Manufacturing and production companies are often faced with many restrictions or requirements from regulators or customers. Those restrictions may be in regard to quality, safety or shelf live. Non compliance with these regulations is often not an option, due to consequences such as being excluded from bids by retailers, or penalties from government regulators. Due to the increase in the number of these regulations and the diversity of topics, the management and mitigation of all these regulations has become complex and time consuming. Managing all the associated operational risks makes the situation even more complicated. A Governance, Risk and Compliance (GRC) software solution to assist in the management of governance, risk and compliance initiatives at a manufacturing firm can be extremely beneficial.
Trusted by several hundred customers worldwide, BWise delivers Governance, Risk and Compliance (GRC) management solutions for manufacturing, process and production companies, such as DSM in Europe, and International Truck, Kulicke & Soffa and Leapfrog in the U.S. BWise enables these enterprises to remain “in control” of their complex operational and financial processes, and their corresponding controls and risks. The foundation to the BWise platform is process management. It is the profound reason why customers use BWise to integrate both their risk management and financial governance into one system. BWise is not only used to monitor risks and compliance, but it also provides the benefit of time and cost savings, that are realized with the BWise integrated process based approach to GRC.
The BWise GRC platform is composed of Governance, Compliance, Risk Management, Business Process Management and Internal Audit components. BWise Process Management enables a corporation to fully model and build a framework of their business processes, controls and risks. In addition, corporations are enabled to identity, monitor and assess processes, risks and controls. Based on this, areas of possible improvements will become clearly visible and all required reports may be compiled and composed.
The BWise solution enables an Internal Auditor, Manager or Executive to get “in control” of the enterprise; that is, get a better understanding of the enterprise, eliminate duplicate controls and find where areas of improvement exist across the entire organization. This is especially useful for a manufacturing firm, that may have many process models for line of business processes, financial processes or even production line processes. These improvements and the elimination of duplicate controls or risks has lead to profound ROI for many BWise manufacturing and production clients. BWise not only helps a company get “in control”, but is also a true driver of efficiency and ROI in the manufacturing and process sector.