Transaction accuracy, evolving regulations and data volume management. Just some of the ongoing compliance challenges any AP department could face. Having automation in place cuts your workload down on all of these. See our full blog to see how that breaks down to help save your team time, and more opportunity to focus on bigger jobs.
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🚨 Legal liabilities lurking in your CX strategy could be your downfall! 🚨 Compliance and legal liabilities are not just about fines and penalties. They can ruin your brand's reputation. That's a price too high to pay. And to be fair, both options suck. You're not just a customer service executive. You're also a compliance officer. And if you're not thinking like one, you could be setting your company up for potential disaster. Say goodbye to the "customer is always right" mantra for a moment and embrace the "Compliance is always right" mindset. Here's a 3-step guide to ensure compliance in your CX strategy: 1. 📖 KNOW YOUR LAWS: The first step is simple. Know the laws. GDPR, CCPA, HIPAA – these aren't just fancy acronyms. They're your new best friends. 2. 🛡️ BUILD A COMPLIANT CULTURE: Make compliance a part of your company's DNA. Train your team. Create clear guidelines. Monitor and correct non-compliant behaviors in your contact center. 3. 🔍 AUDIT, AUDIT, AUDIT: Regular audits are your safety net. They help you spot potential issues before they become liabilities. Remember, Compliance isn't a choice. It's a necessity.
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How can we streamline and optimize the revenue cycle process to improve efficiency and accuracy? -Centralized Data Management -Standardized Processes -Automated Eligibility Verification -Electronic Claims Submission -Claims Scrubbing -Revenue Cycle Analytics -Staff Training and Education -Streamlined Payment Processes -Regular Audits and Reviews -Continuous Improvement Culture
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Transform Compliance Management in your BFSI company as per RBI's January 2024 Notification. Hurry up as the first due date has already passed. Swipe the carousel which highlights the need for building, living and nurturing the compliance culture. The commitment and involvement of leadership is a must to drive the compliance culture to meet not only meet the compliance requirements but also uphold the highest standards of integrity and ethical conduct. Strengthen Compliance in Banks and NBFC’s as per RBI Notification using Complinity Compliance Management Software. Complinity, India’s Leading Compliance Software, helps companies comply with Central, State, Municipal and Industry Specific laws like RBI, SEBI, IRDA applicable to the company. Request a demo to explore the right Compliance Software Solution for your company. https://bit.ly/3GEGgux Think Compliance. Think Complinity. Dr. Sumit Pahwa Sanad Suman Preeti Pahwa Ankita Agarwal
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Compliance is a tool, not a weapon. The goal of a compliance team is to build tools and processes that help the organization follow and adhere to rules and regulations, not to create barriers that prevent the organization from getting work done. When the compliance officer opts for the ‘weapon’ approach, compliance will be perceived as an obstacle that could eventually suffocate the organization and stifle innovation. By choosing the ‘tool’ route, compliance will become a stepping stone that helps the organization stand taller and differentiate itself from the competition by leveraging compliance to gain customer trust.
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Expert Advisor and Trainer in Anti-Financial Crime & AML | Founder, AML Cube | Building Compliance-by-Design Programs for Businesses | Helping C-level executives build their online presence | 40k+ followers
"You are not defined by the tasks you execute, but by the impact you make" The tasks ✅ a compliance professional executes are important. But it's the impact 🙂 that they have on people and the business that truly defines them. Because people will not remember 💭 the tasks you executed but the impact you made in their professional lives. The best compliance professionals know and understand the regulations but they also focus on building something bigger by inspiring others. 💡 Here's how some compliance professionals differentiate themselves: 👉 𝐅𝐫𝐨𝐦 𝐢𝐧𝐬𝐭𝐫𝐮𝐜𝐭𝐢𝐨𝐧𝐬 𝐭𝐨 𝐠𝐮𝐢𝐝𝐚𝐧𝐜𝐞 Compliance professionals understand the rules, but the best ones translate them into clear, actionable insights. 💡 They help colleagues navigate the "why" ❓ behind regulations, fostering a deeper understanding and commitment. 👉 𝐅𝐫𝐨𝐦 𝐦𝐢𝐜𝐫𝐨𝐦𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭 𝐭𝐨 𝐜𝐨𝐥𝐥𝐚𝐛𝐨𝐫𝐚𝐭𝐢𝐨𝐧 Effective compliance isn't about telling other departments what to do. 🤐 It's about open communication, working hand-in-hand with different departments, and building trust through transparency. 👉 𝐅𝐫𝐨𝐦 𝐜𝐨𝐦𝐩𝐥𝐢𝐚𝐧𝐜𝐞 𝐭𝐨 𝐜𝐮𝐥𝐭𝐮𝐫𝐞 Great compliance professionals don't just enforce the rules. They foster a culture where everyone is inspired to protect the business from the consequences of financial crime. 🚨 👉 𝐅𝐫𝐨𝐦 𝐛𝐥𝐚𝐦𝐢𝐧𝐠 𝐭𝐨 𝐚𝐜𝐜𝐨𝐮𝐧𝐭𝐚𝐛𝐢𝐥𝐢𝐭𝐲 Compliance professionals take ownership of mistakes and focus on problem-solving and prevention. This leads to a better, stronger and more resilient team. 💪 The outcome ❓ A company that thrives, avoids costly mistakes, and fosters a culture of trust – a win for everyone. Have you worked with a compliance professional who had a positive influence? Share your stories in the comments!
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🔒 Excelling in Internal Controls: 5 Valuable Strategies 🔒 In today's intricate business landscape, the significance of effective internal controls cannot be overstated. They serve as vital safeguards for assets, ensure compliance, and optimize overall business operations. Here are five essential strategies to elevate your mastery of internal controls: 1️⃣ Gain In-Depth Business Insight: Align your internal controls with the unique processes and risks inherent to your business. Tailor your controls to precisely fit your organization's distinctive requirements for maximum efficacy. 2️⃣ Thorough Documentation: Robust internal controls hinge on meticulous documentation. Maintain comprehensive records of policies, procedures, and controls, facilitating seamless tracking and performance evaluation. 3️⃣ Continuous Vigilance: Implement real-time or continuous monitoring systems to promptly identify issues and take corrective measures. 4️⃣ Segregation of Responsibilities: Distribute responsibilities among team members to thwart fraud and errors. Ensuring that no single individual has unchecked control over critical processes is crucial. 5️⃣ Stay Informed: Keep abreast of industry best practices and regulatory changes to ensure the ongoing relevance and effectiveness of your internal controls. Remember, internal controls transcend mere compliance; they represent a strategic asset capable of enhancing efficiency and safeguarding your organization. 🚀
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Fleet Operations Controller at WS Insight| Certified Risk Management Professional |Criminologist |Security Management
There has been a longstanding perception that private security companies in Kenya prioritize force over customer service, lack professionalism, and tend to focus on enforcing laws and regulations rather than service delivery. In order to overcome these stereotypes and build trust with their clients, they must prioritize customer service and professionalism among their staff. This can be achieved through investing in comprehensive training programs for their staff. Companies like Lady Askari rolled out the Lady Askari Training Academy which has continually offered different courses such as customer service, public relations etc. to their staffs. Training should not only cover essential security skills but also emphasize effective communication, conflict resolution, and ethical conduct. Regular workshops and ongoing professional development can keep security personnel updated on industry best practices, ensuring they are well-equipped to handle a variety of situations with professionalism and courtesy. Private security companies should shift their focus from a law enforcement mentality to a customer-centric approach. Security personnel should be trained to prioritize customer service and view themselves as service providers rather than just enforcers. This change in mindset can lead to a more positive interaction with the public, fostering a sense of security and trust. A clear and comprehensive code of ethics and conduct is essential for private security companies to instill professionalism within their ranks. This code should outline the expectations for behavior, adherence to legal standards, and respect for individual rights. By establishing a strong ethical foundation, companies can build a reputation for integrity and responsibility, positively impacting both customer perception and employee behavior. To enhance professionalism, private security companies should prioritize accountability and transparency. This includes clearly defined roles and responsibilities, transparent communication with clients, and a commitment to addressing any concerns or complaints promptly. By holding their staff accountable for their actions and decisions, companies can foster an environment of trust and reliability. Finally, they must encourage continuous feedback and improvement. Creating a culture of continuous improvement is vital for private security companies aiming to enhance customer service and professionalism. Regular feedback sessions with both clients and employees can provide valuable insights into areas that need improvement. This feedback loop allows companies to adapt their strategies, address issues, and continuously elevate the quality of their services.
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Revolutionize Your Compliance Monitoring with Complinity! Tired of outdated, macro-enabled spreadsheets for compliance? It's time to transition to a robust, software-based solution. Complinity brings organization-wide visibility, seamless collaboration, and automated compliance monitoring to your fingertips. Say goodbye to manual methods and embrace the future of compliance. The clock is ticking—stay ahead of the RBI's 2024 deadline and ensure your compliance processes are streamlined and efficient. Watch our video to learn more and take the first step towards transforming your compliance journey with Complinity! Complinity is India’s Leading Compliance Software helping companies comply with corporate and all other laws applicable to the company . Request a demo to explore the right Compliance Software Solution for your company. https://bit.ly/3GEGgux Think Compliance. Think Complinity. Dr. Sumit Pahwa Sanad Suman Preeti Pahwa Ankita Agarwal
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Contact Center Ops Supervisor at Dubai Police | Customer Experience Expert | Helping Companies, Governments and CX Practitioners to Increase Revenue and Word-of-Mouth by Enhancing Customer-Centric Operational Excellence
A second Immutable law in the Contact Centers industry is a principle you may recall as ((the law of diminishing returns.)) For example, if there are just 30 rep, the service level is really poor. Over 23% respond in 20 seconds, but when one more person is added, the response rate nearly doubles, reaching 45% in 20 seconds. Another agent increases it to 61%, then 73, 82, 88, 92%, and so on. You continue to add agents, but you're seeing diminishing returns. Now this is interesting. With poor service levels and even modest changes, the staffing has a big impact To prevent this from happening, you can take the following steps: 1. Make sure that your staff numbers are as precise as possible. If service levels fluctuate throughout the day and week or are consistently lower than your goals, the solution may be to focus on the foundations of contact center management—a strong forecast and schedules that better match staff to workload. 2. Make sure every employee understands how much they contribute, even if they are willing to feel like "one of many." Explain the service level and show them the call load patterns so they understand how critical schedule adherence is. 3. Provide supervisors and reps with real-time queue information so that they may change their activity based on current conditions. 4. Back to basics, if necessary, if queues are consistently and continuously backed up, occupancy will be high. You will have to be mindful of the need for more breaks, even though they add to the problem. The actual cure is to improve the planning process and resources. Customer Experience Customer Service Service-Level Agreements (SLA) Employee Experience Customer Service Operations
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Quality Auditing Analyst | Fraud and Dispute Analyst| End to end dispute resolution| Consistently enhancing the skill set through continuous learning and improvement
Quality Auditing Analyst: The unsung hero in the success of any process. but why? 1) Guardians of Standards: Quality Auditing Analysts ensure that every process adheres to the highest standards, maintaining consistency and reliability. 2) Problem Solvers: They identify potential issues before they escalate, implementing corrective actions that save time and resources. 3) Efficiency Experts: By optimizing processes and eliminating inefficiencies, they drive productivity and enhance operational performance.Risk Mitigators: Through rigorous audits and compliance checks, they minimize risks and protect the organization from potential pitfalls. 4) Customer Advocates: They prioritize customer satisfaction by ensuring that products and services meet or exceed expectations, building trust and loyalty. 5)Continuous Improvement Champions: Quality Auditing Analysts foster a culture of continuous improvement, encouraging innovation and adaptation to stay competitive. 6) Data-Driven Decision Makers: They leverage data analytics to provide actionable insights, guiding strategic decisions and fostering informed leadership. 7)Unsung Collaborators: Working behind the scenes, they collaborate with various teams to ensure seamless operations and cohesive efforts towards organizational goals. 8) Compliance Enforcers: Ensuring adherence to regulatory requirements, they safeguard the organization's reputation and avoid legal complications. 9) Value Adders: By driving quality improvements, they add significant value to the organization, contributing to its long-term success and sustainability.
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