Significant effort with little to show for?
A medium sized regulated firm with 30 business policies can spend anywhere between 4 to 12 weeks at the cost of approximately 150k per yr.
The effort spent on updating, monitoring, reviewing, and getting Board approval on policies adds little to the operational realities of the business. In another words, the business is largely no better or worse off operationally after the policy review.
- Limited accountability: no clear accountability assigned to individuals.
- Non value-adding: a document suite maintained for external stakeholders only.
- No actionable insights: reporting is onerous and often untimely.
A fresh approach that automates monitoring.
Policy 2.0's unique approach transforms policies into a list of discrete instructions we call policy principles. Each of these Policy Principles are less than 250 characters.
Each Policy Principle in turn is connected with one or more CORE Elements, where a CORE Element is the smallest unit of business operations (e.g. a business control). This approach significantly reduces the effort of updating policies and automates policy monitoring since the App allows you to link your Policy Principles directly to operational performance.
- Enhanced accountability: business activities supporting policies are assigned directly to named individuals rather than teams or committees.
- Value-add instructions: increased engagement by the business teams with the bite-sized instructions outlined in your policies.
- New operational insights: one-click reporting on live data for improved decision making through timely insights.
Turn your wordy policies into principles that are easy to manage and simple to communicate. You can even tweet them.
Retain Existing Policies
Keep your existing policies for external stakeholders. But we promise once you get used to Policy 2.0, there is no going back.
Get live views on the effectively your policy implementation in the business along with potential gaps in your operations in just one click.
New Operational Insights
Discover new insights into your operational activities based on the mapping of your business activities and your Policy Principles.
Workflows & Audit Trails
Reminders for policy updates are managed entirely by the App, with a clear audit trail retained for all edits made as part of the update.