Whistleblower Ethics and Reporting Management. Photo: RMN News Service
Global tech market research firm International Data Corporation (IDC) has published an IDC Innovators report profiling three companies that offer whistleblower ethics and reporting management solutions. The three companies named IDC Innovators are Red Flag Reporting, Whistleblower Security, and EthicsGlobal.
According to IDC, most organizations currently rely on internal reporting channels to learn about incidences of corporate fraud, harassment, and security breaches.
Unfortunately, it says, these channels are seldom truly anonymous and can be ineffective. Enabling employees to report fraud and misconduct anonymously can help stop major scandals in early stages before too much damage is done.
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To meet this need, according to IDC, a specialized segment of the governance, risk, and compliance software and services market has started to bloom, supporting anonymous reporting and communication across hotlines, messaging services, email, and Web portals.
“Outsourcing and hiring a third party to manage your whistleblower services is the most effective way to have effective anonymous reporting that empowers and comforts your employees,” said Ryan O’Leary, senior research analyst, Legal, Risk and Compliance Solutions at IDC.
Red Flag Reporting offers an online case management solution with fully anonymous reporting and investigation capabilities that automatically compiles reports from all channels into one management tool.
Whistleblower Security provides three levels of anonymity and a fully searchable case management tool that allows companies to consolidate trends and reports across the organization with an all-inclusive pricing model.
EthicsGlobal tailors its solutions to each customer’s needs with a la carte pricing and an in-house software development team capable of delivering completely custom processes and software.
The report, IDC Innovators: Whistleblower Ethics and Reporting Management, 2018, profiles three emerging vendors with their solutions for whistleblowing ethics and reporting management.