Connect with us
Connect with us to discuss how we can assist you with automating your compliance processes and the production of compliance reports.
Business Challenge
Compliance processes and reporting are time-consuming and inaccurate
The challenge you face
- Compliance processes are manual and time-consuming.
- The data used to produce compliance reports is unreliable and not trusted.
- There is no clear understanding of where compliance data needs to be sourced from. Different data source give conflicting information.
- Compliance reports must go through multiple iterations, with submission deadlines often missed.
- Management has a fear of reporting incorrectly.
Implications of not addressing the challenge
- Compliance reports are produced late.
- Incorrect submissions are made to regulatory bodies potentially leading to penalties.
What does success look like
- The business has an up-to-date view of regulatory reporting data.
- Regulatory reporting happens without a lot of manual input and work.
- Compliance submission are accurate and are submitted timeously.
Algonomix solution
- Automate the data sourcing, reconciliation, and aggregation processes.
- Automate the production of compliance reports.
- Produce the reports continuously and put in place checks and balances to determine if the reports are still correct.