Company Overview
Beam Global Services has the singular goal of helping clients get the most out of their investments in Governance, Risk & Compliance (GRC) products by taking care of all application support needs and providing expert guidance on maximising ROI.
Constructing a best-in-class global procurement
Due to an increase in regulatory requirements over the last 20 years, large and mid-size companies have made significant investments in GRC applications – the term GRC can refer to applications which help clients track and review status of various risk assessments or compliance programmes and can also refer to specialised applications that cater to very specific risks (e.g. ERP security and controls). These projects incur large capex investments which provide business benefits via ease of compliance management and automation of key control activities.
- However, these applications require specialised in-house resources who act as administrators or support staff which adds annual operational expenditure.
- Also, given the specialised nature of these applications, the audit and control teams rarely have the bandwidth to utilise the functionality available – a lot of times, these applications aren’t utilised effectively and there is a degeneration of processes leading to wasted manual effort in using them for compliance purposes.
- Eventually, clients do not realise expected ROI from these business investments which directly impacts their annual compliance and audit programmes.
The GRC Product Company Problem: Client Retention
GRC product companies make huge investments in their Engineering teams to build the best possible products for their client needs. The core business for these companies involves creating products that satisfy client GRC use cases in the best possible way – since these products are used for critical audit and compliance programmes, there is no leeway for product issues to surface during key points of the audit timetable.
- Often, unskilled client staff who don’t come from a risk and compliance background become client administrators which results in ineffective outcomes from an audit perspective.
- If client users don’t use the GRC product effectively over a period of time, product usage drops which eventually results in senior executives unsubscribing from the product subscription.
- Customer retention in the face of intense competition is a major challenge for GRC product companies.
How does Beam Global Services help?
We have a specialised team of GRC experts who help clients by:
- Providing application managed services for GRC products by using technology to drive cost efficiencies,
- Providing specialist risk management advice on how to make the most of your existing GRC investments by maximising automation in your control procedures,
- Working closely with your Audit, Finance and IT teams to improve implementation of business controls.
We partner with GRC product companies as Managed Services Partners and help them with client retention in the following ways:
- Provide top-class managed services and support solutions which help the clients get maximum value from their GRC product investments,,
- Have quarterly business reviews with clients demonstrating benefits of using the GRC products,
- Helping clients understand new functionality introduced by the product company via periodic Release Notes.
Vision and Values
Vision:
Help clients maximise ROI from their investment in GRC products by providing best-in-class managed services.
Core Values:
- Excellence in service for clients and partners.
- Do whatever it takes to help clients run successful audit and compliance programmes.