It's not easy being a Compliance Professional! There are constant evolving changes in global data privacy and compliance laws such as GDPR (General Data Protection Regulation.) Coupled with fine-grained rules in regulated industries such as life sciences, accuracy in regulatory reporting of transactions such as those for open payments, EFPIA (European Federation of Pharmaceutical Industries and Associations), sample compliance and adherence with corporate integrity agreements (CIA) are a must.
Your responsibilities go beyond the fines that can be levied on your company, not to mention the thousands of hours lost due to mandated training, and data management to generate complex reports. Beyond these financial challenges, you also have to be concerned about brand reputation, and the security and privacy of your customers, while keeping all of your IT and business teams in coordinated and adhering to standards. We feel your pain!
Reltio data-driven applications keep data safe and secure from an infrastructure and data management perspective, while also providing configurable options that track, audit and report on every click, view, update and merge of data across every source. Reltio has fine-grained, attribute-level tracking for every record stored. With full point-in-time query of information, and the ability to restore and revert values back to it's original form, Reltio goes beyond any regulatory requirement dictated today.
Rather than just meeting compliance needs, Reltio's Modern Data Management Platform as a Service (PaaS) allows dynamic analysis of the data, with machine learning revealing relationships and opportunities that can proactively reduce violations, and also help you improve your customer engagement and satisfaction levels. Taking mandated compliance and turning it into an opportunity to personalize, delight and exceed customer expectations.
Some unique capabilities for Data Stewardship and Governance include:
Business Data Stewardship
Comprehensive, configurable DQ and governance built-in
Used by companies across multiple industries with stringent data security and privacy needs (e.g. healthcare & life sciences sector with HIPAA), Reltio customers are able to remediate data, and easily create cases for review.
Built-in and Customizable Workflow
Data Change Requests (DCR) initiated by frontline business users on mobile devices are entered, prioritized and queued for review in real-time through data-driven apps, integrated with the platform or through their existing CRM app that they know and love. Users can also initiate potential matches on entities for a review process.
IT and business teams on the same page
Everyone uses the same browser-based interface, operating on the same consistent pool of data (no need for separate staging/landing copies that may get out of sync), and granular role based functionality and data access controls. This supports ad-hoc collaboration across teams and structured processes through built-in workflow OOTB which can be configured using a supplied visual workflow tool.
Easy collaboration and communication
No additional tools are needed, Reltio comes OOTB with a choice of work templates for task distribution (e.g. round robin, get next task, allocation by specific record attribute/criteria) managed through a personal task inbox. IT, stewards and users can collaborate by commenting against individual attributes, with Google Docs style "+Joe.firstname.lastname@example.org" mentions that trigger emails delivering comments and links to bring collaborators directly into a review process. Assignment and reassignment is a simple one-click select of next reviewer.
Involving business end-users early and continuously
One of the most unique features of Reltio is rapid and immediate access to the information in context delivered to business users through data-driven apps. This allows for immediate feedback, and business domain support for continuous real-time curation of the data across the enterprise. Users can not only be given the opportunity to correct hard facts, but can vote (yelp or facebook-style) on soft facts such as relationships and affiliations.