Case Study: HEMA achieves stronger risk control and 35% efficiency gains with 3rdRisk

HEMA boosts internal control efficiency by 35% with 3rdrisk

HEMA, a major European retailer, faced the challenge of embedding risk management and internal controls into its practical, down-to-earth company culture without introducing complicated processes or rigid technology. Their goal was to ensure ownership of risks and controls spread beyond the second and third lines of defense to become an integral part of daily operations for all employees. To address this, HEMA partnered with vendor 3rdRisk to implement its Internal Control module.

The solution from 3rdRisk was a user-friendly platform optimized for engagement, featuring HEMA's corporate identity and a virtual assistant mascot. This approach, along with integration with Microsoft Teams, led to high adoption across the organisation. The results included a significant time savings for all three lines of defense, a 35% increase in operational efficiency for internal teams, and much higher stakeholder engagement. Management also gained comprehensive insights to make more informed decisions.

HEMA