AuditBoard's RegComply Solution: A Game Changer in Regulatory Compliance Management

AuditBoard Unveils RegComply for Enhanced Compliance Management

AuditBoard, recognized as a leader in the connected risk space, has recently unveiled its latest innovation—RegComply. This new solution is designed to streamline the process of regulatory compliance management, providing organizations with the tools required to navigate the ever-evolving landscape of regulations effectively.

In today’s fast-paced world, regulatory environments are changing at an unprecedented rate. For many organizations, keeping track of these changes across multiple regulatory bodies while ensuring alignment with internal compliance programs is a daunting challenge. Many organizations find themselves at risk of hefty fines and diminished customer trust if compliance is not managed proactively.

RegComply addresses these challenges head-on by offering a centralized platform that allows compliance teams to:

1. Centralize Regulation Visibility: RegComply integrates regulatory content from CUBE RegPlatform™, a leading provider of regulatory intelligence, to give users a singular view of current regulations. The solution proactively alerts users to any changes, enabling timely responses.

2. Speed Up Compliance Decisions: The centralized nature of RegComply means that companies can view risks, controls, policies, and compliance issues in one place. This functionality equips organizations to rapidly assess the implications of regulatory updates and make informed decisions regarding compliance strategies.

3. Enhance Stakeholder Collaboration: Leveraging AI-driven workflows, RegComply simplifies the mapping of regulatory obligations to existing areas of risk and compliance. This user-friendly approach accelerates input collection from various stakeholders, streamlining the compliance process significantly.

The development of RegComply came about through direct collaborations with AuditBoard’s clients, ensuring that the solution would effectively tackle their real-world compliance challenges. The feedback from beta testers highlighted the importance of having a reliable, integrated tool to manage compliance without overwhelming existing resources.

David Harrison, the Chief Audit Executive at Origin Bank, shared, "With RegComply centralizing notifications and outlining regulatory obligations, organizations can experience between 20% to 40% time savings in managing regulatory changes. This effectively transforms our compliance strategy, enabling quicker responses to new requirements."

Happy Wang, CTO at AuditBoard, emphasized that the essence of RegComply's design was fundamentally driven by user experience and the challenges customers face. The AI functionalities are set to optimize compliance workflows further, creating seamless integration with broader risk management programs, ensuring a solid compliance framework.

Furthermore, Ben Richmond, CEO and Founder of CUBE, attests to the strength of their partnership with AuditBoard, which serves to enhance the value of RegComply by providing continuous access to recent regulatory updates. This synergy allows AuditBoard's customers to efficiently prioritize and implement necessary changes in their compliance strategies.

In summary, AuditBoard's RegComply stands out as a transformative tool in regulatory compliance management. By centralizing regulatory insights and fostering efficient compliance practices, organizations are better positioned to address the complexities of modern regulations. For more information, visit AuditBoard.com.

About AuditBoard
AuditBoard aims to redefine risk management through innovative solutions tailored for organizations today. With over half of the Fortune 500 companies relying on their platform, AuditBoard has earned recognition for its approach to transforming audit, risk, and compliance management. Widely praised on platforms like G2 and Capterra, AuditBoard continues to grow rapidly, being ranked multiple times among the fastest-growing tech companies in North America according to Deloitte.