Home Back Issues February 2014 Risky business

Risky business

| Print |  Email
Articles - February 2014
Wednesday, January 22, 2014

0214 REBOOTBY JESSICA RIDGWAY

A promising merger. In 2012 Riverside Company, a private equity firm based in Cleveland, purchased EthicsPoint, a Lake Oswego ethics-reporting business, and merged the company with three similar enterprises: ELT, Global Compliance and PolicyTech. Keeping the businesses headquartered in Oregon, the new entity rebranded as NAVEX Global. The firm now ranks as one of Oregon’s largest software companies, providing clients with governance, risk and compliance solutions. These include hotline reporting, automated policy management and third-party risk management. In plain English, NAVEX Global helps companies protect their brands, monitor employee behavior and ensure compliance with government regulations. Says Shanti Atkins, president and chief strategy officer of NAVEX Global: “We help protect people, reputations and bottom lines.”

Reputation management. The company’s growth is fueled in part by changes in the way companies do business. According to Interbrand, a global branding consultant, 95% of an average company’s worth was tied up in physical assets in 1970. Today 75% of the average company’s worth is intangible. That’s where NAVEX comes in — the firm provides solutions that enables companies to protect those assets. “We’re seeing more and more boards and C-level executives identify the need to protect the intangible asset of their reputation through our solutions and products,” Atkins says. She cites as an example the 2010 British Petroleum oil spill, where BP was excoriated for an explosion that actually occurred aboard a third-party contractor, Deepwater Horizon. With products like NAVEX’s new third-party risk management staffing solution, a company can organize its supply chain and ensure the suppliers follow a certain code of conduct, mitigating risks for the contracting organization.

Profiting as one. A powerhouse in the governance, risk and compliance (GRC) industry, NAVEX serves more than 8,500 clients representing 40 million employees worldwide. Clients range from small, private businesses to Fortune 500 companies, and the firm employs 449 people worldwide, 169 in Oregon. This past year, the company opened an office in London to better serve its clientele in the European Union, the Middle East, Africa and Asia. In 2013 NAVEX earned annual revenues of approximately $100 million and aims to double that in a few years.

A prosperous future. Riverside Company will sell NAVEX Global “when it makes the most sense,” Atkins says. In the meantime, NAVEX Global plans to acquire more companies that align with its vision. The company also hopes to profit by “cross-selling” its software to current clients, a growing number of which view ethics and compliance programs as a core business practice. “We are in an era where we are migrating from thinking about ethics and compliance programs and departments as a cost center, but central to business value,” says Atkins. An expanding company taps into an expanding market: It’s a time-honored strategy NAVEX hopes will yield big dividends. 

Clarification:  This article has been altered to reflect the following clarifications. Riverside did not rebrand NAVEX Global; the leadership of the newly formed entity rebranded as NAVEX Global. NAVEX Global does not act as "a kind of security guard;" instead, the company's software enables companies to protect their tangible and intangible assets.

 

More Articles

A Good Leap Forward

September 2014
Wednesday, August 27, 2014
BY AMY MILSHTEIN

Agriculture businesses ramp up to meet international demand as workforce and succession challenges loom.


Read more...

Buyer's Remorse

September 2014
Tuesday, August 26, 2014

Parents and students paying for college today are like homeowners who bought a house just before the housing bubble burst.


Read more...

October surprise

News
Sunday, October 12, 2014
roundup-logo-thumb-14BY LINDA BAKER

Cylvia Hayes, tabloid vs. watchdog journalism and the looming threat of a Cascadia earthquake.


Read more...

Gone Fishing

October 2014
Thursday, September 25, 2014
BY LORI TOBIAS

Business has been good to Laura Anderson, leading some to suggest she must be awfully lucky to find such success in a business notorious for failure. But luck’s had little to do with it.


Read more...

Podcast: Testing for Emotional Intelligence with John Hersey

Contributed Blogs
Friday, September 19, 2014
ivbU3sIXBY TOM COX | OB BLOGGER

How can you tell if you, a peer, a subordinate or a job candidate has the emotional intelligence needed to do well?


Read more...

Launch

September 2014
Tuesday, August 26, 2014
BY JESSICA RIDGWAY

September's Launch article features Orchid Health, BuddyUp and Inter-Europe Consulting.


Read more...

Fork & Bottle

October 2014
Thursday, September 25, 2014

National media can’t get enough of Oregon’s pinot noir, artisan-food purveyors and lively, independent film scene.


Read more...
Oregon Business magazinetitle-sponsored-links-02
SPONSORED LINKS