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SAI360

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SAI360, formerly known as SAI Global, is a multinational company based in Chicago, Illinois, United States. SAI Global previously offered risk management services, quality assurance audits and certifications, auditor training, standards information services, and property services. SAI360 now provides ethics, governance, risk and compliance software and learning solutions. This encompasses modules for enterprise and operational risk management, IT security, internal audit and regulatory compliance, as well as learning management software, ethics and compliance training, and program development.[1]

History

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SAI360’s roots extend back to 1922 with the formation of Australian Commonwealth Engineering Standards Association (ACESA) out of the need to protect workers’ lives through better industrial safety standards. Over the next 50 years, the association experienced growth and success, eventually becoming Standards Australia International Limited (SAI Limited), a leading standards development organization in Australia and beyond.[2]

In 2003, SAI Global was formed when Standards Australia sold off its commercial business. On December 17, 2003, SAI Global was floated on the Australian Stock Exchange with an initial shareholding of 40% retained by parent organization Standards Australia that was then progressively sold down to zero.

In 2009, SAI Global began a legacy of leading in EHS with the acquisition of Cintellate.[3] This laid the foundation for what would become the EHS component of the SAI360 platform. In 2012, with the acquisition of Compliance 360. SAI Global began offering compliance tools to stay ahead of the rapidly shifting regulatory landscape in U.S. healthcare.

In 2016, SAI Global acquired Modulo, bringing together risk and compliance with digital risk capabilities to help organizations manage cybersecurity, data privacy and GDPR compliance.[4] Later that year private equity firm Baring Private Equity Asia acquired SAI Global Group.[5]

In 2019, SAI Global launched the SAI360 platform and deepened its commitment to Integrated Risk Management by acquiring Strategic BCP Resilience One.[6]

In 2020, SAI Global expanded its capabilities in the financial services industry by adding a robust internal audit and regulatory compliance offering with the acquisition of BWise from Nasdaq. Here, SAI Global rounded out its capabilities in the Governance, Risk and Compliance space.[7]

In May 2021, SAI Global sold its Global Standards and Assurance practice to Intertek Group for A$855 million.[8] Following the sale, the Risk and Learning business rebranded as SAI360. This marked a significant milestone in the company’s journey, becoming a pure-play cloud software and content business across ESG, GRC, Learning, EHS and Sustainability.

Acquisitions

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  • Symphony Technology Group (STG) completed its acquisition of SAI360, marking a significant step to enhance SAI360's growth and innovation in cloud-based integrated risk management, EHS&S, and compliance learning solutions.[9]
  • SAI360 integrated its EHS&S division with Evotix, following the acquisition of Evotix, to streamline operations and maximize potential. As a result, Evotix now represents SAI360's full suite of EHS&S solutions in the market.[10][11]
  • SAI Global Limited acquired Easy i Holdings Ltd., a compliance training and awareness solutions company with millions of users in over 100 countries, as part of their growth strategy. This acquisition has since blossomed into SAI360's Learning division.[12]

Awards Won

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SAI360 has won several awards for its innovative learning modules, including:

  • 2022 Anthem Awards: SAI360 Learning won two medals in the inaugural The Anthem Awards. Winning a silver medal for partnership and collaboration was their DEI course “Addressing Systemic Racism in the Workplace.” Their course “Preventing Global Modern Slavery” was awarded a bronze medal for social impact.[13]
  • 2022 Brandon Hall Group Excellence Awards: SAI360 Learning won two gold medals and a silver medal in the Brandon Hall Group Excellence Awards. The gold medals were awarded for their DEI course “Addressing Systemic Racism in the Workplace” and their course “Managing Change.” The silver medal was awarded for their course “Leading with Emotional Intelligence.”[14]

Analyst Awards Won

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Here are some analyst recognitions for SAI360:

  • SAI360 was named a "Leader" in the 2021 Verdantix Green Quadrant for EHS software and was recognized for its comprehensive platform that helps organizations manage risk, comply with regulations, and improve employee performance.[15]
  • In Verdantix’s Global Corporate Survey 2022: EHS Software Brands Recognition, SAI360 EHS software was recognized as a top preferred EHS&S brand.[16]
  • SAI360 was named a Leader in the 2020 Gartner Magic Quadrant for IT Vendor Risk Management Tools for the third consecutive year.
  • SAI360 and its suite of healthcare-focused compliance modules was recognized by Forrester as one of six “large established players.[17][18]

Company News

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In Spring 2024, SAI360 introduced the Ethics and Compliance Learning Maturity Model, a tool designed to evaluate the maturity level of an organization's compliance training program.

The model benchmarks a company's program against industry best practices and guidelines from the U.S. Department of Justice. Rather than solely aiming to control misconduct, the model advocates a data-driven, strategic approach to compliance training as a way to proactively manage risks.

By identifying areas for improvement, the Maturity Model allows organizations to enhance their training initiatives to better mitigate risks, cultivate an ethical culture, and ensure alignment with core organizational values.[19] The model represents SAI360's perspective on how compliance training programs should evolve beyond bare minimum legal compliance toward becoming an integrated risk management practice.[20]

In Spring 2024, SAI360 published a report on the annual benchmark survey conducted by Strategic Management Services, LLC, regarding the state of healthcare compliance programs in the United States. The survey analyzed current challenges faced by compliance programs, responses from organizations to these challenges, and trends observed over time. It also covered key areas like the culture of compliance, budget allocations, staffing levels, and the priorities of compliance offices.[21]

References

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  1. ^ "Home". SAI360. Retrieved 2024-04-25.
  2. ^ "Our History | Standards Australia". www.standards.org.au. Retrieved 2024-04-18.
  3. ^ "Cintellate sold for $14.1m". Business News. 2009-10-23. Retrieved 2024-04-18.
  4. ^ "SAI Global Pty Acquires Modulo Security | Mergr M&A Deal Summary". mergr.com. Retrieved 2024-04-18.
  5. ^ Mendoza, Carmela (2016-09-27). "Baring Asia wins SAI Global's support for A$1bn acquisition". Private Equity International. Retrieved 2024-04-18.
  6. ^ "SAI Global and Strategic BCP ResilienceONE Deliver Market-Leading Integrated Risk and Business Continuity Management Solution". www.businesswire.com. 2018-02-08. Retrieved 2024-04-18.
  7. ^ "SAI Global to Acquire BWise from Nasdaq". markets.businessinsider.com. Retrieved 2024-04-18.
  8. ^ Carcano, Sonia (2021-05-19). "Intertek Group's A$855 Million Acquisition of Assurance and Standards Arms from SAI Global – Global Legal Chronicle". Retrieved 2024-04-18.
  9. ^ "STG Acquisition Of SAI360 Showcases Reliance On Risk Management Solutions During Turbulent Times". Default. Retrieved 2024-04-16.
  10. ^ "SAI360's Acquisition Of Evotix Is A Statement Of Intent To Win Mid-Market Mindshare". Default. Retrieved 2024-04-16.
  11. ^ "Evotix is acquired by SAI360 Inc". Frog Capital. 2023-04-27. Retrieved 2024-04-16.
  12. ^ "SAI Global Ltd. Makes Acquisition | Quality Magazine". www.qualitymag.com. Retrieved 2024-05-15.
  13. ^ "Anthem Awards: Finalists 2021". frosty-disk-b41d.theprojectsomething.com. Retrieved 2024-04-23.
  14. ^ SAI360. "SAI360 and Colgate-Palmolive Take Home Multiple Brandon Hall Excellence Awards". www.prnewswire.com (Press release). Retrieved 2024-04-22.{{cite press release}}: CS1 maint: numeric names: authors list (link)
  15. ^ Global, S. A. I. "Independent Research firm Names SAI Global platform a 2021 Green Quadrant 'Leader' in Environmental, Health and Safety (EHS) software". www.prnewswire.com (Press release). Retrieved 2024-04-23.
  16. ^ "Global Corporate Survey 2022: EHS Software Brands Recognition". Default. Retrieved 2024-04-23.
  17. ^ SAI360. "SAI360 Recognized in 2022 Now Tech Report for Third-Party Risk Management". www.prnewswire.com (Press release). Retrieved 2024-04-23.{{cite press release}}: CS1 maint: numeric names: authors list (link)
  18. ^ "Now Tech: Third-Party Risk Management Platforms, Q1 2022". Forrester. Retrieved 2024-04-23.
  19. ^ "SAI360's Ethics & Compliance Training Maturity Model". SAI360. Retrieved 2024-04-24.
  20. ^ SAI3602023-12-06T17:02:00. "White paper: Maturity Matters: Is It Time to Advance Your Compliance Training Program?". Compliance Week. Retrieved 2024-04-24.{{cite web}}: CS1 maint: numeric names: authors list (link)
  21. ^ "Webinar: 2024 Compliance Benchmark Survey Results". Strategic Management Services, LLC. Retrieved 2024-04-25.
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