Are you looking for ways to cut compliance costs, save time, and reduce risk with less work? In a world of ever increasing regulatory and compliance demands, you need every advantage you can get to manage risk efficiently.

Emerging technologies represent exciting possibilities for the future of compliance management. Having already revolutionised many departments with cheaper, easier and more efficient ways of working, Xapify have identified three technologies that are ripe to change the way you approach compliance management:

1. Cloud computing
2. Mobile technology
3. Big data

Each technology brings it’s own unique benefits which can help you manage risk and compliance efforts more effectively:

 

Cloud computing

Key benefit: speed

When you connect business systems to the cloud, you get instant access to data. For compliance, that means a world of difference in reporting capabilities. Why does that matter? Imagine your site has a serious incident and auditors are called in. If your compliance data is stored in the cloud (as opposed to in spreadsheets throughout the company, or worse in filling cabinets), you’ll have data to hand to prove compliance right away. This can mean the difference between resolving an issue in an afternoon, and having your site shut down for days or weeks.

 

Mobile technology

Key benefit: flexibility

By now the days of old-school paper based audits should have gone the way of the dinosaurs. Paper based compliance audits are prone to human error, slower to roll out and take longer to process.

Using mobile technology (such as Xapify Observational Checklist) to manage compliance audits out in the field, you’ll be able to:

1. Respond to regulatory changes quickly by rolling out new compliance checklists in the click of a button
2. Sync compliance data to the cloud for instant access
3. Save wasted time processing paperwork (learn more with our business case guide at the bottom of this post)

Key benefit: understanding

When business processes are entwined with technology, the output is data.

At its core, data is simply a record of what has happened in your business. Analysing compliance audit datasets will let you develop a clear understanding of what’s really going on in complex situations (remember, numbers can’t lie):

• Find out where your business is most exposed to risk
• Pin-point skills gaps that are creating compliance risk (and the training that’s needed to mitigate those risks)
• Project future training requirements and personnel needs

When it comes to complex business situations, there aren’t many more difficult than a large organisation’s compliance and risk management. But by leveraging cloud computing and mobile technology for compliance reporting, you’ll have a wealth of data at your fingertips that you can analyse to understand the risk profile of your organisation clearly.

These emerging technologies have arrived and are ready for action. They’re here to add a new level of speed, flexibility and understanding to your compliance program.

At Xapify, we’ve developed a set of unique cloud-based mobile tools that enable big data reporting. We’ve already proven the benefits for many of Australia’s leading companies. Will you be next?

To see how our mobile technology can lower your risk, while saving your business time and money, download our business case guide today:

Bullet-proof Compliance: Building a Business Case for Mobile Technology Enabled Compliance Risk Management.