We recommend Strytex because this time last year, we weren’t sure which compliance certificates we had, which had expired, and which were missing. We now know exactly how compliant we are. Strytex solves two big problems; supplier auditing and lack of visibility. We now audit our staff, properties and suppliers daily and the dashboard highlights any non-compliance, so we can address the problem instead of drowning in paperwork.
Rebecca Daley
Strytex was introduced by our service provider to provide oversight of our building compliance across the portfolio. It solved three key problems for us; transparency across our portfolio of over 200 properties from a compliance perspective; exception reporting that tells us exactly which properties are due I overdue for compliance inspections and assists our service providers in being proactive instead of reactive.
Charlie Ginty
Strytex offered an immediate appeal as a user-friendly platform to get started and then develop our compliance system. It gave us a structure to break down a daunting task into manageable steps, providing some quick wins. I was particularly attracted by its application as a registry for policies, and it is now helping us to enhance our policy coverage and review processes.
Lindsay Foster
Having been in that uncomfortable position in my early FM days, where you have an H&S inspector in your office demanding compliance documents, I know the benefits of a SSOT offering and would highly recommend you engage with one now. It will save you hours of stress and sleepless nights should you ever have a HSE visit your office.
Philip Turner
By Size Of Business
Strytex provides B2B services to both sides of the buyer/supplier relationship so our Members range from multi-billion global corporates to mom and pop businesses and sole traders.
Sole traders, micro and small business
SMEs represent over 90% of the business population, 60-70% of employment and 55% of GDP in developed economies.
Most sole traders, micro and small businesses only need to store compliance certificates and share them with their clients so they only need the FREE SSOT product to manage their internal compliance documents.
Where small businesses are in heavily regulated industries like
- Hospitality
- Childcare
they often choose to subscribe to the MISSOT service for both internal compliance and external compliance.
| Internal Compliance | External Compliance | |||
|---|---|---|---|---|
| MISSOT | ISSOT | SSOT | MISSOT | |
| Sole traders, micro and small business | For heavily regulated industries | Most popular | For heavily regulated industries | |
Medium businesses or teams within a large business
Most medium sized businesses are not large enough to have staff with the skills to manage compliance matrices and keep docs up to date. For these businesses the MISSOT service is the most popular solution.
Teams within large businesses or corporates may have a very specific compliance focus, e.g
- Facility Managers Property and contractor compliance
- Finance Supplier insurance
- Procurement Supplier and supply chain compliance
Again the MISSOT service is the most popular.
The ISSOT solution is only applicable for businesses with large numbers of administration staff with subject matter experts in relevant areas of compliance, e.g. food safety, HR etc.
| Internal Compliance | External Compliance | |||
|---|---|---|---|---|
| MISSOT | ISSOT | SSOT | MISSOT | |
| Medium business | Most popular | Expert only | Most popular | |
| Team | Most popular | Expert only | Most popular | |
Large and corporate businesses
The MISSOT is the most popular for large and corporate business because compliance administration is not their core business but it costs 6.24% od employee expenses.
They like the MISSOT managed service for the benefits it provides
- Reduced costs
- Transparency
- Exception reporting
The MISSOT managed service allows large and corporate businesses to focus on their business, not the paperwork.
| Internal Compliance | External Compliance | |||
|---|---|---|---|---|
| MISSOT | ISSOT | SSOT | MISSOT | |
| Large business | Most popular | Most popular | ||
| Corporate | Most popular | Most popular | ||
By Job Title
Governance Risk and Compliance solutions by job title are by far the most important factor. We have worked with procurement managers, facility managers, contract managers, WHS manager, quality managers and many more across multiple industries. People working in these professions face similar issues, problems and pressures no matter what industry they are working in.
Based on years of experience and feedback from clients, we’ve mapped our compliance control matrices to each job title and have developed the following table.
| Internal Compliance | External Compliance | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Company | Staff | Property | Assets | Products | Projects | Company | Staff | Property | Assets | Products | Projects | ||
| Board Member/Director | |||||||||||||
| Business/Office Manager | |||||||||||||
| Contract Manager | |||||||||||||
| Facility Manager | |||||||||||||
| HR Manager | |||||||||||||
| Internal Auditor | |||||||||||||
| OHS Manager | |||||||||||||
| Procurement Manager | |||||||||||||
| Quality Manager | |||||||||||||
| Risk Manager | |||||||||||||
| Supply Chain Manager | |||||||||||||
Board Member/Director
Pretty much has to be aware of all risk and compliance
Business/Office Manager
In a small or medium sized business, generally responsible for all compliance issues
Contract Manager
Depending on your business, they may be responsible for the compliance of all suppliers and products under formal contracts
Facility Manager
The Facility Manager has to ensure the property is compliant, the products installed in the property are compliant and that all work carried out by staff and contractors is carried out by suitably qualified people using compliant equipment
HR Manager
Internally focused, ensuring staff are qualified and compliant to do their jobs
Internal Auditor
Need to be able to audit compliance across everything
OHS Manager
Is responsible for the safety of everyone on site, whether they are staff, contractors, sub-contractors, visitors, students, etc
Procurement Manager
Their focus is generally on supplier compliance and ensuring that the products and services purchased comply to requirements
Quality Manager
Generally focussed on product compliance
Risk Manager
Risk comes in all shapes and sizes
Supply Chain Manager
Same as the Procurement manager but needs to ensure sub-contractors and sub-suppliers right down the supply chain are compliant
By Industry
Hi, I only put this bit in because almost every business segments their markets by industry. That’s great if you have industry specific solutions but we don’t. GRC (Governance, Risk and Compliance) is relevant across all industries big and small.
Facility managers across all industries are facing the same GRC issues.
Procurement managers across all industries face the common GRC issues
Internal auditors grapple with similar GRC problems.
If you are a facility manager in the mining industry, would you ask an HR manager in the same industry for advice on how to manage property compliance, or would you ask a facility manager in another industry?
Our solutions are focussed on professions (job title) because that’s the best way of addressing shared professional compliance issues. I learnt very early on that compliance is a people problem so we focus on people and their issues, not industries.
Nigel Dalton-Brown
Founder
Strytex
Costs And Risks Of Non-Compliance
The COMPLEXITY of compliance
According to the Deloitte report “Get out of your own way. Unleashing Productivity”, Nov 2014, “we don’t even know how many government bodies there are that can set rules in the first place, let alone the number of rules those agencies have laid down…….Yes, that’s right – we can’t even count the rule-makers, let alone the rules.”
Strytex reduces the complexity by creating a Managed Intelligent Single Source of Truth (MISSOT) for each business to help them keep track of their hundreds or thousands of compliance documents.
The COST of compliance
Compliance is a costly, mind‑numbing, never-ending, soul-destroying task. It’s generally spread out piecemeal across an organisation, so no one really knows how much it costs.
Deloitte Access Economics estimates that rules and regulations cost Australia $249 billion per year, every year, of which, 20% is spent on administrative costs. According to the Deloitte report, “Get out of your own way”, Nov 2014, compliance administration has got so out of control that
- 1 in 11, or 9% of employed Australians now works in the compliance sector,
- Employees spend 8 weeks in every year administering and complying to compliance rules
- Senior executives and middle managers spend 8h54 mins every week complying with corporate rules they have set for themselves. Other employees spend 6hrs 36 mins every week on the same.
So we have highly skilled (expensive) managers across Finance, Legal, Accounting, HR, WHS, Facilities, Contracts, IT, Food Safety wasting eight valuable weeks a year time on mundane, administrative tasks. Imagine the benefit if they were spending those eight weeks a year on strategic and operational issues.
Working with Deloitte we calculated that Compliance Administration costs each business 6.24% of employee expenses, or if you manage a small team 12.5% of total salaries. Yes, all that time and money is spent on paperwork!
By outsourcing to Strytex, a central Business Process as a Service (BPaaS), you can significantly reduce your cost of compliance administration. Strytex reduces the cost by focussing on the low-level administrative tasks and doing them very efficiently.
The RISK of non-compliance
Through no fault of their own, most small, medium and even some large organisations can’t afford specialist compliance managers across all the main area of compliance, namely, WHS, food safety, facility management, purchasing, supply chain, IT etc. Now, if there is an event with a failure to comply with WHS legislation, senior managers, the Persons Conducting a Business or Undertaking (PCBU) may be prosecuted even if no-one is injured.
More often than not, non-specialist business managers and office managers are put in charge of compliance. Not only are these managers not formally trained in all areas of compliance, it’s very difficult for them to keep up to date, which is no easy task. These business and office managers often wear multiple hats so compliance (complex and costly) comes last or is ignored until it’s too late. This double whammy of over-regulation and lack of training puts the vast majority of small, medium and even large organisations at risk. With non-compliant suppliers and contractors, reputational and brand risk is also a factor.
The Business Council estimates Australia has “well over half a million pages of regulation”, but no-one knows just how many individual rules that really means. In fact, we don’t even know how many government bodies there are that can set rules in the first place, let alone the number of rules those agencies have laid down. Yes, that’s right – we can’t even count the rule-makers, let alone the rules! and that’s just part of the problem. According to Deloitte, government, be it federal, state or local, only accounts for 37% of the rules. The vast majority of the rules are self-inflicted! Industries and organisations are creating the policies and rules that are causing most of the red tape!
Strytex reduces risk by sharing practical information to help keep business managers up to date.
The Benefits Of BPaaS (Business Process As A Service)
Focus on core competencies
No lock in contracts
No software development costs
Elimination of persistent errors
Reduced operational costs
No software support costs
Increased organisational flexibility
Benefits Of Strytex
By providing a centralised outsourced service, Strytex
- Reduces cost by sharing the administrative costs.
Instead of every organisation chasing the same documents across multiple suppliers and contractors, Strytex does it once for the whole industry.
- Reduces risk by sharing information across job titles.
When we hear of something new, a change in the regulation or come across a really good way of doing things, we share it across the industry.
We will save you time, money and sanity. Sit back, relax and let us do all the hard work. Simply give us your documents and rules. We set everything up and keep everything up to date so you don’t have to.
All you need to do is log in to the portal to see who or what is non-compliant and then drill down to see why they are non-compliant. Oh yes, we also send you a monthly report.
You get a service not a product
A secure, managed, single source of truth (MASSOT)
Get rid of boring paperwork
Executive dashboard
100% supplier participation
Breadth of documents
You are in control
Document verification
As we grow larger and as governments and industries open up their databases. we will also develop automatic daily validation of licences. insurance etc.
Eliminate false positives
Benchmark reports
Customise your own SDS and PDS sub-libraries
Cloud benefits.
Savings Calculators
The hidden cost of compliance administration
These top down formulas are based on data developed with Deloitte Australia
- The first, based on total employee expenses from your annual report, calculates the hidden cost of compliance administration across your whole business.
- The second, based on salaries, allows you to calculate the hidden cost for a team or department”
Calculator 1: Based on total employee expenses
Calculator 2: Based on team salaries
- If we apply shading to differentiate the different sections there may be shading for the savings calculator
- Maybe we should add separator lines between the calculators?
| Number of staff in this bracket | Average annual salary | |
|---|---|---|
| Senior staff | ||
| Middle | ||
| Junior staff | ||
| Total |