As newlyweds of three months, my husband and I couldn't be happier. We each got to marry our best friend, we get to see each other all the time, and we are even expecting our first child. But over these last couple of months, we've also learned firsthand that marriage certainly comes with a need for adaptation. Before we married, I was queen of my castle in my own apartment. The bed was always made, the kitchen was always clean, and the clothes were always folded neatly. I quickly realized that household perfection was no longer a guarantee when there was someone else sharing space with me (especially when that someone is not too bothered by disorganization). I know some couples turn to outsourcing—sending out laundry and hiring cleaning services. Others turn to technology, investing in robotic vacuum cleaners and mops to keep the floors clean. I tried a more simple approach--I suggested some process improvements. Let's make a deal: how about the last person out of bed makes the bed? If I cook, will you clean up? If you can simply separate your laundry out for me, I'll take responsibility of the folding. So far these minor process changes have been working for us and I'm pleased to report that our townhouse is tidy.
Like my home life, the financial industry has been going through a lot of change recently. RegTech and FinTech are the buzzwords of the day and new technologies are popping up everywhere. Technology has become infinitely faster, more efficient, and just plain cooler. But it's not really just the capabilities of the new tech solutions that drive this change--rather, the value of any technology is measured by the improvements it offers, which are often only realized when they are accompanied by process improvements. Does the solution improve efficiency? Does the solution make the daily workflows more seamless? Does the solution reduce risks? No CTO is going to implement a new solution solely because it is the latest innovation. It needs to be a benefit to the company that, in the long run, will improve their ROI.
CLEAR Compliance™ projects deliver on both—cool technology that drastically reduces manual work and the process improvements that eliminate the clutter that wastes the precious time of compliance professionals. CLEAR's Extractor AI engine allows IMP and our clients to process compliance documents faster and lowers the risk of overlooking requirements. In addition, CLEAR's requirement-centric structure highlights any rules in your rule library that may be missing, out-of-date, or redundant. The X-Flow module pulls together the tracking of projects, tasks, issues lists, and testing. The Dashboards enable instantaneous reporting on project statuses, issues lists, and rule library health. Finally, CLEAR's Kanban board streamlines the process of adopting updated compliance documents and adjusting your Rule Library accordingly. Thanks to CLEAR, the processes of conducting a project and maintaining your compliance library are now faster, more efficient, and have reduced risk of human error. This is where CLEAR's value lies--not only does CLEAR keep large, complex projects in check (thereby improving efficiency and reducing costs), but it also reduces the time and money it takes to maintain work that's already been done and reduce the risk of costly errors.
(Now if we could just design a module that can make a bed… 😊)