ViClarity: Solid Foundation for Risk and Compliance Monitoring
John Ogie Sheehy, CEO & Founder“Many organizations were finding it tough to remain compliant with regulatory standards and faced the dilemma of implementing measures that adhered to the regulations,” begins Sheehy. “What I encountered was a lot of organization’s initial approach was to use tools like Excel and Word. However, these methods were time-consuming and failed to offer ease of use and accountability, so I created an essential software platform that is customizable, cost-effective, allowing users to implement technology that best fitted their business quickly.”
ViClarity is a unique and innovative platform designed to track and manage risk and compliance processes under a single repository delivering visibility, accountability, efficiency, and simplicity for the organization. “ViClarity transforms the tedious excel process into an automated online software tool that gathers and verifies risk and compliance data while also enabling managers to view trends in the real time on a centralized, user-friendly dashboard.” This simple, automated, and workflow-driven process provides complete transparency and a clear audit trail of tasks, which regulators often demand.
ViClarity transforms the tedious excel process into an automated online tool— hosted software—that gathers and verifies performance and compliance data
With this real-time data, managers can track underperformance and noncompliance throughout the organization and can create corrective actions to resolve these issues.
Recently, ViClarity has grown exponentially in the healthcare and financial services market. “We started working initially with Credit Unions in Europe who are regulated by bodies similar to the NCUA. We then expanded into the US financial services landscape,” points out Sheehy. “ViClarity ensures that financial services companies in areas such as Banking, Credit Unions, Insurance and Investment Management monitor all aspects of GRC and have access to further solutions in areas such as Vendor Management, Branch Certifications, Cybersecurity and more including the ability to customize the product for state regulations.” ViClarity has pre-populated templates mapped directly back to industry regulations which organizations can customize to fit the precise needs of their business.
ViClarity has been implemented by leading financial institutions including; an Illinois-based 3 billion-asset institution that has over 150 vendors, have implemented ViClarity to manage their vendor process. Prior to ViClarity the vendor selection and management process were extremely time-consuming. Vendor information was often spread across multiple Excel spreadsheets and Word documents, which made collating the information difficult and cumbersome. This process has been transformed using ViClarity; vendor data is now entered into the ViClarity system directly, replacing the need for manual spreadsheets. Once the information is entered, it is automatically displayed in a live dashboard. Trends, areas of concern and statistical information are gathered on all vendors. ViClarity has saved the Credit Union 50 percent of their time on Vendor Management.
ViClarity delivers best-in-class risk and compliance software. The firm continues with its philosophy of revolutionizing compliance monitoring standards in a growing industry sector. ViClarity have recently launched their Cybersecurity and Data Protection solutions which will ensure organizations are ready for the incoming regulation. Through their uniquely customizable solution and global partnerships, ViClarity will continue to grow their international footprint in both the healthcare and financial services sectors.
