When I first started my career working in a leading multinational company, I noticed that there were an incredible number of unreported issues related to compliance, abuse of authority, and harassment that could have been easily avoided if they had been reported.
I was then faced with another hurdle after speaking to people that were victims of such incidents; they were all afraid to speak up in fear of loosing their jobs. There were a lot of process issues and misuse of company assets and resources that could have also not just been avoided but actually saved the company millions of dollars.
I then decided to write down some of these issues on a piece of tissue and then developed that tissue paper into a smart platform that makes it easy and safe for the reporter yet very smart and comprehensive for the management to detect, handle and analyze their cases.
It is estimated that companies in the MENA region lose a median of $186,000 in annual revenues for each fraud case, according to the ACFE report in 2022. It is estimated that organizations lose 5% of revenue to fraud each year.
The number one reason why employees do not report cases is the fear of retaliation. Especially in most cases, their direct manager is the one committing these unwanted behaviors. Therefore, companies have been striving and longing for a solid, credible, and transparent platform that allows employees to report misconduct and undergo investigations/chat with the investigator anonymously.
Moreover, the middle eastern culture lacks awareness and education on this topic as it is stigmatized globally.
The global whistleblowing software market size was valued at USD 96000.0 million in 2021 and is expected to expand at a CAGR of 8.66% during the forecast period, reaching USD 158000.0 million by 2027.
The Compliance Management Software Market size was valued at $32.1 Billion in 2020 and is projected to reach $74.8 Billion by 2028, growing at a CAGR of 10.9% from 2021 to 2028.
A compliance and ethics platform can help ensure that an organization operates within the law and stays true to its own ethical principles that are important to the company’s business and identity.
A strong ethical standard in the workplace helps to create strong working relationships between the staff and management. It reduces employee turnover, improves morale, and has a positive effect on productivity.
Whistle-blowing has been known as one of the most efficient tools for detecting cases.
Over 42% of detected cases were done through individual tips within the organization.
Benefits of Compliance Platforms:
- Save the Company significant financial losses
- Protect the company’s reputation and brand equity from any negative publicity
- Become more attractive to investors toward the business.
- Provide a competitive advantage in terms of customers.
- Foster a culture of compliance
- Protect and prevent unwanted incidents from happening in the first place
- Build Customer Loyalty.
- Avoid Legal penalties.
- Retain Good Staff and attract talents
Compliance continues to emerge as a top business priority for 2023. There will be several trends that further reinforce the data’s value.
iVoiceUp is the latest trending digital reporting tool for any organization, regardless of its size.
We work with companies starting from 50 employees to 70K + employees. The same goes for the agility to adapt to any sector. We work with the largest FMCGS in the region, Banks, Governmental Entities, Pharmaceutical companies, and many more.
iVoiceUp is a smart yet easy platform providing management with in-depth analytics over their organization with one click of a button.
In a nutshell, iVoiceUp is a case management platform for your employees or any of your other stakeholders, whether suppliers or customers, to safely report any case of misconduct, fraud, harassment, or embezzlement or even log in a suggestion that could ameliorate the business and improve your work from any place just by scanning a QR code or weblink tailored for your company.
iVoiceUp empowers senior management to detect, handle and analyze misconduct and unethical cases. Hence we foster a culture of compliance, and we guarantee employees’ productivity by creating a safer and happier workplace.
We also work at bank-level security and are up-to-date with state-of-the-art measures to protect our client’s data from any potential breach (SSL, End-to-End Encryption, Throttling Mechanisms…etc.) Additionally, we incorporate various controls within iVoiceUp to protect the confidentiality of your data by avoiding accessible data trails. This includes but is not limited to Two Factor Authentication, Access Control Lists, and Internal Restricted Access.
As the first whistleblowing platform in the Middle East, our goal was to provide an easy-to-use, safe, and secure service. Today, more than that, we offer customizable solutions and work as partners with our clients for more ethical workplaces. To date, we have empowered 465K employees and prevented 7M USD worth of losses. As pioneers in the region, we have a unique understanding of the social and cultural context. We grasp the importance of protecting both informants and the companies they are affiliated with.
If you see something out of place or would like to contribute to this story, check out our Ethics and Policy section.