What is Exception Management?
In today’s pandemic, there are more exceptions to the rule than ever before. The abnormalities in our day to day lives – like wearing masks, sanitizing frequently and social distancing – have impacted how businesses everywhere operate. Whether organizations are offering leniency or enforcing stricter regulations than usual, they’re forced to be flexible no matter how foolproof and comprehensive their policies may be when things are business as usual.
It’s hard to tell when things will return to “business as usual.” In order to stay on top of things, you need to be as efficient as possible. Otherwise, it will feel impossible to keep track of reviewing and approving the growing number of exception requests. LogicManager offers a comprehensive Exception Management solution that allows you to easily automate your processes and ensure that every request gets the attention and review it deserves.
Exception Management Risks
By carrying out your exception management efforts via spreadsheets and other manual processes, it’s difficult to gather evidence that you were not negligent. Proving that an incident did not materialize as a result of negligence can be a lengthy, arduous process when you must pull from various sources and compile a report from scratch. If something is missing, you could be subject to civil or criminal penalties.
Litigations due to negligent policies can be pricey, and they also hold a decline in your company’s reputation. When your reputation starts to take a turn for the worse, customers and prospects will follow – meaning a harsh impact on your bottom line.