MEGA has released a new solution designed to help companies reduce their risks and streamline compliance activities to meet governance challenges.

HOPEX Regulatory Compliance is built on MEGA's HOPEX platform, which powers MEGA's broad range of integrated software solutions, helping organizations meet complex, interconnected needs and achieve effective enterprise governance. With HOPEX and the solutions built upon it, MEGA has integrated the previously separate domains of governance, risk and compliance, enterprise architecture and IT portfolio management.

Multiple functions—risk management, internal control, internal audit, and regulatory compliance—can share a single repository containing all of the information relative to the company's risks, controls, and compliance requirements. The solution also makes it possible for different departments or divisions to exchange information according to role and avoid duplicated efforts.

Specifically, HOPEX Regulatory Compliance is designed to help organizations:

Create a legal inventory of all regulations and requirements in a single repository that contains up-to-the-minute information;

Assign requirements to each department, risk, or process through easy-to-understand maps and tables;

Assess compliance risk by using campaigns to evaluate the probability and impact of potential threats;

Test the design and effectiveness of compliance controls to identify faulty ones that require improvement; and

Generate action plans to lower a compliance risk level or enhance a control based on identified deficiencies.

HOPEX Regulatory Compliance enables companies to focus on their biggest potential threats; increase awareness and ownership of responsibilities by associating compliance requirements with departments or processes; and reduce time spent on compliance activities through streamlined reporting that ranges from detailed analysis to executive summaries. 

Topics