Regulatory Compliance
Expedite regulatory compliance and make good governance a business advantage
Complying with regulations, industry standards, and corporate quality initiatives can be complex and costly both for the companies that need to realize compliance and those doing business with them. Microsoft Dynamics GP offers ways to implement and monitor corporate compliance while easing the challenges often associated with it. Going beyond compliance, Microsoft Dynamics GP helps you control business processes and planning better, and bring about a business culture of accountability.
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Extend your business management solution to achieve regulatory compliance
Whether you need to comply with Sarbanes-Oxley, HIPAA, GASB, or any other regulatory or corporate standard-integrity of your information is critical. You can use your business management solution to maintain optimal integrity and data security, and obtain pervasive control in your compliance efforts. Extending Microsoft Dynamics GP gives you a practical way to implement an automated, user-defined approach to compliance that fits seamlessly with your existing business technology and processes. You can strengthen the confidence of auditors, regulators, and your own people in the results of your compliance efforts by maintaining a well-defined, thoroughly documented, and fully consistent approach to compliance.
Use Microsoft Dynamics GP to:
| • | Set and manage security restrictions on any data fields, windows, and forms with Field Level Security in Microsoft Dynamics GP. |
| • | Track and report on any changes to any data fields and tables, and document approval of any changes, with Audit Trails and Electronic Signatures for Microsoft Dynamics GP. |
| • | Store and safeguard historical compliance and transaction information. |
| • | Automate and centralize control processes to ensure complete compliance and eliminate human error. |
Reduce the cost and complexity of compliance
When you must allocate valuable resources to implement and monitor effective compliance with regulation and standards, the costs of compliance can become exorbitant. Using Microsoft Dynamics GP to help you manage all compliance efforts, you can reduce compliance-related draw on your people and budget. As you implement consistent, flawless regulatory compliance, you also help your people focus on essential tasks without compromising the fulfillment of compliance or other work assignments.
Microsoft Dynamics GP offers several strategies to help your cost containment and promote best use of business resources:
| • | Automate compliance workflows and checkpoints, so employees take action at the right moment and are not compelled to monitor processes or gather data at all times. |
| • | Minimize the cost of audits by reducing the number of audit observations and the amount of time needed to assemble transaction history, by using SmartView in Audit Trails. |
| • | Eliminate unnecessary paperwork and store and verify changes and approvals within compliance processes electronically. |
| • | Free up information technology (IT) resources for essential functions in compliance management and remove busywork from IT, by using Microsoft Dynamics GP functionality that is centrally managed and shares a common database, with minimal need for any additional background system management tasks. |
| • | Implement business roles to give employees a reliable framework for realizing compliance, also reducing the chance of human error and omissions. |
| • | Extend people's existing software skills to work with Microsoft Dynamics GP as a compliance tool, minimizing training requirements. |
Create a connected infrastructure for compliance
As Microsoft Dynamics GP becomes a key component of your compliance strategy, it also helps you gain more value from existing technology investments. Microsoft Dynamics GP works with and like the Microsoft technologies you already own, and you can use the solution together with other Microsoft products in your business to make compliance even more effective:
Manage risk and move your business forward
By facilitating strong information protection and automated, streamlined compliance processes, Microsoft Dynamics GP helps you reduce the risk of compliance and avoid gaps in your compliance efforts. From there, it is only a small step to using Microsoft Dynamics GP to support your overall decision-making, planning, and performance management. Good corporate governance then permeates all of your business activities and helps you take your company to the next level.
Microsoft Dynamics GP offers many opportunities to generate best business practices and results from compliance management tasks:
| • | Use Analytical Accounting for Microsoft Dynamics GP for flexible and extensible reporting on compliance-related information as well as other important business data. |
| • | Monitor compliance efforts and other business events by creating personal or RoleTailored alerts that keep you informed and prompt you to take action when certain values and conditions occur in a Microsoft Dynamics GP data table. |
| • | Keep tabs on changing business conditions with custom reminders, based on SmartList query results, on your personalized home page in Microsoft Dynamics GP. |
| • | Share compliance information or business performance data by making Microsoft Dynamics Key Performance Indicators (KPIs) available on your company's intranet site, promoting smart business decisions based on all relevant information. |
Review real-life customer compliance successes with Microsoft Dynamics GP
Bringing about regulatory or industry standards compliance is a critical consideration for many organizations that use Microsoft Dynamics GP. Take a look at successes businesses experience as they realize compliance and other benefits with Microsoft Dynamics GP (at the time of some of these implementation projects Microsoft Dynamics GP was named Microsoft Business Solutions-Great Plains).
Next steps
