What is Conflict of Interest Software?
A conflict of interest is a scenario whereby an individual’s decision making is, or potentially could be, compromised due to the fact he or she has competing interests or loyalties.
Similar to other types of unethical activities, conflict of interest issues carry the risk of consequences and can result in fines or prosecution. For example, government officials are specifically prohibited from activities that would result in a personal gain because of conflict of interest.
Likewise, corporate directors who sit on a company board cannot indirectly profit from the company they ultimately govern. Director fees cover their payment, not profiting from business activity. You can learn about other scenarios that constitute a conflict of interest by downloading the whitepaper here.
Interestingly, for a conflict of interest to occur and be problematic for the organization, it simply needs to exist. That is, the illegal or unethical activity may not have taken place yet, but the mere potential conflict to occur is a conflict in itself.
You can learn more about a potential conflict of interest by downloading the whitepaper 'What is Conflict of Interest Software?' Alternatively, you can learn how Conflict of Interest Software can be implemented in your business by contacting a friendly member of our sales team.