“Increased corporate spending for compliance and corporate governance is having a significant impact on IT budgets, IT financial compliance management spending will increase to between 10 percent and 15 percent of IT budgets in 2006, up from less than 5 percent in 2004.” - Gartner’s 2005 Financial Compliance Management Survey

Enterprises have realized that compliance is here to stay. Whichever industry you are in, you have been impacted by the burgeoning costs of compliance. You need to reduce costs and fast while being sure that there are no legal or financial implications. Understanding our customer needs we have developed our approach to compliance:

• Ensure that enterprise wide regulatory compliance initiatives are aligned. This can provide economies of scale and reduce effort overhead.
• Invest on the establishing the initial framework onsite, control documentation however testing of controls could be outsourced offshore or onshore.
• Map the As-Is process architecture and document it thoroughly.  
• Use a compliant BPM platform to consolidate and implement enterprise processes. This ensures consistent and transparent process implementations with sufficient auditing capability. 
• Automate all possible manual actions dealing with data. Ensure data integrity is checked at all critical interfaces.
•  Implement a document management system and supporting processes to maintain critical artifacts versioned and with sufficient trackback.
• User and role management processes need to be incorporated and followed rigourously especially for financial systems.
• Perform periodic reviews of process, improve/optimize and redeploy.

Approaching compliance from a business process stand point enables process optimization while ensuring regulatory requirements. 

Learn more about our Subpoena Processing Automation solution.

Contact Us to learn more about our cost effective compliance services.