1) Compliance and Control
Increasing regulation – with corresponding increases in risk of legal and financial liability
Remedial policy management – patchwork vs. proactive approach to enforcing policies and procedures
Lack of employee accountability – due to lack of monitoring, measurement, and enforcement
No visibility – no accurate view of the organization’s compliance status, which would impede response to an investigation
Best practices – one solution delivers monitoring, measurement, documentation, and enforcement capabilities needed to institute the best practices in compliance
Risk reduction – reduce threat of litigation and other serious consequences with thorough documentation and enforcement
Global view of compliance – view comprehensive management dashboards for a complete picture of your employee knowledge base and levels of compliance
Simplified solution – ease of use for employees and managers, and ease of implementation for IT, results in fast adoption and a fast track to compliance
Documents supporting your critical business processes, including policies and procedures, are highly valuable assets. Policy management software will protect your investment by ensuring that they are distributed, read, accepted, updated, and retained. The automated functions dramatically reduce time, costs, errors, and risks while increasing productivity and efficiency.
Full lifecycle document management capabilities allow you to create, edit, review, approve, publish, archive, and audit from a single, secure location. An integrated solution means no more “broken links” between document storage, publication, distribution, and compliance systems across the organization.
Whether they are at work, at home, or on the road, a cloud based solution gives employees online, 24/7 access to the information they need to do their jobs.
2) Productivity and Performance
Manual / paper-based processes – resulting in use of outdated information and even data loss, which drag down employee performance
Pressure to meet higher quality standards (e.g. ISO) – Without corresponding increases in resources or tools
Competitive pressure – looking for ways to boost productivity and performance
Higher performance – employees can improve performance through on-line, 24/7 knowledge access
Quality management – continually monitor and document effectiveness and use the information to fine-tune your critical processes
Improved communication – ensure that the right people get the right information at the right time, that they understand it and accept it, and that this is communicated back to the right people
Competitive advantage – achieving total compliance can put you ahead of the competition
Manage documents that support business-critical functions related to:
- Government regulatory compliance
- HR, training, and emergency preparedness
- Finance and accounting
- Legal, and any other key processes
- Management of all types of electronic files
A compliance management and measurement dashboard shows an instantaneous view of compliance metrics, available 24/7. You can display a single, consolidated view of compliance metrics, or drill down to details for every level of staffing including management, employees, contractors, and auditors. At any point in time you know exactly who understands and has accepted a specific policy or other document.
3) Resource Optimization and Return on Investment
Continuing growth in policies and procedures – requiring more money, resources, and manpower to manage
Either no document management solution or incomplete solutions – because IT is unable to provide the right tools
Internal pressure to reduce costs – just making the problems worse
Unified, complete solution – dramatically reduce time/cost/effort by accessing all compliance documentation and tracking information in one place
Low cost of ownership – inexpensive web-based solution that’s flexible and scalable enough to fit into any environment
Fast return on investment – experience a successful document lifecycle within just days after implementation (instead of waiting months or even years for an in-house solution)
A policy management software is priced significantly lower than the cost of developing equivalent capabilities in-house. The fee structure keeps costs predictable and affordable over time.
Pricing is aligned with other fundamental back-office systems such as Payroll, AR, and AP to ensure that all organizations, regardless of size, can afford it. No organization that has a large volume of business-critical documents, or that operates under regulatory constraints, should be without a policy software.
Utilize a web-based, hosted service with secure online storage that provides very high value for a very low cost of ownership.
This Whitepaper was written by ComplianceBridge.