Leveraging a centralised platform to support a maturing programme
This commercial real estate client was looking for global solutions that could assist them in managing third party due diligence (screening and monitoring). They were doing a good amount of manual work, including scoring in spreadsheets.
As a maturing programme, they were looking for a centralised platform with search capabilities and dynamic questionnaires. They also had compliance teams in Europe and the United States so they needed to standardise their programme across the globe and see approvals at a glance.
The Red Flag Group® streamlined their programme globally with the ComplianceDesktop® | Compliance Technology Platform and was able to centralise everything online. The client received a thorough implementation including a Client Services 'Playbook' that included an implementation checklist, version control, meeting logs and a timeline all in one place.
The Red Flag Group® team also offered advisory resources to help the client optimise their programme and the Client Services team was able to combine their multiple questionnaires into one. The client now has visibility into approval status, which has reduced the number of duplicate requests from other teams for a single entity.
ComplianceDesktop® | Compliance Technology Platform, including:
- new workflow design
- enhanced, consolidated questionnaires and risk-based scoring
- administrative and end-user training
- an on-site workshop
- IntegraWatch® | Compliance Screening
Implementation: four months, as requested by the client.