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Risk & Compliance
Perceptif For Risk & Compliance Management
While going about your daily activities, whether conscious or not, you observe and adhere to external regulations, personal guidelines, and societal norms.
When put in the business context, this becomes even more crucial. Organizations must ensure its processes meet all business obligations consistent with compliance management, especially in highly regulated industries. Non-compliant activities in process flows drain effort and cost - you need to take action for a sustainable and profitable business. In worst case scenarios, such inconsistencies may even lead to penalties and severe legal consequences.
This is where process mining and automation comes in to better your risk and compliance management. Perceptif pioneers an approach to unleash business excellence through Process Intelligence Automation. This powerful tool opens doors to improve your operational performance, ensuring competitive advantage.
Solution Snapshot
with Process Mining
Unlock operational excellence with process mining & automation. Businesses unprepared to take the next step in digital transformation will quickly get left behind in challenging times.
1. Conformance Checks
Organizations invest into executing ideal process flows with proper training and perhaps even automation of certain tasks.
However, various challenges along the process flow - like human error - deviate from its ideal. Process mining is indispensable for quick, precise, and effortless conformance checks. Use Perceptif to analyze your real-time process data to assess adherence to procedures, highlighting disparities between the ideal and actual process flow.
Data-driven conformance checks is necessary for your business to streamline operations, minimize costs, reduce deviations, and optimize results.
2. Mitigate Risks
An additional advantage of process mining is its ability to estimate risks using factual data.
To address non-compliance issues and risks, it is vital to understand the "why" and "where" behind these process deviations. You want any variation that strays from your desired process flow to be pinpointed clearly for you to work out an appropriate solution.
By visualizing the extent of deviations, Perceptif can assess potential risks and offer corrective suggestions. Plus, the effectiveness of these suggestions can be verified by re-running another compliance analysis after implementation. All you need is data that you already have, like Case ID, Activity, and Timestamps in every entry log that you want to dive into for better risk mitigation.
3. Digital Transformation
Process mining facilitates the digitalization of labor-intensive, manual audits. This powerful tool allows you to compare your annual or quarterly risk and compliance audits.
This digitalized approach offers advantages like effective audits on all actual cases, continuous real-time audits via process automation, accurately tracing issues back to process behavior and associated patterns, prompt feedback loop for compliance design and intervention when compliance issues arise. Accelerate your organization's digital transformation by understanding and analyzing digital journeys in your process systems.
4. Engage Operations
The more data you input, the better process mining map out your compliance rate. When you have that mapped out effortlessly in real time, streamline processes with ease and accuracy.
Using the data collected, create reports that show key performance indicators (KPIs) and include the findings from audits. Then share it with your team. If there are any issues or deviations in the process, alerts can be triggered and sent to relevant personnel who can intervene.
This shift from just reporting past events to actively addressing compliance and risk makes it a continuous and proactive effort.
Sharing data and engaging your operation team plays an important role in optimizing your business returns. When teams work together towards achieving the KPIs, it bridges the gap between the ideal and actual operation flow, bringing you closer to your business goals.
What Is Perceptif?
Perceptif is a powerful tool to unlock operational excellence with process mining & automation. It harnesses the power of big data technology and AI to pinpoint areas of process improvement. This is applied to multiple aspects of your business to save time, effort, and cost with minimal effort.
Request a demo or subscribe to any of Perceptif's Plans for immediate access. Got a question? Get in touch with our expert team of consultants.
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