Increase operational excellence, sustainability and margins through a unique Governance, Risk and Compliance Management Solution.

Governance Risk and Compliance Management System

The Challenges

  • A single oil and gas company can be faced with multiple offshore and onshore regulations and standards – from exploration to distribution. This could impact multiple sites and various compliance departments and could get highly complex, increasing the risk factor.
  • An aging workforce is creating unique risk management, infrastructure and human resource challenges.
  • A recent ABI Research study predicted that cyber attacks against oil and gas infrastructures will cost companies $1.87 billion by 2018.
  • Industry leaders must determine how to aggregate and roll up risks from all the departments into a holistic view of the company to create action, both in terms of driving business strategies and in understanding anomalies associated with their critical assets.
  • Oil and gas professionals are late adopters of technology. How can the organizations in this industry make Regulatory Compliance Automation its competitive advantage?

Our Solution

360factors provides a regulatory risk and compliance management software platform and advisory services solutions through a simple yet effective regulatory risk and change management model and methodology. Predict360 is specifically designed to integrate all your SEMS, PSM, Asset Integrity, Operational Risk and Quality Management needs into one software. We offer two unique solutions:

Option 1

Managed Services In managed services you pay a flat fee to license the software along with our services that provide enterprise-ready technology architecture to support global scale of operations, efficient and convenient organizational structures and heterogeneous IT environments enabling seamless integration of all GRC processes and systems in a single, cohesive framework.

Option 2

You can secure advisory services on a short and long term project basis supporting your implementation of programs for accountability and communication, as well as policy documentation, change management, communication, and awareness.

Our experts follow a consistent Regulatory Risk and Compliance Management methodology.

  • Regulations drive the “Why” – why does an organization need to comply?
  • Once we understand the “why”, that leads to the “What” – what are the controls and what are the risk levels?
  • Once we identify the risk levels, this helps us prioritize which risks need to be addressed, leading us to the “How”.
Regulatory Change Management Methodology
  • The “How” entails defining a clear end-to-end process on how to mitigate risk and achieve compliance.
  • Once the process is defined, the next step is to identify the point of compliance which is the “Where” – typically a branch office.
  • Once the point of compliance is defined, the last step in the process is to identify the “Who” – who is responsible and who is accountable for actions and approvals?

Our Software

Our advisers and experts use Predict360, a regulatory risk and compliance software to streamline advisory services as a competitive differentiator. It vertically integrates all modules which allow organizations to manage their OSHA, BSEE, USCG, DOT, EPA, Conflict Minerals, NI-52109, COBIT, ISO and compliance mandates such as Extractive Industries Transparency Initiative (EITI), Amendments to EU Directives, Dodd-Frank Act Section 1504, SEC Rule 13(q), SOX, FCPA and other compliance programs based on federal and state regulations through a single platform.
  • Integrates your governance, risk and compliance initiatives in one platform to enable you to adopt a systematic and organized approach to managing your GRC strategy and implementation. It breaks down silos, reducing the costs incurred by multiple installations and minimizing the complexity for functional departments and compliance managers.
  • Maintains and stores a knowledge base of country-specific laws and regulations for your expanding oil and gas operations and subsidiaries in multiple countries and maps those regulations to risks, policies and procedures.
  • It has a cloud-based architecture to support your highly sensitive and vulnerable environment to avoid serious economic and security consequences.
  • Automates your compliance, risk management and quality practices to ensure sustainable efforts for operational excellence and enterprise-wide transparency.
  • Streamlines audit management and risk management processes to enable you to comply with the ever-changing laws and regulations.