Business Requirements

After assessment phase, the implementation teams work on the remediation plan for the identified gaps. Most organizations have established requirements management processes with appropriate program and project management functions. However, they all deal with the similar issues - lack of traceability. Business Requirements application transforms your approach to implementation with a new and powerful solution and offers end-to-end traceability.

FEATURES

STRUCTURED BUSINESS REQUIREMENTS

• Capture business requirements as you determine.
• Connect it to the relevant Gap Analysis elements. You can relate the business requirement to more than one gap analysis elements and across different sections of the rule.
• Update the various attributes of the requirements as per your project management needs.
• Manage business requirements with the edit tools as they evolve. You can update the requirement text or the associated attributes.
• Create and manage business requirements as applicable for every section-paragraph in the rule.

 

PILLAR LEVEL BUSINESS REQUIREMENTS

Your gaps and remediation are associated to the Pillars of Compliance (Governance framework, Policies and Procedures, Systems, Data Management, Controls, Testing, Validation, Training and Documentation). This helps you to capture business requirements that address the various aspect of business operations and not just the systems related requirements.

 

PROJECT MANAGEMENT

Once you have created a business requirement, you can manage its progress by using the editor to update it status, progress, issues, dependencies and a whole range of other Using the various attributes for keeping track of the progress of the requirements, you can effectively manage projects with end-to-end traceability.

 

AUDIT TRAIL

Regulatory agencies need to review the evidence of governance, controls, review and approval framework. This has always been a challenge. Not any more. Over the time, you can update the status of the requirements, attach evidence and make updates to the requirements. The changes are audited. Management, audit or regulators track and view the governance/control framework.

 

TEAM COMMUNICATION

Team members can use the comments feature to provide their comments and conduct review at their convenience. This saves time and even Senior/Executive management can provide their timely feedback. Communicate requirement changes, approvals or validations with ease. Comments will be displayed on the team member’ dashboards.

 

ROLE BASED ACCESS CONTROL

Assign the responsible team members with permissions to read-write, read or approve and ensure that team members have secure access.

 

WORKFLOW

Implementing 3-line of defense workflow involves varying level of complexities. Business Requirements is designed to inherently address this feature. Using RBAC, assign the users with responsibility at the section level and by application.

 

EXPORT AND IMPORT DATA

You can download an excel template, document your analysis and upload it to the Business Requirements. You can also generate a dynamic report and export it to Excel or PDF. Versatile open standard APIs provide additional flexibility to Business Requirements to seamlessly transfer information.

BENEFITS

END-TO-END TRACEABILITY

Write your business requirements in context of your assessments and at the section-paragraph level. You have access to all the rules, supporting authority and gap analysis in a single screen display. Eliminate searching through 100's or 1000's of pages of rule text and different versions of your requirements. Understand, identify requirements and expedite development of a compliant approach.

 

UNIFORM COMPLIANCE PROCESS

The CDP provides a consistent big-picture view of all the compliance projects in your organization. Your operations to implement compliance will now be consistent across any rule you implement. Such an option was previously not possible because the regulations and gap analysis were not available for intuitive use.

 

FIRM-WIDE VISIBILITY AND CONTROL

Firm-wide visibility and control of all pertinent data minimizes delays and redundancies. RBAC at the section level allows separation of responsibilities. Uniform compliance processes across all rules provides organization wide compliance visibility and control.

 

EFFICIENT WORKFLOWS

Efficient workflows simplify the management review process and communication of recommendations and responses & secure 24/7 access reduces travel.

 

ROBUST CHANGE MANAGEMENT

Impact to projects from rule & requirement changes are minimized with higher visibility and improved tracking.

 

SIMPLIFIED TEAM COMMUNICATION

Ensures proper issue resolution & response to review commentaries.

 

RESOURCE ALLOCATION & MANAGEMENT

Is efficient and centralized. Saves time, effort, travel, maximizes resources and ensures superior results.

 

SECTION-ORIENTED APPROACH

Mirrors the agency’s review methods & conveys an understanding of agency priorities & requirements.

 

AGENCY FEEDBACK

Can be easily incorporated & remediated. Effective document management & audit trail Improves oversight efforts and eliminates disputed results.