eNewsletter Archives
Welcome to Entropy International's
Q2 2005 Newsletter.
I hope you find the content and referenced material of value and of course we welcome your comments, thoughts and input on this and future newsletters.
Kindest regards,
Hewitt Roberts, CEO
Operating and Financial Review: Using corporate environmental, health & safety management systems to accelerate compliance and increase competitive advantage
Abstract
In January 2005, the UK government published the final draft of the Regulations that will require mandatory reporting by all UK quoted companies of an Operating and Financial Review (OFR). Not only are there criminal liabilities for not completing an OFR, there are fines for Directors who complete them without due care and skill, and there are potential civil liabilities for misrepresenting a company’s future outlook and prospects.
The aim of the OFR is to provide transparency on and accountability for a company’s objectives and strategies, past performance and future prospects. However, in the long term, widespread adoption of the process will increase global competitiveness and the prospects for a stable and sustainable UK economy.
While many businesses will see the OFR as another regulatory burden, the reporting process is an enormous opportunity to improve corporate risk identification, management and mitigation. This in turn will force action and disclosure about the measures taken to control and mitigate those risks, which will then drive a greater appreciation of their potential influence on business performance.
Clearly, smart money is on using the OFR as a tool for improving business performance. When looking to prepare an OFR, the most efficient and cost-effective means of accelerating the process, the time to benefit and competitive advantage is to ensure the process is information technology-based and integrated with existing information management systems. Considering that one of the core purposes of OFR reporting is disclosure of material non-financial risks, a solid foundation for OFR reporting will be existing enterprise-wide systems for managing key non-financial risks such environmental and health and safety management systems.
Entropy International Expands Global Operations
Over the last year, Entropy International has seen a steady increase in activity in the North American marketplace and we are proud to have added a number of large and reputable North American clients to our customer community. In order to meet these growing demands in North America and better meet the needs of our increasingly international client base, we are pleased to announce that we are opening an additional office in Ottawa, Canada.
New Customers
Entropy International are delighted to welcome the following customers into the Entropy System user community:
Click on the logos for more information about these companies that have chosen the Entropy System.
News from the Entropy International User Group
The second gathering of the Special Interest Group user community took place at GSK House on the 13th and 14th April 2005. The event was a tremendous success with two clear outcomes:
A customer-prioritised list of product issues; and
A commitment to a workflow-based approach centred around thirteen Special Interest Groups. These groups consist of customer champions and supporters, along with Entropy customer-facing and development representatives. The objective of this change is to enable a more focused and continual approach to customer input into product development.
The focal communication point for each SIG is now the Customer Connection Discussion Forum, which is currently experiencing a significant amount of open discussion and raising of change requests for many workflow areas of the Entropy System. We encourage all of our customers to get involved and have their say in how the product is developed.
Entropy International's Annual User Conference
The 2005 User Conference will take place at the prestigious Midland Hotel in Manchester, UK, over three days - September 14th to 16th. This is the premier event in Entropy International’s calendar and this year’s theme is Innovate and Discover. Entropy International, our Customers and Alliance Partners will gather to discover how the system is used to add value to the operational control of many different organisations, and to share ideas and explore innovative ways of using and developing the Entropy System. This event is considered a must in terms of attendance for the majority of customers and we look forward to seeing all our friends again in Manchester this year. Customers can register for the User Conference at the Entropy International website.
Entropy International Launches Webinar Program
On June 30th, Entropy International hosted a webinar event entitled ‘The Business Benefits of the Entropy System Dashboard’, which was such a success that we will be repeating it later this month. We have received excellent feedback and comments regarding the first event, including ‘The webinar was an excellent method of imparting the particular type of information. All participants appreciated the session and found it interesting and useful. Thank you for this opportunity and congratulations for hosting this successful event.’ Elaine Preston, ONS
The additional seminars will be taking place on July 27th and 28th at 3pm GMT for those who missed out on the June event. If you are interested in attending, please e-mail amanda.saint@entropy-international.com. Going forward, we will be hosting regular web seminars so keep an eye on our Upcoming Events page where new dates and topics will be posted.
About Entropy International
Awards
BT Business-Connections Award for Innovation
Vision 100 Index
Entropy International provides software solutions that enable organisations worldwide to improve environmental, social and economic performance, thereby contributing to global sustainability.
The Entropy System is a market-leading, web-based application for risk and compliance management that helps businesses improve internal control and overall corporate governance. It enables multi-site, multi-national organizations to reduce operational risk and ensure compliance across their businesses therefore reducing cost, improving profitability and increasing shareholder value.
Entropy International's customer base includes companies such as AIG Consultants, Inc., Barrick Gold Corporation, BAA, BT Group, Diageo, GlaxoSmithKline, Tarmac, Toyota, Vodafone, Wrigley and UK Government.
Contact Us
Entropy International Ltd
1 Waterview, White Cross
Lancaster, LA1 4XS, United Kingdom
Tel: +44 (0)1524 389 385
Entropy International Inc
555 Leggett Drive
Suite 630 - Tower B
Ottawa, Ontario, K2K 2X3, Canada
Tel: +1 877 766 7679
Email: info@entropy-international.com
Web: www.entropy-international.com
