Jeff Kushner, Chief Marketing Officer at Allgress, speaks with Tom Fox about what companies should look for in a platform to innovate and automate the compliance function. Allgress provides an integrated solution that automates risk and compliance management with simplicity and quick time to value. Jeff talks about the challenges businesses face with regard to the compliance function and how Allgress can help.
The Biggest Compliance Challenges
Keeping pace with workflows, processes and requirements often leads to constant firefighting, fines, increased costs, and loss of accountability. These issues stem from the use of manual methods in the compliance function. Many companies do not quite understand how automation can help. Requirement changes and reporting remains the biggest challenge: compliance challenges continue to rise and so too personal liability of compliance staff and executives. Reducing business risk with innovation has become a top priority for organizations, in order to manage rapid changes and identify potential impact before it’s too late.
A Good Automated Compliance Solution
Jeff describes a good automated solution as a comprehensive one that allows you to easily collect, analyze, communicate, remediate, or accept compliance risk with the least amount of manual effort. Various data sources can be correlated and represented in an integrated dashboard, so that you can assess your compliance risk posture; and when changes occur, you can take action in time to create the least impact on your business. Other features of a good solution include:
- Continuous updates and change tracking;
- Ready to use standards, regulations, and frameworks which can be modified for your specific requirements;
- Standard to standard mapping, also called checking once and complying with many requirements.
Allgress is Such a Solution
Jeff comments that Allgress is such a solution. It is a single platform that integrates the entire process of compliance management, risk analysis, and third-party vendor management, among other functions. Allgress allows businesses to achieve customer value in a few weeks vs. months. It is also modular so you can add the functions you need as you need them.