Data Governance, Risk & Compliance:
Solutions for fulfilling, reporting and demonstrating compliance
It's nearly impossible to take any business action without someone looking over your shoulder. Multiple government agencies and regulatory bodies apply strict rules and expect prompt, tangible proof of compliance to numerous regulations which may include:
- Sarbanes-Oxley
- Basel II
- U.S. Data Quality Act
- HIPAA
- TREAD
- HEDIS
- KYC
The risks are real. Violations might initiate lawsuits, government action or bad publicity that damages your organization’s reputation. To manage the risk, you need a comprehensive data governance and compliance strategy that can:
- Construct complete financial statements that accurately reflect the state of the business.
- Report material events in a timely, efficient manner.
- Embed proper controls to prevent compliance failures, and avoid financial sanctions.
- Alert management to events that require correction or immediate attention.
The argument for automation
Traditionally, compliance have been compiled by hand into unwieldy spreadsheets. Not only is the process slow and expensive, it’s unrepeatable: every compliance report or project has to return to the raw data to launch another analysis.
The alternative approach is an automated, enterprise-wide effort that collects appropriate data from multiple sources in real time. Any compliance or alert rules remain open to audits and observation; once created, any rule set may be re-used within any application anywhere within the system.
Manual Compliance Activities:
- Slow
- Off-line
- Expensive
- Imprecise
- Unrepeatable
Automated Compliance:
- Fast
- Real-time, multi-systems
- Cost-effective
- Precise and adjustable
- Repeatable and auditable
Trillium Software makes it easier to build data governance efforts into your enterprise
Successful compliance depends on an on-going data process that can correct data errors on the fly and create alerts for more substantive issues. With Trillium Software, you can:
- Connect multiple applications and systems into one automated process that detects problems as they emerge.
- Review, analyze and assess the overall state of your data at any given time.
- Automate the creation of statements and reports that conform to rules you can manage and re-apply at your command.
- Manage hundreds of millions of records from various sources, even when they are organized with conflicting fields and values.
- Reveal rules and actions— unlike the operations of some “black box” screening solutions, Trillium Software’s data quality actions remain completely transparent and leave an open, auditable trail you and any third-party regulators can see.
Bombardier cuts report time from six months to six seconds
We worked with Bombardier on a comprehensive SAP Business Warehouse implementation. Early on, we dramatically changed the reporting cycle. By synchronizing inventory across the enterprise, we enabled Bombardier to create and distribute reports at the push of a button. In an instant, reports that used to take six months to create are now immediately distributed to 300 decision makers all over the world.
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