TOSMS have been driving large scale change intitiatives in the Financial Services and various other heavily regulated sectors for over two decades. During this time, it has become increasingly evident from our engagement with certain anchor clients throughout this period that the majority of these large and complex organisations are struggling more and more to keep up with the risks that ongoing changes to their operations from external and internal events are causing.
Solutions that we implemented a decade ago were driven through the use of Excel spreadsheets, Visio diagrams, Powerpoint slides and Word documents. The Governance, Risk and Compliance functions were largely manual operations that had little airtime at the top governing bodies’ tables.
Although a lot more airtime is devoted to GRC at the top levels today, what has not kept up over the past decade is the harnessing of technology to automate much of what needs to be controlled properly in these companies by their GRC operations. We still see large reputable companies being named and shamed by regulators. This is because, as the saying goes, the devil is in the detail and relying on the old manual processing in the GRC functions is no longer an option and is creating a ever-increasing loss of control, often without those in authority realising it.
TOSMS have invested a considerable amount of our time and money over the past decade to codify our learnings from the two decades we have been in business and seen how the lack of automation has come back time and time again to create headaches for our clients.
Just the number of changes to the same core legislation that we have had to implement where a significant rework of previous efforts was needed because of the lack of automation in the area of change control in particular is significant and could have saved our clients vast sums of consulting fees and delivered results much quicker that would have been more sustainable.
We have a number of systems that we have been developing over the years and that we contiue to refine. These can be viewed in the drop-down list under this menu item.