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Meet industry regulatory compliance requirements including policies & procedures approval management, employee acknowledgments.
Policy Management Software – Best Practices
Improving Current Policy Management Processes[/vc_column_text]
As a manager — no matter what your specific role within the organization or what size or type company you work for — you have three important responsibilities to your employees when it comes to policies and procedures: access, education and enforcement… READ MORE
Every time a discussion on policy and procedure management arises, there are always people in the room who think it applies to large enterprises only — and definitely not to them yet. Often, information and resources neglect the same needs for smaller organizations, but just because the organization is smaller to mid-size, doesn’t mean a policy and procedure management structure isn’t just as important… READ MORE
Your employees’ knowledge of company policies and procedures makes all the difference when it comes to compliance and industry regulations. Polices and procedures are intended to serve as a reference guide for certain scenarios or situations. What happens when those scenarios actually take place and your employees don’t know what to do? Costly mistakes can be made and employee morale can be crushed, all at the expense of your company… READ MORE
Without policies and procedures management, no company can last. Policy and procedure management is the strong foundation established for a stable and successful future; therefore it is essential to have an effective policies and procedures process… READ MORE
Businesses are dynamic to meet the demands of the marketplace. We talk about mergers, acquisitions and subsidiaries as part of the common business dialogue, and we sometimes forget that it’s the compliance team that holds the seams of an ever-changing environment together. They are the force that guides corporate cohesion, by creating policies and procedures around operational and regulatory requirements… READ MORE
We’ve all sat in meetings, and more meetings, trying to hash out policy guidelines. It takes time. It takes multiple meetings. It takes dealing with different people from diverse areas both inside and outside the organization. It takes emailing back and forth after the meeting, and it can get confusing trying to keep track of it all. One thing that is imperative for policy management is being able to take all the pieces of information and keep them organized in one place… READ MORE
Policies are put in place to ensure everyone is on the same page about their jobs, from how to take vacation and sick days to how to use equipment safely. Some policies can be seen as flexible, whereas other policies need to be upheld in order for companies to be compliant with local, state or federal laws. When distributing policies, it’s important to recognize which policy is which, because asking every employee to sign off on every single procedure is counterproductive… READ MORE
If you think employees look at those new policies and procedures you send them, you’re only just thinking. How do you know for sure? Sure, some employees have enough time and interest to read through the documentation, but even within that group, how many pay attention to the changes that matter most? With a simple questionnaire, you can make sure they do… READ MORE
Businesses are dynamic and ever-evolving to meet the demands of the marketplace. We talk about mergers, acquisitions and subsidiaries as part of the common business dialogue, but we don’t often stop to think about the compliance team that holds the seams of an ever-changing environment together. They are the one central force that guides corporate cohesion by creating policies and procedures around operational and regulatory requirements… READ MORE
Sure, there are plenty of ways to view the policy and procedure management process, but when each phase is examined individually, the task becomes much more relatable overall. How can we make policy and procedure management more relatable you ask? Simple. We’ll relate it to something virtually everyone can understand… READ MORE
Every industry and business has certain regulations to follow and policies to implement for very different, yet equally important, reasons. The creation, distribution and acknowledgement of company policies and procedures ensure safety, act a reference guide and provide protection from the unknown… READ MORE
Do your policies and procedures include a disaster recovery or emergency action plan? What happens when a natural disaster, power outage or other unplanned event occurs?
About 40% – 60% of businesses never reopen following a disaster, according to the Small Business Administration, meaning an emergency action plan plays an essential role in helping businesses recover and continue.
The first step in building a plan is to create policies for disaster recovery and then define detailed procedures for each policy… READ MORE
Addressing Potential Compliance Issues
SOP Full Article
Accountability for creating SOPs within an organization is often dynamic, as policy creation should be a combined effort from both the regulatory compliance team and operational leaders. Operational leaders are not always in the same location as compliance team members, making it sometimes difficult to coordinate. The right technology, however, can bring the right compliance leaders together to efficiently create relevant SOPs… READ MORE
SOP Article I of III
Every organization has rules, policies, procedures and standards by which its employees must abide. The choice to agree and act in accordance with the standards of the organization must be a voluntary action by the employees. Enforcing the standards can be difficult, if they haven’t been properly communicated to the employee base through documentation, managerial involvement and company culture… READ MORE
SOP Article II of III
SOP defines what an organization’s policies are, while outlining the steps necessary to respond to the situation denoted in the policy. They’re our quick reference guide on the daily in-and-outs of how to perform necessary job functions. It especially becomes handy as organizations grow and experience turnover, promotions and general human resource movement between organizations… READ MORE
Recently, we’ve been spending quite a bit of time researching what ensures effective compliance programs and translates into lasting corporate cohesiveness. We’ve studied general trends of discussion, attended compliance conferences and consulted upper management groups on their compliance efforts. What is most intriguing is how differently each organization approaches their corporate compliance structures… READ MORE
Establishing effective policies and procedures does not begin and end with regulations. It takes the right amount of collaboration and distributive mediums, and the right methods to measure understanding. Here are 5 steps to ensure compliance, and what software features to look for to choose the best possible solution… VIEW SLIDES
Another impediment to policy making is information flow bottlenecks, where one person or department holds up the entire process by sitting on emails that need to be passed on to others. Bottlenecks occur when someone doesn’t have access to information they need to make a decision, meaning everyone has to wait until the information is located. It can be frustrating and slow to get things done this way… READ MORE
Analyzing the Benefits of Having a Policy Management Software
Transparency — it’s a word that’s tossed around quite a bit in conversations, often with the words, “accountability” and “governance,” but what does it really mean? What does it look like? Why is it important? How does it apply to policies and contracts? …. READ MORE
A car is made up of many different moving parts. For the car to be efficient and travel from point A to point B, each part must function perfectly and work together. If the parts do not, the car will eventually break down without reaching its destination. In business, there are also many different parts to a company, and for that company to be successful, each part or sector must perform both individually and as a team. Operations in each department must work with an optimal output consistently… READ MORE
In today’s world, there’s a policy, along with a huge list of procedures, for everything. More than that, as companies evolve, the policies never seem to remain current for very long before tweaks and updates need to be made. The result? HR, compliance and risk management departments that often fall behind, trying to stay on top of policies and procedures in order to ensure that the company remains compliant with the latest laws and regulations. With policy management software, companies are able to reclaim a huge portion of the time it takes to write, approve and distribute policies… READ MORE
Forget the endless hunt through your inbox and the relentless effort to track down exactly which employees have seen what policies. ConvergePoint offers a simple solution for the distribution of company policies and procedures. Getting the information to the right people no longer has to be a daunting task of its own. ConvergePoint’s Policy Management Software is broken into three portals, so each phase can receive the individualized attention it deserves… READ MORE
On January 8th, 2013, the American Action Forum published a study stating that the total regulatory burden placed on the U.S. economy in 2013 by governmental regulators amounted to $112 billion. OIRA, The Office of Information and Regulatory Affairs, then translated this number into the number of hour’s U.S. workers spent processing the regulatory paperwork, 157 million hours… READ MORE
Beyond that, when a potential client visits your office or views your company website, the goal is to effortlessly promote the image of a thoughtfully planned & organized well-oiled machine. In the business world, regardless of the industry, one thing can be agreed upon-looking like a well-oiled machine from the outside is far from easy on the inside. As a Compliance Officer or HR Coordinator your role consists of behind the scene work that ultimately creates the seamless, successful image for your company. It takes an extensive amount of behind the scene work to be and stay compliant in today’s fast-paced business market… READ MORE
ConvergePoint’s Contract Management Software is a workflow-driven Microsoft SharePoint template that enables organizations to create, collaborate, review and approve contracts made with customers, vendors, partners or employees.
Simplify the contract management process. Every contract goes through a defined streamlined business process — from request to approval — on a single platform to ensure accountability. Storing all files on one centralized platform allows for high visibility, strict regulation, extensive reporting and analytics capabilities, and speedy response times.
Run ad-hoc reports in real-time to find specific contract details, see general status overviews, determine cycle times and review expiration dates.
Ensure all contract requests have proper approvals within a single Microsoft® SharePoint platform, and eliminate unqualified requests.
Manage the full contract lifecycle, from drafting to review and approval, with intuitive workflow rules, version control and audit trails.
Roles-based user access allows you to set individual permissions and levels of access. Structuring is simple because contracts are dynamically organized.
Our dashboards offer real-time updates, extensive reporting, powerful search options and reminders as contracts age, go up for renewal and expire.
Manage contracts on SharePoint through the Contract Management Lifecycle. Manage requests, creation, approval and storage.
- Contract Management Requests
- Contract Approvals
- Contract Document Management
- Contract Search and Reporting
Healthcare Contract Management Software – Best Practices
Looking for quick reference guides or tips to improve your contract management system? Take a look at the articles and tips below.
Improving Current Contract Management Processes
When it comes to Contract Management, there are several different methods offered today. Just as selecting the route affects the journey, finding the best method determines the efficiency of your contract management system. You can think of travel time as the amount of time it takes a contract to pass through the approval process. You want to find a route that expedites this process as much as possible, right? … READ MORE
Writing, approving and implementing contracts may not ever be on anyone’s top 10 list of most exciting job responsibilities, but each step of the contract process is essential, no matter the size of the organization. External contracts with partners, suppliers and clients ensure everyone is working from the same page, and offers all parties assurance that everyone will carry out their part as agreed upon in the contract. A contract management system helps streamline this whole process, helping companies not only save time but increase revenue… READ MORE
The importance of efficient Contract Lifecycle Management continues to increase, as we move to a service-based world where the rules of our offerings are outlined in the contracts we negotiate with one another. Contracts legally bind us to our obligations, while detailing what those obligations are. When discussing contracts, we often mention negotiating power, reducing contract bottlenecks and creating legal team efficiency, but we don’t often stop to think about the players involved within the contract lifecycle itself…READ MORE
The performance of legal teams is directly affected by their ability to work cohesively — just like any team, disturbances in cohesion can hinder team collaboration and ultimately hurt performance. What hurts cohesion and collaboration? Lack of organization, processes and structure. It’s thus essential to organize the legal team on a stable and robust system, such as a Contract Management Software, that can serve as the foundation of your legal team’s efforts…READ MORE
How do you realistically and effectively manage your contract lifecycle? Ask this question to any paralegal, attorney or member of an in-house legal team, and you will be surprised at the variety of responses. What’s most interesting is that most answers focus on what the organization is currently doing and why it is not working. Even more interesting, very few people can explain why or how the organization has chosen its current process or what goals they are trying to achieve…READ MORE
How do your paralegals and legal administrators spend the majority of their day? Do they go on wild goose chases looking for contract information? Are they worried about missing emailed contract approvals or contracts that have mysteriously fallen off the priority list?
When it comes to contract management, here are the top five most frustrating and time-consuming activities that paralegals and legal administrators deal with (but shouldn’t have to)… READ MORE
Transparency — it’s a word that’s tossed around quite a bit in conversations, often with the words, “accountability” and “governance,” but what does it really mean? What does it look like? Why is it important? How does it apply to policies and contracts? … READ MORE
At the heart of every business, without exception, is a process for the management of contracts. Whether this process is refined or thrown together can make a vast difference in the costs of time and resources spent addressing each of these five issues in manual contract management…. READ MORE
If you are the contract manager or administrator in a large organization, you know that your workplace functions just like a family in some ways. People are constantly bringing requests to you to handle various aspects of the contract process. Can you start a new file for this project? Is there an update on this? Did the update get sent to everyone? Are there changes to the contract? Who is in charge of this? … READ MORE
Increases in regulation and compliance concerns have led to the next evolutionary step in document processing and management. Companies are starting to realize the metadata associated to their documents is just as important as the documents themselves. We have seen and been a part of the huge shift to central document repositories and streamlined requests processes that provide access to metadata, version histories and a place for document discussions… READ MORE
Take a look at how your company’s contracts are organized and how your team communicates when working on those contracts.
- Are your documents labeled with extensions such as, “/FILENAME-DATE-v14-r02.doc”?
- Have you ever had an email discussion with your team about updating a document, made revisions directly to it and then accidentally saved over the previous version?
- Have you ever had to dig through files trying to determine which version of a contract to make updates because you can’t figure out the difference among the most recent iteration, the last final and approved contract, and draft copies? … READ MORE
You’ve probably seen firsthand how mismanagement, errors and delays in the contract renewal process can affect your bottom line. Instead of thinking about contract renewals as a time of missed opportunities and lost revenue, they should be thought of more positively — as a time to reevaluate, refine, improve or move on from existing contracts… READ MORE
Whenever professionals agree to signing a contract, an important and often forgotten aspect of the contract is its renewal status. Every contract is slightly different, including whether or not contract renewals are automatic, which becomes problematic when organizations have hundreds of legally binding agreements to keep up with. Remembering all of the dates and terms can be challenging… READ MORE
Supporting a Wide Range of Industries
Banking and financial institutions, perhaps more than any other type of business, must be constantly on alert for cybersecurity breaches. Their customers entrust them with a large amount of data, and financial firms’ business depends on the ability to protect and secure their customers’ information.
As a result, the financial services industry is heavily regulated and under constant scrutiny — by both officials and the public. Financial organizations must adhere to strict compliance laws to promote operational transparency and accountability… READ MORE
The construction industry is built on business partnerships — nurturing your customers and vendors, as well as defining how your relationship will work in the form of contracts. Contracts with vendors, subcontracts, architecture firms and other partners are key documents that all contractors must deal with on a daily basis. Developing a contract is similar to constructing a building… READ MORE
Evaluating Vendors and Software
Your company has decided it’s ready to take your policy or contract management system to the next level and look into compliance management software vendors. You’ve been tasked with researching and evaluating vendors and products.
Beyond comparing the actual features of the products and price, what else should you look for and ask about when choosing the right partner? … READ MORE
So it’s time for your organization to use a contract management system, but you’re sure how to research and evaluate products and vendors. It’s a common theme: Once you’ve gotten past all the reasons you need one, such as finding a system to ensure you know how many contracts you have, what their worth is and when they expire, as well as how to stay on top of renewals, you feel like you need a break before diving into software options. Here are a few key considerations to help you with your product search…READ MORE
Get 8 benefits of having a contract management system. #1: Improve Audit Preparation: Systems that offer one centralized portal with features such as full audit trails provide access to the entire contract history in one location. #2: Ensure Contract Compliance: Streamlined business processes provides contract accountability. From request to approval, every contract is held to compliance standards… READ MORE
The ConvergePoint SharePoint Contract Management Software is a workflow-driven Microsoft SharePoint template that enables an organization to create, collaborate, review and approve contracts made with customers, vendors, partners and employees. Every contract goes through a defined, streamlined business process, from request to approval, on a single platform to ensure accountability. Storing all files on one centralized platform allows for high visibility, strict regulation, extensive reporting and analytics capabilities, and speedy response… WATCH THE VIDEO