FCPA | ProcessGene

Solution & Benefits

ProcessGene™ FCPA Software – Introduction

The ProcessGene™ GRC software suite provides a complete solution for FCPA compliance. The FCPA software is implemented within days, immediately creating compliance visibility and centralized control.

The FCPA software establishes an automated workflow that reduces the time and cost of compliance enforcement and eliminates manual labor, maintenance of multiple excel spreadsheets, etc. ProcessGene™’s FCPA software is designed for multi-subsidiary organizations, based on our Multi-Org technology.

ProcessGene is acknowledged worldwide as a leading provider of Business Process Management (BPM) software solutions (see Gartner’s report on ProcessGene).

FCPA Compliance in a Changing Business Environment

In today’s highly regulated environment, enterprises are increasingly strained by regulatory compliance concerns, while at the same time having to promote the ongoing conduct of business. Executive officers are specifically required to demonstrate capabilities for effective regulatory compliance, and to ensure corporate transparency and visibility into the business.

ProcessGene™ GRC software provides a complete solution for FCPA compliance. The FCPA software is implemented within days, and uses automation to reduce the time and cost of compliance enforcement.

Compliance Challenge

The Foreign Corrupt Practices Act regulation (also known as “FCPA”) was introduced 1977 by the U.S. Department of Justice, Criminal Division, Fraud Section, and has been continually maintained and updated to reflect the dynamic changes in business environment. The Foreign Corrupt Practices Act regulation is aimed at preventing bribery of foreign officials by American businesses to reduce corruption and money laundering. FCPA applies to U.S. persons and businesses, certain foreign issuers of securities, and foreign firms and persons who take any act in furtherance of a corrupt payment while in the United States. Parent companies located in the United States are liable for violations by foreign subsidiaries. The penalties for breaking the Act include imprisonment for up to 20 years and large fines.

The FCPA also requires companies whose securities are listed in the United States to meet its accounting provisions (see 15 U.S.C. ° 78m). These accounting provisions, which were designed to operate in tandem with the anti-bribery provisions of the FCPA, require corporations covered by the provisions to (a) make and keep books and records that accurately and fairly reflect the transactions of the corporation and (b) devise and maintain an adequate system of internal accounting controls.

Ensuring compliance with the FCPA regulation is an important organizational task, which requires ongoing management of compliance data. The compliance process is continuous and needs to be repeated periodically and closely monitored. Managing officers are personally responsible to maintain the FCPA compliance, and this responsibility requires significant management attention and allocation of time and effort. Beyond self assessments or assessments of compensated third parties (such as accounting auditors or regulation consultants), the organization may also confront other external audits, such as U.S. Department of Justice, Criminal Division, Fraud Section, that show little if any tolerance to deficiencies. The ProcessGene credo in this matter is that objective compliance data, maintained by the organization itself, has much higher value than opinions of compensated third parties. We also believe that only an ongoing, continuous process can ensure actual compliance and audit clearance.

Compliance Challenge for Multi-Subsidiary Organizations

Multi-subsidiary organizations are confronting even more complex compliance challenges, due to differences between the business processes and operational characteristics of subsidiaries. Hence, the management and communication of FCPA compliance in a multi-subsidiary environment becomes an extremely complex task when managed manually or by tools that are not specifically designed for Multi-Org operations.

FCPA Compliance with the ProcessGene™ GRC Software Suite: Solution & Benefits

ProcessGene™ GRC software provides a complete solution for FCPA compliance. Our Multi-Org software solution automates the FCPA compliance lifecycle and offers the following benefits:

Very fast implementation, the FCPA software is up and running within days
The FCPA software is based on Multi-Org technology, designed for FCPA compliance in multi-subsidiary organizations
The FCPA software features full automation of the FCPA compliance process using the ProcessGene™ BPM workflow engine, making it the most powerful system in the industry – yet the most intuitive and user friendly
The FCPA software features central cockpit with dashboards for data analysis and diagnostics- showing quantitative FCPA compliance fulfillment levels
The FCPA software features easy and fast access to objective evidence used for external audits
The FCPA software features direct connectivity to ERP systems (e.g. SAP / Oracle) and ability to extract and process data in real time, and run automated tests
The FCPA software covers not only FCPA compliance but also hundreds of other regulations and frameworks – all within the same framework
The most seasoned and comprehensive SaaS (Software as a Service) solution in the GRC domain (see Gartner’s report on ProcessGene)
The FCPA software improves the quality of FCPA internal audits and self-assessments
Prevent penalties and loss of reputation

ProcessGene™ “Multi-Org” Technology

ProcessGene™ has been a pioneer and global leader in Multi-Org technology. During the past decade we have mastered a unique expertise in providing software solutions to multi-subsidiary organizations worldwide (see Gartner’s report on ProcessGene). Our FCPA compliance software has been specifically designed for multi-subsidiary organizations and it features the most comprehensive solution for complex, distributed compliance challenges. Read more about ProcessGene Multi-Org technology.