In a recent poll conducted by the Open Compliance and Ethics Group (OCEG) and Complí, 70% of respondents said they are still using manual methods for policy and compliance management, such as paper-based binders, assorted spreadsheets and shared drives. While 54% in that same poll stated that automating workforce compliance management is a high priority at their company, it still can be tough to convince executives that automation isn’t an unnecessary expense.
Here’s some evidence to the contrary. An automated compliance program not only better protects the organization from ending up on the wrong side of a law or regulation; it can save money, too – more than the cost of the automated compliance management system. Just ask Tricolor Auto Group, which recently received the GRC 20/20 Value Award for Policy and Training Management.
Workforce compliance management as a budget-saving tool
Expanding from Texas to California, Tricolor Auto Group upgraded from manual compliance and policy methods to the Complí workforce compliance management system. They not only needed to bring current compliance processes under greater control, they also wanted to streamline new employee onboarding and better handle the complexities of new state regulations. Felicia Taylor, Human Resources Director, had used Complí solutions at a previous company, and knew how it would benefit Tricolor.
Since adopting the Complí solution, Tricolor Auto Group has reduced time spent on managing compliance by 50 percent, saving $45,000 every year in management expense since implementation, and eliminating $1,500 in office supply costs.
In addition automation saved them $300,000 a year in salary expense by increasing the HR-to-employee ratio from 1:100, to 1:500, while also improving workforce compliance rates. This helped the dealership successfully avoid and dispute claims that they frequently encountered during acquisition transitions saving them the expense of claims and legal costs, as well as reducing their insurance rates.
Transitioning from a paper-based workforce compliance program to an automated, online compliance management system, Felicia and Tricolor Auto Group were able to streamline policy management and compliance training even as the company faced more complex employee onboarding requirements and encountered new compliance regulations.
GRC 20/20 found that Tricolor Auto Group achieved measureable value in implementing an automated compliance system. If you are presenting your case to the executive team for an automated system, show them the dollars and sense of Tricolor’s results.