VComply Editorial Team

Workflow Automation for Compliance Programs

In a world where efficiency is king, it comes as no surprise that the practice of workflow automation is as popular as it is. Every process has some form of workflow to go through, and these often include several manual tasks, which increase risk exposure due to their inherently error-prone nature. Workflow automation addresses this lack, working on a company-wide scale. For instance, as per data published by the Annuitas Group, marketing and process automation drew in a 417 % increase in revenue.
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How to Choose a Risk Management Solution?

Gartner research shows that only the better-prepared enterprise firms developed contingency plans much before situations worsened in the wake of the unprecedented Coronavirus pandemic. With obvious management and operational risks, and additional cybersecurity risks (there was a 273% rise in cyber attacks in Q1 alone), risk management has become essential for enterprises to both survive and thrive.
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What is a Risk Management Plan?

Every organization faces certain types of risks in business. Any factor that threatens an organization's ability to achieve its goal is considered a business risk. The major categories of risks to consider are: strategic risks, compliance risks, financial risks, and operational risks. Another important way to categorize risk is based on the source of the risk and see whether they are internal or external risks.
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