SAI360

Last updated

SAI360, formerly known as SAI Global, is a multinational company based in Chicago, Illinois, United States. SAI Global previously offered risk management services, quality assurance audits and certifications, auditor training, standards information services, and property services. SAI360 now provides ethics, governance, risk and compliance software and learning solutions. This encompasses modules for enterprise and operational risk management, IT security, internal audit and regulatory compliance, as well as learning management software, ethics and compliance training, and program development. [1]

Contents

History

SAI360’s roots extend back to 1922 with the formation of Australian Commonwealth Engineering Standards Association (ACESA) out of the need to protect workers’ lives through better industrial safety standards. Over the next 50 years, the association experienced growth and success, eventually becoming Standards Australia International Limited (SAI Limited), a leading standards development organization in Australia and beyond. [2]

In 2003, SAI Global was formed when Standards Australia sold off its commercial business. On December 17, 2003, SAI Global was floated on the Australian Stock Exchange with an initial shareholding of 40% retained by parent organization Standards Australia that was then progressively sold down to zero.

In 2009, SAI Global began a legacy of leading in EHS with the acquisition of Cintellate. [3] This laid the foundation for what would become the EHS component of the SAI360 platform. In 2012, with the acquisition of Compliance 360. SAI Global began offering compliance tools to stay ahead of the rapidly shifting regulatory landscape in U.S. healthcare.

In 2016, SAI Global acquired Modulo, bringing together risk and compliance with digital risk capabilities to help organizations manage cybersecurity, data privacy and GDPR compliance. [4] Later that year private equity firm Baring Private Equity Asia acquired SAI Global Group. [5]

In 2019, SAI Global launched the SAI360 platform and deepened its commitment to Integrated Risk Management by acquiring Strategic BCP Resilience One. [6]

In 2020, SAI Global expanded its capabilities in the financial services industry by adding a robust internal audit and regulatory compliance offering with the acquisition of BWise from Nasdaq. Here, SAI Global rounded out its capabilities in the Governance, Risk and Compliance space. [7]

In May 2021, SAI Global sold its Global Standards and Assurance practice to Intertek Group for A$855 million. [8] Following the sale, the Risk and Learning business rebranded as SAI360. This marked a significant milestone in the company’s journey, becoming a pure-play cloud software and content business across ESG, GRC, Learning, EHS and Sustainability.

Acquisitions

Awards Won

SAI360 has won several awards for its innovative learning modules, including:

Analyst Awards Won

Here are some analyst recognitions for SAI360:

Company News

In Spring 2024, SAI360 introduced the Ethics and Compliance Learning Maturity Model, a tool designed to evaluate the maturity level of an organization's compliance training program.

The model benchmarks a company's program against industry best practices and guidelines from the U.S. Department of Justice. Rather than solely aiming to control misconduct, the model advocates a data-driven, strategic approach to compliance training as a way to proactively manage risks.

By identifying areas for improvement, the Maturity Model allows organizations to enhance their training initiatives to better mitigate risks, cultivate an ethical culture, and ensure alignment with core organizational values. [19] The model represents SAI360's perspective on how compliance training programs should evolve beyond bare minimum legal compliance toward becoming an integrated risk management practice. [20]

In Spring 2024, SAI360 published a report on the annual benchmark survey conducted by Strategic Management Services, LLC, regarding the state of healthcare compliance programs in the United States. The survey analyzed current challenges faced by compliance programs, responses from organizations to these challenges, and trends observed over time. It also covered key areas like the culture of compliance, budget allocations, staffing levels, and the priorities of compliance offices. [21]

Related Research Articles

LexisNexis Risk Solutions is a global data and analytics company that provides data and technology services, analytics, predictive insights, and fraud prevention for a wide range of industries. It is headquartered in Alpharetta, Georgia, and has offices throughout the U.S. and in Australia, Brazil, China, France, Hong Kong SAR, India, Ireland, Israel, the Philippines, and the United Kingdom.

<span class="mw-page-title-main">SAS (software)</span> Statistical software

SAS is a statistical software suite developed by SAS Institute for data management, advanced analytics, multivariate analysis, business intelligence, criminal investigation, and predictive analytics. SAS' analytical software is built upon artificial intelligence and utilizes machine learning, deep learning and generative AI to manage and model data. The software is widely used in industries such as finance, insurance, health care and education.

Capability Maturity Model Integration (CMMI) is a process level improvement training and appraisal program. Administered by the CMMI Institute, a subsidiary of ISACA, it was developed at Carnegie Mellon University (CMU). It is required by many U.S. Government contracts, especially in software development. CMU claims CMMI can be used to guide process improvement across a project, division, or an entire organization.

Wolters Kluwer N.V. is a Dutch information services company. The company serves legal, business, tax, accounting, finance, audit, risk, compliance, and healthcare markets.

Quality management ensures that an organization, product or service consistently functions well. It has four main components: quality planning, quality assurance, quality control and quality improvement. Quality management is focused not only on product and service quality, but also on the means to achieve it. Quality management, therefore, uses quality assurance and control of processes as well as products to achieve more consistent quality. Quality control is also part of quality management. What a customer wants and is willing to pay for it, determines quality. It is a written or unwritten commitment to a known or unknown consumer in the market. Quality can be defined as how well the product performs its intended function.

ISACA is an international professional association focused on IT governance. On its IRS filings, it is known as the Information Systems Audit and Control Association, although ISACA now goes by its acronym only. ISACA currently offers 8 certification programs, as well as other micro-certificates.

The Capability Maturity Model Integration (CMMI) defines a process area as, "a cluster of related practices in an area that, when implemented collectively, satisfies a set of goals considered important for making improvement in that area." Both CMMI for Development v1.3 and CMMI for Acquisition v1.3 identify 22 process areas, whereas CMMI for Services v1.3 identifies 24 process areas. Many of the process areas are the same in these three models.

Galvanize is a privately owned software as a service (SaaS) company founded and headquartered in Vancouver, British Columbia, Canada. The Company builds security, risk management, compliance and audit software for the governance, risk management, and compliance (GRC) market.

A chief information security officer (CISO) is a senior-level executive within an organization responsible for establishing and maintaining the enterprise vision, strategy, and program to ensure information assets and technologies are adequately protected. The CISO directs staff in identifying, developing, implementing, and maintaining processes across the enterprise to reduce information and information technology (IT) risks. They respond to incidents, establish appropriate standards and controls, manage security technologies, and direct the establishment and implementation of policies and procedures. The CISO is also usually responsible for information-related compliance. The CISO is also responsible for protecting proprietary information and assets of the company, including the data of clients and consumers. CISO works with other executives to make sure the company is growing in a responsible and ethical manner.

<span class="mw-page-title-main">Ivanti</span> American IT software company

Ivanti is an IT software company headquartered in South Jordan, Utah, United States. It produces software for IT Security, IT Service Management, IT Asset Management, Unified Endpoint Management, Identity Management and supply chain management. It was formed in January 2017 with the merger of LANDESK and HEAT Software, and later acquired Cherwell Software. The company became more widely known after several major security incidents related to the VPN hardware it sells.

Environment, health and safety is an interdisciplinary field focused on the study and implementation of practical aspects environmental protection and safeguard of people's health and safety, especially at company level and in an occupational context. It is what organizations must do to make sure that their activities do not cause harm. Commonly, quality - quality assurance and quality control - is adjoined to form a company division referred to as HSQE or equivalent initialisms.

Software asset management (SAM) is a business practice that involves managing and optimizing the purchase, deployment, maintenance, utilization, and disposal of software applications within an organization. According to ITIL, SAM is defined as “…all of the infrastructure and processes necessary for the effective management, control, and protection of the software assets…throughout all stages of their lifecycle.” Fundamentally intended to be part of an organization's information technology business strategy, the goals of SAM are to reduce information technology (IT) costs and limit business and legal risk related to the ownership and use of software, while maximizing IT responsiveness and end-user productivity. SAM is particularly important for large corporations regarding redistribution of licenses and managing legal risks associated with software ownership and expiration. SAM technologies track license expiration, thus allowing the company to function ethically and within software compliance regulations. This can be important for both eliminating legal costs associated with license agreement violations and as part of a company's reputation management strategy. Both are important forms of risk management and are critical for large corporations' long-term business strategies.

<span class="mw-page-title-main">BSI Group</span> British standards development organization

The British Standards Institution (BSI) is the national standards body of the United Kingdom. BSI produces technical standards on a wide range of products and services and also supplies certification and standards-related services to businesses.

Information security management (ISM) defines and manages controls that an organization needs to implement to ensure that it is sensibly protecting the confidentiality, availability, and integrity of assets from threats and vulnerabilities. The core of ISM includes information risk management, a process that involves the assessment of the risks an organization must deal with in the management and protection of assets, as well as the dissemination of the risks to all appropriate stakeholders. This requires proper asset identification and valuation steps, including evaluating the value of confidentiality, integrity, availability, and replacement of assets. As part of information security management, an organization may implement an information security management system and other best practices found in the ISO/IEC 27001, ISO/IEC 27002, and ISO/IEC 27035 standards on information security.

A talent management system (TMS) is an integrated software suite that addresses the "four pillars" of talent management: recruitment; performance management; learning and development; and compensation management.

<span class="mw-page-title-main">NIIT</span> Indian corporation

NIIT Limited (National Institute of Information Technology) is an Indian multinational skills and talent development corporation headquartered in Gurgaon, India. The company was set up in 1981 to help the nascent IT industry overcome its human resource challenges. NIIT offers training and development to individuals, enterprises and institutions.

Plateau Systems is a provider of Talent Management Systems headquartered in Arlington, Virginia, with offices across the United States, Europe, and Asia Pacific. The company provides SaaS products that allow organizations to develop, analyze, and manage organizational talent.

<span class="mw-page-title-main">Moody's Analytics</span> Analytics and financial services company

Moody's, previously known as Moody's Analytics, is a subsidiary of Moody's Corporation established in 2007 to focus on non-rating activities, separate from Moody's Investors Service. It provides economic research regarding risk, performance and financial modeling, as well as consulting, training and software services. Moody's is composed of divisions such as Moody's KMV, Moody's Economy.com, Moody's Wall Street Analytics, the Institute of Risk Standards and Qualifications, and Canadian Securities Institute Global Education Inc.

RLDatix is a global enterprise software company offering software and services tailored to healthcare organizations. The technology platform is designed to support hospitals and other providers with risk mitigation, regulatory compliance, and workforce management resources.

Endpoint security or endpoint protection is an approach to the protection of computer networks that are remotely bridged to client devices. The connection of endpoint devices such as laptops, tablets, mobile phones, Internet-of-things devices, and other wireless devices to corporate networks creates attack paths for security threats. Endpoint security attempts to ensure that such devices follow a definite level of compliance to standards.

References

  1. ↑ "Home". SAI360. Retrieved 2024-04-25.
  2. ↑ "Our History | Standards Australia". www.standards.org.au. Retrieved 2024-04-18.
  3. ↑ "Cintellate sold for $14.1m". Business News. 2009-10-23. Retrieved 2024-04-18.
  4. ↑ "SAI Global Pty Acquires Modulo Security | Mergr M&A Deal Summary". mergr.com. Retrieved 2024-04-18.
  5. ↑ Mendoza, Carmela (2016-09-27). "Baring Asia wins SAI Global's support for A$1bn acquisition". Private Equity International. Retrieved 2024-04-18.
  6. ↑ "SAI Global and Strategic BCP ResilienceONE Deliver Market-Leading Integrated Risk and Business Continuity Management Solution". www.businesswire.com. 2018-02-08. Retrieved 2024-04-18.
  7. ↑ "SAI Global to Acquire BWise from Nasdaq". markets.businessinsider.com. Retrieved 2024-04-18.
  8. ↑ Carcano, Sonia (2021-05-19). "Intertek Group's A$855 Million Acquisition of Assurance and Standards Arms from SAI Global – Global Legal Chronicle" . Retrieved 2024-04-18.
  9. ↑ "STG Acquisition Of SAI360 Showcases Reliance On Risk Management Solutions During Turbulent Times". Default. Retrieved 2024-04-16.
  10. ↑ "SAI360's Acquisition Of Evotix Is A Statement Of Intent To Win Mid-Market Mindshare". Default. Retrieved 2024-04-16.
  11. ↑ "Evotix is acquired by SAI360 Inc". Frog Capital. 2023-04-27. Retrieved 2024-04-16.
  12. ↑ "SAI Global Ltd. Makes Acquisition | Quality Magazine". www.qualitymag.com. Retrieved 2024-05-15.
  13. ↑ "Anthem Awards: Finalists 2021". frosty-disk-b41d.theprojectsomething.com. Retrieved 2024-04-23.
  14. ↑ SAI360. "SAI360 and Colgate-Palmolive Take Home Multiple Brandon Hall Excellence Awards". www.prnewswire.com (Press release). Retrieved 2024-04-22.{{cite press release}}: CS1 maint: numeric names: authors list (link)
  15. ↑ Global, S. A. I. "Independent Research firm Names SAI Global platform a 2021 Green Quadrant 'Leader' in Environmental, Health and Safety (EHS) software". www.prnewswire.com (Press release). Retrieved 2024-04-23.
  16. ↑ "Global Corporate Survey 2022: EHS Software Brands Recognition". Default. Retrieved 2024-04-23.
  17. ↑ SAI360. "SAI360 Recognized in 2022 Now Tech Report for Third-Party Risk Management". www.prnewswire.com (Press release). Retrieved 2024-04-23.{{cite press release}}: CS1 maint: numeric names: authors list (link)
  18. ↑ "Now Tech: Third-Party Risk Management Platforms, Q1 2022". Forrester. Retrieved 2024-04-23.
  19. ↑ "SAI360's Ethics & Compliance Training Maturity Model". SAI360. Retrieved 2024-04-24.
  20. ↑ SAI3602023-12-06T17:02:00. "White paper: Maturity Matters: Is It Time to Advance Your Compliance Training Program?". Compliance Week. Retrieved 2024-04-24.{{cite web}}: CS1 maint: numeric names: authors list (link)
  21. ↑ "Webinar: 2024 Compliance Benchmark Survey Results". Strategic Management Services, LLC. Retrieved 2024-04-25.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.