Stricter regulations have made organizations reinforce their compliance policies and codes of conduct. A well-structured whistleblowing program supports this cause by giving users a channel through which they can call the attention to any wrongdoing. A whistleblowing software tool pushes the agenda a bit further by allowing to maintain the objectivity of such programs.

The software empowers employees and stakeholders to raise their voices against any illegal act while being completely anonymous. This is very important in building the confidence that any diligent move will not be rewarded with retaliation. Consequently, this ensures that organizations don’t miss out on any harmful acts that can potentially turn disastrous if left unchecked or unresolved.

This buyers guide will go deeper into the subject and discuss what exactly such a software tool is and what are its common features and benefits.

Here’s what we'll cover:

• What is whistleblowing software?

• Common features of whistleblowing software

• What type of buyer are you?

• Benefits of whistleblowing software

• Market trend to understand

What is whistleblowing software?

Whistleblowing software, also known as whistleblowing helpline, hotline, or case management solution is a tool that allows employees and others (suppliers, customers, and the general public) to report complaints, misconduct, or violations of laws confidentially and anonymously.

Firms can purchase whistleblowing software as a standalone system or as a part of compliance management software.

Reporting/analytics feature in NAVEX Global Software (Source)

Common features of whistleblowing software

The exact features vary depending on the product but most whistleblowing systems generally have the following overlapping features.

What type of buyer are you?

Before purchasing a solution, you should assess what kind of a buyer you are. The majority of buyers fall into these categories:

Small and midsize enterprises (up to 500 employees): These buyers typically don’t have a large budget, which restricts them to focus primarily on systems critical to their operations. However, a whistleblowing system can prove beneficial since it encourages prompt reporting of any wrongdoing. This may help avoid or minimize financial ramifications that could otherwise strain an already limited operational budget. Trying out free versions to gauge the value of a whistleblowing tool is a good bet for these buyers. Once convinced, they should look for low-cost options that provide easy configuration and are quick to implement.

Large enterprises (more than 500 employees): The greater number of people and processes at larger organizations means that the chances of wrongdoings, even if accidental or unintentional, are higher. And the likelihood of a bigger budget means that such buyers can look for a contingency system in the form of a whistleblowing tool to contain situations. A fully-featured whistleblowing system is highly recommended for buyers in this segment. Additionally, it’s advised that they have a well-defined process for responding to and managing whistleblowing complaints.

Benefits of whistleblowing software

Below is a comprehensive list of benefits you can expect from deploying whistleblowing software:

Information passed is secured: Whistleblowing software allows users to report and pass information about any fraudulent activity anonymously and securely. This helps in detecting compliance violations without leaking the information to external sources. As a result, it minimizes reputational damages.

Efficient handling of cases: The software lets the administration and compliance team handle each case with sensitivity and correctly by guiding them through appropriate steps and legal considerations.

Helps build trust with employees: The whistleblowing system lets whistleblowers maintain their anonymity. This builds trust amongst employees knowing that they can raise their voice against wrongdoings without fearing any retaliation.

Market trend to understand

Here’s a recent trend in the whistleblowing software market that you should be aware of.

Whistleblowing solutions will enable users to report incidents via mobile phones: Mobile plays a crucial role in the day-to-day activities of almost everybody. From everyday communications to gathering or disseminating information, this platform has become pervasive. This trend carries over to workspaces too. Individuals now expect the same level of mobile capability in their work applications. Consequently, it will be common to see whistleblowing solutions enabling users to report incidents from anywhere using their mobile devices. This will make incident reporting near real time and allow organizations to respond more promptly.

Note: The applications selected in this article are examples to show a feature in context and are not intended as endorsements or recommendations. They have been obtained from sources believed to be reliable at the time of publication.