Governance and Compliance Optimization Overview

A large Fortune 100 financial services client needed to modernize their MarTech stack and integrate governance and compliance into their everyday workflow. An outdated marketing compliance system was costing roughly $500,000 annually to maintain. It failed to scale to new asset volumes and provide cloud features needed to mitigate risks in preventing compliance incidents and negative impacts. CapabilitySource answered the call and delivered a modern automated and integrated compliance solution powered by Adobe Workfront.

Client Needs

  • SEAMLESS submission exchange between business areas and compliance
  • SECURE compliance case information that is exposed to the right people at the right time
  • IMMEDIATE submission and response handling across internal and external parties
  • TRANSPARENT compliance status information for appropriate parties
  • AUDITABLE compliance case information that is built and stored for audit purposes

Operational Challenges

  • Compliance streamlined into day-to-day activities to align compliance performance
  • Active compliance data: real, here and now to avoid consequences of non-compliance
  • Compliance embedded in everyday workflow that can be more effective than generic training that doesn’t always influence team member behavior

Solution

  • Retired an antiquated, expensive compliance work management system
  • Built a cloud-based compliance OSR system by adopting Adobe Workfront as their operational system of record in both marketing and compliance business areas
  • Standardized compliance top sheet data and submission data for all business areas
  • Implemented a custom middleware API bridge service for more than 700 users to integrate compliance with their preferred applications and systems

Realized Benefits

  • One operational system across compliance and many business areas
  • Real-time reporting on status, volumes, accept rates and feedback so business units can track status and overall effectiveness
  • Ability to track content versions and associated metadata, identify appropriate regulations, track interactions with regulators and control content all the way through content distribution
  • Ability to create and upload training documents, videos and guides so they are accessible by those conducting work in the business
  • Compliance reports and key metrics provided directly to business units to evaluate individual performance
  • Real-time dashboards and reports to monitor regulator feedback and report on the status of submission by submitter, reviewer or regulator

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