5 Things You Never Knew About PolicyHub
The big recent news for PolicyHub policy management software users ? That it now couples with Mitratech’s TAP forms and process automation software to provide disclosures and exceptional functionality.
So with good reason, that’s the news that leads off our “5 Things” list. But there’s a lot more going on with PolicyHub that you might not have realized. Check it out:
Optimized Policy Effectiveness
With TAP Workflow Automation now paired with PolicyHub policy management software, you can start managing exceptions and disclosures in a programmatic way (i.e., identifying and numbering them). So, issues such as gifts and entertainment disclosures, conflicts of interest, policy exceptions, and employee legal questions are easier to handle.
That’s a game-changer because tracking and reporting on exceptions and disclosures have long been the major blind spot for compliance teams. In fact, a KPMG report found that only 47% of chief compliance officers say that their organization has an enterprise-wide reporting system and across functions and business units that integrates with compliance monitoring. But now with PolicyHub, it becomes possible to manage your risk more effectively overall. Sharper oversight of exceptions builds predictability into policy operations, and accelerates disclosures and resolutions.
Employee User Interface
Most policy management software tools in the marketplace have a single user interface – one that’s designed for administrators, and not very easy to use for regular employees. PolicyHub is different. It’s one of the only policy management software solutions to have a dedicated employee front end. As the industry’s most intuitive solution, PolicyHub makes policy communication and reporting simple and straightforward. Your employees won’t need special classes, instruction or training either – they can start using PolicyHub right away.
Policy management tools tend to be designed for specific vertical industries or types of organization, most often targeted toward the financial services sector, manufacturing, retail or multinational corporations. That’s an approach that might make sense for highly established companies that have no plans or prospects for growth, but it’s not at all appropriate for today’s fast-moving organizations that are pioneering new business models in technology, machine learning, the IoT and other cutting-edge sectors.
PolicyHub is specifically designed to accommodate the needs of any size organization in any vertical industry. With minimal IT resource needs, you can rollout and go live with PolicyHub in as little as 30-60 days. It’s also available as either SaaS or on-premise, depending on what works best for you. So, it’s readily scalable to grow right along with the speed of your business.
HR Data Feeds
PolicyHub now has the ability to accept data feeds from your HR system of record to incoporate an additional level of employee demographics, essential for having the granular level of distribution of policies to the right employees, in the right location, at the right time.
With this kind of ability to utilize HR data feeds, you can not only take your policy compliance monitoring to truly granular levels, but also manage noncompliance escalations through all levels of the organization.
Measure Your Savings!
How much can you save by transitioning your organization to PolicyHub policy management software? We can give you specific numbers. Check out our ROI calculator to learn more. It’s free to use, and you’ll only need to have a few data points handy to get an accurate readout:
- Number of employees in your org.
- Number of policy searches per employee, per month.
- Time spent creating, reviewing or approving policies.
- Time spent pursuing employee attestations.
We were so excited to share all the recent updates to PolicyHub that we’re putting together a series of infographics that tell the new PolicyHub store in detail. Check back soon to download them. Or in the meantime, take advantage of the free resources available via the links below.