biggest improvement was introducing the new refined search mode, powered by Rosette. With Rosette we have brought in a multilingual text analytics solution that uses the new technology of artificial intelligence to analyse the components within a search. The distinct advantage that this brings to our clients is the ability to have comprehensive name matching despite spelling variations, nicknames, names out of order or names written in a different language. It also includes name transliteration, which translates names from nonLatin-script language into English. We added the ability to export the results of a screening case (including keyword screened, date and status of screening, notation of relevant results etc.) as a PDF for internal sharing or documentation. And in our Questionnaire module we added the ability to extract all response options available for radio button and checkbox questions as a PDF, so users can see which other responses were available for the responder to select.
Another major focus was supporting the migration of all clients onto our 3.x platform. This took an enormous amount of time and effort due to how deeply ComplianceDesktop® was embedded into each client’s process. We are very pleased to say that we only have a handful of clients left to move, and this is due to their complex data integrations. Having all clients on a single platform obviously allows us to provide far better focus and support.
Focus for 2019/20
This year we will focus on introducing more new improvements and implementing a new quality-assurance process, new technology and a new release cadence to guarantee we provide the best and most comprehensive platform in the market. Our goal is to improve every module within ComplianceDesktop® to make sure that we have the right features and functionality to address any onboarding or operational compliance needs. We are also working heavily on reporting and connectivity to give clients the ability to access their data in a way that tells a complete story, including which trends are appearing to reveal areas of concerns. We will continue to expand functionality on our mobile app, as we view that as the place employees can easily and quickly complete the day-to-day business tasks assigned to them.
Internally, we are re-evaluating our procedures to strive to ensure each new release is available on schedule, is of the highest quality, and makes our clients’ jobs easier. A primary goal for 2019/20 is to return to a consistent release cadence (e.g. weekly, monthly or quarterly), so our clients know when a patch or an enhancement is being released.
Lastly, we are reimplementing The Red Flag Group® Client Advisory Council that was announced last year as we believe it is valuable to bring the voice of our customer into the platform design. We are engaging interested clients who want to help validate early design concepts for new enhancements to confirm the changes are efficient, intuitive and easy to use as a driver for making Better Decisions™.
This is an extract from The Red Flag Group Annual Report 2018/19. To read the full report please click here.