Maybe “policyIQ” should be called “grcIQ” or “auditIQ”!

Policy Management ProcessI’ve told the story a few (hundred) times…the development of policyIQ started nearly 15 years ago with its roots in “Effective Policy Management”. It then grew with intention into the Risk, Compliance and Testing arenas—with the signing of the Sarbanes Oxley (SOX) Act—only to be discovered as the easiest to access and use tool on the market and, therefore, wildly exploited for innumerable uses.

Outside of the SOX and Audit world, the tool that was “in the cloud” before “cloud” was a technical term, began to gain popularity for administration of Account Reconciliations and Contracts and was used for the automation of a wide range of processes, such as Capital Appropriations Project Review and Environmental Health and Safety documentation and certifications.

A few years ago, amidst the noise of demand pulling us in many different directions, the policyIQ team made a commitment to focus the development of our product squarely on serving Governance, Risk and Compliance needs. While it was already possible to track the results of risk assessments (the assessment performed outside of policyIQ at that time), associated risks, controls, tests, deficiencies, remediations, policies, and any number of other types of pages in policyIQ with our easy to customize templates, we knew that there was a gap we needed to fill to make policyIQ more accessible, user friendly and refined for our compliance and audit clients. We set our sights on the seventh generation of policyIQ and, since spring of 2013, moved forward with four GRC-focused releases, plus version 7.4 which is now in testing.

GRC Focus

Check out some of the related benefits for the compliance and audit communities!

Prior to version 7

Leading up to the development and release of policyIQ’s seventh major installment, our product and account managers met with many of our clients in exploratory interviews learning what they thought was missing or could be greatly improved in our product. We learned quite a lot about the “real world” practices of our users and considered ways that we could better represent their processes in a streamlined fashion in policyIQ. Prior to the introduction of GRC-related features, we set out to help companies better prepare Page Templates and the Folder structure to capture Audit Projects/Programs and the resulting Audit Test pages. While there are many “right” ways to organize, assign, review and finalize testing work, we helped many companies to better configure policyIQ to support their desired process.

Features Already Released to the policyIQ Community

In the last year and a half, policyIQ has added some features to close the gap between the more generic policyIQ “content management” community and GRC community. Now policyIQ users can…

  •  Access policyIQ from any major browser
  •  Automate their Risk Assessments by taking advantage of Calculated Fields
  •  Better handle workpapers and evidence with the improved file upload features
  •  Streamline and track multiple auditors’ and reviewers’ contributions using these features:
    • Track Changes to identify the contributor and their adjustments with a date and time stamp
    • “Approvers Can Edit” content without having to be added as Page Administrators and then carrying out multiple Check-In, Check-Out steps.  Much more streamlined!
    • Comments – this functionality used in policyIQ Forms has been added to Pages.  We also plan to further integrate comments into the page body in a future release.

Coming Soon

We are very excited about a number of developments in the next release of policyIQ—version 7.4. This release is so significant that we have wondered if it should be called version 8! Look at what’s coming soon!

  • Work offline – The ability to work offline and to otherwise simplify the addition of content to policyIQ will be possible with an enhancement to our Import utility that supports the updating of policyIQ pages (not just the addition of content, but the ability to change content using imports).
  • More easily review and monitor status – Version 7.4 includes the ability to run your policyIQ Reports on a schedule and then to email the results to you and any number of others.
  • More simply review Testing-related workpapers with several new reporting filters and display options, including the ability to list Page Attachments and Links in report results.
  • Support Time and Expense Tracking – You heard that right…we are introducing an entirely new set of features dedicated to supporting companies with tracking estimated and actual time and expenses by audit project, test or task. It is possible to summarize and total the estimates and actuals, to relate them to specific Tests and to focus on T&E related to a specific auditor. This is just the beginning—we expect to continue to refine and enhance this functionality in policyIQ to help users in our audit community to work more effectively and efficiently!

And more on the horizon

We continue to seek feedback from our compliance and audit communities and have marked more than a dozen related features as high priorities for our development team to get started on. Many of our higher priced competitors have a bad habit of overpromising and underdelivering. Members of the policyIQ community know that we work hard to have the opposite reputation–letting users know exactly when their suggested features are in development, considered a priority, and even when a request might be identified as out of scope. We are sincerely grateful for our partnership with our user community! So, while I can’t make any promises, I am also hopeful that we might be able to sneak a couple more “high priorities” into version 7.4 that I have spoken with clients about in recent weeks. We’ll keep you posted!

Thank you!

Thank you for your ongoing partnership to make policyIQ your GRC tool of choice. We couldn’t do it without you and look forward to hearing from you soon with more feedback and feature requests. And maybe with suggestions for a more appropriate product name!

This entry was posted in Features, Solutions and tagged , , , by Stephenie Buehrle. Bookmark the permalink.

About Stephenie Buehrle

Stephenie is the “solutions” expert on the policyIQ team. With RGP since 2004, she designs and develops solutions that capitalize on the best practices of the hundreds of companies that she has touched, while tailoring each configuration to meet the unique needs of each client. Before joining RGP and the policyIQ team, Stephenie enjoyed working as an independent consultant in the non-profit sector. Stephenie also previously performed analyst services for a major brewer ranging from roles in biological and chemical services to analytical roles in business process improvement and innovation. Stephenie quips that she still doesn’t know what she wants to be when she grows up, but hopes to spend her days helping others (companies, individuals, and communities) to realize their full potential.

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