By Dylan Tokar Jan. 17, 2020 5:30 am ET For many multinational companies, preventing bribery and corruption involves sending lawyers to far-flung places, holding meetings and web-based surveys, and interviewing uncooperative or uninformed employees.
“They have achieved something I have not seen anyone else achieve when it comes to integrating their various operational and financial data,” said Hui Chen, an independent consultant who helped prepare U.S. Justice Department guidance on evaluating corporate compliance programs and who has seen the platform up close.
Companies typically examine the compliance practices of acquired businesses, looking for areas that need stronger safeguards. Such assessments can involve basic data analysis, but they traditionally rely heavily on the judgment of lawyers or auditors who are flown around the world to interview local employees about how the business works.
Related Today, BrewRight pulls data from more than a dozen enterprise resource planning systems—mainly related to accounts payable—as well as expense, compliance and investigations records, and external data from sources such as sanctions lists and Transparency International’s Corruption Perceptions Index.
One probe into a certain type of third-party vendor in three countries cost AB InBev about $1.8 million before BrewRight, Mr. Galvin said. Replicated with the new platform, another investigation into the same type of vendor in six countries cost about $250,000, he said. Other companies, including Microsoft Corp. and Walmart Inc., which have faced their own foreign bribery probes, have built analytics tools to deal with risky areas of their businesses. But the scope and ambition of AB InBev’s platform—which has been designed to do everything from help prevent money laundering and antitrust violations to catch duplicative payments and track beer giveaways—sets the brewer apart.
Since Busch stole it from a Czeck monastery,reads like a good idea.
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