Policy Development Software
Streamline your Policy Management program with LogicManager’s comprehensive Policy Development solution package.
Why a Risk-Based Approach to Policy Development is important:
LogicManager’s Policy Development Solution
Here’s what you can expect with LogicManager’s Policy Development solution package:
- In-app document editing capabilities, powered by our Office365 integration, give you the ability to keep policy documents readily available in the application. This also makes it easier to share new updates or make suggestions for new policies.
- Keep an inventory of your current policies using our Taxonomy feature. This technology helps you draw key connections across your enterprise to see how policies are impacting others.
- An out-of-the-box policy checklist for reviewing current policies and developing new ones. The fields on this checklist can be fully customized to fit any current processes and the unique needs of your organization.
- The Policy Development workflow can fully automate your process. Once a new policy checklist has been filled out for a policy that needs to be developed, a full review and approval process can be initiated with little to no manual manipulation. Explore a number of our other automations in our robust workflow engine to help facilitate your work.
- Leverage our Policy Management Report & Dashboard Catalog (or customize any report to fit your exact needs). Some common examples used for policy development include:
- Policy Field History Report: Allows you to see current and prior values for each profile field for a specific policy, so you can keep detailed records on who and when policies were updated and what changed.
- Policies Dashboard: Get a graphical, summary view of your policies.
- Overdue Task Report: Shows overdue tasks, which can be helpful in showing you where there are outstanding items on your policy development process and knowing who to follow up with.
Achieve Policy Development with LogicManager
Automate your processes
LogicManager enables automation throughout the Policy Development process. From an online form where employees can submit new policies they think are worthwhile, to a workflow that can automate the typically manual email back and forth, fuel engagement with ease.
Stay ahead of the curve
In today’s ever changing environment, make sure your policy program is adaptable and working for you, not against you. The policy development automation helps ensure that while your organization is experiencing large numbers of employees working from home, the most necessary processes can still go on as normal. This also helps with changing regulations and requirements; if you are reviewing and revising your policies on a set frequency, you are able to provide evidence to any regulatory officer that you are doing your due diligence in making sure your policies are up to date.
Track exceptions & draw trends
LogicManager also offers out of the box solutions for policy exception logging and tracking. These exceptions can be linked back to the original policy so that the organization can be reporting out on trends or policies that have accrued a high amount of exceptions. This tracking will trigger your organization to take a deeper look at that policy to determine if it is actually fitting the current needs, or if a new policy all together needs to be put in place.
What is Policy Development?
Policies aren’t born out of thin air. They are the result of careful planning and proper development. The policy development process involves thoughtfully creating new policies, and should involve numerous areas of your organization. Whether it’s a response to a regulatory finding, an internal audit that raised some issues or just recognition of room for improvement, there will almost always be an opportunity and a need to create new policies. LogicManager helps facilitate the policy development process and enables you to establish protocols for reviewing them in the future.
If your organization does not have a clear process in place for developing new policies and updating existing ones, you’re opening yourself up to the risk of noncompliance. If employees do not know where to raise new policy ideas or where to review current policies, they are more likely to do things unknowingly that expose your organization to risks. Consider the consequences of repeat policy violations: if your employees or your organization as a whole is unable to consistently enforce internal policies, what else is it liable to?
These risks can hold both a hard dollar implication in terms of fines and fees associated with lawsuits. From a soft dollar perspective, they can negatively impact your reputation. Prospective business partners, customers, investors and other key stakeholders are going to be less likely to work with you if your business is continuously portrayed in a negative way.