A system that allows linking of regulations, policies and procedures enhances efficiency and effectiveness. Linking provides an instant overview of what documents need to be reviewed (and possibly updated) when regulatory requirements change. Links mean less time spent looking through physical copies of documents, as well as faster updates to ensure compliance.
Finally, a cost/benefit analysis of a web-based system should analyze the total cost of ownership versus direct and indirect economic benefits. While it is possible to make economic estimates of the above efficiency gains, it is difficult to estimate the effectiveness gains, such as the lowered likelihood of non-compliance. A qualitative assessment of a system, however, should focus on the likelihood of non-compliance incidents with and without the system under evaluation, as well as the potential severity of such incidents. For the total cost of ownership, estimates should include hardware and software costs, license and maintenance fees, as well direct and indirect costs of implementation (including training), operation and maintenance.
Web-based policies and procedures systems streamline policy management and distribution. Taking the time to consider system attributes, total cost of ownership, and other criteria can help you select the system that is right for your organization.
If you would like further details on the strategies outlined in the article, please visit: