This may be a bold statement, but I believe one of the greatest creations of mankind is team sports. Not only does team involvement add value to a person, it also can be related to almost any aspect of life. In the game of regulatory compliance software, the team goal is to keep everybody safe by managing risk and regulatory change management. As is true for any team, the success of the organization depends on all of the players. When one basketball player fouls another, the entire team has to suffer the repercussions of the free throws. In a more serious, detrimental way, this is completely true for organizations involved in high-risk projects. If one employee is not doing his/her job properly, all of the employees are put at risk. This is why competency management is such an important aspect of regulatory compliance. If there is a gap in the team of employees, there is a gap in compliance management software and safety. Losing the compliance game can affect a lot more than just a team’s record.
Similar to the way a coach is in charge of maintaining the skills and endurance of each team member, the leaders of the company are responsible for keeping each employee up to date on policies and training. A better competency management system means a more productive, safe work environment. With PREDICT360, competency management is made easy through the intelligent mapping within the system. The regulatory knowledge base (RKB) stays updated on any regulatory changes, and with these changes, training may be required. Training plans can be mapped to each requirement so that the employees are aware of what courses they need to take. On top of this effective way of mapping training and policies and procedures management to each individual requirement, the software has an expansive learning management system in it with over 6000 courses available. Without a competent workforce with the necessary skills and knowledge, compliance is a blindfolded half-court shot in the dark.
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