Why Level Up With Paired Policy Management + Workflow Automation?

The new ebook we just published explains how coupling these two solutions is reducing risk, adding agility, and delivering quick ROI for governance and compliance teams.

For many years now, corporate legal and governance teams have used policy management platforms to carry out the day-to-day tasks associated with communicating policy and procedures across the organization. The commercial policy management solutions on the market today generally do a solid job of ensuring that policies are efficiently managed and enforced, and accurately maintained, distributed, and attested to.

But it’s also true that dedicated policy management tools fall short when it comes to addressing issues such as exceptions, disclosures and other matters where context, nuance, and uncertainty come into play. This set of issues is the subject of our new ebook: Level Up With The Paired Approach:  Policy Management + Workflow Automation.

Bringing workflow automation to policy management: a better way

As a leading provider of technology solutions for corporate legal teams, and one with a diversified portfolio of offerings, Mitratech is in a unique position to observe and understand what’s working and what’s not working in the real world when it comes to legal tech.

One trend that our product and solutions engineering teams have seen in action over many years? That automated workflow technologies can dramatically improve all kinds of legal operations.

To name just a few positive outcomes, automated workflows can accelerate processes like getting NDAs distributed, signed, and returned up to 20x faster. Something as simple as E-signatures can slash document turnaround by 80%. And, embedding best practices and compliance into workflows makes it possible to automate repetitive tasks to reduce human error while also cutting the costs associated with policy management and compliance.

Hence, an idea:

Current policy management platforms can’t really provide full visibility into the full range of non-compliance risks. What if we tackled this problem by bringing our best-in-class workflow automation into the mix?

So that’s what we did.

Taking aim at the thorniest exceptions & disclosure challenges with paired policy management + workflow automation

To be specific, the blind spot for policy management technologies has been with exceptions and disclosures in general, but with four specific instances in particular:

• Gifts and Entertainment Disclosures – Disclosures around the nature, context and value of gifts provided to employees.
• Conflicts of Interest – Disclosures around flagging and communicating potential conflicts and tracking those conflicts over time.
• Policy Exceptions – Issues around accommodations that may need to be made for employee healthcare exceptions, device needs and so forth.
• Legal Questions – Issues around how to address employee concerns arising when new policies come online or existing policies get changed.

These four challenges are distinct, yet they share a set of common attributes that make them directly addressable by workflow automation: a) policy implications are uncertain; b) circumstances can change over time; c) communication threads to manage these issues are likely to be complex, and need to be preserved in order to comply with audits and regulatory inquiries.

The ebook sets out how Mitratech’s TAP Workflow Automation offering can be paired with our PolicyHub solution to overcome these challenges. We drill down into four detailed use cases where automated workflows are uniquely equipped to resolve the complex issues around communications, document handling, and risk-mitigation that arise with exception and disclosure handling.

We also explain why it’s crucial that policy teams adopt paired policy management + workflow automation technologies that deliver a single-vendor approach, incorporate superior ease of use for end users and fast onboarding, and can quickly scale to accommodate fast organizational growth.

Understand the impact a coupled solution can have on your GRC operations

Download the ebook now to learn how our users are leveraging paired policy management + workflow automation to:

• Drive significant ROI through automation of manual processes.
• Increase visibility into policy-related risks through automated logging, process and resolution of exceptions and disclosures.
• Promote the granularity required by regulators for an effective compliance program.

Stay tuned: We’re working on an infographic that will tell the paired policy management + workflow automation story in a lively, colorful style. Look in again here at The Mitratech Blog in the upcoming weeks to check it out.