Avoid Corruption through Comprehensive Gifts, Travel and Entertainment Technology
PHOENIX, Oct. 22, 2015 /PRNewswire/ -- Global integrity and compliance firm The Red Flag Group today releases new features and enhancements for its ComplianceDesktop® | Anti-Corruption Compliance Platform.
ComplianceDesktop® | Anti-Corruption Compliance Platform is a technology platform that helps users effectively manage their anti-corruption compliance programmes -- including identifying risks, undertaking screening, conducting due diligence, tracking payments to governments, and conducting continuous monitoring.
The highly publicised FIFA corruption scandal, where more than US$150 million was collected in alleged kickbacks by officials, demonstrates the need for companies to have a clear Gifts, Travel and Entertainment (GTE) policy in place so that employees know what is, and what is not, appropriate to provide for officials. Having a system for reporting GTE and a culture that encourages the use of it will help mitigate violations. If FIFA had had this type of continuous monitoring, it could have flagged up suspicious transactions as and when they happened -- avoiding serious legal and reputational repercussions on such a large and public scale.
The Red Flag Group is committed to providing best-in-class products that support their clients' compliance management requirements and they continuously enhance the products according to market needs. Therefore, the newest version of ComplianceDesktop® | Anti-Corruption Compliance Platform has the following key features to improve clients' compliance processes:
- Manage GTE® declarations on mobile devices instantly
Gifts, travel and entertainment declarations can now be submitted via a mobile device, with apps for Apple iOS and Android devices and a mobile platform. This keeps your compliance approval process moving even while you are away, and saves time by speeding up decisions.
- Enhanced due diligence renewal process
You can select to renew your due diligence request either automatically or manually based on predefined rules. This ensures continuous monitoring of your third parties based on your risk appetite and latest integrity risk developments.
- Delegation of gifts, travel and entertainment approval tasks when you are out of the office
Now you can assign someone to manage the approval process for gifts, travel and entertainment while you are out of the office.
- Easy integration with other enterprise systems
The new release contains two APIs (a user API and a third-party API) to enable your IT department to create your own specific integrations to connect with ComplianceDesktop®. Data between third parties and employees can be easily synchronised to improve data quality and save time.
'We have put together these new features to enhance the product and we have listened to client feedback to find out exactly what our clients want. We want to ensure that ComplianceDesktop® is the best technology in the market to support our clients to manage their compliance programmes. Now, with the new features and mobility of the application, clients can ensure their programmes are efficient and accommodating to those who are always on the road. There will be no excuses for not filing tasks according to the compliance requirements of the company,' said David Youngson, CEO of The Red Flag Group.
Executive Chairman Scott Lane said, 'The Red Flag Group commits to providing the best solution for our clients to support their compliance requirements. Therefore, we will continuously enhance our existing products with new features to improve the efficiency of our clients' compliance programmes. We are excited that the declaration feature is now available as a mobile application. There will be more features and functions available via mobile devices in the near future.'
SOURCE The Red Flag Group