Improving user adoption and increasing global standardisation around third party risk management

Challenge:

This pharmaceutical client first started working with The Red Flag Group® out of a basic need for due diligence reports. Though they worked with a few suppliers, The Red Flag Group® quickly became the preferred supplier with more frequent, detailed IntegraCheck® | Integrity Due Diligence report requests.

A few years into the engagement, the client decided to improve their current compliance programme by purchasing a subscription to ComplianceDesktop® | Compliance Technology Platform. They had a manual questionnaire process and needed a system to automate some of the workflow.

After some time with ComplianceDesktop®, they decided to engage The Red Flag Group® for help to optimise their use so they could realise its full benefit. More than 100 users, including the client’s regional compliance leads, were losing efficiency by still managing some work offline, and the client had plans to expand the scope from the Americas into the Asia-Pacific region.

Answer:

The Red Flag Group® worked closely with this client to help them improve their ComplianceDesktop® usage and increase adoption. Since the client also had plans to add more users and expand geographic focus, we helped them increase global standardisation around third party risk management. ComplianceDesktop® allowed them to break down silos between their Legal, Compliance and Procurement teams. The number of due diligence reports has doubled over time, user adoption has increased more than 80% and plans to roll out in additional regions are underway.

Why The Red Flag Group®:

Quality of due diligence reports. We pride ourselves on a higher standard. Our team, the quality of their training and client commitment set us apart in terms of depth of research, analysis and reporting. We were constantly driving them to do more so we could increase the value we gave back to the client.

Ability to streamline. We were able to help the client increase the overall effectiveness of their users through smart processes and controls.

Centralised place to store and record. All of the client’s compliance data was now available from one location for a holistic, integrated view.

Guidance and recommendations. This client had a burgeoning compliance function, so we provided thoughtful guidance and recommendations for a strong third party programme.

Deliverables:

IntegraCheck® | Integrity Due Diligence reports

ComplianceDesktop® | Compliance Technology Platform

 

To find out more about our products and services and how we can help your company, please visit www.redflaggroup.com. If you have any enquiries, please contact info@redflaggroup.com.

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