Whilst some ERP systems do have risk and compliance functionality, the nature of risk and compliance management often means ERP software is unable to cater for the needs of company risk and compliance management.
WHAT IS ENTERPRISE RESOURCE PLANNING?
Enterprise resource planning (ERP) refers to a type of software that organizations use to manage day-to-day business activities such as accounting, procurement, project management and supply chain operations. A complete ERP suite also includes enterprise performance management, software that helps plan, budget, predict, and report on an organization’s financial results.
ERP systems eliminate duplication of data and keep detailed audit trails of all data processed through the system. Today, ERP systems are critical for managing thousands of businesses of all sizes and in all industries.
WHAT IS RISK AND COMPLIANCE MANAGEMENT?
Risk and compliance software is a solution for managing governance and compliance risk in a company. It involves identifying the key policies that can drive the company toward its goals and then helps you achieve those goals. By adopting a risk and compliance solution, you can take a proactive approach to mitigating risks, making well-informed decisions, and ensuring business continuity.
A good risk and compliance solutions covers multiple areas, which include:
- Giving the group risk committee a framework that allows them to identify, address and keep track of all risk associated with the business;
- Making sure your employees are compliant and fully trained;
- Making sure your contractors and their employees are compliant, qualified and fully trained;
- Ensuring incidents are all properly reported and reacted to, including health & safety, environmental, quality, customer complaints, supplier and internal non-conformance;
- Ensuring assets are properly maintained, as required by the supplier and on time;
- Completing all audits and assessments and closing out the actions that result;
- Issuing all work permits on time and making sure they are suitable for the work to be completed;
- Controlling who is accessing your premises and ensuring they are kept safe when doing so.
A good GRC solution will help you take care of your employees and stakeholders, save your company money and improve your customer performance. It is as important to have as your ERP system.
WHY DO I NEED 2 DIFFERENT SOLUTIONS?
ERP systems come in many shapes and forms, and cater to many needs. There are the Rolls Royce of systems, that will include many of the solutions required for risk and compliance management. Unfortunately, these systems often come with the price of a Rolls Royce and require a highly sophisticated team that can set-up and maintain the complex set of matrices that are required. Other ERP systems will cover some aspects of risk and compliance management, but rarely cover all areas. To date I have not come across any ERP systems that can fully cater for company risk and compliance management.
This is because the fundamental requirements of an ERP differ from risk and compliance needs, and as such the software solutions function differently. Risk and compliance systems require multiple people to have access to the same data, each of whom will contribute different input at different times. Often people external to the company must contribute (like your contractors, visitors and suppliers), and the system needs to cater for this. The system also needs to notify a wide range of people, each at different times of the information life cycle and allow the users to individually keep pace of progress, which differ depending on who they are.
Take reporting a health and safety incident for example. This requires an entire incident management lifecycle, which includes:
- Reporting an incident where it happens (which may be on your factory floor, so mobile access to the system is required);
- Conducting an investigation of what happened (which will require input from all the people involved);
- Agreeing and assigning the relevant corrective actions;
- Getting the necessary response procedures;
- Reporting results to the many parties involved, each of whom will require different information.
This often needs to cater for multi-level, multi-site environments. ERP systems usually function with minimum internal users performing specific tasks.
DOES HAVING 2 DIFFERENT SOFTWARE SYSTEMS DISADVANTAGE MY COMPANY?
Fortunately, in this day and age, integrating data between systems is a simple task that can be done quickly and cost effectively. As long as data can be integrated, you will not be disadvantaged by using multiple systems.
It is often far more cost effective to use 2 different systems that are designed specifically for their function. They do the job well and are easy to use, so specialized staff are not required to operate them. As they cater for a wide range of users, the combined cost of the systems is often far cheaper that the cost of a one-stop solution, which will be complex due to the different operating requirements.
More importantly, like with Rapid Global’s risk and compliance software, supported by OVS Solutions, they are constantly upgrading and improving their risk and compliance solutions, as this is all they do. They respond to the needs of their over 5 million users to make sure their solutions are up to date.
HOW CAN OVS SOLUTIONS AND RAPID GLOBAL HELP MY RISK AND COMPLIANCE MANAGEMENT NEEDS?
Fully integrated and modular Risk and Compliance solutions like those supported by OVS Solutions and created by Rapid empower you to streamline your workforce risk, safety and compliance management processes. Rapid caters for every risk aspect of your company, and their products include Rapid Induct, Rapid Contractor Management, Rapid Access, Rapid Incident, Rapid Audit & Service, Rapid Risk and Rapid Permit to Work.
Each module can be implemented independently of the other or all together. The products are cost-effective, quick to implement and easy to use.
CONCLUSION
With the multiple challenges any business faces today, cost-effective tools that allow proactive work methods are essential. Using software as a service tool can make what was an enormous administrative burden far easier, allowing your staff to concentrate their skill and energy in other areas of your business.
Companies like OVS Solutions (Pty) Ltd, the Africa Licensee of the award-winning Rapid Global Software, have been delivering Health & Safety software solutions for over 20 years. Their only business is the continued development and improvement of their software, to make sure that the solutions keep pace with the ever-changing landscape. All their solutions come with mobile apps.
OVS Solutions, the Africa Licensee of Rapid Global, also have a great support team who are available to assist with live or online demonstrations, user guides, and relevant information you may require. They can help you with the expected ROI calculations and can share their tips on how to best maximize user adoption and can help you deliver on your plan!