Should you implement SM&CR through your HR system?
Are you trying to implement SM&CR through your HR system? Some firms have adopted this approach.
From direct experience working with companies who have managed SM&CR in this way, it did not work. The sheer volume of processes/workflows, activities, forms, reports/dashboards, data extracts etc. that need to be managed within SM&CR and the cost of customising y existing HR software to integrate SM&CR could cost up to five times more than buying a dedicated solution.
Our SM&CR management product, Accord, has been built specifically to deal with the systems needed for this regulation and will be updated to keep in line with regulatory updates at no extra cost.
In summary, handling SM&CR within your HR system takes unnecessary time and resources away from other activities your HR team manage and can cause complications when you need to update it further down the line.
To find out more about the Accord programme, email [email protected] or message me on LinkedIn directly.
Front Office Risk & Control Executive with over 10 years of experience implementing risk controls and building compliant culture for successful companies.
5 年HR are a valued member of our implementation team. I do not believe that the whole responsibility lies in HR. The business should lead a collaboration between a number of functions works well.
Regulatory Services Director: Consultancy. Magazine Editor: T-CNews Please follow T-CNews on Linkedin
5 年Hi #JuliePardy can I just check please?? Are you suggesting that all companies, no matter their size and business models are recommended to use an SMCR solution? This make come as a shock to some firms? Perhaps a couple of shared examples of specifics why an SMCR solution is advisable would be welcome? I have opened up Worksmart's excellent article on T-CNews https://www.t-cnews.com/smcr/regulatory-software-suppliers-firms-trust/? My concern is that if firms do need to do something time is running out.