DENVER, Nov. 14, 2018 — Convercent, the leading provider of ethics and compliance software, today announced the launch of Convercent Benchmarking, as well as enhanced data analytics capabilities for the Convercent Insights platform. Convercent Benchmarking enables companies to evaluate their ethics performance based on industry-wide data updated in real-time, fulfilling a vital, unmet need for modern businesses. Combined with the ability to integrate critical data to better understand overall ethics performance, these new technologies allow business leaders to more effectively drive ethics to the center of business.
The business world is undergoing a massive ethical transformation at a scale never before seen. The world is holding business leaders to a higher standard, and ethics and values are more critical than ever to long-term, sustainable business success. However, technology providers have failed to support this transformation. Convercent is committed to providing business leaders with the innovative technology they need to measure, monitor, and improve ethics performance in this new world of corporate accountability. The addition
of Benchmarking to Convercent’s product suite represents an industry-first: the ability to instantly evaluate a company’s ethics performance against its peers, the industry at-large, and the broader corporate world.
“At Kimberly-Clark, we are proud of our reputation for high ethical standards. To maintain – and strengthen – Kimberly-Clark’s integrity culture, our ethics and compliance program’s mission is to engage leaders and help them deliver results the right way. We use data to understand and prioritize our top issues so that the business can focus on what matters most,” said Kurt Drake, Chief Ethics and Compliance Officer at Kimberly-Clark. “Convercent Benchmarking allows us to see how our ethics and compliance program is performing and to compare across industries. This means we can make smarter, more proactive decisions, continuously improve our program, and help the business deliver results with integrity.”
Convercent Benchmarking replaces the current industry status quo of static, outdated benchmarking PDFs with real-time, self-service data analysis. The Benchmarking application aggregates data from all of Convercent’s customers worldwide to allow evaluation of ethics performance against industry and global trends, which provides customers with the societal context to support their representations to their boards. Customers can finally uncover and understand whether a trend is isolated to their organization or whether it is being driven by external factors. Furthermore, customers can use benchmarking to pinpoint emerging trends even before their organization has experienced them, enabling them to be truly proactive with their program.
In addition to Benchmarking, Convercent also announced significant data analytics enhancements to Insights that give companies unprecedented visibility into their overall ethical health. Rooted in the knowledge that ethics can’t exist in a silo, the newly expanded platform allows companies to integrate critical ethics data from across the entire organization. Convercent’s customers can customize their dashboard, filter through data to reveal pertinent trends, and easily evaluate internal ethical performance against a variety of enterprise functions. Now customers can communicate with their peers in business value terms, leaving behind the tired old compliance metrics that have encumbered this profession for years.
“The era of protecting your brand at all costs is over. Ethical transformation has given rise to a new era — one in which pushing your brand forward and tying ethics directly to business performance is the path forward,” said Patrick Quinlan, CEO and co-founder of Convercent. “Successful ethics and values can’t exist in a vacuum and neither can your data. We’ve designed Benchmarking and Insights to translate the thousands of everyday decisions, interactions, and transactions that make up ‘ethical health’ into proactive, predictive, intelligence.”
The new product offerings come on the heels of significant company growth in 2018. The company’s executive team grew with the key additions of Jon Kalstein, VP of Finance & Accounting; Stewart Maurer, VP of Marketing; Patti Saunders, VP of Customer Success; and Scott Schell, EVP of Engineering & Product. The company also acquired over 100 customers across a variety of different industries, and recently relocated to a new HQ in the RiNo district of Denver.
As a leading global provider of ethics and compliance software, Convercent weaves ethics and values into everyday operations at some of the world’s largest and most admired companies. Its Ethics Cloud Platform, which includes a suite of applications including Convercent Insights, Convercent Helpline, Convercent Campaigns, Convercent Disclosures and Convercent Third Party, leverages a global dataset to deliver business leaders the insights required to make proactive, informed decisions about their company’s ethical health. Companies use Convercent to engage with employees, understand organizational risk and create opportunities for stronger, sustained business performance.
Convercent has over 600 global customers including Microsoft, Four Seasons Hotels and Resorts, Capgemini and Under Armour. Customers span all industries, regions and sizes and represent a growing breed of business leaders who care deeply about driving ethics to the center of their organizations. Convercent is based in Denver, CO, with an international office in London. The company is backed by Sapphire Ventures, Tola Capital and Azure Capital Partners.