Company:Symbiant
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| Type | Private |
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| Industry |
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| Founded | June 1, 1999 (as Symbiant Web Services) |
| Founder | Andrew Birch |
| Headquarters | Leeds, West Yorkshire , U.K. |
Area served | UK, EU, USA, Australia, Canada, Africa (north and south), Middle East, Asia |
Key people | Andrew Birch (CEO) |
| Products | Computer Software for compliance, risk and audit |
| Website | www.symbiant.co.uk |
Symbiant Limited was established as a partner to Worldpay[1] to bring the first online payment systems to UK businesses. It was one of the original UK companies to provide e-commerce solutions and shopping cart software for small businesses & the new breed of cottage industry looking to sell online.
The company's initial office was in Leeds, later they opened in London & New York. After the sale of Worldpay to Royal Bank of Scotland in 2004 the company focused on the development of compliance management software[2].
The word Symbiant is registered as their trademark [3]. The Complete Guide to Business Risk Management said the Symbiant Risk Suite was probably the easiest to use and least difficult of other similar products on the market [4]. Symbiant software is endorsed by the Institute of Chartered Accountants in England and Wales [5]. In the book Managing Business Risk: A Practical Guide to Protecting Your Business, there is an article written by Symbiant's CEO explaining how their software became the only software to have be endorsed by Institute of Chartered Accountants in England and Wales (ICAEW)[6].
History
Symbiant was established in 1999 as a partner to Worldpay[7] to bring the first online payment systems to UK businesses.
In 2001 Symbiant started to work with the accountancy giant KPMG creating solution for audit and risk. The first solution was a KPMG tool called KSAT and then an audit action tracking tool called Symbiant Tracker. Shortly after was the launch of Symbiant Risk Suite, a suite of tools to manage Enterprise Risk Management.
In 2004 Symbiant launched a product called easyGen2 "a programmer in a box" it created dynamic web solutions by using a series of wizards and built in functions. The solution received several industry magazine awards and was frequently on the Amazon best sellers list [8].
In 2012 Symbiant merged the audit software with the risk tools and created a combined solution so risk and audit data could be shared and viewed together. The tool was originally called the Symbiant Management Suite and then shortened to just Symbiant One.
Products
1999. Symshop / Symcart. ( e-commerce shopping solution for Worldpay )
2001. Risk Champions Toolkit (KPMG product). KSAT (KPMG self assessment tool).
2003 Symbiant Tracker
2004. Symbiant Risk Suite. Symbiant easyGen2
2012 Symbiant Management Suite (Risk and Audit combined)
2014 Symbiant Compliance Platform.
2021 Symbiant One (currently version 6)
Articles
There are several published articles by Symbiant's CEO, where he talks about ways of scoring risks with features such as a "target" score when measuring risks[9]. A risk would usually be measured by looking at the Inherent (Gross) value and the Residual (Net) value. Target considers if the current Residual score is acceptable. In a more recent article he explains Dynamic Residual Scoring [10] residual scoring is based on certain controls being in place and therefore reducing the impact and/or likelihood of a risk. The concept of dynamic residual scoring allows companies to list the controls that are responsible for the reduction then testing those controls, if a control failed an assessment the software would recalculate the residual scores accordingly.
References
- ↑ "End of an era: Worldpay to delist from London Stock Exchange - FinanceFeeds". https://financefeeds.com/end-of-an-era-worldpay-to-delist-from-london-stock-exchange/.
- ↑ "Symbiant: Ushering Cost Optimization and Simplicity to Risk Management" (in en). https://enterprise-risk-management.cioreview.com/vendor/2016/symbiant.
- ↑ "Search for a trade mark - Intellectual Property Office" (in en). https://trademarks.ipo.gov.uk/ipo-tmcase/page/Results/1/UK00003044875.
- ↑ Sadgrove, Mr Kit (2015-02-28) (in en). The Complete Guide to Business Risk Management. Ashgate Publishing, Ltd.. ISBN 9781472442192. https://www.google.co.uk/books/edition/The_Complete_Guide_to_Business_Risk_Mana/1SbxDwAAQBAJ?hl=en&gbpv=1&dq=symbiant&pg=PT643&printsec=frontcover.
- ↑ (in en) Corporate Governance: Principles, Policies and Practices. ISBN 9780199607969. https://www.google.co.uk/books/edition/Corporate_Governance/MamU3RJ1fqcC?hl=en&gbpv=1&dq=symbiant.co.uk&pg=PA223&printsec=frontcover.
- ↑ Reuvid, Jonathan (2011-12-03) (in en). Managing Business Risk: A Practical Guide to Protecting Your Business. Kogan Page Publishers. ISBN 9780749466619. https://books.google.co.uk/books?id=7Va7eUiZhNsC&newbks=0&printsec=frontcover&pg=PA25&dq=Andrew+Birch,+Symbiant&hl=en&source=newbks_fb&redir_esc=y#v=onepage&q=Andrew%20Birch%2C%20Symbiant&f=false.
- ↑ "End of an era: Worldpay to delist from London Stock Exchange - FinanceFeeds". https://financefeeds.com/end-of-an-era-worldpay-to-delist-from-london-stock-exchange/.
- ↑ "Amazon.co.uk: Software / Categories / Programming & Web Development". 2005-04-02. https://web.archive.org/web/20050402025855/http://amazon.co.uk:80/exec/obidos/tg/browse/-/600188.
- ↑ Reuvid, Jonathan (2011-12-03) (in en). Managing Business Risk: A Practical Guide to Protecting Your Business. Kogan Page Publishers. ISBN 9780749466619. https://books.google.co.uk/books?id=7Va7eUiZhNsC&printsec=frontcover&source=gbs_ge_summary_r&cad=0#v=onepage&q&f=false.
- ↑ "Symbiant: Ushering Cost Optimization and Simplicity to Risk Management" (in en). https://enterprise-risk-management.cioreview.com/vendor/2016/symbiant.
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