Slough, UK (30th May, 2013) – Hitec Laboratories, a leading provider of Enterprise Content Management (ECM) and Governance, Risk and Compliance (GRC) software solutions to enterprises around the world, highlights the challenges law firms are facing in an increasingly regulated environment.
The compounding growth of regulations and compliance directives means Partners, COLP’s and COFA’s are facing added pressure to demonstrate Compliance and Best Practice. Law firms appreciate the requirement for robust Policies and Procedures, but realise that these alone are almost worthless if they are not regularly reviewed and communicated properly, leaving them vulnerable to financial and reputational damage in the event of a regulatory investigation.
These risks, along with escalating accountability at an individual and Partner level, means proactive management of critical Policies is essential to mitigate liability.
Hitec are finding more and more law firms are deploying their automated Policy Lifecycle Management solution, PolicyHub, to help them simplify their entire policy lifecycle process, from creation and review through to communication, knowledge assessment, audit and reporting.
Jeremy Crame, CEO of Hitec comments: “We are being continually approached by Law firms asking for advice and support with their Policy management programmes. Driven by tightening regulations and standards, these firms are implementing automated solutions to ensure their Governance, Risk and Compliance needs are met and to demonstrate Best Practice. Automated solutions provide peace of mind in an increasingly demanding regulatory environment, providing evidence should litigation arise. Our customers agree that their administrative overheads can be costly and managing silos of information from various sources is incredibly time consuming and susceptible to errors. They like PolicyHub as it’s a built for purpose, cost-effective solution that protects them from serious risks by providing evidence of Best Practice.”
Jeff Wright, Partner, Facilities & IT Director, on behalf of Morgan Cole LLP, a Hitec PolicyHub customer, states: “We already had a number of well written Policies in place. Over time we’d also established a system of ‘Policy owners’. Where we were struggling was the lack of a system that could make management of this process really effective, simple and sustainable.”
As the demands of addressing legislation and regulations increase, firms are looking for a practical solution that is easy to deploy and configure. PolicyHub is simple to use and enables proactive management of critical documents, supporting law firms to avoid the significant risks associated with non-compliance.
Hitec’s PolicyHub received a special commendation at The Compliance Register Platinum Awards. The solution was recognised for ‘Exemplary Service to Compliance and Regulation’.
See a PolicyHub demonstration online at: https://www.hiteclabs.com/solutions/grc/policyhub/policyhub-demo/
For more information contact Hitec on 01628 600900, email: enquiries@hiteclabs.com or visit: www.hiteclabs.com
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About Hitec Laboratories:
For more than 20 years Hitec Laboratories has been helping Customers in the Financial, Commercial and Public/Government Sectors to address some of their most pressing business and operational challenges. Hitec solutions span Enterprise Content Management (ECM) and Governance Risk & Compliance (GRC), enabling organisations to reduce costs, increase efficiencies, ensure compliance and protect against risk. Today, Hitec enjoys a large SME and blue chip customer base in over 30 Countries worldwide.
Hitec’s overriding belief in collaborating with Customers and Partners has led to its rapid expansion, both organically and by acquisition. Their longstanding Customers of fifteen years or more are testament to their passion for Partnership and desire to provide businesses with credible, tested software solutions which are continually evolving.
Hitec’s integrity is highlighted by the relationships they develop with their Customers and Industry Leaders and they continue to inspire and challenge the market as well as offering presentations and articles which aim to cultivate a co-operative business environment.
Contact:
Cheryl Nichols
HiTec Labs Ltd
430 Bath Rd
Slough, Berks
Zip: SL1 6BB
Tel: 01628 600900
Email: cheryl.nichols@hiteclabs.com