Policy Management Software

Policy Management Software:

Policy Management Software is a software that is used by organizations to keep their policies organized and up to date.
The creation and communication of organizational policies can be streamlined and simplified and a centralized policy portal can be provided to store and access the latest policies.

Features and Benefits of Policy Management Software:

The Policy Management Software has several features that can benefit the user in many ways to grow their business. Some of these include:

• A contextual view to policies can be delivered by mapping policies to regulations, risks, and controls, thereby strengthening compliance while highlighting potential risks.
• Policies can be brought to where you are engaging the first line and increasing policy awareness.
• The cycle times for creating, refreshing, and aligning policies can be reduced with evolving regulatory requirements.
• Employees can be engaged with the latest applicable policies and assurance can be gained that the organization is compliant with regulatory requirements. This can be done as the collection of evidence can be simplified with attestations and the policy exceptions can be tracked to mitigate the risk.
• Powerful reports and graphical dashboards can be leveraged for real-time visibility into the policy management program.
• The latest policies and announcements can be accessed, policy attestation can be performed, and policy exceptions can be requested in the centralized portal.
• Policies can be directly uploaded from your system, existing policies can be modified, or created from scratch in collaboration with relevant stakeholders.
• Policy attestations can be facilitated based on a chosen user or user group and attestation details can be tracked in reports.
• Pre-build best practice templates and workflows can be provided to simplify the creation, review, and approval of all types of polices and documents.
• Regulatory compliance can be supported by mapping regulations and standards to organizational policies.
• Policy or document search and retrieval can be streamlined and accelerated.
• The software enables enterprise-wide visibility into the status of policy and document management.
• The creation, review, and implementation of corporate policies can be managed across all departments of a company.
• It helps companies to ensure that the employees and business partners comply with corporate standards regarding issues such as security, privacy, inappropriate behavior, or breach of trust.
• The software can be used by compliance officers and executives to implement policy management on a company-wide basis.
• It can also be utilized by legal departments to ensure that the corporate policies are aligned with regulatory compliance.
• The software can be deployed as a standalone product or as a part of broader governance, risk, and compliance initiative of an organization.
• The software can be integrated with other solutions such as HR management suites, workforce management software, environmental health and safety software, and governance, risk, and compliance software.
• Customizable templates can be provided for different types of policies.
• Workflows and processes can be included to review and approve policies.
• A repository of all corporate policies can be delivered.
• Policies can be assigned and shared internally and externally.
• Noncompliance can be identified with internal policies.
• Corrective actions can be suggested to address noncompliance.
• The performance of policy management processes can be monitored.
• As the crucial documents and industry standards can be organized and managed, and you can train and test employees, and uphold proof of compliance, risk and liability of an organization can be reduced.