Hitec Laboratories (Hitec), a leading provider of Governance, Risk and Compliance (GRC) and Enterprise Content Management (ECM) software solutions, are working closely with their partner, Trinidad based Savannah Computing (Savannah), to ensure clients throughout the Caribbean achieve and maintain compliance in an increasingly regulated environment.
The increasing demands of statutory and regulatory legislation indicate that all organisations face a tidal wave of compliance requirements. This includes Banks, Insurance Companies, Financial Institutions and Energy Companies who are regulated by the statutory bodies such as the Central Bank and the Securities & Exchange Commission and who are subject to increasing pressure from Government Legislation and International Regulators. These regulatory controls reflect the importance of good governance given the financial disasters that have occurred during the 2008-2010 period.
Award winning PolicyHub, Hitec’s Policy Lifecycle Management solution, is part of Savannah’s strategically focused range of Information Technology options. PolicyHub provides organisations in both the Financial and Energy Sectors the ability to evidence beyond doubt, to Regulators, Auditors, and Board of Directors that Statutory Compliance & Internal Operating Procedures are accurately deployed, communicated and implemented.
The Energy Sector has long been important to the economy of Trinidad & Tobago, accounting for approximately 50% of the country’s GDP, and represents over 90% of the country’s export earnings. The international oil and gas companies have introduced stringent rules regarding all Health & Safety and environmental issues in all aspects of exploration and production both locally and internationally.
Hitec’s experience in the GRC marketplace complements Savannah’s extensive involvement in the expansion of PolicyHub in the Caribbean, supporting organisations in the Financial and Energy Sectors including Government agencies. Savannah continues to offer first class consulting services to institutions seeking better regulatory control.
Mike Adams, Senior Vice President, Hitec North America comments: “We are delighted to be working closely with Savannah. PolicyHub is the link in the compliance process, complementing Savannahs other solutions. Compliance monitoring is central to providing assurance to senior management that the business is adequately managing its regulatory risk exposure and that controls and Policies are in place to manage these risks effectively.”
Donald Kelshall, Managing Director, Savannah Computing says: “We are pleased to lead with the launch of Hitec’s PolicyHub, the ‘Policies & Procedures Management’ application in the Caribbean. PolicyHub is much needed in our Business Community in the Caribbean if we are to meet the new International standards Compliance.”
Donald continues by saying: “PolicyHub gives users a truly flexible and effective solution. Firstly by communicating Policies and ensuring response based acceptance, but more importantly by delivering the compliance reporting and assurance needed to satisfy the Auditors, external Regulators and the Boards of Directors.”
About Hitec Laboratories
For more than 20 years Hitec Laboratories has been helping Customers in the Financial, Commercial and Public/Government Sectors to address some of their most pressing business and operational challenges. Hitec solutions span Governance Risk & Compliance (GRC) and Enterprise Content Management (ECM), enabling organisations to reduce costs, increase efficiency, ensure compliance and protect against risk. Today, Hitec enjoys a large blue chip Customer base in over 30 Countries worldwide.
Hitec’s overriding belief in collaborating with Customers and Partners, has led to its rapid expansion, both organically and by acquisition. Their longstanding Customers of fifteen years or more are testament to their passion for partnership and desire to provide businesses with credible, tested software solutions which are continually evolving.
Hitec’s integrity is highlighted by the relationships they develop with their Customers and Industry Leaders and they continue to inspire and challenge the market as well as offering presentations and articles which aim to cultivate a co-operative business environment.
About Savannah Computing
Savannah Computing was established in 1992 to provide Information Technology consultancy and support to the business community in Trinidad & Tobago and the Caribbean.
Savannah Computing is the authorised Caribbean distributor for a number of internationally acclaimed business management products such as DataStoreDSX, Infor SunSystems, eRemit and BankFusion just to name a few. Savannah also offers comprehensive support, consultancy, training and project management services. With over 20 years of experience, Savannah has the knowledge and experience to cater to all of your business management solution requirements
Through their experience and commitment, they are able to harness the benefits of Information Technology for their clients, and deliver cost effective advice and solutions. Contact Savannah to find out more.