Read our most recent success stories
We present you the stories of our clients and how we drive the automation and improvement of their compliance and risk departments together by the hand of AustranetGRC, our Governance, Risk and Compliance software and our Alertas Normativas service.
Puerto Austral
Port-related
SEP company responsible of perform import and export activities for wholesale, in the Strait of Magellan.
Success Case Nº1: Puerto Austral compliance automation
SEP Company
Before implementing AustranetGRC software, Puerto Austral faced significant challenges in compliance management.
All the information and related process were carried out manually in Excell spreadsheets, which was inefficient, error prone and difficult the information centralization, This was even more difficult tasks due the complex regulations imposed through CAI and SEP Code.
Proposed solution
To address these problems, it was proposed AustranetGRC software implementation, an integral solution for compliance management. A detailed presentation was made for Puerto Austral, in which we explained the features and benefits of the system. Once the client agreed, we proceed to hold continuous meetings to implement the service.
Adaptation to CAI and SEP guidelines
Since AustranetGRC is based on COSO model, the system was adapted to the specific CAI and SEP guidelines.
It works together with Puerto Austral Team for adapt the value and risk part, according to the requirements established for these entities. In this loaded the seventeen chapters of SEP code were loaded.
Obtained results
AustranetGRC implementation allows Puerto Austral to achieve a complete automation of their compliance, replacing manual processes based on excel spreadsheets. Some of the key benefits include:
- An alignment of commitments has been established and the activities which affects Puerto Austral according to the seventeen chapters of the SEP code. Furthermore, an automized action plan was created which is generate based on the risk evaluations, allowing to Puerto Austral have a proactive and efficient strategy to address possible regulation non-compliance.
- Enhanced efficiency: significant time and resources saving to automate routine task and compliance process.
- Information centralization: All information related to compliance is now in one place, which facilitates access and data management.
- More effective compliance: The AustranetGRC implementation to CAI and SEP alignments guarantees an accurate compliance aligned with all established standards.
- Enhanced risk management: The automated risk assessment and generation of risk-based action plan allows Puerto Austral take informed and proactive decisions to mitigate possible non-compliance.
Banco Fallabela
Banking
Banco Falabella is a leading financial institution in Chile, part of the Falabella Group, a major retail conglomerate.
Success Case Nº1: Implementation of Regulatory Alerts in Banco Falabella
Banking company
Banco Falabella needed remain constantly informed about all the standards and regulations issued by affected regulatory entities, from banking institutions to the National Consumer Service (SERNAC). They were interested to keep up of all the daily moves of the emerging regulations, including newsletters, circulars, opinions, exempt resolutions, legislative changes in the Senate and in the Chamber of Deputies. The information shall from firsthand and daily delivered.
Our company, specialized in regulatory alert services, provides Banco Falabella a customized and automated solution to meet its specific needs.
We implemented a detailed daily report which collected and synthesized all the relevant updates issued by the regulatory entities that were of interest for the bank.
.
Impact
Non-compliance risk reduction: Being completely fully informed about the regulatory changes, Banco Falabella significantly reduced the non-compliance risk of any regulation or violate a law, which allow them operate safe and reliable.
Productivity growth in compliance area: Thanks to the precise and up to date information that we provides, Banco Falabella compliance team can optimize its internal processes and focus in the areas with high risk, which improved productivity.
Greater compliance knowledge: Constant access to important information and up-to- date information allows Banco Falabella compliance team to expand their knowledge and understanding of the regulatory environment, making them experts in compliance.
Customized approach:
We understand that each client is unique and their needs may change over time. During the first month implementation, we keept weekly meetings with Banco Falabella team in order to collect feedback and know their specific requirements. This allowed us to refine and customize even more our solution to fully satisfy their needs.
Over the course of time, we still maintain close communication with our clients. After the first month, we meet every fifteen days to ensure that the service its properly adapted to their changing necessities.
Subsequently, we established meets every three or six months, unless there were problems or significant changes that required more frequent contact.
In general aspects, our regulatory alerts solution provides Banco Falabella the tranquility of being always informed and in compliance with regulations, which allows focus in their main mission, provides financial quality services to clients, reinforcing their position in the market, increasing stakeholders trust.