How innovative technology can deliver better records compliance

Data has long been considered the equivalent of gold or oil in terms of its intrinsic value to businesses. As the rate at which the volume of data created, consumed, and stored continues to increase—with global data creation forecast to grow to more than 180 zettabytes by 2025¹ —data management will be of greater importance.

For many organizations, this means there will be an increased role for data governance, risk, and compliance (GRC) in the modern workplace. As businesses further support remote and hybrid working practices, it is crucial for companies to establish strict policies for records compliance to ensure that information isn’t left unmanaged on desktops or inboxes and is captured and properly organized.

To support these policies, organizations must invest in technology and processes to enable data-driven decision-making while also protecting against potential data breaches and complying with relevant regulations.

The role of technology in GRC

With the ability to automate complex processes, provide centralized storage, and ensure secure access controls, new and emerging technologies offer companies convenient and efficient ways to manage their records.

Adopting technology can enhance records compliance by:

• streamlining record-keeping through automation
• facilitating quick and efficient record retrieval through centralized storage
• enabling a transparent history of record modifications through audit trails
• proactively ensuring compliance with industry regulations through monitoring
• providing enhanced security for confidential records through robust access controls.

OnePlace Solutions is committed to providing real-value business solutions for its customers, including prioritizing GRC and empowering organizations to drive greater records compliance by providing a simplified and consistent way for teams to engage with business systems built on Microsoft 365.

How OnePlace Solutions empowers organizations to maintain GRC with innovative solutions

OnePlace Solutions helps businesses succeed in the modern, digital workplace by connecting people and processes with technology. It offers applications, including OnePlaceLive, OnePlaceMail, and OnePlaceDocs, to streamline the use of the Microsoft 365 platform.

OnePlace Solutions’ suite of products enables employees to successfully engage with business systems in a consistent manner, ensuring greater GRC regardless of the system design on Microsoft 365. Business systems are personalized to the individual and their job function, and delivered within familiar front office applications such as Microsoft Office and Outlook. This increases confidence in employees’ use of systems and enables real-time classification of data for more accurate record-keeping.

The five pillars of business system engagement:

1. Capture: seamlessly capture true and accurate records to Microsoft 365 within familiar applications.
2. Classify: save and classify documents with rich metadata in a single process.
3. Access: access and manage document metadata in bulk.
4. Action: automate key employee compliance workflows and processes, including metadata capture.
5. Create: encourage consistent content creation and faster decision-making

Effective GRC practices can foster collaboration and secure information sharing in hybrid work environments, leading to better outcomes and improved efficiency. With the OnePlace Solutions suite, organizations benefit from streamlined employee induction and ongoing engagement with business systems for better GRC. At the same time, employees benefit from improved productivity and simplicity in performing daily tasks.

Next steps

GRC affects the entire organization from top to bottom, which means technology needs to work across the business to ensure records compliance is built into every department. While many companies already leverage OnePlace Solutions to enable better GRC for contract management, legal matter management, and tax compliance, organizations can achieve optimal GRC outcomes by adopting OnePlace Solutions across the entire enterprise. By placing GRC at the core of people, process, and technology, businesses can respond to regulatory requirements more effectively and efficiently, reducing the risk of non-compliance and financial penalties.

OnePlace Solutions delivers consistent experiences for people to engage with business systems built on Microsoft 365, so organizations, regardless of size, ensure GRC is built in from a base level. This empowers end-users with the personalization that lets them work how they prefer in the Microsoft 365 platform and applications of their choice while prioritizing GRC.

For more information on how to improve GRC within your business with the support of smart technologies, contact OnePlace Solutions.

  ¹ https://www.statista.com/statistics/871513/worldwide-data-created/