Suma Soft Enhances Governance, Risk, and Compliance for a Leading Telecommunications Provider

Client's Background

A leading multinational telecommunications giant that provides services to customers in over 50 countries operates on a vast scale and plays a critical role in global connectivity. It is committed to maintaining the highest compliance standards, such as ISO, HIPAA, etc., data privacy laws, industry-specific standards, and international compliance frameworks.

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Challenges

  • Operational Scale and Complexity:

    Managing compliance and risk across a vast network of operations in over 50 countries posed significant logistical and organizational challenges.

  • Diverse Regulatory Landscape:

    Navigating the intricacies of varying data privacy laws, industry-specific standards, and international compliance frameworks across different jurisdictions was complex.

  • Data Privacy and Security:

    Safeguarding sensitive customer data and ensuring robust data privacy practices are critical in the telecommunications industry, requiring constant vigilance and advanced security measures.

Project Requirements

  • Risk Assessments & Compliance Reporting:

    The organization required continuous monitoring and risk assessments to target a 30% reduction in vendor-related incidents. Mitigate risks associated with third-party vendors, ensuring a smooth customer service experience and reducing errors and delays.

  • Integration across systems:

    The organization sought to improve cross-functional risk management collaboration by 25% by integrating systems with existing functions. The processes provide a holistic 360-degree view, addressing all financial, legal, strategic, and security risk angles.

  • Tracking and managing policy:

    Managing policy that will track, adapt, and adhere to regulatory changes to maintain compliance across multiple departments and regions, ensuring 98% compliance with relevant regulations.

  • Efficient audit processes:

    Streamlined audit processes that identify and address potential gaps in customer service delivery, reducing manual intervention by 75% and improving inter-team coordination.
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ServiceNow Solution

  • Unified Platform:

    Our ServiceNow GRC Implementation Services consolidated risk and compliance management processes onto a single platform.

  • Automated Tasks:

    Automating manual tasks, such as risk assessments and compliance checks, improved operational efficiency by 60% and reduced errors.

  • Enhanced Risk Visibility:

    The organization gained greater visibility into its risk landscape, enabling a proactive approach to risk mitigation.

  • Streamlined Policy Management:

    Automated policy management that helped compliance tracking be more consistent and transparent across regions and departments, ensuring a 30% reduction in policy management workload and a 15% improvement in policy adherence.

  • Streamlined Audits:

    Audit processes were streamlined to identify and address potential gaps in customer service delivery, resulting in more efficient and 25% faster audits with fewer manual touchpoints.

  • Real-time Dashboards:

    Real-time dashboards provided executives with insights into the organization's compliance posture and areas of improvement in compliance and risk, ultimately enhancing decision-making capabilities and boosting organizational performance.

Business Outcome

Suma Soft's ServiceNow GRC implementation transformed the client's governance, risk, and compliance approach.

  • Centralized System:

    A unified platform provided a single source of truth for all GRC-related information.

  • Improved Data Accuracy:

    Automation and integration significantly improved data accuracy, reducing reporting errors by 45%.

  • Enhanced Audits:

    Streamlined audit processes improved efficiency by 65%, reducing audit cycle times.

  • Mitigated Operational Risks:

    Proactive risk management reduced operational risks by 40%, minimizing disruptions to customer service.

  • Ensured Global Compliance:

    Improved policy management ensured 98% compliance with relevant regulations like ISO, HIPAA, etc. across all regions.

  • Competitive Edge:

    Enhanced GRC capabilities provided a competitive advantage by demonstrating a commitment to compliance and risk management, leading to a 35% increase in customer trust and a 20% gain in market share.

  • Demonstrated Effectiveness:

    The implementation showed the effectiveness of a proactive and integrated GRC approach, resulting in a 20% reduction in compliance-related costs and a 40% improvement in risk mitigation effectiveness.
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