There’s a reason why NFL officials don’t carry notebooks to keep track of their calls — horrible handwriting. There are also the inherent challenges that come with refereeing while simultaneously recording everything that you do.
Yet, that is the expectation for public companies dealing with Sarbanes-Oxley: they must follow new business processes and, at the same time, document each act of compliance. Sounds cumbersome. And expensive.
So, how can businesses derive some benefit from the increase in regulations? Embrace it as the justification to accelerate cost-conscious automation with self-documentation. Put an end to homegrown processes that might satisfy auditors but burden employees. Implement a truly dynamic and adaptable solution developed with users, cost and Sarbanes-Oxley in mind. Otherwise, your talented teams will disappear under a mountain of compliance documents and bottlenecked workflows.
In our recent whitepaper, Reducing the Cost of Government Compliance with Business Process Automation, VP Bridget Conrad introduces better organizational practices bolstered by a solution designed to address complex processes with unique structures, all with an eye to cutting expenses. While more substantive advantages are part of the Agiloft offering, Bridget explains that any good business automation process can help with the basic needs of:
- Guiding users through business processes
- Ensuring that these processes are followed
- Automatically moving items to the next stage and emailing the appropriate individuals, providing both automatic follow-up and escalation when needed
- Creating a full audit trail of the way in which the processes were followed
- Providing auditors with all the information they need to verify compliance
During the Super Bowl, a referee can watch instant replay videos. Using proprietary software, the official is linked to a command center in New York, filtering footage from over 70 cameras1. That’s a solid backup plan, albeit a very expensive one. Fortunately, some solutions are designed to satisfy business needs, users, governance and cost-saving initiatives.
Read more about reducing the cost of government compliance: https://www.agiloft.com/reducing-costs-with-bpa.pdf