risk and compliance automation

Compliance
Automation

By deploying automated compliance solutions, organisations now have the opportunity to increase efficiency and the quality of work; thereby increasing their competitive advantage in the market.

Checkbox’s automated compliance solutions enhance an organisation’s risk management capabilities by automating compliance decisions, workflow, and reporting.

Why is Compliance Automation Important?

Automation reduces the need for many ad-hoc manual communications (e.g. email, telephone, face-to-face meetings) through automated workflow, decisioning and trigger-based notifications. By deploying automated compliance solutions, organisations now have the opportunity to increase efficiency and the quality of work; thereby increasing their competitive advantage in the market. This therefore in the era of growing financial and non financial regulations, is a fundamental ingredient for commercial and operational success allowing organisations to cater to more demanding customer expectations.

Use Cases for Compliance Automation

Even with a quality team of compliance experts operating at scale, the sheer volume to GRC work often means that the risk of non-compliance in meeting obligations is exacerbated. Checkbox empowers expert automation to ensure nothing is missed, incorrectly assessed, or lost in communication; and it enables this to be achieved at scale.

use cases
compliance automation use cases

Compliance automation is best deployed to automate manual, repeatable processes and workflow. Often this is considered low value work, but not always. At scale, there is enormous value in creating no-touch and low-touch compliance activities in both low and high risk work. In both cases, automation gives time back to GRC teams, but also increases the quality and accuracy of outputs.

At Checkbox, we’ve come across a number of common categories of use-cases for compliance automation:

1. Claims review audit
Digitise your audits to retain 100% compliance with regulatory bodies with less cost

2. Information Security Risk Assessment
Quickly automate information security risk assessments to keep information systems secure at all times

3. Automated Vendor Audits
Configurable and automated controls to enhance compliance and standardisation

4. Business Innovation Risk Assessment
Automate risk management of business innovation ideas with proactive, empowered front-line teams

Benefits of Compliance Automation

With the deployment of automated compliance technology and solutions comes opportunities for organisation to
increase their competitive advantage. This is a fundamental ingredient for commercial and operational success in
the era of growing financial and non- financial regulations, as well as more demanding customer expectations.

Some benefits of legal automation include:

Consistency & Quality – Well-defined automated compliance and risk processes provide a new level of consistency and a reduction in errors. Expert automation empowers consultants to ensure nothing is missed, incorrectly assessed, or lost in communication.

Standardisation – The snowballing landscape of governance, risk and compliance requirements leaves most businesses working across multiple standards. Despite major overlap, current approaches are fragmented and inconsistent. Expert automation cuts out that duplication by design.

Efficiency – Compliance workers spend over 30% of their time on non-value adding activities; emails, spreadsheets, duplicating documentation, rework, fixes and internal discussions to make sense of it all.

Data capture & analysis – Automation technology allows access to data that is often not captured in existing manual methods of working such as email, spreads sheets and phone calls.

Checkbox as a Compliance Automation platform

The Checkbox automation platform empowers GRC professionals teams to build automation tools using drag and drop. Trusted by the best brands globally across risk, governance and compliance teams of all sizes, Checkbox has been a critical piece in their digital transformation journey, providing not only the best in breed automation technology but the expertise to ensure success.

Checkbox is known for being the easiest to use, yet powerful automation platform available. Combined with our deep expertise in automation and transformation, we are excited to demonstrate to you why the best continuously choose Checkbox and why they always succeed with us.

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Suggested Resources

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The Advantages of Leveraging Technology for Risk, Assurance and Advisory Practices

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