Trust is the cornerstone of human society. In the absence of trust, we established mechanisms of enforcement: Oversight. But oversight comes ex post facto, and thus, it’s not ideal.
Where oversight fails, stakeholders often introduce more - or stricter - oversight. The consequence: More and more hours are spent assisting oversight functions to assess the quality of their work.
This is not a sustainable solution.
We see another way. We believe that people are willing ánd capable of being in control. Automation technology and data analytics present unique and unprecedented opportunities to support them in this.
Equipped with the right tools, the first line will take accountability.
Technology, working in tandem with employees, will deliver better results. Oversight functions can focus on areas of (high/emerging) risk, strengthening the system as a whole. Automation accelerates harmonisation, enhancing quality and reducing the cost of control.
A new digital assurance market will develop, relying more on expertise than familiarity.
As systems of control digitise and mature, new and specialised assurance providers will be established, enhancing competition and creating the need for an open assurance marketplace.
These beliefs inspired us to create Tidal, with three key objectives in mind:
- to equip the first line to be in control
- to be the most automated controls platform
- to create an open assurance market
To drive the mass adoption of distributed trust and transparency in internal controls, to drive automation, and to create freedom of assurance for the benefit of businesses, their employees and society as a whole.
To develop the technology that equips the first line to be in control, that allows businesses to choose freely among assurance providers, and that enables assurance providers to focus on the risks that matter most.