Spreadsheets can’t keep up with compliance management challenges
Spreadsheets like Excel and Google Sheets are often used for compliance management, but they have significant limitations. Compliance involves countless responsibilities, deadlines, and obligations that need to be tracked and managed—areas where spreadsheets fall short.
While spreadsheets may be the bare bones of your management processes, they’re still quite prone to manual errors and lack modern automation capabilities, making it easy to miss important deadlines and increasing the risk of compliance issues. They’re also unable to handle modern workflows, leading to inefficiencies and mistakes that shouldn’t be made nowadays.
As businesses grow, these issues only intensify. Spreadsheets become cumbersome with large volumes of data, especially when multiple users are involved. Managing them also becomes a challenge, and generating accurate reports turns into a time-consuming task prone to errors—adding to the risk of making poor business decisions without a clear understanding of the status quo. Add in the lack of security needed to safeguard sensitive data and it should quickly confirm that spreadsheets fall short in meeting the demands of modern, successful business operations.
VComply vs. Spreadsheets
Spreadsheets were originally built to replace paper systems for accounting and bookkeeping tasks, so it should be no surprise that they fall short in managing complex compliance tasks. The table below highlights common compliance needs and illustrates how VComply can address these requirements more effectively.
Compliance Needs
Task Automation
Pre-built Compliance Library
Evidence Repository
Automated Alerts
Scalability
Data Access Control
Integration with other tools
Simple Collaboration
Audit Trail
Escalation Management
Presentation-Ready Reporting & Analytics
A Solution Built for the Front Line, Back Office, and Compliance Teams
VComply eases the process of risk and compliance for organizations across the globe, helping them confidently manage all regulatory obligations and responsibilities with a system of record that completely adapts to their ideal workflows.
One Place to Access All Your Compliance Data
VComply provides a single, centralized location where you can view and manage all your compliance programs and data efficiently, complete with full audit trails.
Manage Any Compliance Framework
Leverage VComply’s pre-built regulatory framework library to save time and align compliance with your strategic objectives. Standardize processes and ensure consistent adherence to all your regulatory requirements.
Data-driven Decisions with Advanced Reporting
Create and monitor key compliance metrics – reports, intuitive dashboards, and charts to assess team performance, track compliance across regions, and identify potential issues.
Improve Collaboration
Enhance cross-functional collaboration with simplified user onboarding, group creation, and team management. Facilitate joint compliance and risk assessments to ensure regulatory adherence.
Protect Your Business
Centralize all compliance activities, evidence, and reports in one place. Link frameworks, policies, and risk assessments to regulatory requirements for easier management.
Automate Repetitive Tasks
VComply’s software is fully customizable, designed to fit or create your ideal workflows. Whether it’s tracking requirements, assigning tasks within precise windows of time, or setting up automatic escalations, you can streamline processes and concentrate on the most critical activities.
“VComply is the ideal repository for compliance and regulatory requirements. It facilitates the integration of risk and compliance in a very intuitive way”
