Would you like to guess what was declared ‘word of the year’ in 2020? It’s an easy one!
Okay, here you go. Merriam-Webster Dictionary announced ‘pandemic’ as the word of 2020. No surprises there!
It has been one of the most challenging years for people, enterprises, and governments all over the world. It has also been a year of rapid digital transformation where enterprises have had to embrace the new normal and find a balance between what worked in the past and what the future will look like. At ComplianceQuest, we’ve been fortunate to have played a small but important role in helping business leaders and enterprises deal with a wide range of challenges.
In this post – as we look back at 2020 – here are five key highlights we would like to share with you.
#1 We launched CQ’s Workplace Safety and Supplier Readiness Apps as part of Work.com to help enterprises restart operations
ComplianceQuest was invited to become a key partner for Work.com, an initiative by Salesforce that helped several businesses restart and digitize their business operations as we moved into a remote-first world. We were thrilled to join the Work.com initiative by Salesforce along with some other wonderful corporations including Deloitte Digital, PwC, Accenture, Fusion Risk Management, and Traction Guest.
Work.com includes a suite of technology solutions, resources, and ‘best practice’ guides to help leaders automate and drive the digital transformation of some new processes that have become the need of the hour. The Work.com Command Center offers a single hub to keep track of vital data and information around readiness to reopen, health and safety tracking for employees, customers, and partners, in addition to interoperability with the rest of the Salesforce ecosystem for other critical operational processes.
#2: We helped many healthcare and life sciences companies – that were at the forefront of fighting the pandemic – automate quality and compliance workflows
For healthcare and life sciences companies, meeting regulatory requirements and optimizing for the highest quality metrics is paramount. The new normal demanded that quality and compliance workflows had to be done with cloud-based software that was scalable, flexible, and mobile-ready. Several companies with on-premise or pen-and-paper based QMS workflows struggled to keep up with evolving regulatory requirements.
“I don’t know how we would have survived the pandemic if we didn’t have access to a modern, cloud-based quality management platform. It wouldn’t have been possible with staff working from home on a paper-based system.”, a quality systems manager from Establishment Labs (read customer case-study here)
100+ healthcare, medical device, and life sciences companies in 800+ locations around the world are using ComplianceQuest as its compliance solution thanks to our next-generation capabilities.
#3: Our foray into EHS Solutions and our ability to help customers build an integrated Quality, Health, Safety, and Environment (QHSE) system became a key differentiator
One of the biggest trends we’re witnessing with a front-row seat is that business leaders are looking for a unified, single solution to manage quality, health, and safety. It has become evident – especially in high-risk sectors like oil & gas, manufacturing, and aerospace – that one cannot choose between safety and quality.
There is no quality-first or safety-first approach anymore. The enterprise of the future will be designed to proactively mitigate both quality and safety-related risks, ideally with a single, data-driven platform.
Safety and quality leaders will have to work together to develop a continuously improving mindset towards both quality AND safety.
At ComplianceQuest, we were very excited to launch an integrated QHSE solution (EQMS + EHS). An integrated solution also made it possible to manage risks across both areas with a single source of information and data, complete with predictive analytics and insights.
#4: Helping companies improve their supplier quality management workflows & offering a trove of quality content
The time has come to fundamentally rethink supplier relationships. In today’s competitive and dynamic marketplace, it is imperative to build strategic relationships with your suppliers, ideally for the long-term. The pandemic also pushed enterprises to rethink what supplier-related metrics have to be tracked. It was critical to analyze risk-levels of a supplier based on location and how the virus had impacted that geography. Movement of goods and logistics posed major challenges, and in all this, quality, safety, and compliance processes had to become more robust.
At ComplianceQuest, our EQMS is designed to help enterprises manage quality metrics across the product lifecycle – across suppliers, internal operations, and all the way to the customer. It seamlessly integrates with a variety of ERP and CRM systems making it easy to access ‘one version of truth’ – when it comes to tracking quality metrics and data.
In 2020, thanks to all the disruption caused by COVID-19, it became all the more important to track quality metrics across the supply chain. Kudos to the product and customer success team at ComplianceQuest for quickly building out several new supplier quality management features, that helped enterprises in several locations across the world dealing with quality issues across the supply chain during this pandemic. For companies who didn’t have the support of a modern management module like our customers, we offered a trove of quality content around supplier management,
- The Future of Digital Supplier Quality Management
- Reimagining Supplier Qualification & Onboarding
- Data and AI-driven Supplier Performance Management
- Supplier Quality Agreements
- Key Supplier Management
We also conducted a supplier quality benchmark survey. The detailed report from our findings will be out shortly.
#5 ComplianceQuest featured on the elite Inc500 list of ‘Greatest Entrepreneurs and Fastest-Growing Private Companies in America’
ComplianceQuest Ranks No. 446 on the 2020 Inc.5000 with three-year revenue growth of an eye-popping 1000%, putting it on the elite Inc.500 list, a subset of Inc.5000. The team was deeply honored and excited to be featured in this prestigious list. It validates our dedication to customer success and consistently delivering what the market is looking for, and at times, setting the trend for what the market should demand.
Talking about the ComplianceQuest team, here are some of them in a year end video tribute,
These are only a few highlights from a year that has been filled with dynamism and change like we’ve never seen before. A big shout out to all our customers, investors, partners, and Team CQ – for having worked hard with enthusiasm and resilience in spite of COVID-19.
Here’s hoping the pandemic comes to a close as soon as possible and we have a more positive word that becomes ‘word of the year’ in 2021!