Process Visibility: A Compulsory Condition for Compliance
In today's highly regulated environment, enterprises are increasingly strained by compliance and risk management concerns, while at the same time having to promote the ongoing conduct of business. To meet regulatory requirements such as SOX and Basel II, CEOs and CFOs are specifically required to demonstrate capabilities for effective risk management, and to ensure corporate transparency and visibility. Current approach to compliance and risk management confronts a major challenge: while process-related content is unstructured and complex, it is managed either manually by a set of uncoordinated tools, hence reducing the capability to trace risks, prevent fraud, and ensure compliance. ProcessGene's Compliance & Risk Management solution offers an end-to end infrastructure for financial compliance management and for controlling the business operational risks.
The ProcessGene™ Suite enables the following compliance related operations:
- Map and document required business processes using standard based methods
- Encapsulate the data within a process model
- Establish and disseminate standard process terminology and hierarchy
- Enhance operational visibility by using a standardized toolset
- Provide clear understanding of the connectivity between business processes and supporting IT systems (e.g. SAP, Oracle, Microsoft Dynamics)
On ProcessGene's compliance solution: "Our Compliance Enforcer is different. When other solutions in this field seek compliance workflow automation, we prefer to aim at controlling management personal liability". Alan Schram, Managing Director US Operations, ProcessGene Ltd.
