An Effective Compliance Program Reduces The Cost Of Compliance
Lately, we’ve been talking to a lot of our clients about compliance. Last week, I posted an article on how Microsoft Dynamics AX can help an organization transform compliance challenges into business benefits. I thought I’d stick with compliance again today.
Compliance requires recording, documenting, and reporting exactly what happened, when, and by whom. Compliance requirements are numerous and can vary throughout an organization. They affect the design standards, quality standards, processes, and reporting aspects of an organization.
Therefore, visibility and control of compliance-related processes and activities are key factors in managing a compliance program in an efficient way. An effective compliance program needs to be integrated into a single business management system. Instead of having data and information locked away in separate information silos, organizations need one central location for users to view, manage, and control the internal controls, business process content, and reporting for the organization's compliance program.
An effective compliance program helps ensure the following:
- Compliance requirements are being met and managed properly
- The organization efficiently adopts new compliance processes without duplicating efforts
- High level documentation is provided in cases where compliance tracking activities are canceled
- Procedures and mechanisms exist to systematically track:
- Risk assessment
- Requirement origination
- Responsibility
- Processes
- Supporting technologies
Microsoft Dynamics AX helps enable organizations to reduce the total cost of compliance out-of-the-box. Integration with other Microsoft products means that your people are working with one integrated solution instead of several disparate systems. The Compliance Center simplifies compliance efforts and helps keep business information secure through a comprehensive set of tools to manage and control sensitive business information and critical key performance indicators (KPIs).
And, because Microsoft Dynamics AX works like and with other Microsoft products it is people-ready meaning your people can get up and running quickly and focus on what’s important. This is significant because:
- One system makes it easier to manage security settings. Security is set up in one place – Microsoft Dynamics AX. Active Directory and Windows Single Sign-On means that the security settings still apply even when working with reports outside the application.
- It’s easier to train employees. Employees are working in a familiar working environment helping to lower learning curves so users can focus less on technology and more on their business goals. High user adoption enables people to comply with corporate procedures faster and easier.
- Maintaining one system is more efficient than maintaining several. Crucial information is entered into a one central repository helping to lower the cost of maintaining the system. It’s also easier to implement, customize, upgrade, and modify. Microsoft Dynamics AX provides the same version of code for Web and Microsoft Windows clients, which can lead to simpler, less expensive development and IT costs.
- Improved reporting helps drive smarter decisions. Get the right information to the right people in virtually any business environment with Microsoft SQL Server Reporting Services. SQL Server Reporting Services delivers a robust environment for creating, managing, and delivering traditional, paper-oriented reports, as well as interactive, Web-based reports and key performance indicators that help in managing compliance.
By actively managing a balance between compliance requirements and agile business practices within the organization, organizations can realize the benefits of reduced risk, increased operational efficiency, and the continued building of a foundation on which to grow.
