Effectively manage risk and efficiently achieve compliance with GRC software.

Utilities Governance Risk & Compliance

The Challenges

  • Energy and utility companies are faced with rapidly changing business environments because of increasingly complex regulatory requirements, growing cyber threats and vulnerable standardized technology.
  • The lack of appropriate risk and compliance management frameworks and techniques can lead to undesirable consequences and hefty penalties from national and regional regulators.
  • Risk and compliance impact all business functions operationally as well as strategically, making it imperative for companies to adopt an integrated and scalable approach to manage risk and cope with the complex regulatory landscape.

Our Solution

360factors provides a regulatory risk and compliance management software platform and advisory services that allow implementation of critical governance initiatives such as programs for Standards of Conduct and EHS through document control, compliance training, ongoing auditing, and recording and reporting of FERC-related violations geared through an effective regulatory risk and change management model and methodology.

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. Predict360’s advanced and comprehensive suite of solutions that empower organizations to effectively manage risks and efficiently build compliance processes is easy, efficient and sustainable.

Option 2

You can secure advisory services on a short and long term project basis to give you the solutions you need to create, review, and store policies in a centralized repository, while also mapping policies to regulations, and tracking exceptions such as compliance gaps and risks.

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 whichallows organizations to manage their NERC, FERC and other compliance programs based on federal and state regulations through a single platform.

  • Stores and maintains a requirements knowledge base of utilities regulations across multiple geographies for effective risk and compliance initiatives.
  • Provides a comprehensive and accurate enterprise view of risk and compliance across the organization and maps risks to root causes, events, hazards and other elements of GRC to prevent cyber attacks, vulnerabilities and costly fines and penalties.
  • Integrates a customizable, easy-to-use information system that allows your organization to sustain success and avoid damaging and potentially catastrophic outcomes.