The Client: Fortune 500 Semiconductor Manufacturer

Overview

As companies grow larger and more globalized with several thousand employees scattered across different geographies, one of their central challenges is to effectively manage and implement corporate compliance policies.

Most of the time, policy management processes tend to become decentralized and fragmented, as each organizational division begins to draft, manage, and store its policies in different ways, formats, and systems. This approach not only creates inefficiencies in policy processes, but also limits policy transparency, accountability, and traceability. It also makes things difficult for employees across geographies to easily find policies that are relevant to their roles, along with the associated tasks, attestations, and training requirements.

In addition, there is the challenge of aligning policies with both global standards and local requirements. For instance, at the global level, a company may have strict policies against gift-giving. But in some countries, especially in Asia, gift-giving is an integral part of their culture. These exceptions need to be taken into consideration.

Realizing the importance of proactively addressing these issues and challenges associated with a fast-growing global organization, the client sought to implement an integrated and flexible solution that would support both global and local policy management, while also standardizing and streamlining end-to-end policy processes, simplifying policy search and discovery, and rolling up policy information from across the global organization to provide a consolidated view at the enterprise level.

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Solution

After deciding to upgrade its policy management processes, the client analyzed several vendors who could help the company in its efforts. MetricStream was chosen based on its ability to provide a truly flexible and robust solution that could scale across the global enterprise, and integrate all policies and policy management processes in a common framework.

With the MetricStream solution, the client was able to control and monitor the complete policy management lifecycle. It provided the following capabilities:

 A Centralized Policy Repository
The solution provided a common repository in which to consolidate all enterprise policies that were previously stored in different systems. This web-based repository acts as single go-to destination for any policy reference needs anywhere across the global enterprise. As a result, policy search and discovery has been greatly simplified and enhanced.

Structured and Streamlined Processes
The solution enabled a systematic and standardized approach to all policy management processes. Workflows for each process are clearly spelt out, making them more structured. In addition, roles and responsibilities are clearly defined, promoting accountability and transparency.


Work-flow Based Tools
Using the solution, a mix of both inline and document-based policies are being created. These policies are then automatically routed for review and approval. Once reviewed, the new policy is efficiently communicated to end users with the help of automated alerts and notifications.

The solution also supports policy attestation quizzes to ensure that the end user has read and understood the policy. In addition, it helps users log policy exceptions which are automatically communicated to the relevant policy manager.

Standardized Policy Templates
The solution enabled the client to standardize not only policy related processes but also policy templates and formats. This has made policy development and communication much more consistent across the enterprise, irrespective of where and in which business division the policy has been created.

Linkage to Current Policy Management Systems
The solution seamlessly integrated with the client's existing policy management systems so as not to compromise user familiarity with existing tools and applications. At the same time, it enhanced the effectiveness of the organization's policy management approach, and deepened policy penetration across the enterprise.

An Intuitive User Interface
The MetricStream solution provided an easy-to-use Web-based interface that directly linked to policy documents, and promoted user adoption of the system.

Scalability and Extensibility
The solution is being accessed and used by hundreds of policy managers and thousands of "policy consumers" – including organizational directors, employees, business partners, and vendors.

Challenges

Before implementing the MetricStream solution, the client faced several challenges:

  • Internal business groups such as Legal, Information Security, and HR developed and managed their policies using multiple, independent processes with localized point applications
  • Policy related processes and templates were not standardized across the enterprise – this often resulted in duplication of effort, costs, and policy content
  • Different policies were stored in different repositories, and it was challenging for stakeholders to quickly search for and locate the policy they needed
  • Policy development, review, and approval processes were not streamlined and therefore, not optimally efficient or cost-effective

Why MetricStream?

MetricStream provides a common policy management system that seamlessly scales across the enterprise to integrate all policy related activities, entities, and content

The solution acts as single point of reference for any policy reference or management needs

The solution easily integrates with existing enterprise and policy management systems

The underlying platform provides the extensibility to not only scale up to address the increasing policy related needs of the organization, but also expand to address future related concerns such as risk management, compliance management, corporate governance, and supplier governance

Benefits

  • Enable a more simplified and consistent approach to policy management
    Multiple localized point systems and policy management processes have been replaced with MetricStream's single, centralized framework for managing all policy related activities across the global enterprise.
  • Minimize process redundancies and inefficiencies
    The MetricStream solution facilitates systematic and streamlined processes for the complete policy management lifecycle, ranging from policy development, to policy review and approval, policy implementation, policy communication, and policy maintenance. As a result, redundancies and duplicate effort have been proactively identified and minimized.
  • Simplify policy search and discovery
    All policies are stored in a centralized and easily navigable repository, enabling nearly 120,000 users to quickly access and discover the policies they need.
  • Improve the transparency of policy management
    The MetricStream solution enables enterprise-level tracking and traceability of the status of policy management processes through powerful and flexible dashboards and reports.

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