Risk and Compliance Management

Optimize risk and compliance management via automation. Ensure bulletproof compliance without overspending on redundant manual controls. Manage company risks systematically, embed compliance controls into daily work, automate records retention, and streamline contract lifecycle management (CLM).

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50%

improvement in ease of document
creation by M-Files customers
using templates.

88%

of all data breaches are caused
by human error, highlighting the importance of data security.

65%

of workers reported being less
stressed thanks to work tasks
being automated, reducing manual processes.

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Challenges: Complex regulatory environments lead to costly compliance activities

All companies must follow rules originating from laws and regulations, standards, internal policies, and contracts. Balancing the overhead of additional work and the risk of non-compliance can be challenging. Some organizations invest in dedicated staff and systems, taking a hit on profitability. Others try to manage risks collectively, straining staff and exposing the business to penalties and reputation damage.

Risk and compliance management are separate activities, creating extra work

Risk management is an important part of any business, and all organizations need to comply with some regulation. Viewing these activities separately creates unnecessary overlaps and costs.

Records retention requires deliberate manual efforts

Retaining records for compliance involves identifying the right information, moving or copying it into an archive, and documenting the retention period, typically all done by people manually.

Compliance processes create additional manual overhead

Active risk mitigation and compliance enforcement are often handled as additional tasks on top of normal business, wasting time and effort. Often, this is also monitored and audited by dedicated staff.

Poor visibility to contracts and renewals lead into excess cost

Business risks can be controlled via contractual obligations, liabilities, and remedies but often company-wide governance is lacking. This can lead to excess risks and costs.

Solution: Integrating risk and compliance management into daily workflows through automation

Establishing an integrated approach for risk and compliance management can significantly reduce redundant efforts and costs. By embedding compliance controls into daily workflows, organizations ensure that regulatory requirements are met effortlessly as part of routine operations. Automating records management further enhances efficiency by systematically archiving necessary documents without manual intervention. Streamlining contract lifecycle management reduces excess costs and mitigates potential business risks through better governance and oversight. Effective document management and workflow automation ensure all records are properly handled and easily accessible.

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Establish an integrated approach for risk and compliance management

Create a link between risk assessment and monitoring to mitigation actions and compliance controls to achieve synergy and efficiency between both practices.

Automate records management

Leverage automation to classify information, apply retention policies, define permissions, and execute archiving and disposal actions.

Embed compliance controls into daily workflows

Embed compliance controls into daily business processes and workflows to ensure bulletproof compliance and audit trails without additional effort.

Streamline contract lifecycle management

Use document generation to standardize contracts, workflows to track lifecycle stages, and notifications to remind on renewals.

Solutions for Your Industry

Fulfilling regulatory compliance in Wealth Management

Risk and compliance management plays a pivotal role in maintaining the integrity and trustworthiness of financial institutions. By integrating compliance measures into daily operations, wealth managers can effectively mitigate risks and ensure adherence to regulatory requirements. This proactive approach not only safeguards client assets but also maintains the institution's reputation in the highly regulated financial sector. Through automation and streamlined processes, wealth management firms can achieve greater efficiency and reduce the burden of manual compliance tasks, thereby freeing time for client work while fostering a robust and secure financial environment.

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Driving business performance in Manufacturing

In the manufacturing sector, combined risk and compliance management can significantly enhance operational efficiency by identifying and mitigating potential risks before they disrupt production. This integrated approach ensures that compliance controls are seamlessly embedded into daily processes, reducing the likelihood of regulatory breaches and associated penalties. Additionally, it fosters a culture of continuous improvement, where automated systems and document analytics streamline compliance checks and documentation, ultimately leading to higher quality products and greater customer satisfaction.

Customer Case Studies

More than 5,000 companies rely on M-Files to manage their documents every day.

Hood Sweeney Securities

  • Hood Sweeney Securities used M-Files to manage extensive documentation for compliance and client services.
  • M-Files' streamlined document sorting, reducing file room resource use by 20-25 hours per year.
  • Processing compliance documentation time reduced from weeks to days, enhancing efficiency and compliance.
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HUMANEXX & Hanselmann

  • HUMANEXX adopted M-Files to digitize personnel records and automate HR processes.
  • The new system automated manual tasks and ensured compliance with data protection regulations.
  • Automated manual tasks and improved data accessibility have improved employee performance.
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Tietoevry

  • Tietoevry used M-Files Ment to create a self-serve solution for GDPR-compliant contractual clauses.
  • The Widgets interface enabled easy document generation with practical instructions.
  • Automation of SCC modules enhanced contractual compliance and enhanced productivity.
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