By deploying automated compliance solutions, organizations now have the opportunity to increase efficiency and the quality of work; thereby increasing their competitive advantage in the market.
Compliance automation enhances an organization’s risk management capabilities by automating compliance decisions, workflow, and reporting.
Why is Compliance Automation Important?
Automation reduces the need for many ad-hoc manual communications (e.g. email, telephone, face-to-face meetings) through automated workflow, decisioning, and trigger-based notifications. By deploying automated compliance solutions, organizations now have the opportunity to increase efficiency and the quality of work; thereby increasing their competitive advantage in the market.
This therefore in the era of growing financial and non-financial regulations, is a fundamental ingredient for commercial and operational success allowing organizations to cater to more demanding customer expectations.
Use Cases for Compliance Automation
Even with a quality team of compliance experts operating at scale, the sheer volume of GRC work often means that the risk of non-compliance in meeting obligations is exacerbated. Checkbox (a Bizibody technology partner) empowers expert automation to ensure nothing is missed, incorrectly assessed, or lost in communication; and it enables this to be achieved at scale. read more