New solution helps organizations stay compliant and avoid hefty fines
PORTLAND, Ore.—May 14, 2024 – NAVEX, the global leader in integrated risk and compliance management software, today announced the launch of its Regulatory Compliance Management (RCM) solution. It helps organizations easily navigate and adhere to international whistleblowing compliance rules and regulations in all geographies where they operate – thus avoiding hefty fines and potential impact to business reputation. Whistleblowing is the first of many regulations to be covered, RCM will expand its offering to include other international directives and legislations.
With the emergence of large-scale whistleblower regulations such as the EU Whistleblower Protection Directive and the Whistleblower Protection Act, multinational organizations face an even tougher challenge staying compliant and up to date with guidelines. NAVEX RCM will be invaluable to companies wishing to assess and analyze restrictions, requirements, and/or guidelines related to whistleblowing regulations across global jurisdictions. This includes intake methods, notice and consent requirements, reportable issue types, availability of anonymity, and other unique intake, data privacy, and incident management considerations.
Prior to NAVEX Regulatory Compliance Management, organizations either assigned employees or paid lawyers a significant sum to track requirements painstakingly and manually. This resulted in hours spent understanding the information gathered on an ad hoc basis, whilst simultaneously balancing and updating internal policies. With NAVEX’s RCM solution, highly skilled subject matter experts will personally assess updates and provide tailored guidance on how to address regulatory changes. They will also offer continued insights and recommendations via an automated platform to empower customers to make informed and strategic decisions. Organizations with global operations gain access to the knowledge and expertise necessary to meet or exceed complex international compliance requirements, thereby reducing risk while reinforcing oversight responsibility.
Unlike manual efforts, NAVEX RCM delivers information through an up-to-date web-based portal, rather than spreadsheets, PDFs, and Word documents. This platform enables customizable alerts and automatic notifications when information is updated.
“By subscribing to Regulatory Compliance Management, changes are detailed directly in our software as countries update their legislation – all accessible from a centralized dashboard,” said NAVEX Chief Product Officer, A.G. Lambert. “NAVEX continually reviews regulations at the country level to help organizations remain compliant. When regulations are updated, the system will notify subscribed customers of the changes. Decisionmakers will then be able to assess these and update their existing incident management programs as required.”
To learn more about NAVEX Regulatory Compliance Management, please read our blog or visit the product page here.
About NAVEX
NAVEX is trusted by thousands of customers worldwide to help them achieve the business outcomes that matter most. As the global leader in integrated risk and compliance management software and services, we deliver our solutions through the NAVEX One platform, the industry’s most comprehensive governance, risk and compliance (GRC) information system. For more information, visit NAVEX.com and our blog. Follow us on Twitter and LinkedIn.