(April 30, 2019) – Government bodies in Australia will be among the first organisations in the world to benefit from a pioneering new multi-regulatory compliance system.
Evidology is a software solution that uses the basis of claims, argument and evidence and incorporates data management to ensure organisations do everything possible to comply with a growing range of regulations.
The system simplifies and standardises the approach to compliance with multiple regulations for public and private sector organisations in any geographical location.
Evidology has also partnered with the BusinessOptix cloud-based platform which provides enhanced support to help meet multiple regulations in international markets.
A subsidiary of Evidology has been set up in Australia with the aim of initially establishing the solution in the government sector, before rolling it out into other markets where regulations, some unique to the country, apply.
Leading the move is businessman Peter Bell, who has more than 30 years of experience in delivering risk advisory and internal audit services to a range of public and private sector clients, including 17 years serving Australian government clients in Canberra.
Mr. Bell is a seed investor and non-executive director of Evidology in the U.K. Until August 2018, he was Managing Director of Protiviti, a global risk consulting firm, and previously was a partner in Ernst and Young for 12 years.
Prior to joining the profession, he was a senior executive service officer in the Australian Government and was the special advisor to the Australian Government Joint Standing Committee review of fraud in the Commonwealth.
He said, “My association with Evidology began as a result of previous business dealings with (Evidology Managing Director) Terry Barnden, and we had discussed for some time the potential for compliance software in highly regulated sectors.
“My role with Evidology in the U.K. is mostly passive, as a seed investor and non-executive director. For Evidology Australia, I have a much more active role and have a plan to establish Evidology in the government sector and to then expand into the private sector.
“Evidology offers greater transparency, flexibility and is more principles-based than other compliance products. These attributes make it much more effective in dynamic and high-risk industries. It also has a sharper lens to allow CEOs to get greater comfort that their risk exposure is being managed.
“There are some real opportunities for Evidology in Australia. I am proposing to start where I have most experience, in the government sector, but see great opportunities to push into highly regulated sectors such as finance, mining, transport and energy.”
Evidology ensures that companies have evidence to support the requirements of legislation such as the General Data Protection Regulation (GDPR) that came into force last year in the U.K., and the Protective Security Policy Framework (PSPF) in Australia.
Terry Barnden, Evidology Managing Director, said “Evidology was initially set up with GDPR in mind; however, it became apparent very rapidly that it could apply to every type of regulation and policy.”
“Many firms now need to comply with multiple regulations, which can be cumbersome and involve a number of different staff – some larger companies can employ thousands of people simply to ensure compliance with regulations in different countries or regions. The cost of doing that is massive.”
“The solution we provide has built-in safety case technology, which makes it simple to use and it is far less expensive than noncompliance.”
“We are currently talking with organisations that range from SMEs to multinational corporations in different parts of the world, but with Peter’s knowledge and experience of working in Australia, it could be among the first countries to benefit from this must-have technology.”
Evidology is operating in the U.K., U.S. and Australia and is expanding into India. The company’s software (the company and product are both called Evidology) provides reassurance and compliance protection. By ensuring that data is in the right place, its customers can guard against breaches and the potential for fines under various legislation.
The Evidology platform is applicable for businesses and organisations of various sizes and the formal partnership with BusinessOptix will now make it more readily available.
BusinessOptix has offices in the U.K. and U.S. Founded in 2010, the company has grown to thousands of users across multiple industries.
BusinessOptix is being used to redefine business models, reshape business practices, eliminate superfluous operations and costs, understand and capture best practices, speed up decision-making, deliver greater integration and smoother operations across functions, streamline go-to-market processes and activities and improve return on capital employed.
Across governance, risk and compliance, operating models, change and transformation, enterprise software delivery, project management and HR, BusinessOptix is successfully delivering value to businesses.
BusinessOptix customers operate in a number of horizontal and vertical industries, including financial services, retail, media, telecoms, pharmaceutical, government, consultancies, legal services and business process outsourcing.