iComply releases the 2010 edition of its award-winning regulatory compliance software- massive savings made possible
27 January 2010
iComply announced today the 2010 release of its iAppraise Risk and Compliance Software.
iAppraise is a highly focused and specialised application for the management of compliance through reviews, assessments, and oversight programs for corporate, regulatory and institutional users. Receiving frequent accolades for its flexibility and ease of use, the application has been extended and enhanced to include a number of key new features:
Redesigned, Full Featured Online Checklist
We have completely redesigned the audit presentation and response interface. The new, intuitive interface coupled with a host of advanced new features demonstrate ongoing software innovation and thought leadership.
Features include:
- Complete user control over checklist content and configuration
- Import and export functions allow rapid checklist creation and maintenance
- Modify checklist content and feature visibility according to individual user permissions
- Set up complex business rules to branch workflow according to user responses
- Provide questionnaire based guidance and online resource material to guide assessors and external users, including embedded hyperlinks to related online content
- Create a library of standard phrases to improve audit response time, improve consistency, reduce errors and speed up reporting
- Allow automatic, response-based text insertion to provide content for accurate, hands-free self assessment reports
- Set up validation rules to ensure text responses meet your formatting and data requirements - Ideal for facilitating forms for inbound notifications via the portal (see below)
- Set up an infinite range of question responses using a combination of buttons, check boxes, large or small (validated) text fields, drop down lists etc, with each item having appropriate scoring
Self Service Portal
“This key attribute gives iComply an additional major point of difference in the market”, said CEO Tony Stephenson, “but more importantly, provides our users - such as regulators – with the means to save massively on compliance oversight.” Continuing, he said “A regulator, or any other user, can set up intelligent self assessment questionnaires on any subject, as well as notification forms, and make these available to stakeholders via the portal. Users can respond online, and upload documents, records and other evidentiary material as part of the assessments – and data is recorded directly into the database. The application notifies an internal resource for evaluation, clarification and hopefully, approval, or sends out overdue reminders to ensure compliance stays on track. This means regulators can combine online assessments with a sensible on-site surveillance program, thereby reducing resources and cutting back substantially on time, travel and other external expenses.”
Enterprise Risk Management
“What’s new about this optional component is our focus on control auditing and assessment as an integral part of Risk Management”, says Stephenson. “Too often Risk Management is an end in itself, and ignores the critical appraisal of adherence to, and the adequacy of, mitigation control measures.” “You don’t have to look too far to work out the devastating effect of oversight failure, but this is understandable because oversight is a ‘last yards’ defence, and there few tools around that have the feature set to accommodate a full range of requirements”.
iAppraise, with its flexibility, integrated mobile tools and powerful features, makes it possible and practical to implement robust compliance programs, in all industry sectors.
iComply, based in Australia, recently announced the uptake of its iAppraise product by the Australian Stock Exchange as the online technology platform for its Participant Compliance program.