Giving the Greenlight to Success!
Greenlight Technologies is the pioneering leader in risk analytics, financial performance and regulatory compliance solutions. We spoke to Anand Adya to find out more about the firm and how he came to be recognized as CEO of the Year – New Jersey by U.S. Business News.
Established in 2004 by Anand, Greenlight Technologies provides an enterprise-wide approach to improving financial performance, managing regulatory change, and quantifying the impact of financial and operational risk. Strategic decision-making in fastchanging environments requires a different approach. Through the unique ability to integrate and correlate information across multiple technology domains and provide decision-makers with real-time recommendations, Greenlight Technologies supports key CFO, CISO, and Finance Transformation initiatives. Global 1000 companies rely on Greenlight Technologies to efficiently enable sustainable financial performance improvements and compliance across enterprise applications and business processes. Anand outlines the firm’s solutions in more detail in his opening comments.
“Greenlight Technologies is the pioneering leader in integrated risk, financial performance and regulatory compliance analytics solutions. We pride ourselves in serving many enterprise customers in enabling C-Level decision-making and financial improvement of end-to-end business processes, including Procure-to-Pay, Order-to-Cash, Supply-and-Demand Balancing and many more. With the Balance Sheet of the FutureTM, we are helping companies return cash to their balance sheet, monitor progress of their finance transformation initiatives, and make decisions based on scenarios and recommended actions with measurable impact.
“Our solution offerings also include Access Violation Management (AVM). While a certain level of access risk is unavoidable, to eliminate it all would limit business productivity. Next generation ERPs will not change this, and controls will still be required to mitigate these risks. However, for many companies, these controls are manually driven, time consuming and costly to enforce. And locating actual exceptions can be like searching for a needle in a haystack. With AVM, enterprises are able to identify every instance where actual violations have materialized, regardless of current or past user access.
“They can accomplish this by automating the identification and review of materialized access violations across all users and business processes, regardless of underlying technology. The benefits include minimized manual activities on control auditing and monitoring, visibility of financial exposure from unresolved access risk, better decision-making on access rights, and improved risk information when making process change.
“Jabil Circuits reduced access violation data review by 95%, cut Segregation of Duties (SoD) risk by 50%, and moved to continuous controls monitoring while acquiring two companies. They were able to maintain compliance while integrating these new acquisitions. They introduced 100% transactional monitoring for configured controls, and identified users with access authorization bearing high risk.
“Additionally, we offer Regulation Management to allow enterprises to confidently assess and respond to regulatory changes, accelerate compliance with new mandates, and expand controls automation across the enterprise. The application enables them to establish accountability and share best practices across key stakeholders, standardize disparate regulatory requirements, and demonstrate end-to-end compliance. They can centrally manage and report on regulatory requirements and prioritize the impact of changes to the business. The application acts as a single authoritative source for alerts and requirements intake, eliminating silos and enabling standardization across regulatory mandates. It provides enhanced visibility, as well as enabling an organization to take a holistic approach to managing and reporting on regulatory and compliance requirements from start to finish.”
Drawing on his vast industry experience, Anand has led the company from its inception into the market leading provider of financial performance, risk analytics, and regulatory compliance solutions. Anand has more than 15 years of experience leading technology teams, as well as having worked in the management consulting field and for the information technology advisory practice at PwC.
As a serial entrepreneur, Anand has been a founding member of two successful technology start-up organizations prior to Greenlight Technologies. As CEO of Greenlight Technologies, Anand is responsible for driving the organization’s strategic agenda, technology vision and business operations. He is considered to be an industry thought-leader on the topic of financial performance, governance, risk and compliance management and is a frequent speaker at major conferences on this domain. Anand received his MBA from The Wharton School of Business at the University of Pennsylvania, and his undergraduate degree from Indian Institute of Management. He explores how he came to create Greenlight Technologies.
“During my second year at Wharton, I did a thesis on the “Impact of SOX on long term shareholder value”. This was very contemporary during those days. During my research with various companies and stakeholders in the compliance process, I saw an enormous opportunity to introduce automation in the area of risk and compliance management. The majority of compliance and controls activities were largely manual and based on limited sample testing. I set out with a vision to create a technology platform that will allow companies to detect and prevent compliance violations by monitoring 100% of business transactions across all business applications in real time.”
“While working with several leading companies, it became clear to me that they had a significant lack of visibility into their ability to manage compliance. We realized that what these organizations needed was a way to automate the linkage between regulatory compliance requirements, policies and standards with underlying controls, uncovering areas of non-compliance. Then we knew that we could build the solution to automate compliance across the business applications and IT systems. We continue to find new ways to help these enterprises achieve compliance, recently launching our Cyber Governance solution, providing an analytics-based platform for IT executives to monitor their cyber governance program and communicate progress and vision to the board. The solution automates the linkage between cyber policies and standards with underlying controls, highlighting areas of exposure. While we have evolved as a company over time to provide increased layers of business value, such as financial performance improvement, it is this platform that provides a foundation for scalable, sustainable solutions for SOX, Finance, as well as regulatory compliance mandates across industries. Today we are a pioneering leader in risk, financial performance and regulatory compliance solutions.”
Since the inception of Greenlight Technologies, the start-up experience has become more challenging but also much more rewarding. It is Anand’s vision that is leading the way, and while he relies on his team to help execute it, he is the one driving it. There is a tremendous amount of satisfaction in seeing his own solutions implemented at leading companies, because it validates what he has accomplished. He is eager to discuss his passion for entrepreneurism and how he works to drive his company to excellence.
“Personally, I was driven towards the entrepreneurial mindset due to the ability to define one’s own career and destiny, and having full freedom to create something that helps solve a particular problem. There is nothing more exciting and challenging than coming up with a vision for a company and then actually building it from the ground up. It is very satisfying to find the right people to drive your vision and work hard to grow the organization. I continue to work with top employees in their fields and it leads to even greater steps than I initially imagined. I stay here because I know we provide business-critical solutions that are changing the way enterprises manage compliance, security, risk and threats. We’re on the edge of achieving significant growth, and I’m looking forward to continuing to lead this group of people to accomplish it.
“If you’re considering becoming an entrepreneur, you have to focus on an area that you’re passionate about. This means you have to have a deep commitment to the products or services you plan on providing, because this is something that draws in the best employees and inspires them to help you move your vision forward.”
Overall, Greenlight Technologies offers a truly unique solution to its clients, and this will remain the firm’s ongoing focus, as Anand concludes.
“Ultimately, Greenlight’s solutions enable an organization to take a true enterprise approach to governing risks and improving financial performance. With more businesses investing in best-of-breed solutions and making the move to the cloud, Greenlight’s advanced integration platform ensures that they can scale as their business changes and grows. Greenlight’s ability to integrate with and correlate data across multiple business applications, coupled with powerful analytics aimed at business users, delivers enterprise visibility of cash flow, risk exposure and regulatory compliance from a single platform.”
Contact: Craig Abramson
Address: 270 S Main St #101, Flemington, New Jersey, 8822, USA
Phone: 001 908 782 5700