How are regulatory bodies managing e-transformation?

E-transformation consists of fundamentally changing our approach for the better — with advanced analytics, machine learning, and innovation coming to revolutionize the quality of the service we provide. Reduced costs, saved resources, better profitability, and higher efficiency are some of its most notable benefits.

Technology will transform the world, and we need to adopt a new mindset in regards to how we operate in this new reality. That is true for everyone: small and medium companies, global corporations, government agencies and regulatory bodies alike.

Regardless of your industry, the concept of linking all of your users, products and resources has now become reality. It is time to rethink the whole process behind how organizations manage their resources and interact with their users to get the best out of this new opportunity: it is about placing the people at the core of your operations and investing into effective leadership.

In turn, this approach generates immense amounts of invaluable data about every facet of the organization.  This data is the key to optimizing your operations, to better serve those who trust you with their business. In the case of regulatory bodies, data culture is also instrumental in ensuring optimal accuracy when tending to their duties.

Current challenges of Regulatory Bodies

Every regulatory authority has the obligation to serve and protect the public interest at all times when regulating the performance and governance of a profession, and enforcing compliance with best practices regulations.

In the course of exercising the powers and performing the duties of the regulatory body, they’re tasked with promoting and enhancing supportive and productive connections between entities, harnessing responsive and adaptive relations with the registrants' practice environments, technological developments, and other emerging issues affecting the consumer.

Naturally, in the process of performing these duties, regulatory bodies face a number of challenges. With responsibilities such as membership management, annual renewals and user sign-ins, they require a powerful and agile digital system allowing them to efficiently manage these tasks. Consequently, E-transformation becomes even more vital when dealing with online training to ensure compliance with best practices and security standards, as well as conducting investigations that require the support of data to ensure optimal accuracy.

By facilitating connection between employees and registrants through easy-to-navigate portals, E-transformation plays an important role in ensuring proper complaints management, enforcing ethics and discipline, and managing events.

Why should regulatory bodies choose the cloud?

In a cloud-based environment, the task of hosting every aspect of an organization is delegated to a third-party service. This gives organizations the flexibility to scale up or down as necessary, as well as pay on an as-needed basis, without maintaining physical server infrastructure.

Virtual technology, rented from a provider like Microsoft Azure, is used to host the entirety of the company's applications on the cloud. Data is backed up routinely, without capital costs, or ongoing expenses. The cloud serves as a fantastic way to communicate with users, partners, and other organizations, since it enables you to connect with everyone effortlessly.

Furthermore, cloud security is now stronger than ever, not only removing the pressure off your organization, but also ensuring the safety of its users, which is particularly important for regulatory bodies that handle large amounts of private, sensitive information. Instead of having your on-premises storage at risk, the most prominent cloud-based solutions guarantee a team of world-class cybersecurity specialists at your disposal at all times.

These specialists will be there to ensure that your organization does not fall prey to hackers, as was the case with the College of Nurses of Ontario hack in September 2020 that compromised the information of almost 200,000 users on their servers.

E-transformation: added value of collaboration tools

Teamwork is crucial when it comes to operating an efficient organization, as success can only be achieved when a team works together to help its clientele.

This is particularly true in the case of regulatory bodies, as it is necessary for all departments to collaborate in order to ensure optimal compliance with regulations. The team-based implementation of digital transformation methods is thus vital for this domain.

Here are some of the most indispensable tools for regulatory bodies to look out for in the e-transformation process.

Project management tools

A good project management tool is crucial in helping teams plan and execute projects. This will assist your teams by managing work assignments, adhering to project schedules, keeping track of progress, and making sure that everyone is more productive and responsive.

Video conferencing

A video conference is a great method to get all the advantages of meeting in person without the costs and inconvenience. Teamwork, improved connections between distant teams, and the savings in travel costs are all advantages of adopting video conferencing as part of a regulatory body's core processes.

Office chat

With email, information is not editable, and can be lost, or sent to the wrong recipients, which may lead to inaccurate decisions that can prove to be detrimental, especially in the case of regulatory bodies. In contrast, all information on digital communication platforms is centralized and combined to offer a single source of truth for all your company communications. You may use office chat software to organize work groups to ensure that everyone is on the same page, helping with the circulation of information, as well as getting all the key stakeholders involved in important procedures.

Real-time document revision

Working together on the same project simultaneously while using real-time document collaboration means your team members may opt for whichever preferred document-editing software they like without having to worry about compatibility. Although colleagues may be located in separate workplaces, they may all collaborate on one project together if they're connected to the same cloud network, quickly and efficiently.

Cloud storage with version control

Regulatory bodies will significantly benefit from cloud storage solutions, which are necessary for the implementation of increased scalability, quicker deployment, and improved information management. For instance, whenever someone needs to access an older copy of a document, all versions of the file are stored in a single place and any member of the authorized team may locate a particular version and save a copy if required.

Regulatory bodies benefit greatly from E-transformation

Dedicated team sites for every project and department allow you to exchange files, data, news, and resources with your coworkers. An intranet that utilizes the cloud to enable employee engagement and information exchange promotes efficiency by making organizational resources and applications accessible through portals.

By using collective knowledge to power research, and intelligent methods to find relevant information, facts, and insights, decision-makers have all the tools at their disposal to make better choices. If you have a robust content management system, you may easily tap into your organization's overall knowledge base, and steer your decisions to better protect the consumer that's relying on the regulatory body.

How technology helps to promote high practice standards amongst regulatory bodies’ registrants

Training is necessary to help workers master job-specific skills or security regulations. A Learning Management System (LMS) can manage your company's training material and courses while also providing the opportunity to broaden the delivery of vital information.

Virtualization of training via LMS can blend Instructor-Led-Training (ILT) and in-person seminars with virtual programs, providing the user with the freedom to learn at their pace and enjoy the support of real-time online classroom sessions.

A customized learning method emulates the maximum potential quality of learning, as well as education based on data-driven requirements. It is designed to serve as a resource for trainers, providing teams with exactly what they need on an individual basis. In order to enhance the online programs' effectiveness, data may be used to demonstrate what works and what doesn't.

Create a live event

An extension of Teams meetings, Teams live events provide greater flexibility over video, audience participation, and reporting for producing events for big online audiences. Teams allows you to broadcast an event to up to 10,000 people, then record and send that live event, lecture, or training out later. Here is how you make one:

1. In order to create a Teams live event, you can use the Meetings button on the left side of the app, then choose New meeting.

2. Select New meeting > New live event at the top of the dialog box.

3. Add meeting information, such as its title, date, and time.

4. To invite others to your event, put their names in the Invite people to your event group box.

5. Select Next.

6. To choose who can attend your live event, set up Live event permissions for the desired attendees.

7. Select the desired options under How do you plan to produce your event?

8. Select Schedule.

9. Copy the unique code from Get attendee link. Use this to invite people to the event.

Why bet on Gestisoft as your transformation partner

Legio 365 is a software solution that is a great match for regulatory bodies seeking to undergo E-transformation in order to make the best use of Microsoft business tools. Legio has been a flagship product for Gestisoft for 12 years, and we have continued to invest in its development and the inclusion of new features to better suit our clients’ needs.

Get started today: Need help to accelerate your E-transformation? Make an appointment with our consultants.