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Greenlight Technologies: Automating Compliance across Enterprises
During his research on the compliance process with various companies and stakeholders, Anand Adya, CEO of Greenlight Technologies realized that the majority of compliance and control activities was largely manual and based on limited sample testing. He identified automation as the missing element, which could help make the processes swift and accurate. “I set out with a vision to create a technology platform that could allow companies to detect and prevent compliance violations by monitoring 100 percent of business transactions across all business applications in real time,” begins Adya. To make this vision a reality, Adya founded Greenlight Technologies as an innovator providing integrated risk management solutions.
The company enables organizations to recognize the risks in real time and automate compliance across various business applications and IT systems. The platform provides a foundation for scalable and sustainable solutions for SOX, finance, and regulatory compliance mandates across industries. These solutions are able to integrate with any system across the enterprise, automate critical but time-consuming compliance processes, and provide the finance team with actionable information to boost the bottom line.
Greenlight Technologies’ unique analytics platform helps its clients integrate all of their solutions; allowing them to monitor the business flow across their applications. The firm also assists its clientele in C-level decision-making and financial improvement of end-to-end business processes with its Financial Impact of Risk (FIR), Regulation Management, Financial Performance and Risk Analytics, and Security Risk Analytics solutions.
Our solutions are able to integrate with any system across the enterprise, automate critical but time-consuming compliance processes
Every organization witnesses certain risks that are unavoidable and need to be mitigated efficiently and cost-effectively. Greenlight Technologies facilitates this with FIR which identifies every instance involving any violations. FIR automates the identification and review of any access violations across all users and business processes, irrespective of the underlying technology. FIR witnesses extensive usage among businesses owing to its numerous capabilities. A case in point is that of a client that holds the experience of using FIR for three years. The client prior to switching to FIR had multiple manual control processes in place and used to take about 45 days to review a month’s worth of data manually. However, after using the solution, the company reported massive savings while managing data and reporting and also witnessed reduction in external auditor fees.
While FIR simplifies management of access violations across all users and business processes, Regulation Management allows clients to confidently assess and respond to regulatory changes and expand control automation across their organizations. The Financial Performance and Risk Analytics solution, on the other hand, enables the organizations to focus on making a financial impact and achieve competitiveness, profitability, and efficiency. The Greenlight Technologies team also helps to effectively manage threats, providing an integrated view of the business manifestation of risks due to failures or violations in security, compliance, and incident management.
As a SAP partner, Greenlight Technologies extends SAP solutions for Financial Impact of Risk, Regulatory Compliance, Continuous Monitoring, Insider Threat, and Cyber Governance. With these capabilities and a unique analytics platform, the company has been delivering great business impact to its customers. “We have an above industry average of 97 percent retention of customers due to very high standards of responsiveness to customers’ requirements both during the implementation and post-deployment,” adds Adya. Today, the company is making great strides in risk, financial performance, and regulatory compliance space at a rapid pace and aims to continue doing so in the future.