Digitally represent compliance rules with Flowers

When mentioning compliance violations, many people first think of the well-known scandals: RBB, VW, Deutsche Bank or Wirecard. From a lack of cost overview in public institutions to tangible corruption, many cases generate widespread media coverage.

Compliance Rules has always been a major task in the public sector, government agencies, municipalities, public utilities, and broadcasters. Today, this issue also affects almost all companies.

The study “Economic Crime and Corporate Culture 2013” (Pricewaterhouse Coopers AG together with Martin Luther University Halle-Wittenberg) shows: In 2007, 41 percent of the companies surveyed had implemented a compliance program; in 2013, the number had already risen to 74 percent. The importance of compliance has steadily increased. Today, there are hardly any more companies that do not have formal compliance programs.

It is important that compliance applies equally to public or private companies of different sizes and industries, worldwide. Compliance rules are primarily based on clear regulations that prevent crimes such as bribery, corruption, data protection violations, and other breaches. All of these organizations want to quickly identify regulatory violations and avoid risks. Because these violations do not only damage the reputation of companies, they involve extremely high fines. It is therefore more than a matter of setting an organization's ethical standard.

The violations that have become known show that this avoidance is not successful in 100% of cases.

Compliance remains mandatory

It can be predicted that regulatory pressure will remain high in the future and is more likely to increase at European level.

In addition to classic compliance issues such as anti-financial crime, securities trading or risk management, this increasingly includes regulations relating to data protection (GDPR), disclosure requirements or, for example, market abuse regulations. In addition to legal and standard standards, the Code of Conduct focuses on corporate culture. Ecological Aspects wants to continuously find their way into compliance rules.

Digitalization still underrepresented

One published by Deloitte and Quadriga University Study “The Future of Compliance 2019" Shows: 23% of the 504 compliance officers surveyed in German companies do not use any IT tools for their compliance work. At the same time, over 70% of respondents expect IT-based solutions to increase.

The direction is therefore decisively predetermined. As a holistic and flexible digital automation solution, Flowers helps to ensure compliance rules across the entire company.

Safeguard compliance processes

Our workflow-supported software Flowers helps you to easily map your compliance rules and substantially secure your process. This applies equally to authorities, parties, municipalities and companies.

The Flowers Workflow Builder adapts exactly to your compliance process. Each process step is carried out as you have defined — and automatically.

You can dynamically store regulations in the system without special programming; Flowers stringently ensures compliance with them. Deadline management, including representation regulations and escalation management, lead to effective and efficient compliance processes.

Are you interested in the Composable Business Processes Approach? Read here More about that.

Achieve 100% transparency

The Flowers dashboard gives you a reliable and detailed overview of all process steps and rules in real time and around the clock. Your requirements for the 4 or 6-eye principle are meticulously implemented and can be understood at any time.

Permissions and Compliance

Our highly granular permission levels ensure that your users can focus on what they can and should do. Your permissions can be set manually or automatically to determine what can be seen, searched, downloaded, shared, and so on, based on your organization's compliance and policy requirements.

Maintain control with confidence

Our software allows you to have individual processes checked separately by the compliance department using a random factor. With the universal search, you and all responsible persons can easily check past processes and workflows. The activity log allows you to keep an eye on the status of the processes at any time.

Making complex regulatory topics universally usable

The modern, clear user level/user interface makes implementation easy for your compliance team: There is no change management risk. All users, from experienced computer experts to meticulous file lovers, are integrated and work with flowers without any problems.

Achieve transparency and security with Flowers

Our tasks include using our workflow-supported software to ensure that you can easily map your compliance rules with your company or organization. In this way, we then ensure that the regulations that you have defined are complied with by the system.

Flowers is your support to make your compliance program transparent and secure in the future. Make an appointment with us today:

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