To gain a competitive edge, organizations have always sought to invest in tools that allow them to maximize their labor force, resources, and budget, while staying productive, connected, and agile. While the ongoing COVID-19 pandemic has created a shift to the virtual realm, the stakeholders’ expectations on companies and organizations haven’t changed.
Cloud-based GRC (Governance, Risk, and Compliance) solutions like those provided by CFM Partners are, therefore, the need of the hour to achieve these objectives. CFM Partners’ portfolio of cloud-based solutions directly addresses the myriad of operational challenges that companies struggle with; challenges that were more pronounced during the pandemic including, remote policy review, approval, and dissemination to employees, and tracking capabilities for review and acceptance.
Before the pandemic, the daily operations in most companies relied heavily on general, manual tools like email, spreadsheets, and shared folders to manage GRC-specific operations. However, the pandemic highlighted the urgency to adopt digital tools and cloud-based solutions to minimize damage and save time, money, and effort.
“Today’s companies and organizations are under the microscope—internally and externally. Not only do our solutions improve operational resiliency, they help mitigate reputational risk by keeping employees informed with easily accessible policies and audience-appropriate education of high-risk issues.”, says Patrick Murphy.
CFM Partners’ flagship solution, Access Compliance, provides organizations a purpose-built, comprehensive GRC solution that addresses the acceleration of digital transformation head-on by helping them digitize forms and other processes.
The solution also includes regulatory change management tools for those companies that wish to increase regulation by monitoring changes, assessing impact, and implementing action plans. Its aggregate reporting and review tools enable faster, more effective, and transparent Board of C-Suite level reports.
Depending on one’s vantage point, what constitutes effective GRC can vary. For example, at the enterprise level, the aim is to find a technology solution that’s “one-size-fits-all.” But these solutions are often impractical for individual lines of business. From their perspective, the preferred solutions are often too complex, challenging to implement, expensive, and ultimately ineffective when addressing technical issues or concerns.
CFM Partners strives to meet the needs of its clients by creating practical tools and solutions that are easy to implement, monitor, and produce insightful data and reports that efficiently support the goals of upper management levels. By meeting clients where they are, CFM Partners helps companies better manage significant “pain points” such as risk mitigation or policy management, which boosts success rates, leads to long-term adoption, and overall expense reduction.
Its Access Compliance’s robust policy management and regulatory monitoring tools helped a large, independent broker-dealer and RIA firm efficiently manage and distribute policies and procedures in real-time. This allowed the client to completely control content at the enterprise level while leaving room for firm-specific, customized content.
The higher education community has also benefited from adopting GRC solutions like CFM Partners; Access Compliance EDU, especially in the face of mounting challenges like government regulations, and the communication of high-risk topics. CFM Partners’ Risk-X solution was specifically designed for NCAA and Recreational and Club Departments, helping clients bridge the gap between the collegiate athletics departments and student-athletes, coaches, and staff. It does so with tools and content that can efficiently deliver audience-appropriate education and policies to the right audience.
In the years to come, the company intends to expand into many more highly regulated industries that face challenges similar to the financial services and higher education sectors. It also envisions improving its solutions to include more intelligent dashboards, AI, and additional content integration.
For more than 20 years, CFM Partners has been a leader in GRC solutions because it meets its clients where they are and helps them create a culture of compliance. CFM Partners is sure to remain at the forefront of GRC Solution Providers, for years to come, as it is proactive, predictive, and people oriented.
