The Fincom Solutions Platform enables a client company to build a zero-tolerance compliance culture by automating the task of employee compliance confirmations and by enabling employees to easily capture recordable events such as gifts, hospitality or entertainment, both online and via the Fincom Mobile App. The Platform also contains up to date e-learning courses so as to ensure all employees know exactly what their responsibilities are.
The Fincom Solutions Platform also makes use of Big Data techniques such as Data Mining in order to give advance warning of potential non-compliance. A client can customise the Fincom Solutions Platform to monitor electronic correspondence such as emails, invoices, expenses etc for key words and key phrases that may indicate a need for further investigation. All of the above helps Fincom Solutions clients build a full defence when it comes to compliance with Anti-Bribery and Corruption Legislation, as non-compliance can lead to unlimited fines, significant reputational damage, and imprisonment for up to 10 years for those involved.
Fincom Solutions was set up by Irish Entrepreneur Rónán Harper who had previously been with KPMG for the past 13 years, most recently as a Senior Audit Director. Rónán states “from my time working with KPMG I found that many businesses were being exposed to Anti-Bribery and Corruption Compliance Risks due to the fact that they have not put the adequate policies and procedures into place. When I could not find a technology solution for my clients I saw the market opportunity and decided to go and develop one instead”.
Rónán goes on to say “given the risks of non-compliance, being able to demonstrate that an organisation has complied with Anti-Bribery and Corruption Legislation is of paramount importance, and our Platform can easily do just that. Our solution can help our clients minimise the risk of non-compliance efficiently and with very little administration effort. Our web and mobile based Platform is scalable, flexible and can be fully customised to a client’s specific needs”.
The Fincom Solutions™ Platform was officially launched recently at an event in the CoLab in Letterkenny by Julie Sinnamon, CEO of Enterprise Ireland and Terence O’Rourke, Chairman of Enterprise Ireland. Speaking at the launch Terence O’Rourke stated “the team at Fincom have conceptualised, created and are now commercialising a totally new platform, all of which have been completed in just a few short months. It is this type of fast innovation and new product development that Enterprise Ireland are proud to support and we believe Fincom Solutions has a great product with significant international potential”.