Corethix was officially launched by StartWare Global this month. Corethix is a software hosted platform that was jointly developed by StartWare Global and Core Integrity to fill an emerging need in businesses that need protection from People related Risks.
Integrity Risk is starting to be reviewed by Boards, CEO’s and Company Directors across all businesses who are concerned with the reputation and commercial exposure they are facing today.
“As a company Director and advisor to a number of Boards, the responsibilities around Bullying, Sexual Harassment, Bribery and Corruption, Anti-Competitive behaviour and fraud, just to name a few, are high and always revolve around employees doing the wrong thing” said Christopher Crowe CEO and Co-Founder of Startware Global. “We discovered how prevalent this problem was when we met the team at Core Integrity who are experts in Integrity Risk and who investigate fraud, corruption and employee misconduct issues for company Directors. This led to both companies realising there is an urgent need in the marketplace which led to the development of the Corethix software platform.”
To help protect against Integrity Risk, businesses need to ensure that they are compliant with their legal and regulatory obligations and have effective policies and procedures in place that align with their values, goals and objectives. Critically, they must also ensure that employees understand and adhere to those policies and procedures whilst helping businesses achieve their goals. While some businesses have launched policies covering some elements of Integrity Risk, often many of these policies are not up to date, difficult to access and rarely been attested by their employees to confirm their understanding and acceptance. This leaves businesses more vulnerable to the impacts caused by integrity related risks.
“The idea for the Corethix platform came from our collective 40+ years’ experience in conducting fraud, corruption and integrity investigations and advisory work for some of Australia’s largest and most respected companies” said Darren Murphy, Co-founder and Director of Core Integrity. “We know firsthand that mature companies often have disparate systems that tackle a few of these issues if they are lucky, whilst smaller organisations struggle to get any type of integrity program in place across their organisation. Regardless of size, most organisations don’t have a consolidated platform that brings to life their integrity and compliance program, which is why we created Corethix”.
The Corethix software platform solves this crucial business need. ‘Out of the box’ the platform provides a centralised, dynamic and holistic view of an organisation’s integrity risk and compliance program.
The platform includes modules offering; up to date policy templates, pre-configured policy surveys, conflict of interest registers, gift and entertainment registers and incident reporting tools, including access to a company ‘speak up’ and whistle-blower reporting hotline.
This enables businesses to quickly and easily create or upload policies, configure surveys to improve awareness and for the first time, have access to a centralised register for recording conflicts of interest, gift and entertainment and incidents, all in the one place.
For employees, the Corethix platform is mobile and device friendly and provides employees with a simple platform to access anywhere or anytime to help them and their organisation manage integrity risks.
“To complete the offering, we needed to show businesses (company Directors) a simple and accurate index to know the effectiveness of their integrity risk program” noted Christopher, “so we developed the Integrity Risk Index™ (IRI). The IRI is a calculation within the software platform that provides a live and dynamic measure for companies to simply and accurately know the effectiveness of their integrity risk program. This can be used as a guide to improve compliance and employee engagement thereby increasing protection against integrity risk.”
“For the first time, businesses now have a total solution for bringing their integrity risk and compliance programs to life. The modules on offer enable any company to get up and running easily to strengthen their risk and compliance program. Importantly, this platform now provides organisations with a centralised and dynamic tool to engage people and identify integrity risks before they occur” said Darren.
A joint development software created by the founders of Startware Global and Core Integrity. Drawing on the combined experiences of working as corporate executives and integrity risk specialists, the founders created a centralised one-stop integrity risk platform offering companies and directors more visibility and protection from people related risks.
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About Startware Global
Startware Global partners with disruptive Software Startups to develop their business strategies and rapidly expand their global sales. Startware Global understands the need for Startups to quickly expand in overseas markets and has established a global sales network in key geographic locations focused on marketing and selling SaaS solutions.
About Core Integrity
Core Integrity is a specialised integrity risk management company that works with some of Australia’s largest, and most respected companies across the corporate, government and sporting sectors. Core’s mission is to help companies protect their people, reputation and bottom line. Their fresh and innovative approach to integrity risk where they place people at the centre of everything they do has been quickly embraced by their clients and extended network.