Necessary Elements for a Governance Software Solution

Shareholders and other stakeholders are calling for a more strategic approach to governance. Industry experts agree that a solution addressing this governance market should have the following attributes:

• The solution should be strategic and enterprise-wide; it must include the people, processes and systems; it must reach all different functions, product lines, and geographies.
• The solution should enable executives to manage risk by giving them a global view of governance.
• The solution should be able to store regulations and enable implementing policies and controls.
• It should allow corporate officers to communicate the policies and certify that the policies are understood and are being practiced.
• It should allow officers to monitor compliance across the enterprise and to be proactive so as to avoid infractions from occurring, rather than reactive and responding only when infractions have already occurred.
• The solution should be flexible and adaptable, allowing officers to add new governance activities along with the existing governance activities.
• The ultimate goal is true corporate governance.

According to Kim Nelson, "Not only do you want your firm to be in compliance but you want to be able to demonstrate that your company is in compliance."

Add to this the fact that executives want a total corporate governance system that will allow them to manage risk, reduce cost, reduce complexity, protect their current investments in compliance solutions and integrate all of the new solutions with the existing point solutions seamlessly.

Essentially, to achieve all of this, there is only one enterprise software solution -- the Polivec Enterprise Governance Solution – that offers all these attributes and delivers the benefits most sought after by corporate officers.