All governments and regulatory bodies create and implement laws and regulations that businesses are required to abide by. Compliance is carrying out business activities whilst following these laws. It is an important area of every business as not complying with laws can incur financial penalties and reputational damage.
What is Compliance Management?
Compliance management is the process of ensuring legal obligations are met in every area of the business. Workplace compliance management deals with maintaining compliance with workplace laws and standards of behaviour expected from both employees and employers. Some of the major workplace compliance management functions include:
- Providing compliance training to employees
- Implementing robust workplace policies and procedures
- Employee records management
- Maintaining audit and compliance reports
- Provisions for incident, breach, and whistleblower reporting
- Conducting compliance and safety culture surveys
Compliance management includes maintaining a large amount of data to help generate reports when required during or after a compliance audit. Traditionally this was done using paper-based documents or spreadsheets as the only form of automation. This was time consuming for managers and HR personnel who were required to keep these records.
These types of records were also susceptible to errors and storing these records was also quite difficult. Loss of physical records in fire or theft in workplaces was also not unheard of.
What is Compliance Management software?
To combat with the above issues and with technological advancement, businesses can now implement compliance management software. These are the automated solutions to creating, storing, and retrieving compliance management data at the click of a button. Powerful software also allows businesses to track and manage all compliance management related activities.
Why do you need it?
All organisations must ensure high levels of compliance with laws and reduce non-compliance risks to avoid penalties and other consequences. In severe cases, non-compliance can trigger financial losses or fines. Compliance management software plays a significant role to help make repetitive tasks easier so that more time can be utilised for decision making and strategic planning activities.
Some of the reasons why your business needs compliance management software includes:
1. Faster processing
Automation offers a faster way of finishing compliance management tasks and processes that would otherwise require lengthy hours to document. It enables more time for tasks that hold more value and allows employees and managers to focus on them. Also, storing and recovering the data online is safer and faster.
2. Easy to use
These systems are designed to be easy to understand and used by all employees. Powerful dashboards and easy navigation make up their simple interface. Anyone can easily learn to use these systems and perform required compliance management tasks. This saves time!
3. Ensure compliance requirements
With an easy to use system, faster processing, and reduced errors, there is a reduced risk of non-compliance. Managers can now easily extract reports and maintain compliance with regulatory laws.
4. High return on investment
The aim behind businesses investing in new automation is to reduce costs and increase returns. Compliance management software helps ensure businesses achieve this by eliminating unnecessary tasks, speeding up the compliance management process, and making informed decisions.
What does Sentrient offer?
Sentrient’s online workplace compliance management software is a simple to implement, easy to use, and reliable solution that helps streamline workplace compliance in businesses of all sizes. Some of the pre-loaded features include:
- legally endorsed workplace compliance training module
- online course and workplace policy builder
- HR policy and procedure templates
- records management feature
- incident reporting
- breach register and whistleblowing
- compliance and safety culture survey tool
- ready-made reports
The takeaway:
Compliance management software has revolutionised the way businesses perform their compliance management functions and activities. Smart decision making translates to investing in smart workplace compliance management systems such as Sentrient. If you are looking for a way to simplify compliance management at your workplace, contact us today for a free demo.
This blog post was originally published here.
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