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|Articles - February 2014|
|Wednesday, January 22, 2014|
BY 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.
Wednesday, August 19, 2015
BY CHRIS NOBLE
Oregon is home to an abundance of gritty warehouses reborn as trendy office spaces, as well as crafty hipsters turned entrepreneurs. Does the combination yield an equally bounteous office products sector? Not so much. Occupying the limited desk jockey space are Field Notes, a spinoff of Portland’s Draplin Design Company, and Schuttenworks, known for whittling Apple device stands. For a full complement of keyboard trays, docking stations and mouse pads, check out the GroveMade line, guaranteed to boost the cachet of even the lowliest cubicle drone.
Monday, September 28, 2015
BY AMY MILSHTEIN
To attract technology companies, the U.S. Bancorp Tower repositions itself as open, light and playful.
Thursday, August 06, 2015
Car and ride sharing services have taken urban areas by storm. Low-income and suburban communities are left at the curb.
Monday, September 28, 2015
BY JACOB PALMER
“There wasn’t a reason shaving with a straight razor should have been taken over by shaving with disposable razors.”
Monday, September 28, 2015
BY KIM MOORE
A conversation with Jonathan Bennett, managing partner at law firm Dunn Carney Allen Higgins & Tongue.
Thursday, August 27, 2015
BY LINDA BAKER
How do you put a baby on the cover of a business magazine without it looking too cutesy?
Friday, August 21, 2015
Renee Spears, founder and owner of Portland-based Rose City Mortgage, is hot to trot to sell pot.
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Promoting from within its own ranks, PacificSource Health Plans has tapped Tony Kopki to head its commercial lines of business in Oregon, Idaho and Montana. In his new role as Vice President of Commercial Programs, Kopki will provide strategic, product and market leadership for PacificSource’s commercial programs.
Thomson brings 25 years of healthcare experience in provider relations, sales, marketing and communications.