No Need To Change Existing Systems,
Service Providers, Or Institutions
Compliance
Financial Transaction Insights In Real-Time
Compliance
Feature Overview
How The Compliance Feature
Can Bring Value To Your Global Organization
The Compliance Management capabilities of the Financial Intelligence Solution provide a comprehensive solution for managing and maintaining compliance across various regulatory requirements. By leveraging these features, an organization can achieve significant savings in a lower risk of fines, lower audit costs, and improved efficiency in compliance processes. These benefits highlight the potential for substantial improvements in compliance management, ensuring that an organization can navigate the complex regulatory landscape confidently and efficiently, protecting its reputation and bottom line.
Automated Regulatory Monitoring
Feature Description: Continuously scans for changes in regulations that affect business operations and automatically updates compliance processes and controls accordingly. This proactive approach ensures that an organization remains in line with the latest regulatory requirements.
Business Benefits: Reduces the risk of non-compliance and associated fines by up to 30%. By automating the monitoring of regulatory changes, organizations can quickly adapt their compliance strategies, minimizing the likelihood of costly oversights and audit costs.
Compliance Reporting and Dashboard
Feature Description: Offers real-time dashboards and reporting tools designed to streamline the creation and submission of compliance reports. It simplifies the compilation of required documentation and enhances visibility into compliance status.
Business Benefits: This may increase compliance reporting processes’ efficiency by up to 40%, saving significant time and resources. Automated reporting tools reduce the manual effort required to gather and report compliance data, allowing staff to focus on other critical tasks.
Risk Assessment and Management
Feature Description: Provides tools for identifying, assessing, and managing compliance-related risks. It helps prioritize risks based on their potential impact and likelihood, enabling an organization to allocate resources effectively and proactively mitigate risks.
Business Benefits: Improves risk management efficiency by an estimated 25%, enabling business units to identify and mitigate compliance issues before they result in violations or penalties. Effective risk management supports a culture of compliance and protects a company from potential financial and reputational damage.
Audit Trail and Document Management
Feature Description: Maintains a secure and comprehensive audit trail of all compliance-related activities and documents. This feature ensures that evidence of compliance activity can be easily accessed and reviewed during audits or investigations.
Business Benefits: Reduces audit preparation time and costs by up to 50%. A well-organized and accessible audit trail simplifies the audit process, reducing the time and resources required to demonstrate compliance and respond to audit inquiries.
Training and Awareness Programs
Feature Description: Offers tools for developing and delivering employee compliance training and awareness programs. It ensures staff members understand their compliance responsibilities and are informed about relevant laws and regulations.
Business Benefits: Decreases compliance violations caused by employee errors by up to 20%. Effective training programs enhance employee understanding and adherence to compliance procedures, reducing the occurrence of unintentional violations.
Compliance Workflow Automation
Feature Description: Automates workflows for compliance tasks and processes, such as document approvals, compliance checks, and corrective actions. This ensures that compliance efforts are carried out consistently and efficiently.
Business Benefits: Enhances overall compliance process efficiency by approximately 30%, streamlining the management of compliance tasks and ensuring timely completion. Workflow automation reduces the likelihood of missed deadlines or overlooked compliance requirements, further minimizing the risk of non-compliance.
Compliance
Ensure Timely Compliance
Take Action, Boost Performance, and Mitigate Risk
Corporate performance management (CPM) refers to the way(s) a company monitors and manages financial results across the organization. The primary purpose of CPM is to compare actual results versus budgets and forecasts … and then adjust accordingly.
Financial performance management encompasses a range of capabilities, such as: defining Key Performance Indicators (KPIs); formulating strategic plans and forecasts; performance reporting; and optimizing operational efficiency and execution. Some of the primary areas where this process is utilized include:
- Tracking product/marketing expenditures vs. budget
- Assessing and managing Customer Acquisition Cost (CAC)
- Monitoring and adjusting cash flow
- Optimizing the impacts of foreign exchange (F/X)
- Analyzing real-time gains/losses
The INSTANT platform performs analytics on key metrics in real-time, so proactive (and corrective) action can be taken – and automated – over time.
It's All About Data
CPM also helps companies become more agile and prepared to face unexpected developments and events. It also contributes to better decisions via automated features like scenario modelling, rolling forecasts, and what-if scenario analysis.
INSTANT® incorporates KPI dashboards, real-time data, and dynamic plans that adjust (in real-time) based on actual performance.
- With INSTANT, your Finance team will gain a faster and clearer picture of what’s happening – enabling them to act (and react) more quickly.
- With INSTANT, you’ll spend less time on manual tasks such as data collection and data entry, which means you can focus on value-added activities like analyzing profitability, reducing costs, partnering with executive decision-makers, and developing more effective strategies.
CPM can also help companies to interpret large amounts of data quickly.
- Most global organizations are sitting on a treasure trove of information, but often times they don’t even realize it. If adequately analyzed and managed, this data can provide myriad insights about the current state of specific businesses as well as the most productive courses of action going forward.
INSTANT helps align your entire organization by compiling a single (centralized) data source. As a result, all decision-makers can collaborate on shared reports and perform a dynamic range of team (or independent) analyses – all based on a single data set that’s constantly updated.
