The world of business isn’t easy. Regardless of the industry or scale of operations, the complexity is discernible. Add to it the requirements of regulatory compliance and you multiply the complexity. Businesses of even moderate scale today have entire departments looking after compliance, thus outlining both its importance and its difficulty.
Compliance, risk, and audit personnel in your organization can reduce their efforts on the risk and compliance front by making use of BA Fintech’s( a joint venture between Boston Financial Advisory Group and Avanze Tech Labs) powerful tool – COMPLIANCE iNBOX (CiB). This product has been designed as a seamless platform that will serve the GRC (Governance, Risk, and Compliance) needs of businesses.
Let’s look at some of the features the tool is equipped with:
Comprehensive Coverage: COMPLIANCE iNBOX covers all major regulations applicable to businesses. It helps generate customized reports and helps you set up workflows and track your business’s compliance process. With its comprehensive coverage and automated features, the tool automatically monitors applicable regulation and any changes to it, organizes documentation, and audits the information. It compiles any issues related to non-compliance and maintains proof of compliance. This feature itself gives you a birds-eye view of how COMPLIANCE iNBOX will tremendously reduce the time and effort it takes to complete compliance activities.
Easy to use: Sometimes it happens that some products are feature-laden but are quite technical to use. Personnel needs to undergo extensive and costly training to use that product effectively. That is not the case with COMPLIANCE iNBOX. With minimal training, the designated personnel can use the tool directly without any help from the IT department. Its ease of use ensures that a business is always prepared for audits as no special personnel is required for it.
SaaS-based: COMPLIANCE iNBOX is completely SaaS (software as a service) based. This eliminates the need for installing or upgrading any hardware or software. This feature gives it a leg up over some others whose components are forced stitched together. This feature also makes it easy for your business to extend its access to partners and contractors.
Multiple Roles Definition: One issue with risk and compliance functions is that they can cause discombobulation between people performing different roles. COMPLIANCE iNBOX avoids that by outlining the scope of work and time available to complete it. Process owners can define the extent of access to different assignees. Similarly, audit personnel does not need to wait for disparate staff to provide documents on time as they can make use of this tool to track and audit documents.
Agile and Adaptive: A key feature of COMPLIANCE iNBOX is that it can easily be scaled. As the business grows, the tool grows along with it. If a company acquires another one, its services can be easily extended to the acquired entity.
These features detail different ways in which COMPLIANCE iNBOX can minimize your efforts and maximize assurance of the risk and compliance functions making it an essential part of your business.
Why not give us a call & find more about us? We are here to help you.
Also, we provide free training & support regarding the use of COMPLIANCE iNBOX.
For any assistance, contact us!
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Visit our website for more details. www.complianceinbox.com