Tag: Certa

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Innovation in Compliance

Innovation in Compliance – Jag Lamba on Simplifying Data Analysis with AI

Innovation comes in many areas and compliance professionals need to not only be ready for it but also embrace it. One of those areas is telehealth and telemedicine. My guest in this episode is Jag Lamba, founder and CEO of Certa.

Jag Lamba, the CEO and founder of Certa, is an engineering expert who has led his team in developing AI tools for streamlining procurement and compliance processes. Lamba’s perspective on these tools is that they are a game changer, particularly for non-procurement users who often struggle with navigating new tools and forms. To address this, Certa has integrated an email chat bot for request intake, making the process more user-friendly and familiar. Lamba believes that this approach will result in increased buy-in from business users and improved efficiency in procurement and compliance processes. His dedication to solving real problems with AI sets Certa apart as a leader in the industry. Join Tom Fox and Jag Lamba on this episode of Innovation in Compliance to learn more about Lamba’s innovative approach to streamlining procurement and compliance processes.

Key Highlights:

  • Streamlined AI Design with Natural Language
  • Enhancing Organizational Agility with Certa Assist
  • Instant Report Generation with Insights AI
  • Email Chat Bot for Simplified Request Intake

Resources:

Jag Lamba on LinkedIn

Certa

Tom

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Data Driven Compliance

Data Driven Compliance: Jag Lamba on Revolutionizing Procurement and Compliance Processes

Are you struggling to keep up with the ever-changing compliance programs in your business? Look no further than the award-winning Data Driven Compliance podcast, hosted by Tom Fox, This podcast features an in-depth conversation around the uses of data and data analytics in compliance programs. Data Driven Compliance is back with another exciting episode. Today, I visited Jag Lamba, founder and CEO of Certa, on Certa tools, which facilitate data-driven compliance.

Jag emphasizes the importance of solving real-existing problems with AI. Certa’s AI tools are designed to address tangible challenges faced by clients rather than being mere marketing buzzwords. Lamba highlights the increasing dynamism in procurement and the prevalence of supply chain disruptions, especially in the wake of the pandemic and geopolitical issues. The agility provided by Certa’s AI tools becomes crucial in such scenarios, enabling organizations to navigate these challenges effectively.

The impact of Certa’s AI tools goes beyond streamlining processes. Lamba emphasizes that digitization and automation not only enhance efficiency but also enable organizations to be more agile and responsive to changing requirements. By digitizing processes related to compliance, procurement, or environmental, social, and governance (ESG) initiatives, organizations can identify opportunities for improvement and drive better business processes and controls. This not only benefits the organization as a whole but also enhances the standing of the individuals responsible for managing these processes within the firm.

Resources:

Jag Lamba on LinkedIn

Certa

 Tom Fox 

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Compliance and AI

Compliance and AI: Jag Lamba – Certa’s AI Tools for Streamlining Procurement and Compliance Processes

What is the role of Artificial Intelligence in compliance? What about Machine Learning? Are you using ChatGPT? These questions are but three of the many questions we will explore in this exciting new podcast series, Compliance and AI. Hosted by Tom Fox, the award-winning Voice of Compliance, this podcast will look at how AI will impact compliance programs into the next decade and beyond. If you want to find out why the future is now, join Tom Fox on this journey to the frontiers of AI. Today, Tom hosts Jag Lamba, founder and CEO of Certa, on their new AI-based tool, Design AI.

In today’s rapidly evolving business landscape, organizations are constantly seeking ways to enhance efficiency and agility in their procurement and compliance processes. The emergence of artificial intelligence (AI) has provided new opportunities to streamline these operations and respond effectively to supply chain disruptions and compliance requirements. Certa, a leading provider of AI-powered solutions, has developed innovative tools that aim to address these challenges and revolutionize the way organizations manage their procurement and compliance functions.

One of Certa’s flagship AI tools is Design AI, which allows customers to design and edit workflows and integrations using natural language. This eliminates the need for technical expertise, making it easier for organizations to create and digitize new workflows or modify existing ones. With Design AI, customers can simply express their requirements in plain English, and Certa’s AI technology will generate the necessary questionnaires, workflows, and integrations based on their specific needs. This empowers organizations to quickly adapt and optimize their processes, ensuring they remain agile in the face of dynamic procurement and compliance landscapes.

Resources:

Jag Lamba on LinkedIn

Certa

Tom Fox

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Data Driven Compliance

Data Driven Compliance: Dave Crozier – Everything Lies Within the Data

Are you struggling to keep up with the ever-changing compliance programs in your business? Look no further than the award-winning Data Driven Compliance podcast hosted by Tom Fox. This podcast features an in-depth conversation about the uses of data and data analytics in compliance programs.

The Data Driven Compliance features an insightful discussion between host Tom Fox and guest Dave Crozier from Certa. Dave explains how Certa’s workflow automation platform eliminates swivel chairs, data silos, and process blind spots to make the due diligence process more efficient and trustworthy. They discuss the importance of validating and fact-checking data using validation techniques and exception-based triggers. The conversation also touches on supply chain risk management and the advantages of data-driven controls. Dave emphasizes the need to tailor solutions to an organization’s requirements and resources and benchmark against industry standards. This podcast is a must-listen for compliance officers, board members, and anyone interested in improving their risk management framework. So, tune in to the Data Driven Compliance and learn from industry experts like Tom Fox and Dave Crozier!

 Key Highlights:

·      Digital Transformation and Workflow Automation for Risk Mitigation

·      Importance of Validating Information

·      Supply chain risk management and automation

·      Customized Risk Management Strategies

·      Automation and Transparency for Efficient Compliance

·      Continuous Learning and Workflow Automation in Organizations

 KEY QUOTES:

“I can tell you that, you know, from my own personal experience and our clients’ experiences, that not all data coming from all places is created equal.”

“Having different techniques that could be deployed along the way that don’t add friction to the process. It’s a breadcrumb trailer of authentications that happen for all of these data sources along the way to make sure that, you know, you’re going in the right direction.”

“Think of validating the tax ID that is valid and authentic in the eyes of the registry directly.”

“To be able to capture content and serve it, you know, fit for purpose wise to the user is a critical aspect from our perspective.”

Resources:

Dave Crozier on LinkedIn 

Certa

 Tom Fox 

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Innovation in Compliance

Leveraging Technology in Third-Party Risk Management with Jag Lamba and Jared Ezzell

Jag Lamba and Jared Ezzell from Certa, join Tom Fox on the Innovation In Compliance podcast to explore the essential elements of a thriving third-party risk management program. They emphasize the significance of minimizing reliance on third-party self-disclosures by utilizing technology and data. They also highlight the importance of integrating due diligence, training, and ongoing monitoring to create a comprehensive approach to risk management. The conversation extends to payment controls, charitable donations, and the integration of the program into the overall third-party risk management lifecycle. 

Jag is the founder and CEO of Certa. Jared Ezzell is the Chief Customer Officer. Certa is a third-party lifecycle management platform for procurement, compliance, and ESG. Their no-code platform provides an easy and efficient way to digitize and manage the lifecycle of all suppliers, partners, and customers. Certa’s automated onboarding, contract lifecycle management, and ESG management eliminate the procurement bottleneck, allowing companies to onboard third parties three times faster. With their cutting-edge technology, Certa is transforming the way businesses manage their third-party relationships, ensuring compliance and sustainability at every step.

 

Here are some key points Tom, Jag, and Jared talk about:

  • Jared talks about his professional background and his role at the company Certa, their products, and their customers. 
  • The hallmark of an effective anti-bribery and anti-corruption compliance program is the concept of risk assessment.
  • Jared discusses the nine elements developed by Certa for an effective compliance program.
  • The three dimensions of a complete solution for compliance risk management are full spectrum risk management, the full life cycle of the third party, and the full spectrum of third parties.
  • A successful technology transformation project should be a modular rollout, with a focus on solving the highest pain point within three months and continuously phasing the rollout to avoid becoming overwhelmed.
  • Jag and Jared clarify that while the company doesn’t play the role of creating the documentation, they provide input and help evidence the client’s defensible positioning in support of the client’s policies.
  • Jag tells Tom that the ongoing monitoring of third-party relationships requires companies to have data sources and processes in place, have a controls framework to act on information, and automate controls to handle egregious alerts.

 

KEY QUOTE:

“The ability to systematically enforce payment controls is a key common practice in successful third-party risk management.” – Jared Ezzell

 

Resources:

Jag Lamba on LinkedIn | Twitter 

Jared Ezzell on LinkedIn 

Certa

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The ESG Report

Sustainability Transition and Ratings with Jagmeet Lamba and Daniel Perry


 
‘Compliance is no longer the standard. Companies want to do business with other companies whose values align with theirs.’ This is one of the main talking points in this week’s episode of The ESG Report, where Jagmeet ‘Jag’ Lamba and Daniel Perry join Tom Fox for a conversation about third-party risk management.
 

 
The Importance of Third-Party Automation 
“Companies are not islands,” says Jag, “they exist mainly with the help of partners.” As the companies grow and expand, the third-party network does too. With the compliance burden, data security/privacy burden, and now, the ESG burden that accompany all of these third parties, it’s impossible to manage without automation.
 
Reputational Damage 
Tom mentions the risk of reputational damage to one’s brand through their third parties. In Jag’s company, Certa, reputation plays a role in all of the contracts they make with their key stakeholders, therefore, any reputational issue is a breach of that contract. He advises holding your third parties to that same standard. It is no longer sufficient to be compliant, as today, employees and other companies want to do business with those whose values align with theirs. “Compliance is no longer the standard,” Jag tells listeners.
 
The Work of EcoVadis: Improving Sustainability 
ESG stands for environmental, social, and governance. The ‘S’ can also stand for sustainability, but, “Sustainability actually covers all of the pillars of ESG,” Daniel claims. 
In a company, experts are generally required to aid in making procurement decisions, but they  are probably not also experts on sustainability and ESG. His company, EcoVadis, provides a simple scorecard that tells how well, or how poorly a company is doing on key areas of sustainability, such as environment, labor and human rights, ethics, and supply chain. With these scorecards, you can start making broad, tactical decisions. By having one way of understanding the ESG of all suppliers, companies are able to implement necessary changes. 
 
The Partnership between Certa and EcoVadis 
Both Daniel and Jag detail their goals for both their clients, as well as the world of ESG, from their respective company perspectives. “The only way to have a strong ESG profile is if you also measure the ESG profile of your third parties,” is a quote from Jag that sums up this partnership quite well. 
 
RESOURCES 
Tom Fox’s email
Jagmeet Lamba | LinkedIn | Twitter | Certa
Daniel Perry | LinkedIn | Twitter | EcoVadis