MONOCLE INSIGHT

Compliance Reporting: The Path to Automation

Insights>Compliance Reporting: The Path to Automation

The level of regulatory compliance facing the financial services sector has increased significantly in recent years. In South Africa, the compliance reporting burden is no less onerous with financial services organisations facing stringent compliance reporting requirements from the country’s regulators.

Compliance reporting involves the processing of significant amounts of data and as organisations increase in size, so too do they experience a more evident need for an automated reporting approach.

A successful transition to an automated reporting solution will present an array of benefits for an organisation, but to overcome the challenges of implementing such a solution requires a robust approach and well-designed plan.

In this research paper, we discuss the importance of automating your organisation’s reporting process and how such a process can be successfully implemented using a multi-stage methodology.