The legal team must comply with all laws, rules and regulations applicable to its operations and business activities. Digital regulatory compliance solutions play a big role in achieving that compliance. Documents are always available to authorized viewers. Built-in reminders signal the need for review and update. Individual, groups and even groups within groups are set to ensure an accurate connection between policies and the people they govern.
The legal department itself can benefit directly by improved management of legal documents and tasks. Archive contracts and contract provisions, including future action such as renewal fees and exercise of contractual offerings. Compile, update, and submit information required for reports to the SEC and other agencies. Compile policies and related documents for Sarbanes-Oxley compliance and distribute to affected employees. Coordinate annual report activities including compilation and authoring performed by multiple contributors and subject matter experts. Assemble content required for litigation and arbitration.
The legal team is often involved in compliance activities given its role in ensuring regulatory compliance. Policies and procedures create the foundation for compliance. Managing these critical documents online makes it much easier to stay current with regulatory changes, ensure proper distribution to employees, and test for understanding. Digital regulatory compliance solutions provide evidence of the organization’s success in following the rules.
The legal team can rely on a streamlined workflow to provide efficiency, greater awareness and comprehension of applicable policies and procedures. The entire publication process is automated from creation, revision and approval to distribution, testing and acceptance. Reminders and notifications automatically indicate that action is required.
Employees access policies and procedures from any Internet device, including smartphone, tablet or computer. The latest version is always available by default; older versions are available as needed. Employees are responsible for reading and understanding assigned policies and procedures. Their levels of comprehension and acceptance are easily available for review. All user comments, test results and compliance statistics are secured.
New legislation and regulation represent a big legal risk. Rely on digital regulatory compliance solutions to speed your policy framework update. Policy writers collaborate to create, review and approve the new content. The legal team notifies individuals and groups affected. Management monitors to ensure 100% testing and 100% acceptance. This process reduces the legal team workflow and creates best practices.
Manage policies and procedures with diligence and care. Keep them up-to-date and in force. Test for understanding. Track acceptance.
Give employees a single source to all authorized employees from any device on the Internet.
Keep your organization safe. Keep policies and procedures up-to-date. Monitor acceptance. Test and survey for continued compliance. Fix small problems to avoid big ones.
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