IPACS® Automated Compliance Management System
Compliance is crucial to any business. Failure to follow industry regulations puts your business at risk for steep fines, as well as the loss of licenses, business and reputation. However, not all businesses have the resources to keep up with ever-changing regulations, let alone manage, communicate and enforce all aspects of compliance across their entire organization, which is where a compliance management system becomes important
IPACS® (Integrated Performance Audit and Compliance Software) is a powerful SaaS compliance management software built for your budget. Free to implement, managed by Provana and customized to your needs, IPACS® compliance management system automates and centralizes key compliance tasks to help ensure your business adheres to industry regulations and state and client requirements.
IPACS® Compliance Management System Offers A Suite Of Intelligent Features For
IPACS® compliance management system's modular design allows you to adopt the functionality you want, then add on more as needed. That a la carte approach, combined with free implementation, makes it possible for any size business to get enterprise-grade technology – and without the need for IT infrastructure and staff.
Policies And Procedures
Efficiently manage policies and procedures in a central location with automated version control and online approval, saving more than 30% of the time it would take to perform the tasks manually. Easily present employees with the latest versions of documents, notify them of changes and track their acknowledgments.
Training And Testing
Automate the administration of compliance training and testing through customized test schedules and in-platform testing in our compliance management software. Prebuilt reports automatically notify you of lapsed certifications, delinquent users and test scores. Automated scoring saves hundreds of hours each quarter.
Audit And Compliance
Manage internal and external audit calendars in a central location and create automated alerts to inform you of upcoming audit milestones. You can also track nonconformities and take corrective actions to demonstrate a remediation process.
Create customized compliance documentation requirements for third-party vendors, complete with automated alerts for missing or expiring documents. You can also set up third-party vendor audits with alerts for upcoming audit milestones.
Customizable complaint logs allow you track and manage consumer feedback in a centralized online location to ensure timely resolution. Analytics offers data-rich insights, allowing you to identify trends, improve issue resolution and reduce complaints.
Business Continuity Plan Management
Create and deploy a robust business continuity plan with clear ownership and better awareness of tasks across your entire organization. Easily print and test plans to help identify oversights and gaps with the IPACS ®’compliance management system.
IPACS®’ external compliance modules connect you with your vendors, providing intelligent reporting and timely alerts that make it easy to track, manage and maintain oversight of partners and service providers.
Network Manual Management
Store and manage operating standards and instructions for service providers in a centralized location with automated version control and online approval. Publish changes to your entire network automatically, and allow service providers to receive alerts when updates are made and acknowledge them in IPACS®, providing a clean audit trail.
Remote access to a service provider’s IPACS® instance allows you to maintain vital records and documents and import them into your own instance. You also have the ability to view vendor policies, procedures and test results, and receive expiration alerts.
Network Audit Management
IPACS® simplifies network audits by streamlining the process of sending and reviewing questionnaires and automating audit report generation. You also have the ability to manage vendor audit calendars, set alerts for pending audit activities and provide audit assistance, such as providing missing compliance documents.
Centralized Complaint Management
Get a secure real-time view of vendor complaints when they’re logged. Receive alerts for new complaints and complaints at defined stages. In-depth reporting features allow you to identify complaint trends within your network and with individual service providers.
Reports And Analytics
IPACS® offers customized dashboards that deliver key compliance metrics and data. Powered by Microsoft BI, the in-depth business intelligence provides invaluable insights and trend analysis that can be used to improve network compliance. Compare compliance management system reviews and current market trends on websites like Capterra and Software Advice
Improved Productivity And Profitability
The value in compliance isn’t just risk mitigation. The structure implemented through compliance helps drive operational rigor and productivity, which affect your bottom line, some of which is also highlighted in FDIC guidelines. Since the advent of the Consumer Finance Protection Bureau (CFPB) and its requirement for all collection agencies to have a compliance management system, compliance has become a line item in every company’s budget. But the additional cost burden has significant rewards – companies that make meaningful investments in compliance get ahead of the pack by winning more RFPs than their competitors.
If you are a small or medium sized company in this industry, you are probably grappling with the pros and cons of compliance vs. changing company practices to reduce regulatory risk. IPACS® can improve profitability by:
- Increasing market share through an improved compliance profile
- Reducing costly errors through better communication of policies and procedures
- Saving at least 35% of the time spent managing compliance by automating processes
- Minimizing time preparing for audits
- Reducing the time spent manually administering and scoring compliance tests by at least 75% each quarter
- Upgrading to technology that’s efficient, effective and affordable
- Helping to win an otherwise costly bona fide error defense