5 ways modern business compliance software protects your firm

1. Automated issue detection

Business compliance software solutions use automation to help teams find compliance issues before regulators do. Solutions like Intapp Employee Compliance consolidate information about employee financial interests and outside activities, then automatically and proactively alert risk teams about potential problems so nothing falls through the cracks.

Broker feeds that automatically transmit employee transaction and holding information to the system mean issues are caught right as they happen - not weeks later when employees share their monthly statements, and irreversible damage may have already occurred.

These features let compliance teams quickly identify and address violations instead of spending hours painstakingly searching for them.

Intapp Employee Compliance proactively alerts risk teams about potential violations

2. Automated trade pre-clearance

Solutions like Intapp Employee Compliance accelerate trade request processing and save compliance teams time by automatically approving, blocking, or denying trades based on firm watch and restricted lists. Automation supports an accurate, reliable pre-clearance process that minimizes oversights and misinterpretation of trading activities.

3. Centralized document management

Business compliance software solutions improve policy adherence by providing one central hub for completing and tracking attestations, disclosures, and other firm documents. And with Intapp Employee Compliance, if responses deviate from what's expected, they're proactively tagged for review. The solution also sends automated notifications that remind employees to fill out required documentation, so compliance officers don't have to.

4. Comprehensive audit trails and reporting

Systems like Intapp Employee Compliance simplify internal audits and make it easy to respond to regulator requests by providing detailed audit trails for all employee activities. Instead of spending weeks tracking down documentation in multiple locations, compliance teams can quickly generate reports using custom filters and criteria. Compliance officers can also quickly understand where employee compliance efforts stand firmwide with intuitive dashboards displaying aggregated data.

Risk teams know exactly where employee compliance efforts stand with intuitive Intapp Employee Compliance dashboards

5. Vendor due diligence support

SEC Proposed Rule 206(4)-11, designed to protect investors from improperly vetted service providers, expands due diligence responsibilities for registered investment advisers (RIAs). It will make the due diligence process more complex for RIAs and their vendors. Some business compliance solutions can simplify adherence with this pending rule by allowing firms to manage due diligence checks and all required documentation entirely within their platforms.

Intapp Employee Compliance allows firms to manage vendor due diligence responsibilities within a centralized platform

Protect your firm with a modern business compliance software solution

Using outdated software to ensure employee compliance with firm and regulatory policies is risky - especially with dozens of new rules looming on the horizon. Just one misstep has the potential to wreak havoc on your firm's finances and reputation.

Transitioning to a modern business compliance software solution like Intapp Employee Compliance will help you avoid this fate. It helps your firm effortlessly manage adherence to firm policies and regulations, no matter how many rules there may be.

Contact us to see firsthand why leading firms such as Argonaut Private Equity choose Intapp to manage, monitor, and enforce employee compliance.