Strunk is proud to report that October was the highest volume software sales month in our history. In addition, October 2019 YTD sales of Risk Manager, our Governance, Risk Management and Compliance management solution, are already up almost 50% relative to full-year 2018. New clients in October range in asset size from just under $100 million to over $1.2 billion.
This success was fueled by Strunk’s strategy to offer a broad range of services, allowing clients to purchase all of our GRC modules, including Risk Assessor, Policy Manager, Controls Manager, Skills Manager, Issues Manager, Vendor Manager plus our hosted ODP Manager software for one affordable price. Clients also signed up for Overdraft Privilege program reviews and implementation of new Overdraft programs.
Strunk CEO Dan Roderick commented, “In just one month we were able to add a record number of new clients across every line of our business and a broad range of software solutions. From my perspective, this is what it’s all about – providing full-featured, easy-to-use tools that also offer clients great value. Our sales team has really knocked it out of the park!”
With Strunk’s Governance, Risk Management, and Compliance (GRC) solution suite clients can greatly enhance internal control and risk management processes and save time. The suite includes:
- Vendor Manager is a specialized tool for managing vendor risk that standardizes risk assessment methodology and organizes all vendor related documentation.
- Risk Assessor helps prepare comprehensive risk assessments consistent with regulatory or other requirements, in days, not weeks.
- Policy Manager organizes all existing policies into a single database, mapped to the relevant standards and control procedures.
- Controls Manager schedules tests of policy compliance and tracks test results.
- Issues Manager is a centralized database for tracking all compliance issues and incidents across your entire organization.
- Skills Manager provides online testing and training to ensure employees are knowledgeable about the organization’s policies.
In addition to our GRC solutions, financial institutions should periodically review their overdraft program to ensure they are not using policies and procedures that are non-compliant with current laws and regulations. Strunk’s comprehensive Overdraft Privilege Program review includes recommendations to increase fee income and ensure compliance. Additionally, clients receive access to our state-of-the-art program management software, ODP Manager.