July 14, 2022
Onspring, a no-code GRC software platform, today announced the launch of its Regulatory Change Management (RCM) solution to provide enterprises with immediate visibility and control of regulatory changes and corresponding compliance implications. Onspring’s RCM solution notifies compliance teams of regulatory changes and current obligations in real-time and activates impact assessments to evaluate risks and their necessary corrective actions. By using Onspring’s regulatory change management solution, organizations can instill a structured, integrated, and automated approach to tackle regulatory change – saving measurable time and effort.
“Compliance teams are spending hours sifting through regulatory documents to find only the obligation changes that pertain to their business, which means less time is spent identifying the impact of those changes,” said Matt Pugh, Executive Vice President–Product for Onspring. “We created our RCM solution to automate time-consuming elements of the process, so teams can focus on ensuring organizational compliance, regardless of the pace of regulatory change.”
Rather than relying on manual spreadsheets, email silos, and SharePoint, Onspring’s RCM solution ingests, organizes, and maps rules and relevant obligations from regulators and content providers, conducts impact assessment for obligation changes, and assigns ownership tasks, and ensures updates are implemented through monitoring and reporting.
Onspring integrates and manages regulatory obligations while simultaneously automating compliance workflows, assessments, approvals, and analytics, which allows users to share real-time compliance monitoring on regulatory change issues and corrective tasks. The RCM solution on the Onspring platform provides the following features:
- Real-time data aggregation in tables, graphs, and maps that drill directly into details
- Ability to customize edit and create new workflows & reports on your own without IT or dev resources
- Formulas to calculate compliance violation values from multiple data records to measure real-time risk posture
- Task management to assign individual tasks and track completion by team member, due date, budget, and priority
- Executive dashboards that deliver insights and communicate activities in a role-based command center
- Survey capabilities that impact assessments, attestations, and questionnaires on a schedule or ad hoc
- Easy integration and consolidation with third-party regulatory content subscriptions and existing technology
- End-to-end management to simplify tasks across all regulators and teams, from the obligation to documenting controls to final reports
- Data references to relate data points to connect regulatory changes to impacted obligations, controls, and policies
- Access control enables users to set permissions to create, read-only, edit and delete
- Ready-made workflows and reports
- Integration across Risk, Legal, Compliance, and Audit for efficiencies and company-wide accountability
“Onspring is a compliance gamechanger,” said a senior executive from Benevity. “We put everything in one place to rationalize which controls meet the requirements of clients A, B, and C; and whether they also meet ISO 27001 requirements and are included in our SSAE 16 report. Onspring gives us a place where we can test once but report in several different ways.”
Onspring ranks as the #1 GRC software in the InfoTech Research Group leader quadrant, maintains 5-star customer reviews on G2 Crowd and Capterra software review sites and has been consecutively recognized as one of the Best Places to Work in Kansas City. It has also been a Trust Award finalist in Business Continuity & Disaster Recovery in 2021 and 2020.
Onspring is a no-code GRC software that connects data and teams to improve business intelligence, governance, alignment, and resilience. When people are empowered to create their own workflows, processes, requirements, and reporting, teams are more productive, and business runs better. With over 550,000 users around the globe, Onspring’s software helps businesses in every industry track and better manage their workflows.