Engaige | Nextwave Consulting

The Challenge

Reputational risk for non-compliance is significant, along with hefty non-compliance fines
Compliance events can occur at any time and from multiple sources of origination, such as an employee or customer query, Regulation changes, internal audit findings, risks that materialise into issues, external factors such as macroeconomic or peer events, and more.
Managing a compliance event in a timely and effective manner requires an organisation to be well connected and organised as meaningful data from multiple sources is
needed on a timely basis. The data also needs to be accurate and reliable, which is a huge challenge for multi-national organisations.

The Goal

In order to quickly and accurately respond to compliance events, an organisation needs a single view of meaningful data in 'near real time' in order to assess all variables and craft a reliable response.
Responding to events in a timely and accurate manner is stage 1. Stage 2 is being able to identify future challenges, address them upfront and reduce future risk. To address both goals, organisations require both strategic insight and the ability to make intelligent linkages.
Most large organisations can be easily overwhelmed by the sea of data that accompanies compliance as a function. Therefore, organisations need an intelligent way of surfacing this data without the need for fundamental re-platforming or the migrating of complex structures.
Achieving this goal is a moving target because the compliance landscape is constantly evolving, and organisation need the ability to adapt quickly and make changes rapidly without heavy reliance on multiple different technologies, skillsets and teams.

The Solution

Low Code + Data Fabric + AI + Maximise Re-use + Industry Expertise

Engaige is a next generation compliance management solution. It is designed to help large organisations tackle the multitude of compliance issues, alerts and workflows efficiently and in one place, by bringing generative AI together with process automation and data integration across all available enterprise data sources. Engaige has been built by combining deep compliance industry expertise with best-in-class low-code engineering, to create a feature-rich and scalable solution for global compliance functions.

Engaige features & outcomes

Engaige

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Compliance Query Optimisation: Reduced volume & duplication
Intelligent work & case assignment via ‘Get Next’ capability tailored to skills
Intelligent linking of key risks / issues /policies / controls and obligations
Strategic MI and analytics derived from user activity and trends
Automated policy adoption using
Appian AI & Data Fabric
Advanced SLA tracking with configurable
targets and trends
Improved UX/ UI through work from a single source portal
Leaner Risk & Compliance teams. Technology enabled savings $$$
Reduced Maintenance & Infrastructure Cost (L2 & L3 Support)
Flexible change management –increased speed to live via data accessibility
Consolidated vendor management & Software Costs
Conversational AI assistance –Compliance Copilot concept
Appian Data Fabric: Surfacing data points
from multiple systems
Single Connected ecosystem: Eradication of
reliance on Email
Automated reminders for key events and
milestone dates

Key benefits

Using technology for compliance can offer a wide range of benefits for organisations.

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Scalability

Technology can enable Organisations to scale their regulatory horizon scanning efforts by automating the process of monitoring regulatory developments. This can help Organisations keep up with the volume and complexity of regulatory information and identify new regulatory requirements in a timely manner.

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Efficiency

Technology can automate many of the repetitive tasks associated with regulatory horizon scanning, such as searching for relevant regulations and analyzing their implications. This can save time and reduce errors, freeing up resources to focus on more complex tasks.

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Accuracy

Technology solutions can help Organisations to ensure that they are capturing and interpreting regulatory information accurately, reducing the risk of missed or misinterpreted regulations that could result in compliance issues.

Speed

Technology solutions can help Organisations to quickly identify and respond to regulatory changes, reducing the time between when a new regulation is issued and when the organization becomes aware of it. This can help Organisations to stay ahead of the curve and adapt to new regulatory requirements more quickly

Intelligence

Technology solutions can provide Organisations with insights into emerging regulatory trends and patterns, helping them to anticipate future regulatory changes and prepare accordingly. This can help Organisations to be proactive in their compliance efforts and avoid compliance issues before they arise.

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Cost savings

By automating regulatory horizon scanning, Organisations can save on staff costs associated with manual monitoring and analysis of regulatory developments. Additionally, by identifying regulatory requirements early on, Organisations can avoid costly compliance issues that could result in fines, penalties, or legal fees.

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Engaige Compliance