During the discovery of the right regulatory technology solution for you, did you feel overwhelmed by the endless variety of terms to describe what ultimately seemed like the same platform? You’re not alone.
Technology to underpin regulatory practice is not new and has continued to evolve over time. Twenty years ago, almost all government agencies developed their own internal bespoke and customised solutions to support their regulatory needs. This often-involved disparate spreadsheets, manual paper-based forms, and custom databases. And a considerable lack of automation.
“In the past 20 years a key topic of public sector reform in OECD countries has been the
emergence of regulatory policy. During this period, the nature of regulation has undergone profound and rapid change.” [1]
During this rapid period of change, government regulators across different industries have been trying to solve similar challenges, while using different terms and language.
The importance of using the same regulatory language is becoming more mainstream. According to Dr Grant Pink, author of ‘Navigating Regulatory Language
An A to Z Guide’, there are potentially significant advantages in regulators using, embracing, maintaining and developing a more common and shared regulatory language. Including assisting with:
At Objective RegWorks we have identified an increasing number of Government Regulators going to market for a technology solution to enhance their ability to administer regulation and solve common challenges for regulators.
“Increasingly, innovative thinking and skilful use of information technology (IT) are leading to new and more effective approaches to administrative regulation.”[2]
“New technologies can help improve risk-based regulation: better availability of data and IT tools mean that it is easier to assess and target risks.” [3]
At Objective RegWorks we have noticed agencies are using a vast range of regulatory language to describe the solution they are looking for. They may be unaware that RegWorks is an end-to-end regulatory solution, designed specifically for Government regulators and is the right tool to support all your regulatory requirements. Here are some commonly used terms we’ve uncovered;
A regulatory management system is software designed to support government regulators with their approvals, compliance monitoring, and enforcement responsibilities. These systems provide a structured framework that helps regulators administer their regulatory processes more efficiently and effectively.
A Compliance and Regulation System helps you to;
Or various iterations of this - Compliance and Case Management System,
Case Management Systems support a complex process that requires a combination of human tasks and electronic workflow, such as:
These solutions support the workflow, management collaboration, storage of images and content, decisioning, and processing of electronic files or cases.
A Safety Compliance, Inspections and Audit System is similar to a regulatory management system. It is designed specifically to support government regulators with administering compliance monitoring, managing inspections, audits and enforcement responsibilities.
Similar to a Regulatory Management System, a Licence and Regulatory Platform is software designed to support government regulators with administering licences, applications, renewals, compliance monitoring, and enforcement responsibilities.
Is the same as a Regulatory Management System.
A Customer Relationship Management (CRM) is a system or software that helps track information and interactions between your company and your customers.
CRMs are not designed specifically for managing regulatory functions for Government agencies. While at first glance, they may seem like an easy choice, they come with many challenges including extensive work and investment involved in customisation and upgrades. See more information about why a CRM is not the right choice for Government regulators here.
At Objective, we don’t mind what language you use while looking for the right technology tool for your regulatory practice – but we have the one word you need to remember – RegWorks!
Learn how you can reap the benefits of taking a modern, digital approach to regulation, become a risk-based regulator and deliver regulatory best practice within your agency by choosing the only end-to-end regulatory software tool designed and supported in Australia and New Zealand – Objective RegWorks.
[1] THE EVOLUTION OF REGULATORY POLICY IN OECD COUNTRIES, Nick Malyshev Organisation for Economic Co-Operation and Development
[2] THE EVOLUTION OF REGULATORY POLICY IN OECD COUNTRIES, Nick Malyshev Organisation for Economic Co-Operation and Development
[3] Regulatory Policy, The world has changed and so must rule making, OECD - https://www.oecd.org/gov/regulatory-policy/rpo-standalone.pdf
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Itree is now part of Objective
While we may have changed our name, our products and people are still dedicated to delivering outstanding software for safety, regulation, compliance and enforcement.
