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StarCompliance Elevates External Activity Compliance Management

StarCompliance, a leader in employee and enterprise compliance technology, has recently upgraded its compliance software for managing external business activities. This move addresses the growing need for effective supervision of employees engaged in side jobs, consultancy work, or volunteer roles, which can pose significant compliance risks if not managed properly.

Understanding External Business Activities and Their Risks

Companies globally require employees to disclose any work outside their primary roles. This includes secondary jobs, consultancy, or even significant voluntary positions, like board memberships in charities, to identify potential conflicts of interest. Proper monitoring of these external business activities is essential to mitigate compliance risks and maintain organizational integrity.

Enhanced Compliance Management Features

The upgraded StarCompliance platform centralizes and automates the entire disclosure process, enhancing transparency and ensuring adherence to regulatory expectations. Key features include:

• - Configurable Disclosure Types: Users can tailor forms, approval levels, and review statuses to meet specific organizational requirements.
• - Streamlined Employee Review and Proxy Features: This enables smooth submission and delegation, simplifying the reporting process for employees.
• - In-App Collaboration: A Q&A feature allows employee teams and compliance officials to communicate directly within the software, fostering better collaboration.
• - Integration with Other Tools: The software seamlessly connects with Star's control room and MNPI solution to enhance conflict detection through improved visibility into external business activities.
• - Data Warehouse Connector: This allows clients to send external business activity disclosures to downstream systems for KPI tracking and reporting purposes.

Customer-Centric Development

Kelvin Dickenson, Chief Product Officer at StarCompliance, emphasized that the upgrade reflects customer feedback, aiming to create a scalable and intuitive solution without the burden of custom development. The focus for StarCompliance is to empower organizations, allowing them to align compliance processes with their policies and specific needs while maintaining robust control and efficiency.

Webinar for Further Insights

As part of its commitment to the compliance community, StarCompliance offers an on-demand webinar that delves into product specifics with insights from their product experts. For those interested in enhancing their understanding of compliance technologies, the webinar is a valuable resource.

To access more information about StarCompliance and its offerings, visit www.starcompliance.com.

Conclusion

The advancements in StarCompliance’s compliance software signify a major step towards more efficient management of external business activities. By integrating user feedback and innovative technology into their solutions, StarCompliance continues to lead the way in compliance technology for businesses, enabling them to operate more transparently and effectively in a complex regulatory landscape.

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