Regulatory change management (RCM) is a multi-process procedure that guarantees your organization's compliance with new regulatory changes. RCM entails receiving regulatory changes (rule additions or amendments), evaluating the consequences of those modifications on the firm's present obligations, upgrading the control activities, regulations, and procedures, and operating with the lines of business to verify those changes are socialized and implemented.
Benefits of Implementing Regulatory Change Management Software
For an extended period, manual techniques of trend prediction based on data analysis were utilized. Because the human brain can only perceive in particular ways, it is tough to design a Regulatory Change Management solution that is dependable and durable at all times and in all situations. The following are some of the numerous benefits of automated Regulatory Change Management software:
- Time-saving and cost-effective
- Notifies users for better collaboration
Predict360 Regulatory Change Management Software
The Predict360 Regulatory Change Management Software is the ideal solution for handling regulatory changes enforced by a regulatory authority. It is a standalone web-based tool and part of a comprehensive regulatory change management and learning management system.
The software is based on AI technology, which aids in developing automated procedures. It centralizes the regulation library while maintaining a uniform taxonomy. It also automates the translation of rules and produces the applicability of the regulations process, which assists an organization in mapping and applying regulations to a region, location, or asset.
Features
- Regulatory Examinations and Results Management, as well as project plans that track and manage various concurrent activities and integrated regulatory intelligence streams.
- Regulatory information, updates, and news from a range of other sources are all combined in a single stream, ensuring that you are always up to date.
- Based on risk mapping, an automated preliminary evaluation of the impact of modifications and the parts of the business affected by them is performed.
- Intelligent regulatory update parsing to identify changes and their application
- An executive picture of regulatory concerns across the company in real-time.
- Notifications to critical stakeholders regarding applicable audits, policies, regulations, and changed documents are sent automatically.
About 360factors, Inc.
360factors empowers organizations to accelerate profitability, innovation, and productivity by predicting risks and streamlining compliance. Predict360, its flagship software product, is an AI-powered Risk and Compliance Intelligence Platform that anticipates and mitigates risks while facilitating regulatory compliance. Predict360 integrates regulations and obligations, compliance management, risks and controls, audits and assessments, policies and procedures, and training in a single cloud-based SaaS platform based on artificial intelligence to provide predictive analytics and unique insights for predicting risks and streamlining compliance. 360factors is the exclusively endorsed solution provider for compliance management by the American Bankers Association (ABA). Visit www.360factors.com for more information.
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