We provide an internal reporting system for companies. To higher the quality of each incoming report an AI algorithm monitors the input data and asks the reporter about missing information. This helps the company's staff to reduce manuel workload and error rate.
Current Status
We have an initial production version of an internal reporting system that allows a whistleblower to submit a report anonymously and have it processed in a comprehensive functional case management tool. The next step on our roadmap is to implement an AI algorithm that helps whistleblowers make high-quality reports and supports employees analyze these cases quickly and effectively for the benefit of the company. This development will start in July 2021.
We currently have a few customers testing our system and their feedback is contributing to the development.
Market
The EU Whistleblower Directive 2019/1937 stipulates that from December 2021, all companies with more than 250 employees in the EU are obliged to provide an internal reporting channel and to comprehensively protect whistleblowers. This additionally applies to public companies.
From December 2023, this will apply to all companies with more than 50 employees. The market therefore comprises more than 100,000 organizations in the DACH region.
Problem or Opportunity
The EU Whistleblower Directive comes into force on December 17, 2021. Fr om December, all companies in the EU with more than 250 employees must have an internal reporting channel. The systems currently available are physical or digital "mailboxes", wh ere the main work is done manually by the processing staff. The result is therefore very dependent on the performance of the people doing the analysis.
We provide a learning system that, based on previous cases, will help company staff analyze incoming reports and then produce more focused solutions for the benefit of the company. Our software will reduce the manual workload and the error rate of the company's employees.
Solution (product or service)
Our system contains of 3 modules that can be licensed independently: 1. ACT4Whistleblowing: reporters entry pages. All information can be provided in several languages and with an quality check 2. ACT4Case Management: in this module all information about a case is stored centrally and several people can work on it 3. ACT4 Safe&Divers: discussions can be held anonymously in this module
We also offer consulting in the implementation of the system and in the analysis of the received cases.
Competitors
20 - 30 competitors whithin the EU who sells a software which is a digital mailbox. This means a huge amount of manuell work for the companies staff.
Advantages or differentiators
Our USPs are: - easy collaboration between internal and external professionals (lawyers, forensic consultants etc.) - AI algorithm who helps the staff to handle the cases in a targeted and appropriate way and to come up with good solutions (NLP, process mining, machine learning) - Using the AI algorithm, we will provide a learning system that helps companies analyze the messages in a cost-effective way. It helps to improve the enterprise operation continuously.
Finance
Revenue: Licenses and consulting service 1 License for a big company is about € 12 - 18k plus VAT per year
Main cost elements in 2021 in %: 25% personnel costs 45% costs for new developments & product improvements 10% IT operating costs 20% marketing & sales costs
Business model
Pricing Model: companies will license our software on a yearly bases the license costs depend on the size of the company, the number of user IDs and the scope of functionality Upselling of additional consulting services to analyse cases
Channels: A. B2B-market (C-level, Compliance officers, Internal Auditor, Head of HR) B. Resellers are trusted advisors of C-level (lawyers)
Money will be spent on
Accelerating growth through: A. Product Development 1. AI Algorithm 2. roll-out of different languages 3. Enhanced functionality in case management B. (Digital) Sales & Marketing C. Establishment of a consulting unit
Offer for investor
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