Companies often struggle to implement policy oversight and review processes because they lack a means of control across multiple business units and across a wide range of operational processes. Lack of compliance with corporate policy and operational procedures may generate significant losses, resulting in stock losses, inventory damage or waste and financial losses. Companies are also having difficulty in complying with external regulations due to their massive organizational structures and diverse business units.
The
Profitect
Suite
assures
operational
compliance
by
simplifying
complex
supervision
processes;
providing
business
condition
driven
alerts;
and
friendly
user
interface
allowing
to
update
the
control
tools
to
day-to-day
operations
and
reflect
changing
procedures.
The
Profitect
Suite
addresses
operational
compliance
challenges
with:
- Advanced notifications and alerts, triggered by any business condition (e.g., a grocery department manager had made an order that exceeds the recommended order by a given threshold).
- Sophisticated rule maintenance capabilities that provide companies with a single, consolidated view of all the compliance monitoring tools, along with user friendly rule editing, rule verification and testing modules.
Additional examples for incidents that may be detected by The Profitect Suite:
- A price controlled item is sold above the maximum price allowed, exposing the organization to heavy regulator penalties (relevant in countries where the regulator had limited the maximum price for a product/item).
- Employee purchase at the store is registered in a non-designated point of sale.
- Customer service attendant failing to comply with return procedures, thus generating losses by unjustified crediting of a client, or acceptance of damaged products.
- Account manager failing to comply with distributor compensation procedures and granting the distributors under his responsibility with excessive and fraudulent bonuses.
- Salesmen failing to comply with discount and payment plan procedures. The Profitect Suite will alert in the event that a client is granted non-authorized benefits.