Everything comes down to risk. That is the resounding theme I hear from NAVEX Global’s more than 14,000 customers. Across industries and geographies, customers are looking for a more holistic approach to identify and manage their organization’s risk with an integrated software platform.
Our vision, since the founding of NAVEX Global, is to provide our customers with a holistic approach to Risk Management.
Risk is fluid. It does not acknowledge the neat lines of org charts or functional siloes of IT security, vendor management, ethics and compliance, business continuity or other siloed “risk domains.” Our vision, since the founding of NAVEX Global, is to provide our customers with a holistic approach to Risk Management. This vision was the impetus for NAVEX Global’s recent acquisition of integrated risk management (IRM) software provider, Lockpath.
This acquisition brings together the world’s largest ethics and compliance software company with a fast-growing, recognized leader in IRM. While Lockpath already has an advanced IRM solution, we are committed to accelerating its scale with increased investment to fully align strategic, operational, IT and compliance risk management capabilities and integrate those capabilities with our broad solution set, which includes hotline and incident management, policy management, online compliance training and third party risk management.
This effectively reduces the number of disparate GRC solutions that our customers need to manage while extending overall program effectiveness and operationalization.
Operationalization is paramount for our customers. Especially in terms of administrative efficiencies. Professionals charged with their organization’s risk management have outgrown stitched-together, domain-specific solutions. They want to work with a single, trusted provider with a track record of success.
Risk managers want a single point of contact for their software needs. They want a single, unified dashboard to address their enterprise-wide risk. And they want to work with people they already trust and have a relationship with. We can now be that trusted provider for a larger number of customers, and for a larger number of their needs.
Today, as it was at our founding, our vision is to be the center of gravity for risk management. We’ve already accomplished that with respect to Ethics and Compliance Risk Management domain. With the acquisition and integration of Lockpath, our growing suite of risk management solutions will provide our customers with rapid time to value working with a trusted vendor. NAVEX Global’s 96% customer retention rate confirms that our customers derive value from our products and services, and our high Net Promoter Scores indicate they trust us and simply like doing business with us. Lockpath’s customer engagement mirrors this success. Together, we are deepening our collective knowledge base of best practice risk management strategies as well as a shared commitment to customer satisfaction.
Risk management is evolving, and we look forward to continuing to help our customers stay one step ahead – more easily and more confidently.