Policy Management Software
Compliance Track is as valuable to compliance professionals as Sage™ is to accountants
Compliance Track provides a fully featured web based policy management software at its core and adds compliance monitoring on top of it to complete the Compliance Lifecycle.
It automates the entire document life cycle on policy management, governance, and compliance.
» Is Compliance Track Right For You?
Sample usage scenarios are presented below.
- A company looking to implement a policy / procedure / contract management software
- A company looking to automate their compliance management efforts
- An audit or compliance consulting company delivering their expertise of document authoring, compliance testing or auditing to its customers
- A domain expert creating a domain specific solution to their market place
» Key Benefits Of The Policy Management Software Module
Policy Standards
- Consistent and clear policies for end users
- Cost savings by reducing time and training effort to mandate policy standards
Policy Search
- The "problem of finding" is addressed in all stages of policy management
- Cost savings by having the right information at the right time
Policy Creation
- Automate and expedite approval and review
- Visibility for validity and freshness of policies and procedures
- Visibility of policy versions and changes
Policy Distribution
- Automate policy distribution and saves time in sending to the right people at the right time
- Automate reminders and save time and avoid missed deadlines
- Nuisance level of the reminders move from the manager to a system
- Policies presented to the user with all related documents, e-learning materials and other related documents or other existing software applications
Policy Archive
- No more outdated policies and procedure manual – ensure the live content is always up-to-date
- Policy archive is kept for audit trails ensuring compliance
- Productivity by automating reminders for renewing policy documents
Policy Training
- Policy training content is disseminated automatically with policies to ensure consistent understanding
- Important policies could be sent along with quizzes and ensures consistent performance from employees on key risk areas
Policy Affirmation
- Reduce management time and get visibility on who has read policies and if needed measure comprehension
- Improve employee performance by increased comprehension of procedures and their roles
Policy Report
- Employees can create their personal manual with all the policies and procedures relevant to them
- Reports for visibility to auditors, compliance officers, regulators
- Single view dashboard
Regulatory Compliance
- Regulators or auditors can easily find policy documents relating to rule book items easily
- Mitigate compliance risk by immediately seeing the gap areas like lack of policies, outdated policies etc.
» Compliance Track Policy Management Software vs. Other Solutions
| Policy Management Areas | Paper based Policy Management | Electronic Policy Management | Major Policy management software vendors | Integrated Policy Management |
| Tool to capture policies | Printed manuals | Word, XLS, PDF, SharePoint etc. | Various |
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| Policy Creation | Manual process | Manual or workflow | Built-in workflow and version management with limited granularity |
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| Policy Distribution | Manual process | Manual process | Built-in reminders |
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| Policy affirmation | Paper signature | Manual process | Built-in policy affirmation |
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| Policy training | Classroom or e-learning with manual traceability to policies | Classroom or e-learning with manual traceability to policies | Mostly disconnected training |
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| Policy report | Manual process | Manual process | Built-in reports |
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| Compliance management, GRC readiness | None | None | None or varies |
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| Cost of ownership | N/A | Varies | High cost of entry |
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| Productivity saving | Least productivity | Low productivity | Better productivity |
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| Security | Least secure | Low security | Better security |
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» Compliance Track Policy Management Software Module - FAQ
| What is a Policy in the context of Compliance Track? |
Policy in the context of Compliance Track is any document, which describes a company’s policy, procedure, rules, guidelines manuals, handbooks and similar documents. Compliance Track provides a robust and easy to use policy management system. |
| What is a Clause in the context of Compliance Track? |
| Clauses are the sections and sub-sections that make up a policy. Each clause will contain the content and text of the policy. |
| What are the major Policy Management functionalities of Compliance Track? |
| Compliance Track provides a fully featured, easy to use policy management system. Following are the major policy management functionalities in CT from an employer's viewpoint.
- Manage the policy creation workflow and approval cycles |
| What is the meaning of affirmation? |
| A company may assign a set of policies or procedures or other documents to their employees. The employees will need to read and affirm their acceptance and understanding. Affirmation in the context of Compliance Track refers to all such activities of a company. |
| How do you affirm a policy in Compliance Track? |
When any user logs on to Compliance Track, he is presented with a list of policies or procedures or documents he needs to affirm. This is based on the policies assigned to the user by the policy creator during creation or by the System Administrator after the policy is created.
When one clicks on a policy to affirm, Compliance Track presents the Policy, its associated e-learning (if any), Clauses & its associated e-learning and finally the affirmation. Following shows an example of a sample affirmation.
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» Policy Management Software - Quick Overview
Policy Management using Compliance Track - Architectural View
