Corporate Governance Software Solutions

Companies today must demonstrate to government officials, external auditors, and investors that they are proactively implementing governance programs across their enterprises. Companies must show that they:

• Create policies that fulfill the requirements specified by regulations and company best practices.
• Inform employees of those current policies and have employees verify that they understand and abide by the policies.
• Monitor, enforce, and report on these policies.
• Take immediate action to remedy any non-compliance incidents.

But in order to gain a real business advantage from compliance, companies need to be able to:

• View and organize all the governance activity from one vantage point.
• Enable corporate officers to get real-time information.
• Break down regulations and standards and link them to specific policies and detail all the procedures.
• Distribute all or appropriate parts of a policy to employees.
• Define new procedures spontaneously.
• Define, change, add, implement and monitor policy enforcement at any level.
• Do "what if" risk analysis, allowing officers to fine-tune compliance efforts.
• Achieve these results with less resource, in less time, at a lower cost, while protecting investments in current compliance software.

This is no small task considering that regulations may be lengthy and the policies and procedures fulfilling them total in the hundreds. One finance industry regulation, the Anti-Money Laundering Regulation, alone, commands a 300-page document detailing the many practices and procedures that corporations need to follow in order to be in compliance.

In order to accomplish these governance tasks, companies need to have a single, comprehensive, integrated view and complete control of all of their governance activities – which only Polivec can offer.

Polivec is distinct in the marketplace because it is the only company that has taken a fresh approach in addressing the governance issue. Polivec has started with an enterprise perspective – a "view from the top" of the organization, comparable to the view of a senior corporate risk, compliance or security officer. The most heavily regulated industries, such as financial services, healthcare, energy, and insurance, are among the first adopters of the Polivec Solution.

Polivec's Enterprise Governance Solution -- integrates and controls all aspects of governance. The cornerstone of the solution is the unique Policy Center – it allows officers to create and store policies that fulfill regulations. All required procedures and tasks, needed to fulfill those policies, across all corporate organizations, people, processes and systems, are housed in one place. The Center determines who has access to the information, and who has reviewed and approved the policies.

Other parts of the Polivec Solution, inform appropriate employees, collect real-time data from all compliance activities, organize both automated and manual tasks, link the practices back to their specific policies and regulations, ensure that policies meet regulatory requirements, monitor the enforcement of all of the policies, highlight gaps in compliance, and signal management when any lapses occur so that they can be addressed immediately.

The Polivec Solution integrates all the compliance data from end-to-end in one seamless software platform. The Solution incorporates state-of-the-art development techniques, such as, Service Oriented Architecture (SOA), J2EE programming language, and utilizing industry standard relational databases. Investments in current point solutions are also protected. If a firm has existing compliance software, this can be immediately integrated into the Polivec Solution. The Polivec Solution is designed to accommodate implementations, in specific functional areas along with specific regulations, and then grow to encompass all functional areas, over time, as new regulations and policies are phased in.

Polivec offers true integration and governance and is distinct from other vendors – content management vendors, business process vendors, risk management vendors, information technology vendors -- who are trying to adapt their departmental, point solutions into broader governance solutions. The results are governance activities that are disconnected, disjointed and repetitive. There is no interoperability. Point solutions don't communicate or share data with one another. And the net result is high risk and high expense -- neither that companies can afford.