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Perks of Effective Hotline Reporting Software

Posted by: Sarah Hamilton | June 29, 2017

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According to Harvard Law School, approximately two-thirds of companies in the U.S. are affected by fraud, losing an estimated 1.2% of revenue each year to such activity.  Indirect costs associated with fraud, such as reputational damage and costs associated with investigation and remediation of the fraudulent acts, is also substantial. It is now essential for companies to implement an effective whistleblower hotline.

Perks of Effective Hotline Reporting Software

Hotlines are a critical means for detecting any kind of misconduct within an organization and have led to high-profile investigations. They also serve as a way to gauge the effectiveness of an organization’s ethics and compliance initiatives, and can identify any program shortcomings. Effective Hotline Reporting Software helps organizations achieve the following:

  • Streamlined framework and assessment in identifying, analyzing, prioritizing and reporting key risks and potential violations.
  • Prompt and valuable insight into potential risks and danger of violations of policies, procedures, and controls resulting in noncompliance and that can impact a company’s profits and reputation.
  • Ease in collection of incident data assesses risk and follow-up recommended actions.
  • Access to integrated reporting and communication tools that elevates accountability and achieves a risk-based culture within the organization.

Predict360’s Anonymous Hotline Reporting / Whistle Blower Software provides prompt and valuable insight into potential risks and danger of violations of policies, procedures, and controls resulting in noncompliance and that can impact a company’s profits and reputation. It provides access to integrated reporting and communication tools to elevate accountability and allows companies to achieve a risk-based culture within the organization.

About the company

360factors, Inc. (Austin, TX) helps companies improve business performance by reducing risk and ensuring compliance. Predict360, its flagship software product, vertically integrates regulations and requirements, policies and procedures management, risks and controls, audit management and inspections, and on-line training and qualifications, in a single cloud-based platform based on artificial intelligence.

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