Certainty about the confidentiality, reliability and availability of business and personal data provides fertile ground for applications that effectively organise business activities. The trust network aligns with data-driven architectures supported by cloud solutions. See an overview of the applications here.
Every year, MYOBI facilitates and encourages users of the trust network to comply with the accountability obligation for organising compliance with legal and contractual obligations, particularly the TTP policy. The TTP Code of Conduct GDPR is part of the TTP policy. In addition, there are awareness and training programs for employees, and MYOBI maintains a professionally correct compliance approach.
The code of conduct, training and compliance approach provides network users with an effective strategy to meet legal accountability obligations for, for example, data protection, information security, customers’ obligations or protecting the company’s intellectual property. A network user can even apply the compliance approach for the entire integral compliance.
With this, the business user develops the following benefits:
- Limiting internal efforts by being compliant with various accountability obligations. An unambiguous compliance approach, supported by adequate knowledge and change management, removes uncertainty, annoyance and workload from employees.
- An integrated compliance approach reduces and manages liability, supervision and cost risks. The “agile” compliance approach and the associated – extensive – change processes do not always put the organisation “on the brink” but contribute to the improving and optimizing internal processes. Leadership and management can use the compliance findings to organise business activities more effectively.
- An integrated compliance approach leads to an effective organisation of the compliance function, resulting in audit costs being reduced.
- The organisation is transparent to its partners and society about the extent to which legal and contractual obligations are met. The user of the trust network uses the Accountability Seal Register for this.
When applying the (integrated) compliance approach, companies request MYOBI to expand or adjust the compliance approach, models or business processes and supporting IT. Professionals of compliance issues deal with the requests and formulate “user stories.” MYOBI assesses all user stories together, sets priorities and initiates developments and changes.
Smart contracting for an effective corporate legal function (legal operations)
A powerful application on the trust network is smart contracting. With the help of smart contracting, a business user organises his corporate legal function effectively. Duthler Associates and First Lawyers manage the application, provide legal contract models, make legal contract models business-specific, design, implement and manage corporate legal functions, and help companies keep their corporate legal process effective. Smart contracting uses the following trust services:
- Authenticating the company’s identity and of the legal representative(s).
- Arranging the assignment of tasks, powers and responsibilities to employees under the obligation of the legally authorized representative.
- Assuring the confidentiality, reliability and availability of company and personal data.
- Providing an electronic signature that allows employees to sign documents from their role and access processes and data.
- Providing an adequate negotiating environment, certifying agreed agreements and depositing contracts.
- Informing partners in their information ecosystems about changes in each other’s internal and formal organisation.
- Informing partners about their compliance with legal and contractual obligations using the compliance approach and the Accountability Seal Register.
Duthler Associates and First Lawyers staff the Contract Board. The Contract Board is responsible for managing the contract portfolios that form the basis of the company-specific contract libraries. Changes in legislation or interpretation of legal frameworks are assessed by the Contract Board, after which the impact is incorporated into the contract portfolios, company-specific contract libraries or even concluded agreements. The Contract Board informs the companies that use this application and explains how to act.
The Contract Board understands that not all users’ partners wish to register on the Trust Network. However, before agreeing, the identity of the partner and his legal representative is authenticated. Therefore, MYOBI offers the following solution:
- A partner registers at the invitation of a user of the trust network. MYOBI hereby authenticates the company and the legal representative; and
- MYOBI provides this work free of charge for the first three agreements entered by a partner.
Company-specific learning environment with awareness and training programs
As part of registering on the trust network, the user is provided with a company-specific learning environment in which a collection of awareness and training programs are available. With the help of the learning environment, a company creates a knowledge base in its business operations. With the support of the programs, the network user organises data protection, information security or the corporate legal function in an effective manner. In addition, the company-specific learning environment helps a company manage the logistics for knowledge management, and the programs are focused on areas of interest that a company wishes to organise.
A company may use the company-specific learning environment to organise its knowledge and change management.
Business activities are central
The applications aim to effectively organise business activities (for example sales, personnel management, purchasing or governance). Applying the TTP Code of Conduct GDPR is an example of taking appropriate management and security measures “by design” in business processes and complying with privacy and information security measures “by default.” The user organises business activities effectively, such as sales, personnel management and purchasing. A company organizes the same business activities with an unambiguous contract library, awareness and training programs, smart contracting and well-organized processes for making agreements. The company manages effective contract management from its information ecosystem in which the partners and the deals are included.
As more applications become available and the functionality of existing applications grows, users of the network are applying appropriate combinations for effectively organising their business activities.