Policies are the backbone of your E&C program. Without good policies—and good policy management—organizations may miss opportunities to create a defensible culture and risk falling behind regulations. Organizations need to prioritize and have a plan for policy management including an internal champion, dedicated budget and the technology to support the program.
As the report shows, organizations that use automated policy management software have better outcomes with better workflow between writers and approves, increased policy compliance and more robust communication to employees and third parties. Policy management software saves organizations time on these tasks while saving the organization from legal and regulatory risk.