Compliance management software that keeps business performance on track
Compliance management is important. Customer expectations and more demanding regulatory requirements mean you need a detailed view over the conversations your people are having with customers. You need to coach for the right behaviours and have the processes in place to remediate any breaches.
YakTrak increases compliance visibility and improves risk management by supporting regular observation and coaching coupled with conduct workflows. If a breach occurs, you will know what happened, why it happened and the remediation that has occurred to mitigate it happening again.
Create your own path to performance with YakTrak.
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Minimise risk in your business
Protect your organisation and mitigate risk
- Monitor risk behaviours and track your organisation’s outcomes against the conduct risk and compliance criteria that you define
- Obtain superior insights over the regulatory-based interactions your frontline is having with leaders and customers every day
- Track the data that matters to see patterns and trends
- Provide compliance managers with a platform that allows them to observe customer interactions and report on issues to inform training interventions
- Understand risk volume details and key conduct categories
- Give executives and directors the insights into breakdown reporting and trends over time
Support compliance and remediation outcomes
Despite the best system, sometimes people make mistakes
- Improve team member observation cadence and tracking
- Easily flag issues and develop staff with coaching remediation to manage conduct breaches
- Monitor the remediation coaching and development that occurs with your people
- Track behavioural outputs and remediation activities
- Gain regulatory oversight and an audit trail of what your organisation does to coach breaches
- Align YakTrak’s workflows with your organisation’s processes
Compliance management that lifts capability
Develop the culture you want while getting the checks and balances you need
- Get an overview of how leaders and team members are progressing with development
- Monitor and document coaching conversations and schedule follow-up actions easily
- Set and track goals to improve capability
- Schedule regular conversations between manager and team members so development is embedded into the work experience
- Encourage regular coaching conversations so people are clear about what they are expected to do, and have the support they need to succeed
Gain confidence with YakTrak's compliance management system
Set your business up with a powerful management tool
- Customise workflows that can be easily integrated into your workplace processes
- Easily access evidence of coaching and customer remediation
- Quickly see the workflows that are important to you
- Get real-time insights and compliance, risk and people development reporting
- Gain a risk management tool that provides clarity over the behaviours that require developing
Make compliance and data easy
YakTrak is easy to use and integrate
- Get up and running quickly
- Optimised for mobile teams, phones and tablets
- Built-in accessibility for diverse workplaces
YakTrak’s software isn’t like other compliance management platforms
A compliance management platform that gives executives powerful oversight
- Risk management and performance management functions in the one solution
- Customised dashboards to provide important and daily insights
- Innovative UI to encourage daily usage
- APIs to support your integration needs
- Scalability to grow with your company
Ready to give YakTrak a go?
Why we're different to other management systems
We make it easy to implement, integrate and maintain YakTrak. We work with enterprise management teams to ensure we are providing the right functionality that enables reporting on conduct and performance daily, in real time, all the way to senior management and the board of directors.
- Customisable workflows to manage conduct risk
- Evidence of remediation through employee coaching
- Evidence of customer service remediation
- Powerful reporting capability to drive results and meet regulator’s requests
- Commitment to security and protecting sensitive data
Watch how YakTrak’s compliance workflow works.
What YakTrak customers say
“The visibility creates accountability to deliver consistent quality coaching.”
– Sean Francis, EnergyAustralia
In a survey of YakTrak’s clients across the energy and insurance industries, users were overwhelmingly positive about their experience using YakTrak’s management software:
- 79.4% found YakTrak easy to use
- 63.2% said YakTrak made their role easier
Read case studies to find out more.
Why do you need compliance management?
Organisations need to meet regulatory obligations, compliance requirements and community expectations. Ensuring your business has robust compliance processes will help to reduce compliance risks.
Regulators are interested in seeing the origins of conduct failures, such as:
- sales and service frameworks
- conversations with customers
- product disclosures
- how complaints and remediations are handled.
A compliance management program helps to maintain compliance, and meet industry standards and regulatory obligations. Compliance software that replaces manual processes and provides automated workflows can help you meet compliance obligations, improve incident reporting and reduce non-compliance.
How do compliance management software systems work?
Compliance management software offers an integrated platform, with automated workflows that enable you to automate regulatory compliance frameworks with your business processes. A compliance management software project is usually implemented by senior management to meet regulatory obligations. It will typically involve a risk assessment, analysis of past compliance violations, drafting of internal policies, development of compliance activities and may involve compliance training. Compliance teams typically oversee the management systems that are used by frontline teams through to management.
What should I look for in a compliance solution?
Look for a compliance solution that supports your company to meet its compliance obligations, by helping to:
- Catch breaches before they happen – visibility into frontline interactions with customers allows managers to intervene and follow up with employees for isolated incidents.
YakTrak’s ability to provide end-to-end observation helps to monitor and report on the regulatory-based interactions that team members have every day.
- Identify trends – solutions that track observations of customer conversations can help to identify patterns of behaviour that require a development program to be implemented. A solution that allows compliance management teams to observe these behaviours is crucial.
YakTrak helps to observe patterns of behaviour and identify trends before they become problems.
- Support remediation – processes that help to effectively engage team members, alongside targeted coaching, prevent future problems.
YakTrak’s ability to set targeted goals supported by an operating cadence and observation leads to effective outcomes that change behaviours.
- Facilitate reporting – real-time reports mean data can be provided with ease. Functionality should include volume, category and trend information, along with remediation actions.
YakTrak’s customised dashboards provide powerful reporting capabilities with workflows designed to track end-to-end compliance and conduct risk activities.
Compliance management solutions and compliance management software that gives management access to the data, coaching and actions taken are key to effective compliance management.
YakTrak can improve how your business is managing compliance with real-time insights and powerful workflows that replace clunky manual processes.
Why use YakTrak's compliance management software?
YakTrak supports compliance management and helps manage risk by providing unique oversight into conduct and coaching and making it easy to track remediation of breaches. YakTrak’s compliance management software improves document management by recording the development that employees undertake as part of compliance requirements (and following incident reporting and instances of non-compliance), as well as conversation tracking that can help improve business outcomes.
YakTrak can generate comprehensive reports that help to identify compliance training requirements and demonstrate compliance remediations, ensuring you have the information you need at your fingertips.
A compliance program doesn’t have to get in the way of business performance. Outcomes can be delivered safely with compliance management software that provides oversight of leadership activities, visibility of staff performance, and tracks specific remediation of conduct risk breaches, while helping to improve on-the-job employee development.
Can culture help compliance management?
Culture plays a powerful role. A company that celebrates values of integrity and business ethics tends to embed positive behaviours that help promote regulatory compliance and improve business compliance.
Senior leaders should set the tone, while frontline and middle managers ‘walk the talk’ by turning principles into practice. Compliance management ensures that everyone is kept accountable and the right compliance software can help develop a positive compliance environment.
How does YakTrak's compliance workflow work?
An example of YakTrak’s 9-step workflow:
- Key compliance elements that employees are required to demonstrate are defined.
- Compliance elements are built into an observation workflow in YakTrak.
- Compliance team members review staff member interactions with customers and report outcomes in YakTrak.
- If a risk is identified, the workflow document is sent to designated users for follow-up.
- The document provides detail to the employee’s team leader of the issue and coaching required.
- The team leader coaches the employee and tracks the outcome.
- The document alerts the customer remediation team (if required) to contact the customer with the correct information and record the outcome in YakTrak.
- The document alerts the governance team (if required) to report to the regulatory body and record the outcome in YakTrak.
- The originating compliance team keeps track of all interactions using their own status dashboard that monitors all ‘open’ risks identified.