Trojan CorporateTrojan Corporate

By Narelle Davidson

Are you using technology to manage compliance?

Mistake #6 Technology is not being used to manage the compliance system

Can we use technology to manage compliance?

Technology is now accessible to almost anyone, anywhere at any time.   If technology is not being used at your club to manage and drive the compliance systems, then the system is likely clunky and cumbersome.  The system will operate until it, or someone within it fails.

Is your compliance management system becoming a massive case of paper warfare? Have manuals become doorstops and dust collectors? Are you spending precious time chasing people up to sign off on policy?

Aging platforms with compliance functionality may not provide for flexible solutions and can require investment in time to set up and manage.  The system should be sleek, simple and fun to use and above all provide a solution; for this it will need to be flexible in design and future development.

We should not become slaves to technology.  Rather it should allow us the freedom and flexibility to become slaves to our customers.

Solution: consider using technology

Take a look at contemporary compliance management systems with platforms that are “modular, easy to change, agile, flexible, user friendly, very simple to use and manage and suitable for multiple devices that can be used anytime, anywhere”. Bill Owens.

If you want to find out more about cloud solutions check this out.


By Narelle Davidson

The value of compliance reports at your fingertips

#5  Does your compliance management system provide current reports at your fingertips?

Does the system:

  • Allow reports to be produced by gathering the information it has collected?
  • Report on compliance issues met or at risk?
  • Provide reports that demonstrate the effectiveness of the compliance program?.
  • Report on survey results, self-assessment checklists, incident reports or the status of corrective actions?
    The business and regulatory landscape is becoming more complex, and management and boards are pressuring CCOs to deliver better information to help them identify and manage a growing list of organizational risks. Many CCOs are understandably challenged to meet the new demands placed on them. pg. 2. State of Compliance 2014 Survey.  What it means to be a “chief” compliance officer: Today’s challenges, tomorrow’s opportunities

Relevant reporting will provide factual evidence for managers, Boards and regulators.

Look at what reports are available from the compliance management system and question; do these provide meaningful, accurate and timely data on the status of compliance in the business? Could these be improved? If the answer is yes, then will the system allow for this to occur?

The system needs to be carefully considered, it will need to be relevant to the business needs and capable of guiding the compliance program towards, the Clubs values, business strategy and objectives. It will need to be relevant to the Clubs identified risks and promote continual improvement.

Solution – reports that are relevant:

The solution is to get more from your system without it costing you more and taking more time than it should. Systems, be it manual or automated can range from simple to complex; whatever the system keep it relevant. It should be able to support the business without complicating it. Select a system for the business that reports what it finds and finds that which is relevant to the business.

Create relevant reporting:

Evolving compliance reporting can help drive relevance with the board, senior leaders and business partners.  pg. 22. State of Compliance 2014 Survey.  What it means to be a “chief” compliance officer: Today’s challenges, tomorrow’s opportunities