Our Solution
Create an ethical
and compliant culture
Built for the enterprise. Designed for humans
Expose Fraud
Occupational fraud is the most common kind of fraud and is extremely costly and difficult to detect. The 2018 Report to the Nations on Occupational Fraud and Abuse found that a typical organization loses 5% of its annual revenues to fraud and fraud schemes last an average of 16 months before being discovered.
- Create a safe channel for employees to speak up in confidence either anonymously or in-name
- Misconduct investigators can continue the conversation with a whistleblower while preserving their anonymity if they so choose
- Demonstrate to employees that action has been taken and retaliation is not tolerated
Reduce Bribery & Corruption
The vast majority of bribery and corruption incidents go unreported. According to the EU’s 2017 Special Eurobarometer on Corruption 81% of employees did not report corruption that they experienced to anyone.
- Remove disincentives to reporting by demonstrating consequences for the perpetrators and protection for those who report.
- Less than 50% of workers know where to raise their concerns but the Vault App is always with them
- Vault Platform helps businesses create a robust internal reporting process that demonstrates corruption will not be tolerated
Whistleblowing & Regulation
Businesses have increasingly stringent regulations to comply with when it comes to whistleblowing and internal reporting of misconduct.
Whether it’s the EU Whistleblower Protection Directive, the UK’s Financial Conduct Authority (FCA) regulations, Sarbanes-Oxley Act Section 301 (SOX) in the US, the Whistleblower Programs Improvement Act (WPIA), or the Whistleblower Protection Reform Act of 2019 (WPRA).
- Vault Platform helps you remain compliant and effective when dealing with whistleblowing incidents
- Encourage potential whistleblowers to raise their concerns internally, before going to an external party
- Get to resolution fast, before incident reporters become frustrated with the process
Ethics & Compliance
Vault Platform allows you to comply with local laws and regulations in terms of providing incident reporting and resolution channels. This compliance gain is passed on to your employees encouraging them to adhere to your Corporate Code of Conduct.
Many companies measure the ethical health of their company based on the number of calls they get to their ethics hotline but this gives a false impression as hotlines are only used by 6% of employees that report misconduct.
- Vault Platform reveals previously invisible misconduct by encouraging employees to speak up internally
- Set the groundwork for a robust and ethical workplace environment that shows misconduct will not be tolerated
- Demonstrate that those who speak up will be listened to and supported
Reduce Harassment
The Employee Equal Opportunities Commission (EEOC) deals with around 90,000 misconduct charges annually and almost one-third of these involve harassment claims. Legal settlements can run into the millions and are just the tip of the iceberg when it comes to reputational damage.
- Create a safe and confidential space for employees to speak up internally without fear of retaliation
- Anonymous reporters can retain their anonymity and still participate in an investigation
- GoTogether feature means people are 8x more likely to come forward than with incumbent solutions due to the power of strength in numbers
Eliminate Discrimination
The challenge of discrimination has been on the HR, Compliance, and Legal agenda for some time. Racial discrimination has increased in priority in recent months due to movements such as Black Lives Matter.
When it comes to systemic discrimination the numbers speak for themselves. According to a survey conducted in late 2019 by the Center for Talent Innovation 58% of black professionals have experienced racial prejudice at work. Black employees also account for only 8% of professional jobs and only 3% make it to executive level due to biases in talent progression.
- Address both conscious and unconscious bias in your workforce
- Create a safe and confidential space for employees to speak up
- Expose systemic discrimination
Address Bullying
Bullying, whether online or physical, is the most common form of misconduct experienced or witnessed by employees in the workplace. Over 70% of workers will encounter bullying at some point in their career.
- Gives employees a safe and confidential place to speak up about their concerns
- Route reports to the most relevant stakeholder so as to avoid conflicts of interest
- Ensure two-way communication between the employee and Case Manager even if the employee chooses to remain anonymous
Ensure Personal Safety
The COVID-19 crisis is contributing heavily to a re-focusing of workplace priorities to physical and psychological safety over career progression and personal growth.
Government legislation such as OSHA’s requirements about employee coronavirus infection reporting in the US, or the EHRC’s mandate on preventing workplace harassment in Europe are putting more pressure on companies regarding internal reporting and resolution.
- Enable a trusted channel for employees to report their concerns about safety or wellbeing
- Enable your stakeholder teams to act quickly to achieve resolution
- Capture information about infection outbreaks on the ground
Security
A trust platform with
security at the core
Vault Platform’s core application is to facilitate trust between companies and their people and to help to create working environments that are inclusive, diverse, productive and safe. This is why we consider security and data privacy to be critical components of our platform and why both are at the foundation of everything we do.
Vault Platform is ISO 27001 certified and GDPR compliant
Data encryption in transit and at rest: TLS and AES-256 technology protects your information
Servers located in the EU and UK, in AWS data centres that are ISO 27001, SOC 1 and SOC 2 certified