Make policyIQ part of your budget for next year!

For many companies, October means 2016 BUDGET TIME!  While there is plenty to consider in terms of adding or trimming from your budget, policyIQ should always be part of your business.  In fact, we’ve found that many of our clients have chose to expand their policyIQ site into new areas of their business!

While some products charge “an arm and a leg” for their software, policyIQ continues to keep costs affordable–meaning a relatively large implementation can be purchased for under half the cost of our competitors.  

Just take a look at all of the business needs that policyIQ has solved over the years:policyIQ_uses

policyIQ saves you money by automating various processes and streamlining documentation.  Many of our clients use policyIQ Pages house audit documentation.  Pages come with complete customized security, meaning some users can have exclusive access to edit and create new content, while others have read-only access to all the essential documents.

Forms make certifications and sign-offs a breeze, as Administrators can deploy hundreds, even thousands of forms in just the click of a mouse.  Responses are organized and aggregated in simple reports, allowing Approvers to quickly scan through answers and find problem areas that require follow up.  Have employees need some nudging to get their forms in by a certain date?  Automate the follow-up with email reminders that keep after your users until their work is complete.

policyIQ can handle many business needs at once.  Do you see an area in your business that could use the help of policyIQ?  Send us a message, and we can give you an open and honest assessment for FREE.

So why pay for multiple tools when policyIQ can handle them all?  Save money on next years budget and let policyIQ handle many of your processes.

Need a push? We’ll help you to get things done with Custom Support Services!

yay-10260170One of the most important lessons I learned in my career was to know when to ask for help. (I had to learn that one the hard way, so it certainly has stuck with me.)  Trying to figure something out on your own is a good way to learn, but if you are already overtaxed with other work or if you are just spinning your wheels, you should feel comfortable asking for a little push.

We’re happy to push you

Okay, this might not be the best metaphor

The policyIQ team is committed to empowering our users with the skills they need to manage their policyIQ application on their own. However, we’re also available to help you when you just don’t have the capacity or resources to get it done

Have you explored Custom Support Services

Our policyIQ team offers a menu of Custom Support Services to help our clients to be successful. We’ve listed the most common tasks that we are asked to perform for policyIQ clients, such as:

  • delivering custom training sessions,
  • creating reports or custom queries,
  • helping to roll forward audit testing for a new year,
  • or updating configuration settings.

Take a look at the suggestions we’ve pulled together of things we might be able to assist your team with!

Most services are offered at an hourly rate, and with the deep experience of the policyIQ team performing the services, we aim to keep those hours as short as possible! This list is not all-inclusive – and we’re happy to discuss your needs to determine if and how we can assist your team.

Need additional help on a project basis?

RGP has a large community of consulting professionals who can assist your organization with larger project needs. If you want to optimize a process, implement a new compliance initiative or just get policy documentation updated, we’ll connect you with our local representatives to find a consultant with the right skills.

Contract Review for Revenue Recognition Standard made easy using policyIQ!

Contract cycleMany companies have observed and taken advantage of the capability of policyIQ to better organize and keep track of their contracts and agreements. policyIQ is serving organizations as a data room for negotiations and as a place to review and approve various amendments and provisions. policyIQ Reports greatly simplify the monitoring of agreements, milestones and key reporting dates, leading to greater assurance that the organization and contracted parties are in compliance–or at least allowing them to more quickly identify issues and indications that they may be out of compliance. Personnel can be alerted when they are approaching the expiration date of an agreement so that they can begin gathering necessary measurements and prepare to renegotiate the contract. policyIQ is helping companies to gain efficiency and effectiveness in a wide range of areas throughout the contract lifecycle.

Have you established a controlled approach for reviewing your agreements?

With the new Revenue Recognition Standard released in May of this year, we are seeing a surge in interest for a tool to help companies get a handle on all of their arrangements. At the very least, putting all agreements in a database allows companies to separate those that qualify as Contracts (having commercial substance, approval and commitment to perform obligations from both parties, and identification of rights and responsibilities by both parties) from those that do not. Per the Standard, all will need to be tracked and reassessed quarterly. With the customizable nature of policyIQ’s Page Templates, an organization can further capture critical information such as the Performance Obligations in an agreement, the Transactional Price, the periodic review of the Transaction Price, allocation of the Transaction Price, the date that the Performance Obligation is satisfied, and recognition of the revenue.

Easily Monitor Compliance

By tracking critical variables, companies can home in on specific information at any given point and monitor the current status of agreements, obligations, recognized revenue and, perhaps more importantly, those agreements that are falling out of compliance or out of the terms of the contract.

How are you keeping track of your Revenue Recognition project?

We also want to remind you that policyIQ serves as an easy to use central hub for capturing and sharing your project plan, checklists, supporting documentation, and monitoring the status of your project to review your agreements and comply with the new standard.

RR Standard Image

Need help understanding and implementing the Revenue Recognition Standard?

Our firm, RGP, has been working to help clients better understand the new Revenue Recognition rules. In a recent webcast, Shauna Watson (RGP’s Global Managing Director of the Finance & Accounting Practice) examined the new rules and changes from current GAAP, giving attendees an understanding of the recognition, measurement and reporting requirements of the new standard, likely impacts to their industry and their organization, implementation challenges, and keys to a successful implementation. A follow-up session focused on the impacts to specific industries. We also want to invite you to attend the next installment, presented on September 22, 9am PT/12pm ET: “Revenue Recognition Webcast Series Part 2: How to Begin Implementing the New Standard”.

Let us know how we can help!

If you’re ready to sit down one-on-one with an expert on the rules of the new standard, reach out to us and we will connect you with your local RGP representative. Of course, you can contact support@policyIQ.com anytime to request assistance with configuring your policyIQ site to accommodate any workflow, documentation or reporting initiative—no additional modules to purchase!