Failure To Adapt
A large, “household-name” direct selling company found itself lagging behind the changing trends in technology – a development that nearly brought the company to its knees. Represented by hundreds of thousands of contractors around the globe, the company was unprepared to deal with an endless barrage of criticism, levied by both field interests and regulatory bodies, and traveling at lightning speed through the advent of the internet and social media.
In an attempt to find the quickest path to mitigate its reputational challenges, the company’s leadership developed a compliance department and added a robust headcount to support it. Soon, the department employed 11 well-paid, dedicated staff members who spent their days engaged in menial activities – like “googling” the company’s name — for compliance-related keywords.
Faced with continually rising costs and the leadership team’s inability to envision a complete picture of cases in the field, several employees were laid off, hired, and laid off again, ultimately exposing the company to an ever-increasing number of compliance issues.
Analyze The Problem
Upon its engagement, Momentum Factor conducted a thorough examination of the company’s current risk mitigation efforts. It soon became evident that the company’s risk mitigation profile could be managed by Momentum Factor’s signature FieldWatch™ compliance monitoring and management solution.
Compliance Automation Software
FieldWatch works by automating the most tedious aspects of a company’s healthy compliance function, freeing up personnel to define and strategize procedures to streamline a company’s response to reputational risks.
With the help of FieldWatch, Momentum Factor helped the company dramatically improve its monitoring process and focus on their field – with less risk. By shifting its human resources to case management, education, and field training, Momentum Factor reduced the cost of the company’s compliance, all while minimizing compliance risk. Now, the company was able to determine the time it took to resolve incidents, and the number of high-risk cases versus low-risk cases, all through the power of FieldWatch analytics.