The field of compliance is becoming increasingly complex. One of the primary difficulties is managing compliance in any organization is ensuring that all teams are working together to meet fundamental requirements. For most organizations, this level of cooperative organization is easier said than done. And for organizations that lack a comprehensive knowledge management strategy, achieving compliance within every function across the organization feels nearly impossible.
With the SinglePoint knowledge management platform, common mistakes like late filing, the omission of basic information, or lack of coordination between jurisdictions can be alleviated or avoided. By consolidating content and record management, expertise location, and lessons learned, teams can achieve greater levels of compliance and make fewer costly mistakes.
Manage Continuing Regulatory Change
The landscape of governance, risk management, and compliance is continually evolving, and compliance managers need to stay abreast. New regulations need to be met with upgraded training documentation and ways for compliance officers to consult collegial expertise quickly and efficiently.
The SinglePoint knowledge management platform allows compliance officers to store, retrieve, and easily share compliance information across the company. With intelligent keyword searching, recommended reading, and article summaries, compliance officers can quickly locate new industry information aggregated from all your organization’s paid subscriptions. Compliance officers can also manage any primary or secondary research in the same location, meaning the hunt for updated compliance information no longer has to be excruciating. It’s all located in one place.
Reduce Compliance Silos and Redundant Efforts
Several factors can give rise to the emergence of multiple compliance silos within a single organization: mergers and acquisitions, reorgs, and even scrappy attempts to quickly manage changing regulations. Disparate teams and processes can lead to multiple teams re-inventing the wheel, unaware that they are duplicating their efforts.
With the SinglePoint knowledge management platform, teams can share access to the same research, publications, and intelligence, effectively working from the same playbook. Integration and communication between compliance teams improve as each team can refer to the same set of practices and data. Lessons learned, historical or legacy documentation, and updated documentation regarding regulatory changes can be stored and retrieved from a single system, allowing teams more permeability and greater collaboration.