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Whole Foods Market has deployed a new risk management solution to help better organize and streamline its financial reporting.
The natural and organic food retailer worked with Marietta, Ga.-based Riskonnect, Inc. and its technology consultant partner, Shelter Island Risk Services, to implement the Riskconnect’s newest product offering, Riskonnect RMIS, throughout Whole Foods Market.
“As a public company, you only have so much time to get all your financial reports closed,” said Margot Roth, director of risk management for Austin, Texas-based Whole Foods. “Riskonnect RMIS has enabled us to cut days off our closings. The integrity of the data and the ‘audit-ability’ of the data have greatly improved. This system is really tailored to the business user.”
The RMIS implementation, including third-party administrator (TPA) and carrier data integration into Riskonnect RMIS, for a global user community, was completed within 90 days.