By Neil Kinson, Chief of Staff, Redwood Software
You don’t have to be a bank or insurance company to know the value of having bulletproof compliance and governance structures in place.
In multi-national, multi-platform business, correctly handling and generating the masses of data required between on-premises, private and public cloud deployments around the world is a complex goal.
In reality, that complex goal is usually driven by less complicated means – often the completion of a series of relatively mundane and repetitive manual tasks, which in turn are carried out in search of more information, contacting customers, filling out forms, compiling data and so forth.
However, as with other areas ripe for huge automation gains, compliance and regulatory activity can be successfully automated with no additional capex costs using the Redwood RunMyJobs® solution. It leaves staff free to focus on higher-value work, such as the analytical side of the compliance role and keeping up with changes in regulations.
In addition to the morale benefits associated with removing mind-numbing tasks from an employee’s responsibilities, automation provides the glue that ensures complete oversight and control for anyone directly involved with compliance and regulatory activities.
By automating processes – including those associated with compliance and governance requirements – businesses get fully auditable, automatic documentation of exactly what happens along with with version control and rollback capabilities.
User-level security built into the solution reduces risk through user-definable rules, structures and policies. Automatic monitoring and notification mean that you can be confident that you meet every service-level agreement for customers, too.
With the growth and convenience of tools now available to businesses, the trickiest part about scaling operations efficiently is ensuring that each individual tool isn’t creating a new silo of functionality. Every new silo creates another technical headache for process integration.
With a centralized management structure for automated processes, the cost – and complexity – of this administrative work drops.
Whether it’s automatically creating an audit trail for any action executed, or directly automating the repetitive work of compliance officers to free them up for more valuable tasks, automation can lighten the load at every step.