Regulatory Knowledge Base – The “Rosetta Stone” of Regulatory Compliance

With constantly changing standards in a variety of industries, it is not a surprise that audit readiness and compliance has become such a common problem in our highly regulated world. Regulatory change management is the monster hiding under the bed, waiting to catch companies asleep and unprepared to slap huge fines on them. Not only is it a hard task to keep an entire company and all of its employees up to date on all regulations, but even with constant updates, it is extremely difficult to fully comprehend the confusing language of the different standards. Reading current standards can cause a person to revert back to kindergarten. Sound out each, little word, and hope that when you put all the words together, the sentence makes sense and you KNOW what actions need to be taken in order to achieve compliance.

When it comes to GRC, the emphasis has to be on simplicity. The question we must ask ourselves is how can we make this easier for the company to accomplish? How can compliance be portrayed and completed in the easiest way possible? As technology advances and programs are developed, there also has to be a large focus on ease of use. With this in mind, 360Factors, Inc. has implemented a program that strives to give users knowledge with fewer clicks. One of the highlights of the program, PREDICT360, is the module called Regulatory Knowledge Base (RKB) that breaks down each standard into a format that is easier to understand. The RKB separates the who, what, when, where of each requirement and portrays it in an organized, clean manner in addition to providing the complete standard in PDF format.

Next to each standard are separate accordions with room for community best practices according to industry experts. The accordions include policy and procedures, evidence, risk management, and RSAWs that can all be mapped to specific requirements. The RKB is the “Rosetta Stone” of regulatory compliance so that everyone can grasp the concept of what is expected for each requirement of the standards that apply to his/her company.

PREDICT360 even provides a plan B. If there is still confusion on a standard, there is a module called Expert Connect where users are able to connect with different industry experts and ask questions. Fewer clicks, more connections, and higher comprehension are all part of the vision of PREDICT360.