From the Blog

Simplifying compliance management with workflow automation

Maximising productivity is a goal shared by many businesses seeking to gain a competitive edge. An effective way to do this is by automating processes and workflows. For businesses operating in highly regulated industries, automating compliance management and conduct risk can significantly improve efficiency and relieve administrative burden. In this blog post, we’ll look at the importance of compliance management, examine the benefits of workflow automation and demonstrate how an automated compliance management workflow can transform your business’s operations.

Why is compliance management important?

Businesses under the regulatory spotlight – financial institutions and industries like insurance, superannuation, energy, health, aged care and telecommunications – need compliance management programs and solutions to help maintain compliance, meet industry and community expectations, and fulfill regulatory obligations.

A conduct risk or compliance management system should:

  • prevent breaches
  • identify trends
  • support remediation
  • facilitate reporting.

By implementing a conduct risk or compliance management system, businesses can proactively address and coach issues, mitigate risk, and promote a culture of transparency and accountability.

The power of compliance workflow automation

Automating compliance processes and workflows can save time, effort and resources while ensuring visibility and highlighting areas for improvement. Let’s explore the benefits of compliance automation:

  • Improves efficiency: Automating compliance processes helps eliminate manual tasks and double handling.
  • Increases accuracy: Automation ensures that compliance processes are implemented consistently, minimising the risk of human error.
  • Reduces risk: Real-time insights and analytics enable proactive identification of risks so team leaders can address them quickly.
  • Provides visibility: Real-time reports can be monitored by quality assurance (QA) teams and managers to identify trends and gaps and address them through development.
  • Simplifies compliance reporting: Automated compliance workflows provide an easily accessible audit trail, showing compliance activities and actions taken. This simplifies compliance and regulatory reporting.

YakTrak’s compliance management workflow

YakTrak simplifies compliance with an automated conduct risk compliance management workflow:

  1. Define conduct risk elements: Compliance elements are first defined to ensure clarity around what needs to be measured/tracked.
  2. Observation workflow: These elements are built into an observation workflow.
  3. Compliance review: Compliance and QA teams review staff interactions with customers and report on outcomes.
  4. Identification of risk: During the QA process a team member identifies a potential compliance risk, such as a non-compliant action or process. When a risk is identified the workflow document is sent to designated users for follow-up.
  5. Assignment to coach: The document provides detail to the employee’s team leader of the identified risk and coaching required.
  6. Coaching session: The team leader contacts the team member to schedule a coaching session. They discuss the identified risk, its implications and how to prevent similar errors in the future. During the coaching session goals are established to ensure the error is not repeated in the future.
  7. Remediation: The workflow alerts the customer remediation team (if required). They engage with the customer or relevant stakeholder to provide correct information and record the outcome in YakTrak.
  8. Regulatory compliance trigger: The document alerts the governance team (if required) to report to the regulatory body and record the outcome in YakTrak.
  9. Monitoring: The originating compliance team tracks all interactions using their own status dashboard that monitors all open risks.

YakTrak’s fully automated workflow takes the guesswork out of compliance management so leaders have more time to lead while ensuring an easily accessible audit trail for compliance and reporting.

YakTrak also increases your team’s productivity by providing insights into areas of their workflow that can be improved.

Watch how YakTrak can increase your team’s productivity with fully automated workflows and dashboards.


Conduct risk or compliance doesn’t have to get in the way of great customer outcomes. Risk measures can be weaved seamlessly into quality conversation behaviours with YakTrak’s compliance management software.  YakTrak’s automated workflows can even improve productivity helping your business gain the edge it’s striving for.

Contact us today to find out how YakTrak can help simplify your compliance and conduct risk workflows.

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Photo by Israel Andrade on Unsplash