Although you may mean well, your good intentions will not amount to much in the eyes of the law. It can be tricky to follow all the many rules and regulations of compliance: GDPR, Health and Safety, Employment and more. Don’t let your clients and employees lose confidence in you. Protecting them should be the priority as well as protecting your business. The cost of non-compliance and monetary fines have been continuously increasing in the past few years, it doesn’t have to take much for you to find yourself in violation; the Financial Services Sector fined a total of £163,305,322 in 2017. There is a vast number of ever-shifting government guidelines, but this is no excuse to not keep yourself fully educated about the latest requirements and changes in legislations and manage these using a technology driven approach, which will make the process easier for everyone involved and protect against hazards like fraud.
Flexible and customizable, you can map out your time-consuming tasks as intelligent workflows using logic that accounts for different operations and outcomes of your assessment processes. Reusing information that has already been entered into the system will reduce data redundancy and increase accuracy. Automating your operations will take a massive weight off of you and reduce the need to collaborate which increases the risk of human error, so scrap the flimsy paper-based systems and stuffy spreadsheets now.
Eliminate the risk of breaching compliance without manually micromanaging and let a program give clear and concise explanation of what is needed to move on to the next stage then provide users with all the requirements and information at their fingertips - everything can be configured for your specific business operations and internal structure. Inserting stop-points makes sure that your task cannot move on until the necessary information is there and confirmed or approved by the appropriate parties. When handling sensitive data, you should automatically allocate the appropriate member of staff to authorise tasks at the relevant stage before moving on.
Through using a cloud-based digital system, automating document generation is safe and quick, letting you dedicate your time and resources elsewhere and avoid paper waste. Navigate the nuisance of needing to come out with Word template after Word template and ensure your documents match the standards required for compliance; templates can always be updated to reflect any changes in governance, which you should remember to look out for.
Automatically allocate the appropriate member of staff to authorise tasks at the relevant stage, with everything configured for your company’s specific operations and internal structure. It is imperative to have the right person on the job at all times, depending on role, skill set, location and more. Along with this, getting accurate audits is essential. You will need to effortlessly keep track of who does the work and how the work gets done with a comprehensive audit log of the actions by all users on the system. This can be provided with one single software as well as all the other functions mentioned in this article.
Enable proactive alerts, notifications, escalations and save searches. Treat yourself to an advanced dashboard that does all of this for you, enhancing control and visibility by displaying all outstanding tasks and current progress. The suitable tools and controls for system administrators/managers will be available - when things inevitably get on top of you, delegate tasks with the click of a button or flag a task as high priority to boost it to the top of the pile. Alert your staff and customers in advance when priorities or plans change and guarantee that your deadlines are always fulfilled with features such as the RAG (Red Amber Green) SLA system so your jobs don’t fall behind. This can be ensured through chasing up tasks with automatic alerts, by email or text. Automation software can do wonders in preventing you from getting caught out with non-compliance and unnecessary inspection and audits, leading to a waste of time and money and in the worst-case scenario dissolution or even imprisonment. Be bulletproof from any lawsuits and charges and ensure the future of your business.