Spotlight on Higher Education

We hope that everyone is enjoying summer break and looking forward to a productive and fruitful 2016-17 school year! For the same amount of time that this year’s college seniors have been in school, policyIQ has been in the business of supporting organizations with more effective and efficient Policy Management. To that end, we recognize that these supports are critical:
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Unique Needs of Higher Ed

We are grateful for the partnerships that we have with institutions of higher education to support their unique needs in policy management. Similar to the healthcare organizations that we serve, educational organizations have internal/administrative policies and procedures, as well as policy documentation that is directed to the audience that they serve. In the case of schools, we are talking about their students and faculty.

Organizations with both internal and external audiences often oversee various methods or systems for disseminating information. Part of the challenge that they are continually working to meet is keeping track of all of their documentation, recalling what system it is managed from and where it is in the process of upkeep and compliance. While policyIQ can certainly be the home base for all documentation in organizations that have decentralized audiences, it could also be the hub for mapping documentation to its various outlets. By using the database behind policyIQ to track precisely where documentation is to be found, to whom it must be made available, and which processes are related to it, organizations can ensure that the latest iterations are properly communicated to all pertinent audiences.

Remember, policyIQ is also a great place to capture compliance documentation!

Is your staff properly trained and certified on key procedures? Do you have a means for monitoring and verifying, in real time, who has signed-off on corporate policies? Does your organization have a central point of reference for standards and regulatory requirements? Can you map your organization’s policies and procedures to said requirements and provide evidence of coverage?

“YES!”

This can be your resounding answer to all of these questions with policyIQ.

Today, “Governance, Risk and Compliance” is relevant for organizations of all shapes and sizes—public and not-for-profit. Powerful and affordable, policyIQ can help your organization to be more effective and efficient, too! Contact us at support@policyIQ.com to begin or expand your implementation today.

It’s true! policyIQ is a misfit among typical software providers.

Have you been burned by a software provider?

Sheesh—who hasn’t?!

You worked for months (years for some), listening to promises from several different people who kept handing you off and never addressing your concerns. You found yourself with more time and money invested than you care to admit and you have grown to look at all software providers with skepticism (if not disgust).

Does this sound familiar?

I hear you. Your frustration was echoed by countless people that I spoke with at a national conference in March. Because a number of people felt compelled to share their horror stories about other providers with me, I got comfortable jumping quickly to the things that make us different than the typical software company:

  • All-in-one_BubblesRGP is NOT a software company! Integrity is at the core of our firm. We want to create great relationships and serve you so impressively that, when you need a consultant, you already know the quality that you can expect from us.
  • We don’t have a huge policyIQ booth at conferences and our software does not have the huge price-tag required to pay for that presence (policyIQ starts at <$5k/year).
  • We don’t sell multiple modules or products and aim to upsell you. policyIQ really does accommodate multiple business areas and needs in one affordable tool.
  • Our goal is to solve for your information, content, process, and workflow challenges across the Governance, Risk and Compliance (GRC) space, not to land a sale.
  • Your sales person does not make commission or hand you off to an implementation team that’s unaware of promises made during the sales process—we walk alongside you the whole way and help to tailor the implementation to your organization’s needs.
  • Our product does what we tell you it does (and we answer truthfully if you ask us about something we don’t do or plan to develop).
  • We have a support team that truly cares to give you excellent and timely service.

We think of our clients as part of our community with whom we will have a long partnership. We listen to your needs, plans, wishes and heartaches and work continuously to problem solve with you.

We’re proud to be a misfit among typical software providers.

pIQ_Misfit_smWe’re ready to prove it and to earn your trust.

We encourage you to take a peek at this introduction to policyIQ, and then reach out to us!  We’d be glad to schedule a personalized tour of policyIQ. Also, we invite you to kick the tires! Sign up for a 30-day trial, completely risk-free.

We look forward to working with you!

Breaking News: IASB Defers Revenue Recognition Standard for One Year

The IASB recently proposed a deferral of the effective date of the new Revenue recognition guidance.  This announcement follows the FASB’s decision a few weeks prior to defer the similar U.S. GAAP guidance.

Click here to read RGP’s alert for this change, and to learn more about how RGP can help with your implementation.  Don’t delay!

Consider how technology can advance your ERM program

Our firm, RGP (Resources Global Professionals), has been on the road presenting in cities around the country on the “Keys to Success in Enterprise Risk Management”. We’ve had some terrific conversations with Risk, Finance, Legal, Compliance, Security and Audit professionals and facilitated conversations drawing from everyone’s experience to address the hurdles that different companies are facing. These exchanges and new partnerships are invaluable!

Among the keys to success, one that has been identified is the value that technology can bring to several phases throughout the ERM implementation process. If you’re a reader of the policyIQ blog or are a part of the RGP community, you have likely heard that policyIQ is often used for Risk and Compliance documentation, audit, policy management and related process automation. This includes Enterprise Risk Management!

Capturing the full ERM cycle of information in one place helps to ensure that everyone has easy access to the information—the ability to grab a pulse on various aspects of the program in real time from anywhere. This is also of chief importance to a successful program: keeping ERM accessible and an ongoing part of every strategic conversation.

To give some examples:

Questionnaires or surveys
policyIQ provides tools to make the administration of any collection of information more efficient. At your fingertips, you can see who you have heard from, who still has a questionnaire outstanding and you can automate the reminder to those with outstanding surveys or questionnaires.

With that, our tool is utilized to help organizations better understand their risk culture by gathering opinions from strategic members of the organization by conducting a survey—one that might even allow anonymous submission of responses to encourage the most candid feedback possible.

This same functionality is applied to gather an initial and to capture principals’ thoughts on the priority of risks.

Key Documentation and Support
It is critical that a solid ERM process include a number of discussions and agreements among the organization’s risk owners as a matter of course. What conclusions were drawn from the culture assessment? What risks bubbled up to be considered the most critical? What definition (thresholds in dollars, numbers, events, etc.) did you give to your rating of those critical risks? What are the parameters for acceptable (or unacceptable) risks that you use to define your organization’s risk appetite? And the agreed upon considerations or limits for risk tolerance?

Assess, Adapt, Monitor, Measure
In addition to providing a place to collect and gather all of the key pieces of information, policyIQ provides excellent reporting ability. You can zero in on a specific metric in cases where you have a concern and you can schedule delivery of information on a routine basis to aid in ongoing monitoring of performance.

Without a doubt, technology will help any organization to more effectively and efficiently manage their ERM program. We have presented some ideas in broad statements here. Contact us to see and discuss, in more detail, how policyIQ will help your organization to mature your ERM program to the next level.

policyIQ a big hit at the GAM Conference!

GAM BannerAs the IIA has been known to do, their General Audit Management (GAM) Conference was packed with many high caliber speakers again this year! Presenters provided a wide array of insights falling within five tracks:

  • Talent & Resource Strategies
  • Regulatory & Compliance Issues
  • Risk Management
  • Innovation & Technology
  • Stakeholder Relationships & Expectations

Click here to check out the 2015 GAM Twitter highlights!

This year’s conference drew a record crowd and it seemed that the number of visitors to the RGP booth reflected that—we kept very busy talking about the things that differentiate us from other firms, such as

  • 3,000+ professionals in 70+ wholly owned offices (not affiliates) worldwide
  • Consultants have 10-20 years’ experience
  • 87 of the Fortune 100 served
  • 100% retention of top 50 clients
  • Served more than half the Fortune 1000

RGP_PartnersWe had more inquiries about policyIQ this year than at any previous conference. This was in keeping with a theme at the conference regarding leveraging technology to help audit to be more effective and more efficient. Our GAM audience seemed pleasantly surprised and asked the most follow-up questions when they realized that policyIQ can serve several Governance, Risk and Compliance needs within one tool—we do not require, cajole or have to finagle unsuspecting clients into purchasing additional tools or modules to meet their needs. Unlike other audit and GRC tool providers, we are focused on solving their problems and helping them to be more efficient—not on trying to milk them for multiple software applications and upgrades!

pIQ_All-in-oneOther policyIQ qualities that caught the attention of GAM attendees:

  • policyIQ is significantly less expensive than other tools
  • Implementation takes 4-6 weeks (not months or years)
  • Expert configuration support is included
  • Our team is known for “Excellent” service and support

There are some things that you DON’T get with policyIQ that stunned some technology shoppers, too:

  • No extra modules to buy
  • No up-front license fee
  • No upgrade fees
  • No hardware to purchase
  • No IT resources required

This summed up my experience at GAM this year:

GAM_FriendsIf I didn’t have an opportunity to address your questions at GAM and/or you’d like to talk more about how you can employ policyIQ to make your team more efficient, reach out to us at Support@policyIQ.com or 866-753-1231. We’ll have you up and running within the next quarter!

Pre-IPO? RGP and policyIQ Help with Preparations to Go Public

Are you considering going public and beginning to think about all of the steps you should take to prepare? RGP and our GRC tool, policyIQ, can help you to ensure that you have a solid offering and that you are presenting your company in the best possible light.

RGP creates true partnerships with our clients—educating while advising

RGP can help with a range of needs including shoring up your processes and documentation comprising of things like helping you to properly document processes, and ensuring that necessary policies and procedures are in place. This would, almost certainly, include working with you to build a sound financial reporting foundation and solid internal control environment.

We can support your organization with activities that are specific to preparing for SEC Registration such as performing an accounting review to ensure your company meets all necessary financial requirements, helping with the development of your Prospectus, and the performance of a Legal Review.

If your need is more closely related to people resources, such as the need for an interim CFO or adjustments to your Board of Directors, we can help you to make those selections, as well.

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policyIQ: powerful, easy to use and have up and running in no time

RGP’s Governance, Risk and Compliance tool, policyIQ, is easy configure, implement, roll-out and maintain for a range of purposes that serve companies who are seeking public offering. For more than ten years, policyIQ has served clients for the development and maintenance of their SOX 404 documentation, policies and procedures, and automation of their management certification processes.

Clients also take advantage of policyIQ’s flexibility, security features and accessibility to serve their related needs; including as a data room for their Board of Directors and for the development and review of their Prospectus.

Recently, we have worked with clients to make a fresh start, helping them to automate their Financial Statement Risk Assessment and relating their significant accounts and disclosures to relevant assertions and associated risks, controls and tests. We have also made quick work of capturing the 17 Principles required by the 2013 COSO Framework, the associated 87 Points of Focus and helping clients through their transition process—mapping to relevant controls, identifying gaps, performing rationalization and strengthening documentation and procedures, where necessary.

A different kind of software provider—in the best possible way

While many other products have come and gone, been bought and sold, and experienced lags in support, development and testing that have proven difficult for their users, policyIQ has a very different history. RGP has owned policyIQ and supported policyIQ clients in the marketplace for more than a decade. Our software has undergone 29 major and more than 30 minor releases in that time, carrying out thorough testing prior to each release, without ever charging our clients for the latest enhancements or upgrades. We operate differently than a typical software provider; we work hard to keep our software up to date (offering the latest in technology and services) while keeping the cost very affordable.

Reach out to us with any questions regarding RGP’s Pre-IPO services or software. We have approximately 3,000 professionals in nearly 70 offices around the world—someone near you—ready to help you take the next step!

Contract Review for Revenue Recognition Standard made easy using policyIQ!

Contract cycleMany companies have observed and taken advantage of the capability of policyIQ to better organize and keep track of their contracts and agreements. policyIQ is serving organizations as a data room for negotiations and as a place to review and approve various amendments and provisions. policyIQ Reports greatly simplify the monitoring of agreements, milestones and key reporting dates, leading to greater assurance that the organization and contracted parties are in compliance–or at least allowing them to more quickly identify issues and indications that they may be out of compliance. Personnel can be alerted when they are approaching the expiration date of an agreement so that they can begin gathering necessary measurements and prepare to renegotiate the contract. policyIQ is helping companies to gain efficiency and effectiveness in a wide range of areas throughout the contract lifecycle.

Have you established a controlled approach for reviewing your agreements?

With the new Revenue Recognition Standard released in May of this year, we are seeing a surge in interest for a tool to help companies get a handle on all of their arrangements. At the very least, putting all agreements in a database allows companies to separate those that qualify as Contracts (having commercial substance, approval and commitment to perform obligations from both parties, and identification of rights and responsibilities by both parties) from those that do not. Per the Standard, all will need to be tracked and reassessed quarterly. With the customizable nature of policyIQ’s Page Templates, an organization can further capture critical information such as the Performance Obligations in an agreement, the Transactional Price, the periodic review of the Transaction Price, allocation of the Transaction Price, the date that the Performance Obligation is satisfied, and recognition of the revenue.

Easily Monitor Compliance

By tracking critical variables, companies can home in on specific information at any given point and monitor the current status of agreements, obligations, recognized revenue and, perhaps more importantly, those agreements that are falling out of compliance or out of the terms of the contract.

How are you keeping track of your Revenue Recognition project?

We also want to remind you that policyIQ serves as an easy to use central hub for capturing and sharing your project plan, checklists, supporting documentation, and monitoring the status of your project to review your agreements and comply with the new standard.

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Need help understanding and implementing the Revenue Recognition Standard?

Our firm, RGP, has been working to help clients better understand the new Revenue Recognition rules. In a recent webcast, Shauna Watson (RGP’s Global Managing Director of the Finance & Accounting Practice) examined the new rules and changes from current GAAP, giving attendees an understanding of the recognition, measurement and reporting requirements of the new standard, likely impacts to their industry and their organization, implementation challenges, and keys to a successful implementation. A follow-up session focused on the impacts to specific industries. We also want to invite you to attend the next installment, presented on September 22, 9am PT/12pm ET: “Revenue Recognition Webcast Series Part 2: How to Begin Implementing the New Standard”.

Let us know how we can help!

If you’re ready to sit down one-on-one with an expert on the rules of the new standard, reach out to us and we will connect you with your local RGP representative. Of course, you can contact support@policyIQ.com anytime to request assistance with configuring your policyIQ site to accommodate any workflow, documentation or reporting initiative—no additional modules to purchase!