Built on two pillars, technology and support, Governance.com is a powerful solution that helps regulated and unregulated companies achieve good internal governance. The technology of Governance.io is a flexible data and document management system which centralizes all information and controls of an organization. In addition to the central data repository, it provides a workflow management system that ensures controls are performed on time. The reporting engine allows custom built reports to be produced instantly, and the client portal allows clients to engage with external stakeholders. This collaborative interface includes tools such as 3rd party due diligence, board meeting management, committee management, document exchange and real-time communication.
Moving ahead, Governance.support is the second pillar of the platform, and connects clients to a network of operational support partners and regulatory specialists. It provides companies with direct access to expertise and support whenever needed, and in their location of choice.
Built to be a Part of this Industry
The founders of Governance.com boast more than 35 years of combined experience in dealing with Risk and Compliance processes, both in regulated and unregulated business environments. Based on this, they realized that a step-change in dealing with governance processes was needed.
Governance, Risk Management and Compliance (GRC) are terms that are often used interchangeably, because of their closely related applications. In the first academic research on the topic in 2007, Scott L. Mitchell described GRC as follows: “The integrated collection of capabilities that enable an organization to reliably achieve objectives, address uncertainty and act with integrity.”
Within this framework, governance is the overall process of managing and controlling the organization. Risk management and compliance are part of the governance process, dealing with the identification and management of organizational risks, and ensuring that the organization behaves in accordance with internal and external requirements.
Since the time that the above study was published, basic requirements have not changed, but the ability to obtain full control has become almost impossible, especially in a regulated environment. Rules and regulations are constantly expanding while data has literally exploded. So, how can one retain the control of exceedingly complex structures with such an information overload?
The answer of Governance.com to these challenges is to collect and connect all the data and documentation within the organization, including the compliance rules, and the risks identified, monitored, and mitigated. As a result, organizations become more transparent and easier to manage.
A Leader with Extensive Experience
The CEO of Governance.com, Bert Boerman, has a 15 year track record in the financial sector. In his last role as the Senior Vice President at ABN AMRO, he was in charge of the regulated fund depositary activities of the bank. Bert was growing increasingly frustrated with the lack of good software solutions to deal with the compliance and oversight tasks in a simple way. In 2014, he decided to leave the bank to build Governance.io together with his co-founder and twin brother Rob, the former CTO of the largest online customer satisfaction company in The Netherlands. The twins invested almost 2 years in building the flexible solution with a team of 20 people in 2 countries. The first version was released in November 2015, and has since then seen continuous development to make governance tasks even simpler.
Under his able leadership, the Luxembourg headquartered company has surged ahead of its contemporaries and has been rewarded for the same. The company was awarded with the FinTech Startup of the Year award in Luxembourg in 2016. Since then the company has been included in leading publications such as The European FinTech100, The FinTech50 Hot Ten List, The CB Insights RegTech Map and the Global RegTech 100 List.
Distinguishing From its Competitors
The first factor that distinguishes Governance from its contemporaries is its unwavering focus on simplicity. Since oversight processes and regulated structures are complicated, any solution addressing this complexity needs to focus on simplifying the process. The only way any software will be successful is when it is adopted by the people within an organization. This only happens when they see that the solution makes their life easier. The Governance.io technology was built with that objective in mind.
The second distinguishing factor of the Governance.io technology is that it can be deployed on-premise or in a private cloud infrastructure; clients can change the dataset to their exact needs and customize the look and feel to match their house style. The flexibility of deployment and customization is unrivalled in the industry. And the multi-platform availability of data and documents anywhere and anytime turns the compliance burden into a competitive advantage.
And finally, the offer of both technology and support services give clients the flexibility to choose what part of the process is performed in-house, and to outsource the rest; freeing up valuable business time in the process.
A Future Filled with Expansion
Aside from the strongly expanding client base in Europe, Governance.com is preparing to open offices in New York and Singapore in 2018. At the same time the global partner network will be strongly expanded, and many new features of the technology will be deployed on a monthly basis. The objective of the company is to become a global standard in efficient governance processes through a combination of technology and support.