How to overcome data consolidation challenges for compliance

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How to overcome data consolidation challenges for compliance

With all the complexities of doing business, there is a strong possibility that consolidating compliance training data is causing a major headache.  

Data sprawl is no joketraining content is created, modified and stored in different offices, branches and organizational units around the country, or even the world! 

As a result, it can take a great deal of time and money, especially if done manually, to get the information needed from various spreadsheets, shared drives and other systems. Yet time is not a friend when quick decisions are on the line. 

Manually sifting through data also leaves the door open for compliance violations to go undetected. 

When it comes to compliance, data is essential. It needs to be quickly and easily accessible as well as highly accurate.  

But, with manual processes, data consistency becomes problematic. And this is potentially one of the most dangerous issues that affects the dispersal of data generated or modified in different locations.

How Do I Improve Data Consolidation for Compliance? 

There are a few things that need to be considered when choosing a compliance training solution that can help significantly when it comes to data consolidation. 

  1. Centralized Content Management. There shouldn’t be any reason for a business to complain about not being able to consolidate data from various departments when there is one central content management system integrated within the compliance landscape. This solves version control issues and provides one single source of truth from which to work from. 

  2. Integration. Non-integrated technologies make reporting one of the hardest parts of a compliance team’s job ―sometimes taking weeks to gather data and analyze it. So, it’s imperative that all the pieces, including data, are connected and working as a cohesive system. 

  3. Automation. Manual processes are a big problem when it comes to data consolidation. Automation not only helps speed up processes but also removes the threat of human error—accuracy is important for maintaining compliance. 

  4. Analytics. Analytics is the icing on the cake. After data is consolidated, strong analytics help a business to understand the information so they can make smart business choices.

Selecting a Compliance Solution 

Did you know that 70 percent of organizations are highly impacted by compliance training requirements? 

So, it’s important to find a compliance training solution that can solve your toughest regulatory challenges efficiently and effectively. 

Common issues with regards to training include, 

  • Training content and activities aren’t aligned with established policies 
  • Training and policy life cycles are not synchronized 
  • Lacking integration between learning and policy management environments 
  • Subpar training analytics 
  • Lack of intelligent training process automation 
  • Boring training content 

The tips in the previous section—integration, automation, analytics & content management—all help to unify compliance initiatives and establish a cohesive ecosystem. 

By utilizing this concept, data consolidation will never be a problem because it’s strategically woven into automated processes.  

With complete data available, the system can take that information and provide things like risk alerts, gap analysis reports and learning interaction tracking and analytics. These are all things that help a business get and stay compliant. 

ShareKnowledge is an end-to-end compliance training solution and Brandon Hall award winner for 'Best Advance in Learning Management Technology for Compliance Training.'


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