September 25th, 2017
There is no turning back the data tsunami. From wearable technology measuring your walking miles to sophisticated algorithms that drive our cars, it seems that no human activity is left untouched by the data revolution. Yet despite the velocity and volume of data generation, effectively digesting data in a way that creates value for your organization can be a daunting task.
The Anti-Bribery Anti-Corruption (ABAC) profession is not immune to this problem. In the 40 years since the adoption of the Foreign Corrupt Practices Act in the United States followed by similar legislation abroad, ABAC compliance has become increasingly complex, global, and data-driven. This new environment presents exciting opportunities for “smart” due diligence where the work of the ABAC compliance professional is supported by robust integrated data processes, visualizations and analytics that effectively identify red flags, see hard-to-detect patterns, drive efficiency in procurement and the supply chain and provide effective and ongoing due diligence for third parties.
While this new data paradigm brings new opportunities, the challenge that now exists is how can compliance professionals distill this deluge of data to analyze the trends and draw meaningful conclusions that can be used effectively? We will explore the importance of creating an accessible and reliable database architecture across departments and how data and human intelligence can be used effectively to enhance third party compliance. Download "Expanding the Sights of Your ABAC Program Through Data Intelligence?" to learn more.