policyIQ is Far Less Expensive Than the Cost of Ineffective Policy Management

policybookJust a few months ago, we talked about the fact that Policy Management is an in-demand implementation area for policyIQ.  Again.  (This is, of course, where policyIQ got its start 10 years ago.)  It’s not surprising.  Regulation continues to increase in many industries, and companies with a solid foundation of governance through clearly written, easily available and effectively communicated policies are ahead of the curve in compliance.  Even the new Conflict Minerals reporting requirements within the Dodd-Frank Act reference a need for strong policies and procedures within the procurement and sourcing teams.

Just a few weeks ago, Michael Rasmussen, well-known GRC pundit with GRC 20/20 (as well as a fellow and frequent presenter for OCEG), had this to say about poorly managed policies in his blog post “Effective Policy Enforcement Requires Technology”:

Document-centric approaches to policies—that lack technology to manage communication and enforcement—are a recipe for disaster. While it appears easy and cheap to just use documents and send them out via e-mail, or post them in a file-share or Website, the reality is that the cost to the organization is significant in the exposure of ineffective policy management.

We are not an unbiased source, and so of course we agree whole-heartedly with Mr. Rasmussen and his belief that there is a need for technology to effectively manage your corporate policies.  If you aren’t yet using policyIQ to manage policies and procedures, we would encourage you to take a look at the checklist in Mr. Rasmussen’s blog post and determine how well your current solution stacks up.  If you haven’t been able to check off all of the boxes yet, contact us and we’ll show you how policyIQ can meet your needs!

This entry was posted in Industry News, Solutions and tagged , , by Chris Burd. Bookmark the permalink.

About Chris Burd

Chris is the Managing Director of the policyIQ group at RGP. She gets geeky about compliance and technology, and gets to spend every day working at the crossroads of the two. With policyIQ since 2005, Chris has worked with hundreds of policyIQ clients to implement technology and enhance their internal compliance environment. In the past few years, she's focused on enhancing policyIQ's offering as a Conflict Minerals and Anti-Corruption tool. In past lives, Chris worked as a system implementation consultant, a e-commerce specialist, a customer service call center manager, and - for one short but memorable summer during high school - a machine operator on midnight shift in a plastics factory. In her free time, she spoils her nieces, volunteers at her local food bank, and spends more time than she should taking photos of her cats. She would like to be a rock star when she grows up.

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