In this episode, I visit with Keith Read, Advisor to Convercent and Angus Robertson, Senior Vice President for Convercent on some of the key trends they observed in the marketplace in 2017, from the vendor perspective. I found this an interesting perspective as both of these gents spend quite a bit of time listening to compliance practitioner on what their needs are for their organizations. Some of the key trends they observed included:
A hugely increased focus on data privacy, partly driven by GDPR and partly driven by the increasing size and global reach of our customer base.
Whistle-blowing & Social Media
A genuine recognition of the importance of effective whistle-blowing programs, given that social media now means that people are far more prepared to speak out if they are not happy to speak up. This also brings with it the need for active retaliation prevention, not just a passive ‘shelf’ policy.
Global legislation around ABC
Increasing global compliance-related legislation – new and updated laws such as Sapin II, the UK’s Criminal Finances Act, the Brazilian Clean Companies Act, all utilize similar approaches to the enforcement of anticorruption legislation. This makes developing and implementing a common response strategy can be far more effective, and less costly; moreover, drawing disparate sources of data together – often for the first time – can be eye-opening.
Big Data and Analytics
Companies are focused more than ever on data, reporting and benchmarking. How do I as an ethics and compliance leader get the data I need to understand the health of my organization and the effectiveness of my program? How do I show how well I’m performing and the business value?
Delineation of Compliance vs. Ethics
Consumers and employees focused more on ethics causes organizations to shift. This is especially true in B2C and industries led by technology or the shared economy.
Employee engagement and nudge programs
Providing the just-in-time information that is context aware relative to business process and communication, so that employees can make the right decision at the right time to support their company values.
What were some of the key compliance market trends from 2017? Check out this episode of the FCPA Compliance Report.Click to tweet
The FCPA Compliance Report is proud to have Convercent sponsor this episode. Convercent works to drive ethics to the center of business through Enterprise Ethics & Compliance Software that invites users to share, listen and learn to help build a more ethical corporate culture. For more information go to Convercent.com.