BPS Resolver provides enterprise risk management, compliance and audit software solutions tailored to the needs of utilities and power companies. BPS Resolver’s GRC Suite enables companies to stay on top of regulatory requirements, manage risk and enhance internal audit while aligning activities with corporate objectives.
The power industry has always been complex, involving massive capital investment, technical expertise, heavy regulation, high expectation of reliability and complex relationships with industry peers, government, communities and investors.
Because of these factors and the critical part they play in north North American life and commerce, many utilities have adopted enterprise risk management (ERM) as an essential management process. ERM joins internal audit and NERC critical infrastructure compliance as similar yet independent processes that require the assessment of risks, identification of controls and deficiencies and the assignment and tracking of work.
To manage all these – and for many investor-owned utilities, compliance with the Sarbanes-Oxley Act—utilities require a flexible repository, reporting and work tracking system that can handle these disparate GRC activities and identify commonalities that reduce the duplication and redundancy of tasks.
As many GRC activities are most effective when handled by people “in the field”, ease of use is also vital to ensure widespread participation.
GRC Suite from BPS Resolver provides a solution for managing all these GRC requirements. GRC Cloud enables the customized design of multiple frameworks covering compliance with regulations and legislation, enterprise risk management, internal controls over financial reporting and internal audit and the combination of these.
GRC Suite customers benefit from flexibility of design and intuitive and easy to use interfaces that minimize training time and encourage participation across the enterprise. Plus, utilities that require input from suppliers and third parties can take advantage of advanced permissions management and the use of a non web-based client application to enter and update information.
Standardizing on GRC Cloud means that management is provided with standardized and consistent reporting that enables issues to viewed across the enterprise and drilled down through for more detail, whether organized by business function or regulatory area.
To ensure customers keep in compliance with NERC, BPS Resolver partners with a major specialist information provider to ensure details of NERC CIP regulations remain current and changes and additions are automatically pushed to customers sites. BPS Resolver can also package a number of frameworks, including COBIT, COSO, PCI DSS into any customer’s implementation to provide the basis for effective enterprise compliance.
BPS Resolver has worked with municipal and state-owned, investor-owned and cooperative utilities on regulatory compliance, risk management, internal audit and financial controls. For more information on our solutions and our experience, for a demonstration, or to ask any questions please contact us.