Managing Risk Compliance Throughout the Change Management Process

Man in pointing to a change management graphic

Raise your hand if this situation sounds familiar: you need to make changes within your organization, and these changes are crucial and quite urgent. At the same time, there are regulations that might get in the way of these changes. How do you navigate regulatory compliance while implementing vital changes at your company?

The answer is change management tools. Change management tools automate the process of managing change. They also balance those changes against regulatory requirements, so you stay compliant.

What Does Your Current Change Management Process Look Like?

Think about your current change management process for a moment. What does it look like? Is it smooth and seamless? Or is it based on manual, inefficient processes that create data silos and ultimately sow confusion? Have you taken the initiative to evaluate and implement IT change management best practices?

At many firms, change management processes are highly manual. People use emails or spreadsheets that don’t enable collaboration. Moreover, there’s no way to effectively and efficiently check if you’re violating a regulation through this method. 

“You don’t have to maintain the status quo – you can balance change management along with risk and regulatory compliance”

As a result, confusion reigns and you run the risk of violating the law (not to mention the penalties you’ll face). However, you don’t have to maintain the status quo. There is a way to balance change management with risk and regulatory compliance. 

 

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How Can You Manage Change and Comply with Regulations Simultaneously?

The secret to effectively managing change while complying with regulations is not to use manual processes. Instead, change management software allows you to automate the entire process. Automation has two benefits: it makes the process more efficient and less complex.

How does it work? Change management software creates a centralized change repository that tracks changes across the whole company. It also automates the process of collecting critical risk documentation and change record history – that means you won’t waste precious time and effort hunting for change records or risk documents anymore. 

“You won’t have to waste precious time and effort hunting for change records or risk documentation anymore”

Imagine what your change management processes will look like after implementing change management software: there will be no more conflicting emails or spreadsheets that form islands of data. There won’t be any more worrying that you’re violating a regulation because you didn’t cross-reference the change with existing policies. There won’t be the fear of financial or legal penalties for regulatory non-compliance.

In addition, change management software dramatically shortens the audit procedure. Auditors have all of the information they need in one place, making it clear what changes have been made and whether they violate any regulations.

“Change management software dramatically shortens the audit procedure”

Change management and risk compliance aren’t mutually exclusive. Change management software allows you to balance the two without conflict. To learn more about change management tools, download the guide 25 Key Requirements for Change Management.

 

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