Listen to this articleBelow is our interview with Jonathan Brun, Chief Executive Officer at Nimonik:
Q: Could you provide our readers with a brief introduction to Nimonik?
A: Nimonik offers an integrated compliance management software with regulatory database and industry standards to help organizations identify and comply with industry standards and regulations. Users of Nimonik’s solution can also upload corporate documents, permits, customer requirements and other documents that contain requirements for their business. Ultimately, Nimonik helps businesses centralize and proactively manage their compliance efforts.
Nimonik is based in Montreal, Canada and has offices in Calgary, Toronto, Canada, as well as Shanghai, China, and now in Oakland, United States with the recent acquisition of Document Center, an industry standards reseller. This was Nimonik’s fifth acquisition since the start of the company.
Nimonik works with over 800 customers around the world in nearly every industry to help them actively manage compliance to regulations and industry standards. Compliance requirements are constantly changing, Nimonik helps everybody move from reactive to proactive compliance management.
Q: Who is your ideal client and why?
A: Nimonik’s focus is mostly mid-sized companies that work in multiple jurisdictions. When we say mid-size, we’re talking about 500 to 25,000 employees. In general, we have smaller companies and bigger companies that want a solution that’s cost effective, easy to use, and they can get set up quite rapidly.
Q: Can you tell us more about your solutions?
A: Nimonik identifies the regulations and standards that likely apply to your project or your company. We then help you identify the specific requirements that are of high importance and you have filtering tools, action management, corrective actions, and auditing tools to stay on top of your requirements.
You can then link those requirements with your internal documentation, controls, systems, engineering, plans, issue actions, and conduct audits. Our workflow takes you from the regulations and the standards to a set of requirements that are being properly managed across your organization.
Q: What can we expect from Nimonik in the next 6 months? What are your plans?
A: Our goal is to integrate industry standards into our platform and offer everybody an affordable solution to manage requirements across all of their applicable documents, that’s ultimately what we’re trying to offer our customers.
In June 2024, we will migrate the standards subscribers from Documents Center’s standards online platform to Nimonik’s, where they can access regulations and workflow tools. Later in 2024, we will launch a new store to purchase standards in PDF and Print format.
Q: What is the best thing about Nimonik that people might not know about?
A: Nimonik is fundamentally a technology company so we think we have a unique set of skills having worked with regulations for many years and software to be able to deliver something new, innovative, and very user friendly. A lot of inspiration for what we’re doing is coming from the music industry and what Spotify did. I think most people will be familiar with as we went from CDs or even before then, cassettes and vinyl through the piracy age to iTunes where you could buy a CD or you could buy songs. Now most people, I think, subscribe to an online music system whether it’s Spotify or Apple Music or an equivalent.
At the click of a button, you have added functionality playlists, music management recommendations. I’d say if we boil it down, those are the three main reasons why people have a subscription to these systems, and we think standards should be pretty similar. These services are priced affordably, there are great discoverability tools and there is the pleasure of listening to any music at any time.
Nimonik will roll out core functionality in the next year allowing users to build lists of standards and regulations, ability to annotate documents, add actions, link documents to your engineering documents and conduct audits and inspections based on standards. We think these core functionalities will help small and medium companies achieve much higher rates of compliance and improve their business. Nimonik is here for the long term as a technology partner to any company that believes in the value of compliance.
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