Regulation and compliance are two words that most organizations associate with nothing more than increased overheads, but it doesn't have to be the case. They can bring opportunities to change and improve efficiency throughout a business!
In order to ensure that you comply with regulations, you have to analyse your processes. This provides a great opportunity to digitize processes and increase their efficiency.
For example, over the past ten years workplace incident reporting has become increasing regulated by both government agencies and self-regulatory bodies. Old processes using paper-based forms struggle to meet the regulatory needs, as inaccuracies in data collection and a lack of a traceable record make it difficult to ensure compliance.
Designing a new incident recording process, that leverages all of the benefits from a mobile enabled electronic forms and workflow solution, increases efficiency typically by more than 50%! This ensures accuracy when the data is captured and that every regulatory step in the process is completed. Of course, digitizing the process also adds the vital audit trail that demonstrates accountability and compliance to the regulator.
Whether your process area is in Healthcare Digital Transformation, Energy, Construction or any other regulated industry, re-designing and digitizing your processes for compliance can be a huge opportunity to reduce costs. This can be achieved through process optimization whilst also reducing operational risk by making processes transparent.
You also need built-in transparency and traceability. Transparency allows everyone involved to see progress and spot irregularities before they result in issues, reducing operational risk. Traceability however, allows you to demonstrate compliance to the regulator.
As a result, when selecting a digital process automation tool to help digitize your process, consider a system that is:
- Fast, so you can prototype compliance processes and manage expectations with business users
- Flexible, so you can change it when you need to cope with regulatory updates
- Friendly, so people will adopt it. You're not compliant unless people use the solution!
FlowForma Process Automation has all these attributes and more!
Interested in finding out more about how you can improve your process efficiencies whilst meeting regulatory and compliance requirements? Talk to one of our product experts to arrange a demo of our process automation tool or, why not try it for yourself and sign up for a free 30 day trial!