Before using the Risk Hawk tool
A global credit card service firms wanted to modernize its policy management system which was carried out manually.
There were more than 30 countries where local variations had to be created, corrected, and maintained, making it extremely difficult to manually develop and design global rules. Even the workflow for approving policies was difficult to manage and meet the deadline.
After using the Risk Hawk tool
However, the company was able to complete all of this without any difficulty, thanks to the Risk Hawk tool. Policies were easily edited and respective versions were distributed based on regional requirements. The tool also made it possible to format documents, associate, compare, and analyze them with the help of the Doc Hub module. One of the unique characteristics of the Doc Hub module being automatic reminders for annual reviews and controlling distribution, eliminated the need to do it manually, which decreased manual labor by 66%! The firm was also able to set up policy assessments for end users where custom questions could be created and test results could be automatically reviewed.
Risk Hawk - The greatest asset
By providing a centralized database and automating the entire policy management process, it was possible to guarantee that all data and information were securely documented, and versioned and that each step was carried out in accordance with all applicable rules and regulations.
The use of Risk Hawk resulted in significant boost in process efficiency and the firm was able to create and publish the right policies for different nations in 50% less time than it used to before the use of the tool.
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