In this special five-part podcast series, hosted by Gan Integrity, we consider the evolution of compliance, from disconnected to connected. Over the next five episodes we will explore why compliance is disconnected and what can be done to connect it, how to build a connected compliance program and technology can help in this endeavor and finally what is the human side of compliance in the context of connected compliance. The series is a fascinating exploration of where compliance is in 2019 and where it is headed down the road. In this fourth episode, I visit Martin Albertsen, the Chief Technology Officer at GAN Integrity to the role of technology in a connected compliance program.
As you might expect, Albertsen brings tech focus to connected compliance. Yet, he began by articulating that technology must work for you and not the other “way round”. This maxim has led many compliance practitioners (and others) to persist in using now-outdated low-tech solutions to compliance such as spreadsheets, SharePoint and other tools that may have been innovative when developed but now are seen as continuing to add inefficiencies to the business process of compliance. Albertsen phrased it in another way, saying its “all about the productivity and also being delighted with the solution that you’re using. It’s important to put design and usability front and center.”
I asked Albertsen what a CCO or compliance professional should look for in a connected compliance tech solution. He said, “first of all, both compliance programs and compliance technology change. This requires the compliance officers to be able to adapt to that change. If the compliance officer wants to be successful and be enabled by technology, they need to work with a product that’s flexible and able to adapt to change. For the technology itself, the synergy does need to be highly configurable and those configurations should not be long as several months development projects.” Albertsen believes there should be configuration options in the solution and that should be something that the technology solution provided takes care of for them.
Next the CCO and compliance professional should consider technological solutions which can expand beyond one specific task to make a more efficient overall business process. There are multiple opportunities for increased efficiencies in business processes through connected compliance. Albertsen noted there are opportunities for integrating compliance management all the way into other systems like the procurement, ERP or Contract Risk Management (CRM) systems. This can move compliance from being a little side branch to a key and proactive part of the business processes. It allows the CCO to shine and expand the compliance footprint in the organization.
Albertsen also said a CCO should look for unification in a tech solution. By this he meant that a customer should have a seamless experience from the sales perspective to the design perspective to the implementation and execution perspective. From the regulators perspective I would add that adaptability to a changing risk profile is a key ingredient to bake into your technological solution.
Join us tomorrow when we conclude our exploration of why compliance is disconnected and how companies can work to connect it by looking at the human side of compliance.
For more information on how connected compliance, visit our sponsor Gan Integrity Solutions, Inc. at www.ganintegrity.com.