The growing challenge of managing compliance and risk

In recent years, businesses and organisations have struggled to manage increasingly diverse and complex compliance requirements and risks across their operations and operating environments.

Irrespective of the size of an organisation or its industry, every business or organisation will face compliance requirements and challenges as well as implications of non-compliance.

Compliance management is the process by which a business plans, organises, controls activities that ensure compliance with laws, regulations, standards as well as policies, and codes of conduct that apply to an organization.

Top 3 ...

risk areas concerning business in 2021 are – cyber & data security, regulatory change & compliance , digitalisation, new technology and AI –

40% ...

of UK respondents cite skills shortages as a challenge to using tech to manage compliance risk – PWC

36% ...

of UK respondents use data extraction tools to assist real-time monitoring efforts – PWC

55% ...

of UK respondents use technology to monitor employees’ policy compliance – PWC

Evolving Compliance Management requirements

Businesses and their operations face a wide range of compliance management requirements from laws, regulations, standards as well as policies and codes of conduct. New compliance requirements and risks are constantly emerging.  Organisations are turn to their compliance teams or partners to manage coordinated approaches to emerging risks or new regulatory requirements.

To find out more about the importance of compliance management, click here.

The 5 Areas of Compliance Management

Whether you have a dedicated compliance team or not, compliance should be managed. Everyone in an organisation should be aware of and support the compliance requirements linked to their area of responsibility as well as support the active and continuous management of them.

There are broadly 5 areas of compliance management:

Detecting and identifying risks that organisation faces – i.e. Due to failures, new trends or regulations.

Prevent compliance issues and risk through rules, internal awareness, educations, training, controls and procedures.

Monitors and reports on the effectiveness of compliance controls & risk exposure and violations to management.

Resolves compliance issues and requests as they arise, i.e. Query or audit.

Acts as advisory on compliance and how to address issues as well as mitigate or avoid risk. Compliance teams or individuals often work as partners to the various business functions to align business functions and processes with compliant procedures.

Compliance can be a major source of business risk & pain or it can support competitive advantage and customer experiences if managed correctly.

Common Compliance Management challenges

Compliance is a challenge for all business sizes and even dedicated teams.

To explore the signs that you have a compliance management issue, click here.

How We Can Help Support & Transform Compliance Management

ProcessFlows helps organisations and compliance teams of all sizes address their risk and compliance management challenges through a wide range of capabilities. We achieve this in a number of ways:

Compliant Digital Processes & Operations
Build compliance management into your daily digital processes & business operations

Single Point of Control of Your Controlled content
Efficient centralised management & control of your content, data and knowledge

Tasks As A Service
Get key tasks delivered as a service to cover gaps in your resource or compliance –  Helpdesks, Checks, monitoring etc

And More….
From intelligent Data Capture, Digital signatures, Redaction software to Process Intelligence

To find out more about our approach to Compliance Management click here.

Benefits of Compliance Management

By implementing and instituting compliance management across processes and operations, organisations can:

  • Minimise risk to the business associated with non-compliance ie. risk of financial penalties all the way through to the risk of losing access to a market – either by loss of reputation or accreditation
  • Prevent or identify risks, violations and issues before they become a compliance problem
  • Build robust, effective and resilient operations and workforces
  • Reduce unnecessary compliance burden on the business whilst improving governance
  • At a glance visibility and control of compliance performance and SLAs
  • Faster audits and risk reporting without the manual burdens
  • Reduce operating inefficiencies associated with manual compliance tasks
  • Improve business decision making, risk management and agility
  • Reduce the burden, stress and risks associated with Compliance audits through compliance processes and approaches by default
  • Less ungoverned risk – any risk is agreed and acceptable to the business.
  • Innovate and build sustainable and profitable business and customer experiences – without undue risk
  • Remove the risks associated with operational and information silos as well as manual processing

Contact us to discuss how we can help you address your compliance management gaps and augment your practices.

Why ProcessFlows for Compliance Management?

We have a 35 year track record of success & expertise in the deliver of digital process & case management, automation and service desk operations in businesses of all sizes.

A robust approach to transformation based on partnership and supporting every step of the journey from creating a vision and plan through to project managed development, implementation, transition as well as continuous improvement and support.

Accredited end to end professional services and support expertise include Business Process Analysts, Solutions Architects and Project Managers, through to Implementation Engineers, Software developers, Service desk operations, Multi-tiered Support and service delivery managers.

We are independent. We partner with the leading process management and digital workplace technologies providers on the market– such as Opentext, M-Files, Microsoft, Hyland and Kofax. We also have our own hybrid intelligent digital workflow, automation and managed services platform.

For these reasons and more, ProcessFlows should be your trusted partner to support your process and compliance management challenges. Find out more by clicking here.

Our Compliance Management customers

Here are a some of our customers, from small enterprise to large organisations that partner with us to transform their compliance management.

To read all of our success stories, visit our Case Studies page.

Request a No Obligation Consultation

What’s your Compliance Management challenge?

We offer Free of Charge consultations to enhance compliance across your operations and processes.

Book your consultation today:

Quick Contact