Improve operational excellence, instill sustainability, and increase margins using Predict360 NERC Compliance Solution.

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The Challenges

  • For electric utilities, complying with these regulations is seemingly impossible, considering that there are 94 mandatory compliance standards with over 1,000 individual requirements.
  • One of the biggest challenges is the growing incidence of security threats, diminishing budgets, accelerating changes in the NERC standards, and increasing regulatory pressure.
  • Violations of a NERC standard can invite fines of up to $1 million per day per violation.

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. Through this, utilities companies strengthen and simplify the management of all NERC compliance requirements. Predict360’s software provides an integrated set of tools to streamline and automate end-to-end NERC compliance processes, while consolidating all compliance activities, data and initiatives in a centralized cloud-based framework.

Option 2

You can secure advisory services on a short and long term project basis, giving 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 which allows organizations to manage their NERC, FERC and other compliance programs based on federal and state regulations through a single platform.

  • Simplifies and strengthens your NERC compliance management requirements with best practices compliance processes.
  • Customizable and built-in document management system that houses all evidence file types and maps them to all applicable NERC requirements without creating redundancies, ensuring a single source of processes and information for all evidence to prevent security threats and costly fines and penalties due to violations.
  • Graphical dashboards and reporting system that allows you to carefully monitor your risks and provide real-time visibility into NERC compliance processes to maintain a proactive and sustainable compliance function.