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Platform Video: Workflow

Industry Trends & Challenges


Past, ongoing and future acts such as Dodd-Frank, Basel III, and the Foreign Account Tax Compliance Act (FATCA) have resulted in an increase in compliance-related activities and personnel. Dodd-Frank alone has produced millions of hours of paperwork costing businesses more than $24 billion since its initial passage. These acts produce several regulations and procedures for companies to follow and it’s up to their compliance departments to review, document, advise, and track all of these processes to follow them accurately. As more and more regulations are added, Compliance departments need to be able to effectively review, notify, track and audit how the regulations are being implemented.

Platform Video: Workflow

K2 + ClearNotice for Compliance Notification


Powered on the K2 low-code development platform, ClearCadence’s ClearNotice for Compliance Notification Solution Accelerator provides customers with a fully auditable and automated compliance tracking solution that offers a structured method for communicating new regulations and tracking the steps and ensuring due diligence from each department when verifying their areas are fully compliant. 
 

Using K2 and ClearCadence’s ClearNotice Compliance Notification System provides organizations a structure for conducting business ethnically and in full compliance with legal and regulatory requirements. Leveraging the solution helps businesses optimize their compliance processes and ensure each task, user, and team is doing their part in ensuring requirements are met

Get the Most Out of Your Automated Regulatory Review Process


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Structured Workflows


  • Push all reviews through a specific ClearNotice workflow.
  • Ensure the review process is carried out exactly as needed.

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Assign and Task


  • Allow Compliance departments to assign the review of new regulations to specific departments within the company. 
  • Assign a set of configurable tasks to be completed by each department.

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Follow Through to Production


  • Include tracking straight through to production. 
  • If system changes are needed, track and report on when the system changes were moved into production. 
  • Link DocuSign to your solution and ensure appropriate people are declaring the new regulation has been implemented properly. 

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Audit for Compliance


  • Provide an auditable account of the handling of any and every new legal and regulatory requirement. 
  • Involve the Compliance department end-to-end, from the start of receiving each new requirement straight through to vetting,
  • implementing, and completing it into production. 

How it Works


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Initiate, Route & Track


  • Using a workflow, Compliance will know at a glance the status of each regulation currently in review. 
  • The workflow will also automatically escalate reviews that go past a configurable deadline.

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Review & Audit


  • Compliance or external parties can review the entire history of a regulation review from when it came into the company to each department and provide input that is enabled in production systems. 

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Consolidate & Publish


  • Access all documents, procedures, comments, and workflow history in one virtual package.  


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Who We Are


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K2 helps you build apps that drive your business forward. Create powerful forms, workflows, and business applications that tie into your line-of-business systems.

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With experienced and seasoned professionals in workflow, integration and enterprise content management, ClearCadence has a proven track record in delivering successful business process automation-based solutions.  As a strategic K2 reseller and partner, they provide comprehensive consulting services including scoping, defining, developing, and implementing BPA with real-world, practical experience.