Transforming Risk Management: How TPG Telecom Centralised Operations and Boosted Risk Culture with ReadiNow
Written by Client Case Studies,
TPG Telecom Limited, a leading telecommunications provider in Australia, was formed through the merger of Vodafone Hutchison Australia Limited and TPG Corporation Limited.
With renowned brands like Vodafone, iiNet, and Internode under its belt, TPG Telecom offers a variety of mobile and fixed network services across Australia. However, the organisation faced challenges related to standardised risk management practices and data consistency, which led them to seek out a solution to centralise their processes and improve data quality.
The Challenge
TPG Telecom was faced with the challenge of managing risk across its diverse operations.
It used multiple Excel spreadsheets and SharePoint registers with no centralised visibility, leading to inconsistent risk assessments and poor data quality. This also impacted the organisation’s ability to standardise training and operational consistency. TPG Telecom needed a single source of truth and a more structured risk management framework to ensure consistent, high-quality assessments and to provide a trusted organisation-wide lens of its risk-profile.
The Solution
ReadiNow’s platform provided TPG Telecom with an integrated solution to streamline risk management processes. Implementing key modules such as risk assessment, risk approval, risk appetite, and key risk indicators (KRIs), ReadiNow allowed TPG Telecom to consolidate its data into a single source of truth.
The platform’s no-code functionality enabled TPG Telecom to develop and standardise their risk taxonomy without needing technical experts. With ReadiNow, the approval process that previously relied on emails transitioned to an auditable and centralised system, significantly improving operational transparency and efficiency.
The Results
The implementation of ReadiNow led to significant improvements in TPG Telecom’s risk management practices.
Key results include:
Improved Risk Culture Score: TPG’s internal risk culture score increased from below 50% to 84%, with clearly defined areas for improvement.
Enhanced Decision-Making: With a centralised view of risk data, decision-makers were able to aggregate risks and make informed decisions across the entire organisation.
Operational Efficiency: By eliminating manual processes and consolidating risk-related tasks within a single tool, TPG Telecom saw a noticeable improvement in speed and data consistency.
Additional Benefits: TPG Telecom also extended the use of ReadiNow beyond risk management to support compliance, business continuity and internal audit processes, highlighting the platform’s versatility.
Conclusion
ReadiNow has allowed TPG Telecom to not only resolve its initial challenges around data fragmentation and inconsistent risk management practices but also laid the foundation for a more integrated and insightful approach to risk and compliance.
TPG Telecom is now focusing on further enhancing its risk insights and dashboarding capabilities through ReadiNow, with plans to leverage the platform for additional business functions. The no-code nature of ReadiNow has empowered TPG Telecom to continually evolve their risk practices without the need for external developers, ensuring long-term sustainability and growth.
"ReadiNow has delivered a flexible GRC platform to our business which has enabled clearer vision and transparency, a single source of truth, simplified & consistent processes and administration, and enhanced tracking and reporting capability, across the scopes of Risk, Compliance, Business Continuity and Internal Audit.
The ReadiNow OOTB capability is comprehensive, but the customisable functionality of the tool really stands it apart, and has allowed use to build the best business-fit tools for our unique needs, and a valuably interconnected GRC environment."
- Kim Hardwick, Senior Manager, Risk Governance | Legal & Risk, TPG Telecom
