Neota Logic for Compliance & Risk Management
Compliance and risk management work has never been more challenging.
With increased outsourcing comes increased risk. Compliance officers are expected to use their finite resources to implement effective compliance policies that both manage risk and promote a more "risk intelligent" culture. They are expected to interpret and implement increasingly complex and costly regulatory requirements while facing a rising time/cost burden from generating and reporting data to federal and state regulatory agencies.
Companies can streamline some of these processes and reduce risk exposure by exploiting advanced technology to systematize aspects of compliance programs and packaging such systems for use by internal support teams and clients. Neota Logic's technology enables a systematic approach to remarkably complex areas of expertise, far beyond what can be done with business rules, collaboration, project management and workflow tools alone.
With Neota Logic applications, company compliance and risk management departments will:
Get advice from compliance experts in an operationally useful form — Using outsourced compliance experts is time-consuming and costly. Rather than receive a flock of memos from outside regulatory counsel, organizations can ask their outside counsel to build expert applications that deliver advice in a useful, practical form.
Improve implementation of compliance programs — Effective enforcement of a compliance program is an increasingly difficult mandate. Companies can increase adoption and reduce potential risk by delivering situation-specific advice through interactive applications on the company intranet. Managers and other business people can get consistent and swift guidance around the clock and across the globe.
Reduce non-compliance risks — Neota Logic applications can provide accurate, consistent and swift guidance to business people before problems arise, at a time when mistakes are easier to prevent and corrective actions can be taken economically.
Reduce implementation costs — Compliance programs must be communicated, applied, monitored and audited. Applications can gather and convey relevant information, organize the information in a report, and e-mail the inquiry and supporting information to compliance officers or counsel for review and action.
Leverage in-house compliance officers' expertise more effectively, without adding staff — Neota Logic applications can document and deliver the best thinking of the company's best experts, anywhere, anytime.