Complaint Tracking vs Compliance Management
We are often asked questions about what makes ComplyARM Dashboard different from our competition. Although there are many different complaint trackers available, there are very few true compliance management systems, and therein lies the difference.
Complaint Tracking vs. Compliance Management
The reality is that there is a major difference between complaint tracking and compliance management. Complaint tracking is a feature that needs to be included in your compliance management system, but it does not provide a robust solution for compliance management needs. Our experience has been that complaint tracking is just a small part of the audits our clients have been subject to.
Out of a 200 question audit, complaint tracking may be 8-10 questions, but rarely is the focus of an audit. A true compliance management system needs to assist in the management of many other compliance related business functions including (but not limited to):
- Asset Sales
- Service Provider (Vendor) Management
- Facility Security
A System Based on Policies & Procedures
ComplyARM has worked on policy and procedure projects with some of the most respected debt buyers in the accounts receivable management industry. As part of those projects, we spend considerable time auditing and reviewing the operations of debt buyers and their non-legal, legal and technology service providers, giving us a unique perspective on compliance.
ComplyARM Dashboard was designed and developed by Chief Compliance Officers to provide a deeper compliance solution that allows them to manage and document all their job responsibilities. These added features including Contact Relationship Management (CRM), licensing and insurance tracking tools.
Collaborative Complaint Resolution
With all the bells and whistles we have added to our compliance management system, we have not forgotten complaint (or in our case “Event”) management. The complaint tracking module within ComplyARM Dashboard creates a collaborative environment for the resolution of compliance events. Service Providers and/or debt buyers can log into the system and enter compliance events directly into the system, automatically notifying their partner of the situation.
During the investigation into the event, call records, letters to the consumer or other digital documents and files can be uploaded to the system for evaluation. This provides a secure way of transferring compliance information between organizations through a secure portal in an organized fashion.
ComplyARM believes that compliance management needs to be affordable if everyone is going to be expected to participate. We have intentionally priced our tool to be affordable by organizations of any size, from small sh0ps to global organizations.
ComplyARM is the premier provider of compliance management system (CMS) technology for the accounts receivable management industry. We have developed customized tools for the accounts receivable management industry. Debt buyers and collection agencies have special compliance requirements and the ComplyARM Dashboard system is designed to help them meet those needs and reduce the overwhelming workload created by the current regulatory environment.
This article courtesy of ComplyARM.