Many executives feel that they have spent a lot of money on compliance without getting much in return. This is not surprising if they have restricted their efforts to short-term goals focused on passing annual audits. In this case, compliance spending is largely consumed by employees performing repetitive, manual tasks. However, if these executives had instead focused on developing a robust, long-term compliance framework, their investments would have lowered the cost of compliance and could have been leveraged enterprise-wide to reduce risk and increase efficiency. Organisations that use the knowledge, skills and technologies acquired through their compliance efforts to create a foundation for improvement in other areas of the enterprise can fully leverage their compliance spending.
Automating Compliance Management activity allows Compliance & Risk management specialists to concentrate their time and resources on producing tangible benefits for the organisation and not get bogged down with the administration of systems.
- Audit Scheduling,
- Electronic Audits, Reporting, & Follow up
- Online & Offline Assessments
- Customer Complaints & Feedback
- Corrective & Preventive Actions with electronic workflow
- Workflows for Approval & Variations
- Investigation and Task Workflow Management
- Interfaced to Risk Calculator for prioritising
Investigations provide for a comprehensive and secure Case Management tool to plan, record, coordinate, and report on investigations. Features include electronic workflows; recording Case Notes periodic reporting; attachment of evidence, examples, and correspondence; and audit logging of actions.
A comprehensive security model provides cross department access on a case by case basis while ensuring confidence in confidentiality of data and findings.