Compliance workflow automation removes the rocks in your compliance process, smoothening your way to compliance. Although it has its advantages, it also comes with a set of challenges. To give you complete information about compliance workflow automation, this article presents its definition, importance, challenges, and the best practices to implement it. Keep reading to know how you can boost your compliance process.

What Is Compliance Workflow Automation? Defined and Described!

Compliance workflow automation is the process of using Artificial Intelligence (AI), Machine Learning (ML), Robotic Process Automation (RPA), data analytics, and visualization in your compliance process. The said technologies simplify and streamline your compliance tasks, saving you time and effort.

Based on the definition offered by Science Direct, workflow automation is the process of using technology to automate processes and tasks that would otherwise be done manually or with significant resources, allowing for highly efficient and compliant operations.

Importance of Compliance Workflow Automation

Science Direct states that automation is key to exhibiting compliance and sustaining it over time.

Compliance workflow automation pours accuracy, scalability, and simplicity into your compliance process. It further facilitates real-time monitoring, notification/alert generation, and report generation to ensure that you are kept informed about every small to huge detail of your organization’s compliance process.

Moreover, the instant and automatic evidence documentation supports your compliance efforts and lets you maintain accountability and transparency. You’ll never have to struggle with proving your sincere efforts to achieve compliance. Along with this, the reduction in the manual effort due to automation cuts down the extra operational and employee costs. You’ll be able to do more in less time – all while utilizing minimum resources and employing fewer compliance team members.

Struggles of Automating Your Compliance Workflow

Automating your compliance workflow isn’t free of struggles. From the compliance teams fearing and resisting the change, and possible security concerns to a lack of technological awareness and monitoring confusion, there are multiple struggles that an organization has to deal with before achieving complete workflow automation.

1. The Fear of Change

Change is uncomfortable – especially when it’s about accepting a technological advancement in your compliance workflow. Your organization’s compliance officers or teams might not be ready to work on a completely new system.

2. Concerns About Possible Security Issues

Going all the way from a manual compliance workflow to a fully automated compliance workflow might give rise to security concerns. You might not trust the automated workflow regarding the security of your compliance documents.

3. Lack of Technological Knowledge

Lack of technological knowledge and awareness is a big hurdle in implementing compliance workflow automation. No matter how expert your compliance teams are at their job, they may or may not be tech-savvy.

4. Monitoring Confusion

Monitoring confusion concerning the automated workflow is another challenge that an organization has to deal with. How will it be possible to check if your compliance workflow automation is producing effective enough results?

Best Practices to Achieve Compliance Workflow Automation

Considering the above struggles, following some best practices can help in workflow automation. So, identify the existing compliance processes that can be automated, train your compliance teams, engage with technology experts, ensure data security, and continuously monitor the automated tasks.

Look Into Your Existing Compliance Workflow

Look into your existing compliance workflow, and identify the tasks that can be automated. This way you’ll know which processes need more of your focus while implementing automation.

Train Your Compliance Teams

Conduct training sessions for your compliance teams to ensure that they fully understand the automated compliance workflow, and can easily use it. You can even put forward the benefits of automation to build their interest – helping them to accept and leverage the automated workflow.

Prioritize Data Security and Integrity

It’s crucial to maintain data security and integrity. While you focus on other technologies, don’t forget about aligning with the data protection regulations and applying robust data security techniques like setting up access controls, encrypting your data, creating backups, and using cloud storage.

Engage With Technology Experts and Vendors

Collaborating with technology experts and vendors offering compliance automation software can help you understand their products and the value they can add to your organization’s compliance process. Later, you can assess each software based on your organization’s requirements, and choose the most suitable one.

Continuously Monitor and Improve the Automated Workflows

Once you have automated your compliance workflow, don’t stop at it. Regularly monitor its impact and make necessary enhancements. Always ensure that you are leveraging the technologies to the fullest.

How Can ComplyNexus Help You Automate the Compliance Workflow?

ComplyNexus is a compliance workflow automation software. You can use its cloud version or deploy it locally on your system. It uses advanced technologies to ensure that your compliance process is smoother and simpler than ever before.

From its AI chatbot interface, and its ability to obtain missing documents and generate gap analysis reports to its AI-based collaboration tools, live analytics, and summarization feature for complex compliance controls, you’ll find it to be an advanced system that fulfills your compliance automation needs.

Conclusion

According to this post, compliance workflow automation refers to the use of various technologies in your compliance workflow to simplify it. These technologies include Machine Learning (ML), Artificial Intelligence (AI), Robotic Process Automation (RPA), data analytics, and visualization.

Looking for a recap? Get it below:

• Compliance workflow automation removes manual errors and makes your compliance process scalable.
• Automation lets you maintain transparency and keeps you informed about all the compliance details.
• Compliance automation is a time-saver, cost-saver, and effort-minimizer.
• The compliance teams might struggle with automation due to fear of the change, security concerns, monitoring confusion, and a lack of technological awareness.
• Training your compliance teams regarding different technologies, and using reliable compliance automation software can help with workflow automation.

Lastly, if you have any specific concerns regarding the same topic, reach out to us at ComplyNexus, and we’ll sort them out for you.