BWise Press Release
Aon converges its Governance, Risk
and IT Compliance Initiatives with BWise
New York, NY and Hertogenbosch, Netherlands, June 8, 2010 – BWise, the global leader in governance, risk and compliance (GRC) management software, announced today that Aon Corporation (NYSE:AON), has chosen BWise as its global Governance, Risk Management and Compliance (GRC) Platform. Aon, headquartered in Chicago, is the leading global provider of risk management services, insurance and reinsurance brokerage, and human capital consulting. A wide array of premium insurance products and services are offered by Aon, including products such as property, business continuity, automobile, workers' compensation, and general and professional liability.
Integrate SOX compliance and IT policies and procedures
Aon was seeking a versatile GRC solution that could assist in managing several enterprise initiatives at once. Aon will start with integrating its Sarbanes-Oxley (SOX) compliance and global Information Security policies and procedures. Both the SOX management and IT Risk Management departments at Aon were involved in the search for and scoping of a GRC platform that could meet the firm’s requirements. The two departments worked cooperatively to find a solution that would meet both their goals and also contribute to developing continued efficiencies throughout Aon. Alfred Jongejan, Director of Corporate Finance at Aon said, "Distinct departments came together here at Aon and understood the value of working together in choosing a GRC Management solution that could benefit the company's multiple governance, risk and compliance efforts. With the BWise GRC platform, Aon has selected a unique and comprehensive tool to efficiently and economically support, converge and streamline several of these corporate programs and initiatives."
Reduce, mitigate and rationalize the number of controls
Aon uses a risk-based approach to managing its control framework. This framework varies by business line and financial accounts, leading to eventual financial statement materiality scoping for the firm. This was an important consideration while looking for a technology solution. Aon’s management, throughout the organization, will use BWise to perform control testing and to review and assess those same control tests.
Ultimately, Aon chose BWise due to its ability to manage several initiatives in one platform. Luc Brandts, CTO and Founder of BWise, said “We are very proud to welcome AON as a new global customer. It is great to see the various AON teams working together on selecting and implementing a global and integrated Governance, Risk Management and Compliance program.”