- Corporate Security
- Governance, Risk and Compliance
- Information Security
As a family-owned company, Alltech prides themselves on their ability to adapt quickly to emerging customer needs and to stay focused on innovation. The company has grown through mergers and acquisitions, while increasing their global reach through sales, and expanding across the supply chain from additives to feed companies, shifting their business model from strictly business-to-business to include business-to-consumer. Their continued growth required them to be more proactive regarding their risk management.
Alltech recognized it would be challenging to update their risk management alone, so they connected with Satarla, a risk management consultancy firm that specializes in helping organizations make better decisions through a simple but scalable approach to risk management.
To learn more about how Alltech reframed risk management in their organization, we sat down with Geoff Parkin, Compliance and Risk Manager at Alltech and Ollie de Boer, Software Lead at Satarla.
Prior to beginning their work with Satarla, the consensus at Alltech was that risks were largely threats to the business. Their goal was to shift this perception, so risks are also seen as an opportunity, especially regarding business growth.
Working closely with Satarla, Alltech started to roll out an updated enterprise risk management framework globally. A series of workshops across their different regions helped change the way Alltech’s teams’ thought about risk. The secret to the success of these sessions is that they are not typical. They are interactive and hands-on, increasing participant buy-in. After the session’s participants leave with practical, easy-to-use tools and techniques that they can, and have, embedded in their respective teams.
“The goal and outcome of these sessions have been that we are facilitating our team’s ability to problem solve. This has helped us to enrich the risk culture within the organization while ensuring consistency across the organization,” said Geoff Parkin.
Alongside these sessions, Alltech decided they would like to automate and improve the efficiency of their enterprise risk and incident management processes with a technology solution, and asked Satarla to support them.
Implementing a Technology Solution
Senior management, more specifically the CEO, wanted to be able to see a complete overview of the risk and incident management profile across the business. Their existing intake and reporting processes for risks and incidents included manual notes, email and SharePoint. While an electronic form made it possible for them to notify the team through email, they didn’t have the ability to manage actions; they were unable to manage or track what had happened.
Alltech envisioned a solution that would give their employees a simple way to log new risks and incidents by asking might it happen? (risk) or has it happened? (incident). Following a competitive tender exercise, run by Satarla, Alltech selected Resolver as their first-choice technology solution.
“I’d worked with Resolver in the past, so I knew what they were capable of. I was confident they would understand what Alltech was looking to accomplish and would help us get there,” said Ollie de Boer.
“Right from the start, we saw that Resolver’s software aligned with our approach and would help us improve our existing processes,’ said Geoff Parkin.
For Alltech, a single system that could capture all their risks and incidents as well as provide the workflow, actions and reporting was key.
“We wanted to make sure that users had a simple interface that allowed them to understand where they should be going and what the next step was. It was also very important for us to have a workflow that ensured that potential issues were escalated and handled according to protocol. Resolver has helped us shape decision making in the business by providing greater visibility of the risks in the business, so they are managed appropriately to avoid crisis.” Geoff Parkin, Compliance and Risk Manager, Alltech.