What Makes SharePoint Ideal for Building Policy Management Solutions
No matter which industry you might be operating in, your business, just like others, is regulated. Since time immemorial, governments, regulatory authorities, shareholders, and so many stakeholders across the board have come up with and implemented a variety of suitable and relevant regulations. And the drive to regulate businesses has become more pronounced than ever, owing to the uncertainties that plague markets and industries across the globe. It, in turn, means the pressure on businesses to keep up with such regulations has also gone up. Because non-compliance means heavy monetary penalties, sanctions, bans, prison terms, and whatnot.
So, this much is clear: Compliance with the requisite policies and regulations is an absolute must. Unfortunately, making sure of that is a highly complex process — one that necessitates the use of a thorough and robust policy management solution. Now, of course, given the need for such tools, the market has plenty of options to offer. While some are better than the others, there’s one tool that has garnered quite a following for itself in the policy management solutions market: SharePoint. We know, we know — it sounds like a hard-to-imagine match, but trust us when we say SharePoint is an excellent choice of tool for seamlessly managing policy and compliance. To help make a case for it, we have listed some of its most compelling benefits for you.
1. Streamline workflow: Easily one of its most significant and best benefits, SharePoint comes loaded with this nifty little thing called automated workflows. And what does that do? Quite a bit, actually; for starters, this functionality allows one to make sure that a newly formulated policy is sent to the appropriate folks for approval and then distributed among the target audience to ensure that they are up to date with the latest developments in this regard and adjust or adapt their KRAs to ensure compliance with the policy.
2. High level of security for storage: The safety of the data, documents, and more held in storage is of crucial importance to any business. To help with that, SharePoint offers features such as version control, ability to keep an eye on who has accessed policies, when, and if they have made any changes to them; and permission-based access. All of these features help organizations ensure excellent safety and security of all the data under their care.
3. Ensure compliance: Given the vast number of features and functionalities, such as assessments, real-time dashboards, alerts, and more, it becomes incredibly simple to ensure compliance with the plethora of regulations and policies that are relevant to your business.
As the above discussion demonstrates, a SharePoint based policy management solution can do wonders for your business. However, to ensure that it can truly deliver what it is capable of, companies must ensure that the answer is tailored following their unique requirements. And to make sure of that, we recommend you get in touch with a trusted SharePoint development company whose expertise can help you get the best possible tool for your business.
